ACCOUNTS - Final Accounts preparation

Company registration number: SC425720 (Scotland)SC425720

OTHERHAND LTD

UNAUDITED FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2025

OTHERHAND LTD

COMPANY INFORMATION

Director	Mr J S McKay


Company number	SC425720


Registered office	6 St Colme Street
	Edinburgh
	Midlothian
	EH3 6AD



Accountants	MHA Advisory Limited
	Chartered Accountants
	6 St Colme Street
	Edinburgh
	EH3 6AD

OTHERHAND LTD

CONTENTS

	Page
Balance sheet	1 - 2
Notes to the financial statements	3 - 6

OTHERHAND LTD

REGISTERED NUMBER: SC425720

BALANCE SHEET

AS AT 30 JUNE 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	3		910		1,138
			910		1,138
Current assets
Debtors: amounts falling due within one year	4	523		551
Cash at bank and in hand		3,554		573
		4,077		1,124
Creditors: amounts falling due within one year	5	(26,454)		(23,294)
Net current liabilities			(22,377)		(22,170)
Total assets less current liabilities			(21,467)		(21,032)

Net liabilities			(21,467)		(21,032)

Capital and reserves
Called up share capital	6	2	2
Profit and loss account		(21,469)	(21,034)
		(21,467)	(21,032)

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 November 2025.

Page 1

OTHERHAND LTD

REGISTERED NUMBER: SC425720

BALANCE SHEET (CONTINUED)

AS AT 30 JUNE 2025

Mr J S McKay

Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

OTHERHAND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

1.Accounting policies

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. Monetary amounts in these financial statements are rounded to the nearest £.

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

1.2

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

1.3

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation. Depreciation is recognised so as the write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment 20% 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.

1.4

Impairment of fixed assets

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate

1.5

Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Page 3

OTHERHAND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

1.Accounting policies (continued)

1.7

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8

Financial intruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

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.

Debtors

Debtors with no stated interest rate or receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Creditors

Creditors with no stated interest rate and payable within one year are recorded at transaction price.

All interest bearing loans and borrowings which are basic financial instruments are initially recorded at the oresent value of cash payable. After initial recognition they are measured at amortised cost.

1.9

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).

Page 4

OTHERHAND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

3.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 July 2024	3,504
	At 30 June 2025	3,504
	Depreciation
	At 1 July 2024	2,366
	Charge for the year on owned assets	228
	At 30 June 2025	2,594
	Net book value
	At 30 June 2025	910
	At 30 June 2024	1,138

4.	Debtors: Amounts falling due within one year

					2025	2024
					£	£


Other debtors	-	30
Prepayments and accrued income	523	521
	523	551

5.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Other creditors	25,774	22,774
Accruals and deferred income	680	520
	26,454	23,294

Page 5

OTHERHAND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

6.	Called up share capital
		2025	2024
		£	£

Ordinary share capital issued and fully paid

2 (2024 - 2) Ordinary shares shares of £1.00 each	2	2

7.	Directors' transactions

As at 30 June 2025 an amount of £25,773 has been advanced to the company by the director (2024 - £22,774). There are no fixed terms for repayment and no interest is charged. The director confirms that he will not seek repayment of this balance to the detriment of other creditors.

8.	Related party transactions

The directors are of the opinion that all related party transactions are conducted under normal market conditions and on an arm's length basis and therefore do not need to be disclosed under FRS 102 section 1A appendix C.

Page 6