Company Registration No. SC524826 (Scotland)
Husavik Ltd.
Unaudited accounts
for the year ended 31 January 2025
Husavik Ltd.
Unaudited accounts
Contents
Husavik Ltd.
Company Information
for the year ended 31 January 2025
Directors
S Chisholm
C Nicoll
Company Number
SC524826 (Scotland)
Registered Office
The Steading
Oldtown Of Leys
Inverness
Culduthel
IV2 6AE
Accountants
CMM Accountancy (Inverness) Limited
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
Husavik Ltd.
Statement of financial position
as at 31 January 2025
Tangible assets
1,794
1,183
Cash at bank and in hand
146,534
109,736
Creditors: amounts falling due within one year
(31,661)
(29,686)
Net current assets
140,422
102,312
Total assets less current liabilities
142,216
103,495
Provisions for liabilities
Net assets
141,875
103,270
Called up share capital
100
100
Profit and loss account
141,775
103,170
Shareholders' funds
141,875
103,270
For the year ending 31 January 2025 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by
S Chisholm
Director
Company Registration No. SC524826
Husavik Ltd.
Notes to the Accounts
for the year ended 31 January 2025
Husavik Ltd. is a private company, limited by shares, registered in Scotland, registration number SC524826. The registered office is The Steading, Oldtown Of Leys, Inverness, Culduthel, IV2 6AE.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Husavik Ltd.
Notes to the Accounts
for the year ended 31 January 2025
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Tangible fixed assets
Total
As at 31 January 2025, other debtors includes a loan to the director C Nicoll of £228 (2024 - £7,088 credit balance). The loan is unsecured and has no fixed terms of repayment.
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Average number of employees
During the year the average number of employees was 0 (2024: 0).