Plowman's Carpets Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC247979 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2026

for

Plowman's Carpets Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Plowman

Mrs K Plowman

SECRETARY:

Mrs K Plowman

REGISTERED OFFICE:

2 Girnigoe Street

Wick

Caithness

KW1 4HH

REGISTERED NUMBER:

SC247979 (Scotland)

ACCOUNTANTS:

Reid & Fraser

Chartered Accountants

92 High Street

Wick

Caithness

KW1 4LY

BANKERS:

Bank of Scotland

18 Bridge Street

Wick

Caithness

KW1 4NG

FIXED ASSETS

Tangible assets

4

76,648

86,284

CURRENT ASSETS

Stocks

23,922

23,751

Debtors

5

58,321

117,913

Cash at bank and in hand

148,570

179,673

230,813

321,337

CREDITORS

Amounts falling due within one year

6

(55,901

)

(95,325

)

NET CURRENT ASSETS

174,912

226,012

TOTAL ASSETS LESS CURRENT
LIABILITIES

251,560

312,296

PROVISIONS FOR LIABILITIES

(8,824

)

(10,537

)

NET ASSETS

242,736

301,759

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

242,636

301,659

SHAREHOLDERS' FUNDS

242,736

301,759

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2026 and were signed on its behalf by:

Mrs K Plowman - Director

1.	STATUTORY INFORMATION

Plowman's Carpets Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% straight line

Plant and machinery

-

15% reducing balance

Fixtures and fittings

-

15% reducing balance

Motor vehicles

-

25% reducing balance

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2025 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

COST

At 1 April 2025

36,235

19,096

725

86,659

142,715

Additions

-

7,536

-

7,536

Disposals

-

(249

)

-

(17,468

)

(17,717

)

At 31 March 2026

36,235

26,383

725

69,191

132,534

DEPRECIATION

At 1 April 2025

5,409

8,867

687

41,468

56,431

Charge for year

618

2,642

6

10,480

13,746

Eliminated on disposal

-

(96

)

-

(14,195

)

(14,291

)

At 31 March 2026

6,027

11,413

693

37,753

55,886

NET BOOK VALUE

At 31 March 2026

30,208

14,970

32

31,438

76,648

At 31 March 2025

30,826

10,229

38

45,191

86,284

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

38,893

117,913

Other debtors

19,428

-

58,321

117,913

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade creditors

28,351

21,732

Taxation and social security

23,861

62,205

Other creditors

3,689

11,388

55,901

95,325

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2026 and 31 March 2025:

2026

2025

£

A Plowman

Balance outstanding at start of year

-

Amounts advanced

17,873

-

Amounts repaid

(8,425

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

9,448

-

Mrs K Plowman

Balance outstanding at start of year

-

Amounts advanced

18,405

-

Amounts repaid

(8,425

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

9,980

-

8.	ULTIMATE CONTROLLING PARTY

The company is under the control of the directors who together own 100% of the issued share capital.