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REGISTERED NUMBER: SC162266 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

HOSE WORLD LTD.

HOSE WORLD LTD. (REGISTERED NUMBER: SC162266)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


HOSE WORLD LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: D W Adam
N J P Adam
Mrs. C Adam





SECRETARY: Mrs. C Adam





REGISTERED OFFICE: Unit 3
Acredale Industrial Estate
Eyemouth
Berwickshire
TD14 5LQ





REGISTERED NUMBER: SC162266 (Scotland)





ACCOUNTANTS: J.H. Greenwood & Company
Chartered Accountants
Ava Lodge
Castle Terrace
Berwick Upon Tweed
Northumberland
TD15 1NP

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HOSE WORLD 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 Income Statement 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 Hose World Ltd. for the year ended 31 July 2023 which comprise the Profit and Loss Account, 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hose World 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 Hose World Ltd. and state those matters that we have agreed to state to the Board of Directors of Hose World Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hose World Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hose World 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 Hose World Ltd.. You consider that Hose World 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 Hose World 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.






J.H. Greenwood & Company
Chartered Accountants
Ava Lodge
Castle Terrace
Berwick Upon Tweed
Northumberland
TD15 1NP


9 October 2023

HOSE WORLD LTD. (REGISTERED NUMBER: SC162266)

BALANCE SHEET
31 JULY 2023

31/7/23 31/7/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 337,422 327,673

CURRENT ASSETS
Stocks 835,545 865,131
Debtors 5 226,284 255,385
Cash at bank and in hand 1,755 118,896
1,063,584 1,239,412
CREDITORS
Amounts falling due within one year 6 904,840 1,030,556
NET CURRENT ASSETS 158,744 208,856
TOTAL ASSETS LESS CURRENT
LIABILITIES

496,166

536,529

CREDITORS
Amounts falling due after more than one
year

7

(158,682

)

(192,230

)

PROVISIONS FOR LIABILITIES (33,827 ) (30,522 )
NET ASSETS 303,657 313,777

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 52,394 53,558
Retained earnings 251,163 260,119
SHAREHOLDERS' FUNDS 303,657 313,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

HOSE WORLD LTD. (REGISTERED NUMBER: SC162266)

BALANCE SHEET - continued
31 JULY 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 Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by:





N J P Adam - Director


HOSE WORLD LTD. (REGISTERED NUMBER: SC162266)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Hose World 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods, excluding VAT.

Turnover attributable to geographical markets outside the United Kingdom amounted to 0.67% (2022 - 1.38%).

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost, 25% on cost, 20% on reducing balance and 15% on reducing balance
Motor vehicles - 20% on 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 Profit and Loss Account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

HOSE WORLD LTD. (REGISTERED NUMBER: SC162266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

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 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 August 2022 248,000 272,476 64,755 585,231
Additions - 10,304 30,395 40,699
Disposals - (4,948 ) (22,695 ) (27,643 )
At 31 July 2023 248,000 277,832 72,455 598,287
DEPRECIATION
At 1 August 2022 13,106 218,925 25,527 257,558
Charge for year 5,106 15,433 7,846 28,385
Eliminated on disposal - (4,533 ) (20,545 ) (25,078 )
At 31 July 2023 18,212 229,825 12,828 260,865
NET BOOK VALUE
At 31 July 2023 229,788 48,007 59,627 337,422
At 31 July 2022 234,894 53,551 39,228 327,673

Cost or valuation at 31 July 2023 is represented by:

Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Valuation in 2018 7,151 - - 7,151
Valuation in 2021 48,000 - - 48,000
Cost 192,849 277,832 72,455 543,136
248,000 277,832 72,455 598,287

If Tangible Fixed Assets had not been revalued they would have been included at the following historical cost:

31/7/23 31/7/22
£    £   
Cost 543,136 515,366
Aggregate depreciation 261,938 241,251

Freehold land and buildings were valued on an open market basis on 16 September 2021 by Melrose and Porteous .

HOSE WORLD LTD. (REGISTERED NUMBER: SC162266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Trade debtors 218,026 249,141
Other debtors 8,258 6,244
226,284 255,385

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Bank loans and overdrafts 253,828 280,005
Hire purchase contracts 10,840 -
Trade creditors 451,781 553,018
Taxation and social security 66,114 85,326
Other creditors 122,277 112,207
904,840 1,030,556

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/7/23 31/7/22
£    £   
Bank loans 137,906 192,230
Hire purchase contracts 20,776 -
158,682 192,230

8. RESERVES
Fair
value
reserve
£   
At 1 August 2022 53,558
Fair value reserve deprec. (1,164 )

At 31 July 2023 52,394

9. RELATED PARTY DISCLOSURES

As security for the overdraft and loans the bank have a fixed and floating charge over the assets of the company. In addition to this there is a personal guarantee provided by D W Adam.