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REGISTERED NUMBER: SC761739 (Scotland)















FINANCIAL STATEMENTS

FOR THE PERIOD 9 MARCH 2023 TO 30 APRIL 2024

FOR

HOFF STORES UK LTD

HOFF STORES UK LTD (REGISTERED NUMBER: SC761739)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 9 MARCH 2023 TO 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HOFF STORES UK LTD

COMPANY INFORMATION
FOR THE PERIOD 9 MARCH 2023 TO 30 APRIL 2024







DIRECTOR: F J Marchena Marin



REGISTERED OFFICE: 133 Finnieston Street
Glasgow
G3 8HB



REGISTERED NUMBER: SC761739 (Scotland)



SENIOR STATUTORY AUDITOR: John Sheather BSc FCA



AUDITORS: McCabe Ford Williams
Chartered Accountants and Statutory Auditors
Charlton House
Dour Street
DOVER
Kent
CT16 1BL

HOFF STORES UK LTD (REGISTERED NUMBER: SC761739)

BALANCE SHEET
30 APRIL 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 364,189

CURRENT ASSETS
Stocks 80,610
Debtors 5 269,609
Cash at bank 192,907
543,126
CREDITORS
Amounts falling due within one year 6 908,427
NET CURRENT LIABILITIES (365,301 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,112

)

CAPITAL AND RESERVES
Called up share capital 1
Retained earnings (1,113 )
(1,112 )

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 27 November 2024 and were signed by:





F J Marchena Marin - Director


HOFF STORES UK LTD (REGISTERED NUMBER: SC761739)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 9 MARCH 2023 TO 30 APRIL 2024

1. STATUTORY INFORMATION

Hoff Stores Uk 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.

Leasehold improvements- 20% on cost
Fixtures, fittings & equipment- 20% 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 period 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

HOFF STORES UK LTD (REGISTERED NUMBER: SC761739)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 9 MARCH 2023 TO 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and
improvements fittings Totals
£    £    £   
COST
Additions 362,746 29,738 392,484
At 30 April 2024 362,746 29,738 392,484
DEPRECIATION
Charge for period 25,629 2,666 28,295
At 30 April 2024 25,629 2,666 28,295
NET BOOK VALUE
At 30 April 2024 337,117 27,072 364,189

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 76,961
Other debtors 192,648
269,609

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 26,732
Amounts owed to group undertakings 871,693
Taxation and social security 1,236
Other creditors 8,766
908,427

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
£   
Within one year 250,000
Between one and five years 863,615
1,113,615

HOFF STORES UK LTD (REGISTERED NUMBER: SC761739)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 9 MARCH 2023 TO 30 APRIL 2024

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Sheather BSc FCA (Senior Statutory Auditor)
for and on behalf of McCabe Ford Williams

9. RELATED PARTY DISCLOSURES

At the year end the company owed £871,693 to its parent company, The HOFF Brand, SL.

10. GOING CONCERN

The financial statements have been prepared on the going concern basis. The director consider this basis to be appropriate as the company continues to receive the support of it's parent company HOFF Spain SL.