REGISTERED NUMBER: SC248649 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2026

FOR

COWAN & DAVIDSON (JOINERS & BUILDERS)

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G Davidson

REGISTERED OFFICE:

37 Portland Road

KILMARNOCK

Ayrshire

KA1 2DJ

REGISTERED NUMBER:

SC248649 (Scotland)

ACCOUNTANTS:

Gilmour Hamilton LLP

Chartered Accountants

37 Portland Road

KILMARNOCK

Ayrshire

KA1 2DJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

197,029

216,436

197,029

216,436

CURRENT ASSETS

Stocks

6,000

-

Debtors

6

154,646

221,481

Cash at bank and in hand

256,373

191,268

417,019

412,749

CREDITORS

Amounts falling due within one year

7

134,617

164,124

NET CURRENT ASSETS

282,402

248,625

TOTAL ASSETS LESS CURRENT LIABILITIES

479,431

465,061

CREDITORS

Amounts falling due after more than one year

8

(35,463

)

(40,569

)

PROVISIONS FOR LIABILITIES

(25,634

)

(30,056

)

NET ASSETS

418,334

394,436

CAPITAL AND RESERVES

Called up share capital

10

50

50

Capital redemption reserve

11

50

50

Retained earnings

11

418,234

394,336

SHAREHOLDERS' FUNDS

418,334

394,436

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

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

The director acknowledges his 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 director and authorised for issue on 22 October 2026 and were signed by:

G Davidson - Director

1.	STATUTORY INFORMATION

Cowan & Davidson (Joiners & Builders) Limited 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.

The financial statements are presented in pounds sterling which is the functional currency of the company, rounded to the nearest pound.

Turnover

Turnover, which is stated net of value added tax, represents amounts invoiced to third parties, except in respect of contracts in progress where turnover represents the sales value of work done during the year, including estimates of amounts not invoiced.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2003 has been fully amortised evenly over its estimated useful life of 10 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Land and buildings

-

10% on cost and 2% on cost

Plant and machinery etc

-

33.33% on cost, 25% on reducing balance and 20% on reducing balance

Work in progress

Profit on contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as the proportion of the total contract value which costs to date bear to total expected costs for that contract. Full provision is made for foreseeable losses.

Where the final outcome of the contract cannot be assessed with reasonable certainty, the contract is recorded as work-in-progress and is valued at cost less any payments to account and foreseeable losses.

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 represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions.

Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. 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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over heir estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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.

Work in progress

Profit on contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as the proportion of the total contract value which costs to date bear to total expected costs for that contract. Full provision is made for foreseeable losses.

Where the final outcome of the contract cannot be assessed with reasonable certainty, the contract is recorded as work-in-progress and is valued at cost less any payments to account and foreseeable losses.

Government and other grants

Government and other grants received are credited to the profit and loss account to match with relevant expenditure. Where grants received relate to capital expenditure they are treated as deferred income and credited to the profit and loss account over the estimated useful life of the relevant assets.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2025 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2025

and 31 May 2026

60,000

AMORTISATION

At 1 June 2025

and 31 May 2026

60,000

NET BOOK VALUE

At 31 May 2026

-

At 31 May 2025

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 June 2025

118,113

222,933

341,046

Additions

-

22,088

22,088

Disposals

-

(6,300

)

(6,300

)

At 31 May 2026

118,113

238,721

356,834

DEPRECIATION

At 1 June 2025

19,805

104,805

124,610

Charge for year

1,952

34,818

36,770

Eliminated on disposal

-

(1,575

)

(1,575

)

At 31 May 2026

21,757

138,048

159,805

NET BOOK VALUE

At 31 May 2026

96,356

100,673

197,029

At 31 May 2025

98,308

118,128

216,436

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

29,343

107,890

Amounts recoverable on contracts

114,562

101,568

Value added tax

1,019

-

Prepaid charges

9,722

12,023

154,646

221,481

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

833

10,014

Hire purchase contracts

13,696

21,044

Trade creditors

43,689

30,972

Taxation and social security

58,520

86,350

Other creditors

17,879

15,744

134,617

164,124

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

-

844

Hire purchase contracts

35,463

39,725

35,463

40,569

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Hire purchase contracts

49,159

60,769

Hire purchase liabilities are secured over the assets funded.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

100

Ordinary

1

50

50

11.

RESERVES

Retained earnings represents cumulative profits and losses net of dividends and other adjustments.

The Capital redemption reserve is a statutory, non-distributable reserve into which amounts are transferred following the purchase and redemption of the company's own shares

12.	OTHER FINANCIAL COMMITMENTS

At 31 May 2026, the company had future commitments under operating leases totalling £1,980