S. & S. HAUGHEY LIMITED


Directors	Mr S R Haughey
	Mr S C Haughey


Company Secretary	Mr S R Haughey


Registered Address	26 Mcgowan Street
	Paisley
	PA3 1QJ


Registered Number	SC256009 (Scotland)

Balance Sheet as at
31 August 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		2,361		2,946
			2,361		2,946
Current assets
Stocks		8,400		9,250
Debtors	5	12,349		2,005
Cash at bank and on hand		8,652		49,790
		29,401		61,045
Creditors amounts falling due within one year	6	(20,261)		(39,805)
Net current assets (liabilities)			9,140		21,240
Total assets less current liabilities			11,501		24,186
Creditors amounts falling due after one year	7		-		(3,300)
Provisions for liabilities			(590)		(736)
Net assets			10,911		20,150
Capital and reserves
Called up share capital			100		100
Profit and loss account			10,811		20,050
Shareholders' funds			10,911		20,150

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 31 August 2026, and are signed on its behalf by:

Mr S C Haughey
Director

Mr S R Haughey
Director

Registered Company No. SC256009

S. & S. HAUGHEY LIMITED

Notes to the Financial Statements
for the year ended 31 August 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered office is 26 McGowan Street, Paisley, Renfrewshire, Scotland, PA3 1QJ.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the sale of goods and services attributable to the one principal activity of the company being that of salvage and paint strippers.

	Current taxation
	Current tax is recognised in profit or loss and represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss and represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

Intangible assets

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

	Tangible fixed assets and depreciation
	Tangible assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and machinery - 15% on reducing balance Computer equipment - 33% on reducing balance Motor vehicles - 25% on reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

Tangible fixed assets and depreciation

Tangible assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery                                                     - 15% on reducing balance
Computer equipment                                                     - 33% on reducing balance
Motor vehicles                                                               - 25% on reducing balance

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

	Stocks and work in progress
	Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

Stocks and work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately within current liabilities.

	Financial instruments
	The company only enters into basic financial instruments that result in the recognition of financial assets like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 September 24	10,000	10,000
At 31 August 25	10,000	10,000
Amortisation and impairment
At 01 September 24	10,000	10,000
At 31 August 25	10,000	10,000
Net book value
At 31 August 25	-	-
At 31 August 24	-	-

4.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 September 24	9,077	6,000	130	15,207
At 31 August 25	9,077	6,000	130	15,207
Depreciation and impairment
At 01 September 24	7,555	4,576	130	12,261
Charge for year	229	356	-	585
At 31 August 25	7,784	4,932	130	12,846
Net book value
At 31 August 25	1,293	1,068	-	2,361
At 31 August 24	1,522	1,424	-	2,946

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Other debtors	12,111	1,720
Prepayments and accrued income	238	285
Total	12,349	2,005

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Bank borrowings and overdrafts	3,300	3,600
Taxation and social security	5,561	10,542
Other creditors	-	14,262
Accrued liabilities and deferred income	11,400	11,401
Total	20,261	39,805

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	-	3,300
Total	-	3,300

8.	Related party transactions
	As at 31 August 2025 the director's owed the company £10,464 (2024: £14,262 owed by the company to the director's).