Hoof & Hyde Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC355151 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

HOOF & HYDE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

D T Gray

SECRETARY:

Mrs J Gray

REGISTERED OFFICE:

Dilmun

Strathaven Road

East Kilbride

G75 0QZ

REGISTERED NUMBER:

SC355151 (Scotland)

ACCOUNTANTS:

Mark Toma & Company Limited

Chartered Accountants & Business Advisers

48 Nithsdale Road

Glasgow

G41 2AN

FIXED ASSETS

Intangible assets

4

-

4,250

Tangible assets

5

43,422

64,701

43,422

68,951

CURRENT ASSETS

Debtors

6

53,485

43,499

Cash at bank

-

14,626

53,485

58,125

CREDITORS

Amounts falling due within one year

7

76,132

93,039

NET CURRENT LIABILITIES

(22,647

)

(34,914

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20,775

34,037

CREDITORS

Amounts falling due after more than one year

8

(17,795

)

(29,033

)

PROVISIONS FOR LIABILITIES

(8,250

)

(9,612

)

NET LIABILITIES

(5,270

)

(4,608

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(5,370

)

(4,708

)

SHAREHOLDERS' FUNDS

(5,270

)

(4,608

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 July 2020 and were signed by:

D T Gray - Director

1.	STATUTORY INFORMATION

Hoof & Hyde Limited is a private company, limited by shares , registered in Scotland. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost and 10% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

85,000

AMORTISATION

At 1 April 2019

80,750

Charge for year

4,250

At 31 March 2020

85,000

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

4,250

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

101,909

DEPRECIATION

At 1 April 2019

37,207

Charge for year

21,280

At 31 March 2020

58,487

NET BOOK VALUE

At 31 March 2020

43,422

At 31 March 2019

64,702

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

48,245

DEPRECIATION

At 1 April 2019

12,062

Charge for year

12,061

At 31 March 2020

24,123

NET BOOK VALUE

At 31 March 2020

24,122

At 31 March 2019

36,183

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

43,827

43,499

Other debtors

9,658

-

53,485

43,499

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

930

-

Hire purchase contracts

11,239

11,239

Trade creditors

-

12,905

Taxation and social security

40,863

26,732

Other creditors

23,100

42,163

76,132

93,039

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

17,795

29,033

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Bank overdraft

930

-

Hire purchase contracts

29,034

40,272

29,964

40,272

The bank overdraft is secured by personal guarantee by the director for £30,000 and a Bond and Floating charge

over the company's assets. Hire purchase creditors are secured over the assets to which they relate.

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within debtors (2019: creditors) is an amount due by (2019: to) the director.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Hoof & Hyde Limited for the year ended 31 March 2020 which comprise the Statement of

Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Hoof & Hyde Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hoof & Hyde Limited and state those matters that we have agreed to state to the director of Hoof & Hyde Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Hoof & Hyde Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hoof & Hyde Limited. You consider that Hoof & Hyde 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 financial statements of Hoof & Hyde 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 financial statements.

Mark Toma & