Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 SC141251 Mrs Norma Moffat Mr Ross Moffat Mrs Norma Moffat iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC141251 2022-12-31 SC141251 2023-12-31 SC141251 2023-01-01 2023-12-31 SC141251 frs-core:Non-currentFinancialInstruments 2023-12-31 SC141251 frs-core:BetweenOneFiveYears 2023-12-31 SC141251 frs-core:FurnitureFittings 2023-01-01 2023-12-31 SC141251 frs-core:MotorVehicles 2023-01-01 2023-12-31 SC141251 frs-core:PlantMachinery 2023-01-01 2023-12-31 SC141251 frs-core:WithinOneYear 2023-12-31 SC141251 frs-core:ShareCapital 2023-12-31 SC141251 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC141251 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC141251 frs-bus:AbridgedAccounts 2023-01-01 2023-12-31 SC141251 frs-bus:SmallEntities 2023-01-01 2023-12-31 SC141251 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC141251 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC141251 frs-bus:Director1 2023-01-01 2023-12-31 SC141251 frs-bus:Director1 2022-12-31 SC141251 frs-bus:Director1 2023-12-31 SC141251 frs-bus:Director2 2023-01-01 2023-12-31 SC141251 frs-bus:Director2 2022-12-31 SC141251 frs-bus:Director2 2023-12-31 SC141251 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 SC141251 frs-countries:Scotland 2023-01-01 2023-12-31 SC141251 2021-12-31 SC141251 2022-12-31 SC141251 2022-01-01 2022-12-31 SC141251 frs-core:Non-currentFinancialInstruments 2022-12-31 SC141251 frs-core:BetweenOneFiveYears 2022-12-31 SC141251 frs-core:WithinOneYear 2022-12-31 SC141251 frs-core:ShareCapital 2022-12-31 SC141251 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
HUME HARDWOOD FLOORING LIMITED
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: SC141251
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 33,444 10,235
33,444 10,235
CURRENT ASSETS
Debtors 22,811 34,514
Cash at bank and in hand 63,831 65,506
86,642 100,020
Creditors: Amounts Falling Due Within One Year (59,344 ) (62,751 )
NET CURRENT ASSETS (LIABILITIES) 27,298 37,269
TOTAL ASSETS LESS CURRENT LIABILITIES 60,742 47,504
Creditors: Amounts Falling Due After More Than One Year (10,140 ) (18,598 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,354 ) (1,945 )
NET ASSETS 44,248 26,961
CAPITAL AND RESERVES
Called up share capital 6 10 2
Profit and Loss Account 44,238 26,959
SHAREHOLDERS' FUNDS 44,248 26,961
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mrs Norma Moffat
Director
Mr Ross Moffat
Director
10th July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
HUME HARDWOOD FLOORING LIMITED is a private company, limited by shares, incorporated in Scotland, registered number SC141251 . The registered office is Lochview House, Limerigg, Falkirk, FK1 3BY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Impairment of Fixed Assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
Page 3
Page 4
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as
reported in the profit and loss account because it excludes items of income or expense that are taxable or
deductible in other years and it further excludes items that are never taxable or deductible. The company's
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the
reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised
to the extent that it is probable that they will be recovered against the reversal of deferred tax
liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing
difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction
that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the
asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period
when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss
account, except when it relates to items charged or credited directly to equity, in which case the deferred
tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally
enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate
to taxes levied by the same tax authority.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Tangible Assets
Total
£
Cost
As at 1 January 2023 46,555
Additions 26,947
As at 31 December 2023 73,502
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 January 2023 36,320
Provided during the period 3,738
As at 31 December 2023 40,058
Net Book Value
As at 31 December 2023 33,444
As at 1 January 2023 10,235
5. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,458 2,458
Later than one year and not later than five years 1,640 4,098
4,098 6,556
4,098 6,556
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10 2
7. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mrs Norma Moffat 12,758 17,809 - - 30,567
Mr Ross Moffat - 2,571 - - 2,571
The above loan is unsecured, interest free and repayable on demand.
Page 5