Registered number
SC233093
Hireaband Limited
Filleted Accounts
31 July 2023
Hireaband Limited
Registered number: SC233093
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 81,893 84,225
Current assets
Debtors 4 106,364 106,364
Cash at bank and in hand 323,044 370,899
429,408 477,263
Creditors: amounts falling due within one year 5 (292,730) (304,090)
Net current assets 136,678 173,173
Total assets less current liabilities 218,571 257,398
Creditors: amounts falling due after more than one year 6 (33,634) (82,240)
Net assets 184,937 175,158
Capital and reserves
Called up share capital 2 2
Profit and loss account 184,935 175,156
Shareholders' funds 184,937 175,158
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Cotton
Director
Approved by the board on 29 February 2024
Hireaband Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from commission on agency bookings. Commissions are recognised at the point of delivery of the performance of the event booking.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 91,115 31,477 122,592
At 31 July 2023 91,115 31,477 122,592
Depreciation
At 1 August 2022 8,931 29,436 38,367
Charge for the year 1,822 510 2,332
At 31 July 2023 10,753 29,946 40,699
Net book value
At 31 July 2023 80,362 1,531 81,893
At 31 July 2022 82,184 2,041 84,225
4 Debtors 2023 2022
£ £
Other debtors 106,364 106,364
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 30,347 18,718
Trade creditors 225,182 242,098
Taxation and social security costs 34,681 38,940
Other creditors 2,520 4,334
292,730 304,090
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 33,634 82,240
7 Controlling party
The company is controlled by the directors. There is no overall single controlling party.
8 Other information
Hireaband Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
27 Ritchie Street
West Kilbride
Ayrshire
KA23 9AL
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