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REGISTERED NUMBER: SC337585 (Scotland)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

FHD Ltd.

FHD Ltd. (Registered number: SC337585)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


FHD Ltd.

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Esther Ingeborg Bull
Barbara Loughran-dietz





SECRETARY: Esther Ingeborg Bull





REGISTERED OFFICE: Westburn Business Centre
McNee Road
Prestwick
Ayrshire
KA9 2PB





REGISTERED NUMBER: SC337585 (Scotland)





ACCOUNTANTS: The Collins Partnership
Chartered Accountants
Westburn Business Centre
McNee Road
Prestwick
Ayrshire
KA9 2PB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
FHD Ltd.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and loss and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of FHD Ltd. for the year ended 28 February 2023 which comprise the Profit and Loss, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of FHD Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of FHD Ltd. and state those matters that we have agreed to state to the Board of Directors of FHD Ltd., as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that FHD Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of FHD Ltd.. You consider that FHD Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of FHD Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Collins Partnership
Chartered Accountants
Westburn Business Centre
McNee Road
Prestwick
Ayrshire
KA9 2PB


5 October 2023

FHD Ltd. (Registered number: SC337585)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 285 335
Investment property 5 288,012 288,012
288,297 288,347

CURRENT ASSETS
Debtors 6 6,476 -
Cash at bank 1,121 1,417
7,597 1,417
CREDITORS
Amounts falling due within one year 7 194,852 189,453
NET CURRENT LIABILITIES (187,255 ) (188,036 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

101,042

100,311

CREDITORS
Amounts falling due after more than one
year

8

(55,856

)

(60,790

)

PROVISIONS FOR LIABILITIES (54 ) (64 )
NET ASSETS 45,132 39,457

CAPITAL AND RESERVES
Called up share capital 24 24
Retained earnings 45,108 39,433
SHAREHOLDERS' FUNDS 45,132 39,457

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

FHD Ltd. (Registered number: SC337585)

Balance Sheet - continued
28 February 2023


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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:





Esther Ingeborg Bull - Director


FHD Ltd. (Registered number: SC337585)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

FHD 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Going Concern
The accounts have been prepared on a going concern basis as the directors have undertaken to continue supporting the financial position of the company for the foreseeable future.

Turnover/revenue recognition
Turnover represents net invoiced sales of services, excluding value added tax and after deductions of factoring charges. The figure in the accounts represents rental income earned.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment, fixtures & fittings - 15% on reducing balance

Tangible fixed assets are stated at cost less depreciation.

Investment property
Investment properties are included at fair value. Any gains or losses are recognised in the profit and loss account. Where any gains or losses have been recognised deferred taxation is provided at the rate expected to apply when the property is sold.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.

FHD Ltd. (Registered number: SC337585)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible fixed 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 amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

FHD Ltd. (Registered number: SC337585)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Equipment,
fixtures
& fittings
£   
COST
At 1 March 2022
and 28 February 2023 2,033
DEPRECIATION
At 1 March 2022 1,698
Charge for year 50
At 28 February 2023 1,748
NET BOOK VALUE
At 28 February 2023 285
At 28 February 2022 335

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 288,012
NET BOOK VALUE
At 28 February 2023 288,012
At 28 February 2022 288,012

In the opinion of the directors, properties are included at fair value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 6,476 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,248 6,248
Taxation and social security 1,341 879
Other creditors 187,263 182,326
194,852 189,453

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 55,856 60,790

FHD Ltd. (Registered number: SC337585)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 31,831 36,105

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 62,104 67,038

Bank borrowings are secured by way of bond and floating charge over the assets of the company, standard security held over investment properties and by the Government in respect of a small bounce back loan.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Loan from Directors are interest free and repayable on demand.

11. RELATED PARTY DISCLOSURES

During the year property management fees of £2,125 (2022 £1,875) were paid to Mr Robbie Bull the husband of one of the directors.

12. CONTROLLING PARTIES

The company is under the control of both directors who each hold 45.8% of the issued share capital.