Company registration number SC165925 (Scotland)
H.P.S. (Aberdeen) Limited
Unaudited financial statements
for the year ended 31 May 2024
Pages for filing with registrar
H.P.S. (Aberdeen) Limited
Chartered Accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of H.P.S. (Aberdeen) Limited
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of H.P.S. (Aberdeen) Limited for the year ended 31 May 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the board of directors of H.P.S. (Aberdeen) Limited, as a body, in accordance with the terms of our engagement letter dated 17 October 2022. Our work has been undertaken solely to prepare for your approval the financial statements of H.P.S. (Aberdeen) Limited and state those matters that we have agreed to state to the board of directors of H.P.S. (Aberdeen) Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than H.P.S. (Aberdeen) Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that H.P.S. (Aberdeen) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of H.P.S. (Aberdeen) Limited. You consider that H.P.S. (Aberdeen) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of H.P.S. (Aberdeen) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

James Milne
Chartered Accountants
Rosewood
Raemoir Road
Banchory
AB31 4ET
19 February 2025
H.P.S. (Aberdeen) Limited
Statement of financial position
as at 31 May 2024
31 May 2024
2
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
2
22,850
22,010
Current assets
Stocks
700
500
Debtors
421
751
Cash at bank and in hand
395
1,887
1,516
3,138
Creditors: amounts falling due within one year
(248,003)
(246,714)
Net current liabilities
(246,487)
(243,576)
Net liabilities
(223,637)
(221,566)
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
(224,637)
(222,566)
Total equity
(223,637)
(221,566)

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

H.P.S. (Aberdeen) Limited
Statement of financial position (continued)
as at 31 May 2024
31 May 2024
3
The financial statements were approved by the board of directors and authorised for issue on 14 February 2025 and are signed on its behalf by:
Peter Henderson
Director
Company registration number SC165925 (Scotland)
H.P.S. (Aberdeen) Limited
Notes to the financial statements
for the year ended 31 May 2024
4
1
Accounting policies
Company information

H.P.S. (Aberdeen) Limited is a private company limited by shares incorporated in Scotland. The registered office and trading address is Arbor Lodge, Provost Craig Road, Ballater, AB35 5NN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has net liabilities of £223,637 ( 2023 - £221,566), but included in creditors is the sum of £227,655 (2023 - £222,756) owed to the directors. The directors have confirmed that they will not call in this amount for as long as necessary to ensure the ongoing viability of the company. The directors therefore consider it to be appropriate for the accounts to be prepared on a going concern basis.true

1.3
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.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% reducing balance
Fixtures and fittings
10% reducing balance
Computers
40% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

H.P.S. (Aberdeen) Limited
Notes to the financial statements (continued)
for the year ended 31 May 2024
1
Accounting policies (continued)
5
1.6
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Tangible fixed assets
Total
£
Cost
At 1 June 2023
111,753
Additions
6,160
At 31 May 2024
117,913
Depreciation and impairment
At 1 June 2023
89,743
Depreciation charged in the year
5,320
At 31 May 2024
95,063
Carrying amount
At 31 May 2024
22,850
At 31 May 2023
22,010
3
Directors' transactions
During the year the Directors' entered into the following advances and credits with the company:
Opening balance  (credit)
Amounts advanced
Amounts repaid
Closing balance  (credit)
£
£
£
£
222,756
7,312
(2,413)
227,655
222,756
7,312
(2,413)
227,655
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