3 false false false false false false false false false false true false false false false false false No description of principal activity 2024-02-01 Sage Accounts Production Advanced 2025 - FRS102_2025 3,250 3,099 42 3,141 109 151 xbrli:pure xbrli:shares iso4217:GBP SC225375 2024-02-01 2025-01-31 SC225375 2025-01-31 SC225375 2024-01-31 SC225375 2023-02-01 2024-01-31 SC225375 2024-01-31 SC225375 2023-01-31 SC225375 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-01 2025-01-31 SC225375 core:LandBuildings 2024-02-01 2025-01-31 SC225375 core:PlantMachinery 2024-02-01 2025-01-31 SC225375 core:FurnitureFittings 2024-02-01 2025-01-31 SC225375 core:MotorVehicles 2024-02-01 2025-01-31 SC225375 bus:Director2 2024-02-01 2025-01-31 SC225375 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-31 SC225375 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-31 SC225375 core:LandBuildings 2024-01-31 SC225375 core:PlantMachinery 2024-01-31 SC225375 core:FurnitureFittingsToolsEquipment 2024-01-31 SC225375 core:MotorVehicles 2024-01-31 SC225375 core:LandBuildings 2025-01-31 SC225375 core:PlantMachinery 2025-01-31 SC225375 core:FurnitureFittingsToolsEquipment 2025-01-31 SC225375 core:MotorVehicles 2025-01-31 SC225375 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 SC225375 core:WithinOneYear 2025-01-31 SC225375 core:WithinOneYear 2024-01-31 SC225375 core:AfterOneYear 2025-01-31 SC225375 core:AfterOneYear 2024-01-31 SC225375 core:ShareCapital 2025-01-31 SC225375 core:ShareCapital 2024-01-31 SC225375 core:RetainedEarningsAccumulatedLosses 2025-01-31 SC225375 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC225375 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-31 SC225375 core:LandBuildings 2024-01-31 SC225375 core:PlantMachinery 2024-01-31 SC225375 core:FurnitureFittingsToolsEquipment 2024-01-31 SC225375 core:MotorVehicles 2024-01-31 SC225375 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2025-01-31 SC225375 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2024-01-31 SC225375 bus:Director1 2024-02-01 2025-01-31 SC225375 bus:SmallEntities 2024-02-01 2025-01-31 SC225375 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 SC225375 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 SC225375 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 SC225375 bus:FullAccounts 2024-02-01 2025-01-31 SC225375 core:ComputerEquipment 2024-02-01 2025-01-31 SC225375 core:LeaseholdImprovements 2024-02-01 2025-01-31
COMPANY REGISTRATION NUMBER: SC225375

Just Hooked Limited

Filleted Unaudited Financial Statements

31 January 2025

Just Hooked Limited

Statement of Financial Position

31 January 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Intangible assets | 5 | 109 | 151
Tangible assets | 6 | 449,534 | 457,913
| --------- | ---------
| 449,643 | 458,064

Current assets

Stocks | 4,782 | 3,707
Debtors | 7 | 29,683 | 19,916
Cash at bank and in hand | 1,285 | 2,577
| -------- | --------
| 35,750 | 26,200

Creditors: amounts falling due within one year | 8 | 213,539 | 194,288
| --------- | ---------
Net current liabilities | 177,789 | 168,088
| --------- | ---------
Total assets less current liabilities | 271,854 | 289,976

Creditors: amounts falling due after more than one year | 9 | 66,831 | 107,025

Provisions

Taxation including deferred tax | 29,961 | 30,418
| --------- | ---------
Net assets | 175,062 | 152,533
| --------- | ---------

Capital and reserves

Called up share capital | 1,000 | 1,000
Profit and loss account | 10 | 174,062 | 151,533
| --------- | ---------
Shareholders funds | 175,062 | 152,533
| --------- | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Just Hooked Limited

Statement of Financial Position (continued)

31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 21 April 2026 , and are signed on behalf of the board by:

