Company No: SC303241 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	1,744,954		1,568,381
		1,744,954		1,568,381
Current assets
Stocks		8,756		6,759
Debtors	5	801,822		762,461
Cash at bank and in hand		1,635,019		1,855,492
		2,445,597		2,624,712
Creditors: amounts falling due within one year	6	( 483,680)		( 644,676)
Net current assets		1,961,917		1,980,036
Total assets less current liabilities		3,706,871		3,548,417
Creditors: amounts falling due after more than one year	7	( 53,122)		( 59,286)
Provision for liabilities	8	( 336,834)		( 326,942)
Net assets		3,316,915		3,162,189
Capital and reserves
Called-up share capital	9	160		160
Profit and loss account		3,316,755		3,162,029
Total shareholders' funds		3,316,915		3,162,189

For the financial year ending 30 September 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Henderson Decorators Limited (registered number: SC303241) were approved and authorised for issue by the Board of Directors on 17 April 2026. They were signed on its behalf by:

Mrs M E Henderson Director		D W Henderson Director
C W Henderson Director		Mrs J R Croasdale Director
Ms E J Henderson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Henderson Decorators Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Johnston Carmichael Strathlossie House, 1 Kirkhill Avenue, Elgin, IV30 8DE, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received for painting and constructions services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Leasehold improvements	not depreciated
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Office equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	71		61

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 October 2024	60,000		60,000
At 30 September 2025	60,000		60,000
Accumulated amortisation
At 01 October 2024	60,000		60,000
At 30 September 2025	60,000		60,000
Net book value
At 30 September 2025	0		0
At 30 September 2024	0		0

4. Tangible assets

	Land and buildings		Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£		£
Cost
At 01 October 2024	260,615		500,623		842,870		1,086,835		53,008		25,895		2,769,846
Additions	144,978		51,591		52,992		145,798		0		2,160		397,519
Disposals	0		0		( 23,000)		( 179,438)		0		0		( 202,438)
At 30 September 2025	405,593		552,214		872,862		1,053,195		53,008		28,055		2,964,927
Accumulated depreciation
At 01 October 2024	0		0		471,000		683,346		32,163		14,956		1,201,465
Charge for the financial year	0		0		57,917		109,772		5,211		4,717		177,617
Disposals	0		0		( 19,851)		( 139,258)		0		0		( 159,109)
At 30 September 2025	0		0		509,066		653,860		37,374		19,673		1,219,973
Net book value
At 30 September 2025	405,593		552,214		363,796		399,335		15,634		8,382		1,744,954
At 30 September 2024	260,615		500,623		371,870		403,489		20,845		10,939		1,568,381

During 2020, heritable property held by the company was sold for £60,000 to a self invested personal pension for the directors. As part of the same arrangement, separately held heritable property at adjoining locations, held by the directors personally and also used by the company was sold to the pension fund for £200,000. All the heritable property sold to the pension fund is being leased back to the company for around £26,000 per annum.

5. Debtors

	2025		2024
	£		£
Trade debtors	392,166		438,478
Corporation tax	72,788		13,925
Other debtors	336,868		310,058
	801,822		762,461

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	276,747		312,905
Other taxation and social security	35,448		91,519
Obligations under finance leases and hire purchase contracts (secured)	73,207		91,398
Other creditors	98,278		148,854
	483,680		644,676

Obligations under finance leases and hire purchase contracts are secured over the assets to which the agreements relate.

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts (secured)	53,122		59,286

Obligations under finance leases and hire purchase contracts are secured over the assets to which the agreements relate.

8. Provision for liabilities

	2025		2024
	£		£
Deferred tax	336,834		326,942

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
35 A ordinary shares of £ 1.00 each	35		35
35 B ordinary shares of £ 1.00 each	35		35
30 C ordinary shares of £ 1.00 each	30		30
30 D ordinary shares of £ 1.00 each	30		30
30 E ordinary shares of £ 1.00 each	30		30
	160		160

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Amounts due to Key Management Personnel	6,105		6,045

The above balances are interest free and have no fixed terms of repayment.