Acorah Software Products - Accounts Production 16.4.675 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 SC390738 Mr R Stevenson Mr M Holt iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC390738 2023-12-31 SC390738 2024-12-31 SC390738 2024-01-01 2024-12-31 SC390738 frs-core:CurrentFinancialInstruments 2024-12-31 SC390738 frs-core:ComputerEquipment 2024-12-31 SC390738 frs-core:ComputerEquipment 2024-01-01 2024-12-31 SC390738 frs-core:ComputerEquipment 2023-12-31 SC390738 frs-core:FurnitureFittings 2024-12-31 SC390738 frs-core:FurnitureFittings 2024-01-01 2024-12-31 SC390738 frs-core:FurnitureFittings 2023-12-31 SC390738 frs-core:ShareCapital 2024-12-31 SC390738 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 SC390738 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC390738 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 SC390738 frs-bus:SmallEntities 2024-01-01 2024-12-31 SC390738 frs-bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 SC390738 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC390738 frs-bus:Director1 2024-01-01 2024-12-31 SC390738 frs-bus:Director2 2024-01-01 2024-12-31 SC390738 frs-countries:Scotland 2024-01-01 2024-12-31 SC390738 2022-12-31 SC390738 2023-12-31 SC390738 2023-01-01 2023-12-31 SC390738 frs-core:CurrentFinancialInstruments 2023-12-31 SC390738 frs-core:ShareCapital 2023-12-31 SC390738 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: SC390738
Hawksworth Retail Asset Management Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
EH54 6AX
Contents
Page
Accountant's Report 1
Balance Sheet 2
Notes to the Financial Statements 3—5
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Hawksworth Retail Asset Management Limited for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Hawksworth Retail Asset Management Limited for the year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company's accounting records and from information and explanations you have given to us.
As a practising member of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts-revised-june-2020.
This report is made solely to the directors of Hawksworth Retail Asset Management Limited , as a body, in accordance with the terms of our engagement letter dated 13 July 2023. Our work has been undertaken solely to prepare for your approval the accounts of Hawksworth Retail Asset Management Limited and state those matters that we have agreed to state to the directors of Hawksworth Retail Asset Management Limited , as a body, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hawksworth Retail Asset Management Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Hawksworth Retail Asset Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Hawksworth Retail Asset Management Limited . You consider that Hawksworth Retail Asset Management 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 accounts of Hawksworth Retail Asset Management 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 accounts.
Signed
2 July 2025
Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
EH54 6AX
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Page 2
Balance Sheet
Registered number: SC390738
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,484 1,339
1,484 1,339
CURRENT ASSETS
Debtors 5 38,934 23,109
Cash at bank and in hand 534,993 492,900
573,927 516,009
Creditors: Amounts Falling Due Within One Year 6 (137,857 ) (144,348 )
NET CURRENT ASSETS (LIABILITIES) 436,070 371,661
TOTAL ASSETS LESS CURRENT LIABILITIES 437,554 373,000
PROVISIONS FOR LIABILITIES
Deferred Taxation (371 ) (335 )
NET ASSETS 437,183 372,665
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 437,182 372,664
SHAREHOLDERS' FUNDS 437,183 372,665
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M Holt
Director
2 July 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hawksworth Retail Asset Management Limited is a private company, limited by shares, incorporated in Scotland, registered number SC390738 . The registered office is Argyll House, Quarrywood Court, Livingston, West Lothian, EH54 6AX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% straight line
Computer Equipment 20% straight line
2.4. Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 1,066 874 1,940
Additions - 667 667
As at 31 December 2024 1,066 1,541 2,607
Depreciation
As at 1 January 2024 426 175 601
Provided during the period 214 308 522
As at 31 December 2024 640 483 1,123
Net Book Value
As at 31 December 2024 426 1,058 1,484
As at 1 January 2024 640 699 1,339
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 37,659 21,670
Other debtors 1,275 1,439
38,934 23,109
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 704
Amounts owed to participating interests 65,739 60,739
Other creditors 28,275 36,069
Taxation and social security 43,843 46,836
137,857 144,348
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4
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8. Related Party Disclosures
The company operates a loan account with the director, Mr R T Stevenson.
During the year, the company repaid loans totalling £2,589 to the director. At the year end, the balance due to the director was £nil (2023 - £2,589). This loan is unsecured, interest free and has no fixed repayment terms.
The company operates a loan account with the director, Mr M A Holt.
During the year, the company repaid loans totalling £5,205 to the director. At the year end, the balance due to the director was £28,275 (2023 - £33,480). This loan is unsecured, interest free and has no fixed repayment terms.
The company operates a loan account with the parent company, Hawksworth Retail Group Limited.
During the year, dividends totalling £65,500 were declared and paid to the parent company. During the year, the parent company advanced loans to Hawksworth Retail Asset Management Ltd totalling £5,000. At the year end, the balance due to the parent company was £65,739 (2023 - £60,739). This loan is unsecured, interest free and has no fixed repayment terms.
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