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REGISTERED NUMBER: SC059449 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

John Hood & Son(Sculptors)Limited

John Hood & Son(Sculptors)Limited (Registered number: SC059449)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


John Hood & Son(Sculptors)Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: W H Wydmuch
G Nicolson
S Nicolson





SECRETARY: W H Wydmuch





REGISTERED OFFICE: Station Road
Wick
Caithness
KW1 5LB





REGISTERED NUMBER: SC059449 (Scotland)





ACCOUNTANTS: Reid & Fraser
Chartered Accountants
92 High Street
Wick
Caithness
KW1 4LY

John Hood & Son(Sculptors)Limited (Registered number: SC059449)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 35,020 38,200

CURRENT ASSETS
Stocks 51,212 41,381
Debtors 5 11,603 26,016
Cash at bank and in hand 112,870 83,819
175,685 151,216
CREDITORS
Amounts falling due within one year 6 (100,812 ) (90,288 )
NET CURRENT ASSETS 74,873 60,928
TOTAL ASSETS LESS CURRENT
LIABILITIES

109,893

99,128

CREDITORS
Amounts falling due after more than one year 7 (1,651 ) (5,615 )

PROVISIONS FOR LIABILITIES (7,670 ) -
NET ASSETS 100,572 93,513

CAPITAL AND RESERVES
Called up share capital 5,300 5,300
Retained earnings 95,272 88,213
SHAREHOLDERS' FUNDS 100,572 93,513

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

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

John Hood & Son(Sculptors)Limited (Registered number: SC059449)

Balance Sheet - continued
31 December 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 29 March 2024 and were signed on its behalf by:





W H Wydmuch - Director


John Hood & Son(Sculptors)Limited (Registered number: SC059449)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

John Hood & Son(Sculptors)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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - at varying rates on cost
Plant and machinery etc - 25% reducing balance and 10% 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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

John Hood & Son(Sculptors)Limited (Registered number: SC059449)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 37,020 112,447 149,467
Additions - 4,047 4,047
At 31 December 2023 37,020 116,494 153,514
DEPRECIATION
At 1 January 2023 35,538 75,729 111,267
Charge for year 178 7,049 7,227
At 31 December 2023 35,716 82,778 118,494
NET BOOK VALUE
At 31 December 2023 1,304 33,716 35,020
At 31 December 2022 1,482 36,718 38,200

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 18,560
DEPRECIATION
At 1 January 2023 10,718
Charge for year 4,945
At 31 December 2023 15,663
NET BOOK VALUE
At 31 December 2023 2,897
At 31 December 2022 7,842

John Hood & Son(Sculptors)Limited (Registered number: SC059449)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,545 17,013
Other debtors 2,058 9,003
11,603 26,016

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 3,963 3,963
Trade creditors 400 498
Taxation and social security 34,574 22,217
Other creditors 61,875 63,610
100,812 90,288

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 1,651 5,615