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REGISTERED NUMBER: SC561342 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Hoolit Limited

Hoolit Limited (Registered number: SC561342)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hoolit Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Ms Mary Blyth
Ms Carole Waddell





REGISTERED OFFICE: Suite 1/1
21 Glasgow Road
Baillieston
Glasgow
G69 6JT





REGISTERED NUMBER: SC561342 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Hoolit Limited (Registered number: SC561342)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,000 10,000
Tangible assets 5 1,826 1,027
11,826 11,027

CURRENT ASSETS
Debtors 6 9,175 7,547
Cash at bank and in hand 1,625 3,558
10,800 11,105
CREDITORS
Amounts falling due within one year 7 17,592 14,161
NET CURRENT LIABILITIES (6,792 ) (3,056 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,034

7,971

CREDITORS
Amounts falling due after more than one
year

8

(3,860

)

(5,848

)

PROVISIONS FOR LIABILITIES 9 (343 ) (192 )
NET ASSETS 831 1,931

CAPITAL AND RESERVES
Called up share capital 10 102 102
Retained earnings 729 1,829
SHAREHOLDERS' FUNDS 831 1,931

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Hoolit Limited (Registered number: SC561342)

Balance Sheet - continued
30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:





Ms Mary Blyth - Director


Hoolit Limited (Registered number: SC561342)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Hoolit 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.

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 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.
Plant and machinery - 25% on reducing balance

Financial instruments
Basic financial instruments, including 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 administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Hoolit Limited (Registered number: SC561342)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 10,000
NET BOOK VALUE
At 30 June 2023 10,000
At 30 June 2022 10,000

Hoolit Limited (Registered number: SC561342)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 July 2022 2,575
Additions 1,405
At 30 June 2023 3,980
DEPRECIATION
At 1 July 2022 1,548
Charge for year 606
At 30 June 2023 2,154
NET BOOK VALUE
At 30 June 2023 1,826
At 30 June 2022 1,027

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,700 6,947
Other debtors 6,475 600
9,175 7,547

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,000 2,000
Trade creditors 7,081 3,382
Taxation and social security 4,840 4,825
Other creditors 3,671 3,954
17,592 14,161

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 3,860 5,848

Hoolit Limited (Registered number: SC561342)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 343 192

Deferred
tax
£   
Balance at 1 July 2022 192
Provided during year 151
Balance at 30 June 2023 343

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
102 102

11. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.

The ultimate controlling party is the directors.