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REGISTERED NUMBER: SC589220 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

IHF FUTURES LIMITED

IHF FUTURES LIMITED (REGISTERED NUMBER: SC589220)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IHF FUTURES LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTOR: N D Clark



REGISTERED OFFICE: 24A Ainslie Place
Edinburgh
EH3 6AJ



REGISTERED NUMBER: SC589220 (Scotland)



ACCOUNTANTS: Mitchell Edwards
Chartered Certified Accountants
24A Ainslie Place
Edinburgh
EH3 6AJ



BANKERS: Royal Bank of Scotland
Edinburgh West End Office
142-144 Princess Street
Edinburgh
Midlothian
EH2 4EQ

IHF FUTURES LIMITED (REGISTERED NUMBER: SC589220)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 868 -
Investment property 5 761,000 725,000
761,868 725,000

CURRENT ASSETS
Debtors 6 39,406 24,215
Cash at bank 114 2,525
39,520 26,740
CREDITORS
Amounts falling due within one year 7 143,929 139,426
NET CURRENT LIABILITIES (104,409 ) (112,686 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

657,459

612,314

CREDITORS
Amounts falling due after more than one year 8 (513,269 ) (513,269 )

PROVISIONS FOR LIABILITIES (37,541 ) (29,284 )
NET ASSETS 106,649 69,761

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 112,624 87,851
Retained earnings (5,977 ) (18,092 )
106,649 69,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 20 December 2024 and were signed by:



N D Clark - Director


IHF FUTURES LIMITED (REGISTERED NUMBER: SC589220)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024


1. STATUTORY INFORMATION

IHF Futures 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.

The presentation currency of the financial statements is the Pound Sterling (£), rounded to the nearest £.

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 as modified by the revaluation of certain assets.

The company meets its day to day working capital requirements through a loan from a company under common control. This company will continue to support the company until sufficient profitability is achieved and on this basis the director considers it appropriate to prepare the accounts on a going concern basis.

Turnover
Turnover represents the total rents and other income receivable during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on cost

Investment property
The company carries investment property at fair value with changes in fair value being recognised in the Income Statement. Any such changes together with the related deferred tax are transferred to a Revaluation Reserve.

Financial instruments
Bank and other loans are shown at amortised cost, with interest and up front charges in connection with the loans being allocated to accounting periods by applying the effective interest rate method.

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 1 (2023 - 1 ) .

IHF FUTURES LIMITED (REGISTERED NUMBER: SC589220)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 965
At 30 April 2024 965
DEPRECIATION
Charge for year 97
At 30 April 2024 97
NET BOOK VALUE
At 30 April 2024 868

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 725,000
Additions 2,970
Revaluations 33,030
At 30 April 2024 761,000
NET BOOK VALUE
At 30 April 2024 761,000
At 30 April 2023 725,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2022 10,940
Valuation in 2023 106,195
Valuation in 2024 33,030
Cost 610,835
761,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 610,722 610,722

Investment property was valued on a fair value basis on 30 April 2024 by the director .

The directors assessed the fair value of the investment properties to be £761,000 (2023: £725,000) as at the year end date.

IHF FUTURES LIMITED (REGISTERED NUMBER: SC589220)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 510 250
Other debtors 38,896 23,965
39,406 24,215

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 140 511
Taxation and social security 1,580 -
Other creditors 142,209 138,915
143,929 139,426

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 513,269 513,269

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 513,269 513,269

9. SECURED DEBTS

Aldermore Bank Plc holds a standard security over each of the investment properties owned by the company.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
N D Clark
Balance outstanding at start of year 13,650 -
Amounts advanced 20,051 14,505
Amounts repaid (1,814 ) (855 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 31,887 13,650