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REGISTERED NUMBER: SC422632 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

IHF LIMITED

IHF LIMITED (REGISTERED NUMBER: SC422632)

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 LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: N D Clark
Mrs M C Clark



REGISTERED OFFICE: 24A
Ainslie Place
Edinburgh
Lothian
EH3 6AJ



REGISTERED NUMBER: SC422632 (Scotland)



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



BANKERS: The Royal Bank of Scotland plc
26 Home Street
Edinburgh
EH3 9LZ

IHF LIMITED (REGISTERED NUMBER: SC422632)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 304,546 280,673
Investments 5 37,630 37,530
342,176 318,203

CURRENT ASSETS
Debtors 6 866,042 741,784
Cash at bank 20,510 67,857
886,552 809,641
CREDITORS
Amounts falling due within one year 7 368,660 294,208
NET CURRENT ASSETS 517,892 515,433
TOTAL ASSETS LESS CURRENT
LIABILITIES

860,068

833,636

CREDITORS
Amounts falling due after more than one year 8 (165,366 ) (197,283 )

PROVISIONS FOR LIABILITIES (28,691 ) (22,723 )
NET ASSETS 666,011 613,630

CAPITAL AND RESERVES
Called up share capital 51 51
Retained earnings 665,960 613,579
666,011 613,630

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 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.

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 23 December 2024 and were signed on its behalf by:



N D Clark - Director


IHF LIMITED (REGISTERED NUMBER: SC422632)

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


1. STATUTORY INFORMATION

IHF 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.

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.
Freehold property - not provided
Plant and machinery - 33% on cost
Fixtures and fittings - 5% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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.

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
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.

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

IHF LIMITED (REGISTERED NUMBER: SC422632)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 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 year was 15 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 189,782 16,427 99,182
Additions - 107 180
At 30 April 2024 189,782 16,534 99,362
DEPRECIATION
At 1 May 2023 - 13,901 19,629
Charge for year - 1,511 4,968
At 30 April 2024 - 15,412 24,597
NET BOOK VALUE
At 30 April 2024 189,782 1,122 74,765
At 30 April 2023 189,782 2,526 79,553

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 95,829 47,611 448,831
Additions 35,025 10,809 46,121
At 30 April 2024 130,854 58,420 494,952
DEPRECIATION
At 1 May 2023 95,829 38,799 168,158
Charge for year 7,005 8,764 22,248
At 30 April 2024 102,834 47,563 190,406
NET BOOK VALUE
At 30 April 2024 28,020 10,857 304,546
At 30 April 2023 - 8,812 280,673

At 30 April 2024 the net book value of assets held under hire purchase contracts was £28,020 (2023: £Nil).

IHF LIMITED (REGISTERED NUMBER: SC422632)

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


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023 37,530
Additions 100
At 30 April 2024 37,630
NET BOOK VALUE
At 30 April 2024 37,630
At 30 April 2023 37,530

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 319,509 165,441
Other debtors 546,533 576,343
866,042 741,784

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,520 8,830
Hire purchase contracts 7,500 -
Trade creditors 80,562 30,008
Taxation and social security 206,794 176,811
Other creditors 67,284 78,559
368,660 294,208

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 90,088 94,298
Hire purchase contracts 18,125 -
Other creditors 57,153 102,985
165,366 197,283

9. DIRECTORS' 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 235,393 252,436
Amounts advanced 230,603 273,018
Amounts repaid (255,921 ) (290,061 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 210,075 235,393