Registered number
SC281058
Howes About IT Limited
Filleted Accounts
31 March 2025
Howes About IT Limited
Registered number: SC281058
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 158,277 156,726
Current assets
Debtors 4 - 1,450
Cash at bank and in hand 322 1,602
322 3,052
Creditors: amounts falling due within one year 5 (25,359) (25,407)
Net current liabilities (25,037) (22,355)
Total assets less current liabilities 133,240 134,371
Creditors: amounts falling due after more than one year 6 (44,444) (57,178)
Net assets 88,796 77,193
Capital and reserves
Called up share capital 2 2
Profit and loss account 88,794 77,191
Shareholder's funds 88,796 77,193
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Howes
Director
Approved by the board on 6 May 2025
Howes About IT Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable and includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on at the following annual rates on all tangible fixed assets, other than freehold land, as follows:
Motor Vehicles 20% on a Reducing Balance basis
Fixtures, fittings, tools and equipment 20% on a Reducing Balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax asset is recognised in respect of a tax loss that can be carried forwards to be set against tax due on future profits.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2024 156,364 452 156,816
Additions - 1,791 1,791
At 31 March 2025 156,364 2,243 158,607
Depreciation
At 1 April 2024 - 90 90
Charge for the year - 240 240
At 31 March 2025 - 330 330
Net book value
At 31 March 2025 156,364 1,913 158,277
At 31 March 2024 156,364 362 156,726
4 Debtors 2025 2024
£ £
Other debtors - 1,450
5 Creditors: amounts falling due within one year 2025 2024
£ £
Corporation tax 2,592 2,684
Other creditors 22,767 22,723
25,359 25,407
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 4,003 7,087
Other creditors 40,441 50,091
44,444 57,178
7 Other information
Howes About IT Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
20 Strathalmond Road
Edinburgh
EH4 8AF
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