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REGISTERED NUMBER: SC637322 (Scotland)















Unaudited Financial Statements For The Year Ended 31 July 2023

for

Aberdeen Hardware Co Ltd

Aberdeen Hardware Co Ltd (Registered number: SC637322)






Contents of the Financial Statements
For The Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Aberdeen Hardware Co Ltd

Company Information
For The Year Ended 31 July 2023







DIRECTORS: M Aslam
N Ahmed





REGISTERED OFFICE: 107 George Street
Aberdeen
AB25 1HU





REGISTERED NUMBER: SC637322 (Scotland)





ACCOUNTANTS: Ahmad & Nabi Mcmullan
95-107 Lancefield Street
Glasgow
Lanarkshire
G3 8HZ

Aberdeen Hardware Co Ltd (Registered number: SC637322)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 102,975 102,975
Tangible assets 5 18,060 18,889
121,035 121,864

CURRENT ASSETS
Stocks 450,975 352,450
Cash at bank and in hand 17,186 70,479
468,161 422,929
CREDITORS
Amounts falling due within one year 6 566,716 479,592
NET CURRENT LIABILITIES (98,555 ) (56,663 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,480

65,201

CREDITORS
Amounts falling due after more than one
year

7

24,000

40,000
NET (LIABILITIES)/ASSETS (1,520 ) 25,201

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 (1,620 ) 25,101
SHAREHOLDERS' FUNDS (1,520 ) 25,201

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.

Aberdeen Hardware Co Ltd (Registered number: SC637322)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2024 and were signed on its behalf by:





M Aslam - Director


Aberdeen Hardware Co Ltd (Registered number: SC637322)

Notes to the Financial Statements
For The Year Ended 31 July 2023

1. STATUTORY INFORMATION

Aberdeen Hardware Co 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.

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.

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.

Aberdeen Hardware Co Ltd (Registered number: SC637322)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 102,975
NET BOOK VALUE
At 31 July 2023 102,975
At 31 July 2022 102,975

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2022 25,524
Additions 3,686
At 31 July 2023 29,210
DEPRECIATION
At 1 August 2022 6,635
Charge for year 4,515
At 31 July 2023 11,150
NET BOOK VALUE
At 31 July 2023 18,060
At 31 July 2022 18,889

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 154,656 74,927
Tax 847 4,613
Bank loan 8,000 -
PAYE 353 776
VAT 5,892 9,497
Pension 55 47
Directors' loan accounts 388,842 385,096
Accrued expenses 8,071 4,636
566,716 479,592

Aberdeen Hardware Co Ltd (Registered number: SC637322)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loan 24,000 40,000

8. RESERVES
Retained
earnings
£   

At 1 August 2022 25,101
Profit for the year 3,279
Dividends (30,000 )
At 31 July 2023 (1,620 )