IRIS Accounts Production v24.3.0.553 SC585968 director 1.2.23 31.1.24 31.1.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5859682023-01-31SC5859682024-01-31SC5859682023-02-012024-01-31SC5859682022-01-31SC5859682022-02-012023-01-31SC5859682023-01-31SC585968ns15:Scotland2023-02-012024-01-31SC585968ns14:PoundSterling2023-02-012024-01-31SC585968ns10:Director12023-02-012024-01-31SC585968ns10:PrivateLimitedCompanyLtd2023-02-012024-01-31SC585968ns10:SmallEntities2023-02-012024-01-31SC585968ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-31SC585968ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-31SC585968ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-31SC585968ns10:FullAccounts2023-02-012024-01-31SC585968ns10:OrdinaryShareClass12023-02-012024-01-31SC585968ns10:RegisteredOffice2023-02-012024-01-31SC585968ns5:CurrentFinancialInstruments2024-01-31SC585968ns5:CurrentFinancialInstruments2023-01-31SC585968ns5:Non-currentFinancialInstruments2024-01-31SC585968ns5:Non-currentFinancialInstruments2023-01-31SC585968ns5:ShareCapital2024-01-31SC585968ns5:ShareCapital2023-01-31SC585968ns5:RetainedEarningsAccumulatedLosses2024-01-31SC585968ns5:RetainedEarningsAccumulatedLosses2023-01-31SC585968ns5:FurnitureFittings2023-02-012024-01-31SC585968ns5:FurnitureFittings2023-01-31SC585968ns5:FurnitureFittings2024-01-31SC585968ns5:FurnitureFittings2023-01-31SC585968ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-01-31SC585968ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-01-31SC585968ns10:OrdinaryShareClass12024-01-31SC585968ns5:RetainedEarningsAccumulatedLosses2023-01-31SC585968ns5:RetainedEarningsAccumulatedLosses2023-02-012024-01-31
REGISTERED NUMBER: SC585968 (Scotland)















Unaudited Financial Statements For The Year Ended 31 January 2024

for

FORFAR HARDWARE LTD

FORFAR HARDWARE LTD (Registered number: SC585968)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FORFAR HARDWARE LTD

Company Information
For The Year Ended 31 January 2024







DIRECTOR: R Ahmed





REGISTERED OFFICE: 26 Castle Street
Forfar
Angus
DD8 3AD





REGISTERED NUMBER: SC585968 (Scotland)





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

FORFAR HARDWARE LTD (Registered number: SC585968)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,604 21,635

CURRENT ASSETS
Stocks 5 307,350 255,350
Cash at bank and in hand 29,783 63,152
337,133 318,502
CREDITORS
Amounts falling due within one year 6 334,359 304,671
NET CURRENT ASSETS 2,774 13,831
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,378

35,466

CREDITORS
Amounts falling due after more than one
year

7

-

127
NET ASSETS 23,378 35,339

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 23,278 35,239
SHAREHOLDERS' FUNDS 23,378 35,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FORFAR HARDWARE LTD (Registered number: SC585968)

Balance Sheet - continued
31 January 2024


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 director and authorised for issue on 5 August 2024 and were signed by:





R Ahmed - Director


FORFAR HARDWARE LTD (Registered number: SC585968)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

FORFAR HARDWARE 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

FORFAR HARDWARE LTD (Registered number: SC585968)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 February 2023 62,288
Additions 4,120
At 31 January 2024 66,408
DEPRECIATION
At 1 February 2023 40,653
Charge for year 5,151
At 31 January 2024 45,804
NET BOOK VALUE
At 31 January 2024 20,604
At 31 January 2023 21,635

5. STOCKS
31.1.24 31.1.23
£    £   
Stocks 307,350 255,350

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 12,387 18,819
Trade creditors 168,555 152,279
Tax 25,302 7,285
Social security and other taxes 120 9
VAT 3,775 12,808
Director's loan acc 120,583 105,315
Accrued expenses 3,637 8,156
334,359 304,671

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years - 127

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary 1 100 100

FORFAR HARDWARE LTD (Registered number: SC585968)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

9. RESERVES
Retained
earnings
£   

At 1 February 2023 35,239
Profit for the year 8,039
Dividends (20,000 )
At 31 January 2024 23,278