2023-04-012024-03-312024-03-31falseSC591390HA ABERDEEN 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HA ABERDEEN LTD

Registered Number
SC591390
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

HA ABERDEEN LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

H S Atwal

Registered Address

First Floor
108 George Street
Edinburgh
EH2 4LH

Registered Number

SC591390 (Scotland)
HA ABERDEEN LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3217,681258,721
Tangible assets499,818110,845
Investments511
317,500369,567
Current assets
Stocks68,59510,267
Debtors7192,391101,689
Cash at bank and on hand99,41772,955
300,403184,911
Creditors amounts falling due within one year8(459,839)(453,738)
Net current assets (liabilities)(159,436)(268,827)
Total assets less current liabilities158,064100,740
Creditors amounts falling due after one year9(33,582)(26,159)
Net assets124,48274,581
Capital and reserves
Called up share capital100100
Profit and loss account124,38274,481
Shareholders' funds124,48274,581
The financial statements were approved and authorised for issue by the Director on 12 March 2025, and are signed on its behalf by:
H S Atwal
Director
Registered Company No. SC591390
HA ABERDEEN LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
HA Aberdeen 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.
Statement of compliance
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Patents and licences are being amortised evenly over their estimated useful life of 10 years. Goodwill is being amortised at 10% on straight line basis
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-10
Fixtures and fittings25-
Office Equipment25-
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Financial instruments
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due. within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 April 23400,00010,547410,547
At 31 March 24400,00010,547410,547
Amortisation and impairment
At 01 April 23147,2324,594151,826
Charge for year39,9961,04441,040
At 31 March 24187,2285,638192,866
Net book value
At 31 March 24212,7724,909217,681
At 31 March 23252,7685,953258,721
4.Tangible fixed assets

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 April 2312,041107,657111,968231,666
Additions-7,526-7,526
At 31 March 2412,041115,183111,968239,192
Depreciation and impairment
At 01 April 235,44674,04241,333120,821
Charge for year1,20410,2867,06318,553
At 31 March 246,65084,32848,396139,374
Net book value
At 31 March 245,39130,85563,57299,818
At 31 March 236,59533,61570,635110,845
The net carrying value of fixed assets includes the following in respect of assets held under finance leases or hire purchase. Fixtures and Fittings: £5,306.90 (2023: Nil) Depreciation charged for the year in respect of leased assets £1,769 (2023: Nil)
5.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 April 2311
At 31 March 2411
Net book value
At 31 March 2411
At 31 March 2311

Notes

1Investments in group undertakings and participating interests
6.Stocks

2024

2023

££
Finished goods8,59510,267
Total8,59510,267
7.Debtors: amounts due within one year

2024

2023

££
Other debtors175,11492,967
Prepayments and accrued income17,2778,722
Total192,391101,689
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables93,26976,323
Bank borrowings and overdrafts2,72039,315
Taxation and social security25,48212,014
Finance lease and HP contracts5,1342,010
Other creditors300,551276,492
Accrued liabilities and deferred income32,68347,584
Total459,839453,738
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts32,54125,493
Other creditors1,041666
Total33,58226,159
Included within creditors falling due within one year and creditors falling due after more than one year is £35,261(2023: £37,980) in respect of a bank loan which is guaranteed by the government under Coronavirus Business Interruption Loan Scheme.
10.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts1,041666
Obligations under finance leases are secured on the related assets. Minimum lease payments under non-cancellable leases fall due as follows: Due within one year: £5,134 (2023: £2,010) Due after one year: £1,041 (2023: £666)
11.Other commitments
LEASING AGREEMENTS: Minimum lease payments under non-cancellable operating leases fall due as follows: Due within one year: £68,196 (2023: £68,196)
12.Related party transactions
Included in other debtors are the amounts due from the companies related to directors due with in 12 months. NA Aberdeen Ltd £63,557 (2023: £63,557); NA Edinburgh Ltd £8,000 (2023: £8,000); HA Fife Ltd £2,000 (2023: £2,000); JA Fife Ltd £3,500 (2023: £3,500); HWS Edinburgh Ltd £74,000 (2023: Nil) Hadplaid Ltd acts as management company for HA Fife Ltd. The management charges amounting to £427,424 (2023: £377,530) recorded in accounts are paid to Hadplaid Ltd. Included in other creditors due with in 12 months are the amounts owed to companies related to directors. Hadplaid Ltd £68,511 (2023: £5,560); JA Fife Ltd £4,500 (2023: £4,500); Jedco Ltd £52,928 (2023: £52,928); H&N Holdings Ltd £35,000 (2023: £50,000) Included in other creditors due within 12 months are the amount due to close relative of the director J Atwal £131,434 (2023: £149,433)