Mrs M R Evans
Director

Company registration number: SC225375

Just Hooked Limited

Notes to the Financial Statements

Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Unit 1, 6 Leasgeary Road, Portree, Isle of Skye, IV51 9BE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company made a profit this year and expects to continue making profits going forward. On this basis the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

| Brand development | - | 10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Freehold property | - | 2% straight line
| Plant and machinery | - | 25% straight line
| Office equipment | - | 25% straight line
| Motor vehicles | - | 25% reducing balance

| Computer software | - | 25% straight line
| Tenants improvements | - | 10% straight line

Land is not depreciated.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is then revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).
5. Intangible assets

| Development costs
| £
Cost |
At 1 February 2024 and 31 January 2025 | 3,250
| -------
Amortisation |
At 1 February 2024 | 3,099
Charge for the year | 42
| -------
At 31 January 2025 | 3,141
| -------
Carrying amount |
At 31 January 2025 | 109
| -------
At 31 January 2024 | 151
| -------

6. Tangible assets

| Land and buildings | Plant and machinery | Fixtures, fittings and equipment | Motor vehicles | Tenant improvements | Total
| £ | £ | £ | £ | £ | £
Cost |  |  |  |  |  |
At 1 Feb 2024 | 441,794 | 12,515 | 20,650 | 53,435 | 45,788 | 574,182
Additions | – | – | 3,388 | – | – | 3,388
| --------- | -------- | -------- | -------- | -------- | ---------
At 31 Jan 2025 | 441,794 | 12,515 | 24,038 | 53,435 | 45,788 | 577,570
| --------- | -------- | -------- | -------- | -------- | ---------
Depreciation |  |  |  |  |  |
At 1 Feb 2024 | 19,424 | 11,277 | 20,201 | 26,065 | 39,302 | 116,269
Charge for the year | 1,395 | 584 | 1,127 | 4,082 | 4,579 | 11,767
| --------- | -------- | -------- | -------- | -------- | ---------
At 31 Jan 2025 | 20,819 | 11,861 | 21,328 | 30,147 | 43,881 | 128,036
| --------- | -------- | -------- | -------- | -------- | ---------
Carrying amount |  |  |  |  |  |
At 31 Jan 2025 | 420,975 | 654 | 2,710 | 23,288 | 1,907 | 449,534
| --------- | -------- | -------- | -------- | -------- | ---------
At 31 Jan 2024 | 422,370 | 1,238 | 449 | 27,370 | 6,486 | 457,913
| --------- | -------- | -------- | -------- | -------- | ---------

Investment properties were valued on the basis of market value at £292,880 (2024 - £292,880) by the directors. The historical cost of the properties included at valuation amounted to £174,984 (2024 - £174,984).
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

| Motor vehicles
| £
At 31 January 2025 | 22,886
| --------
At 31 January 2024 | 26,833
| --------

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 25,024 | 14,795
Other debtors | 4,659 | 5,121
| -------- | --------
| 29,683 | 19,916
| -------- | --------

8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 80,874 | 60,863
Trade creditors | 104,059 | 104,164
Corporation tax | 3,385 | 4,361
Social security and other taxes | 7,178 | 4,749
Other creditors | 18,043 | 20,151
| --------- | ---------
| 213,539 | 194,288
| --------- | ---------

The bank holds the following security over loans made to the company:- Standard security over the land at Portree Industrial Estate, Isle of Skye- Bond and floating charge over the whole assets of the company- Postponement of repayment of directors loan
9. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 8,162 | 45,181
Other creditors | 58,669 | 61,844
| -------- | ---------
| 66,831 | 107,025
| -------- | ---------

The bank holds the following security over loans made to the company:- Standard security over the land at Portree Industrial Estate, Isle of Skye- Bond and floating charge over the whole assets of the company- Postponement of repayment of directors loan
The company has a Flexible Business Loan from their bankers which is repaid monthly.
10. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses. The Profit and Loss reserve balance at the year end of £174,062 (2024 - £151,533) includes non-distributable reserves of £106,143 (2024 - £106,143). Non-distributable reserves relate to gains made on the revaluation of the company's investments properties.
11. Related party transactions
At 31 January 2025 the company owed the directors £49,934 (2024 - £47,589), this loan is interest free.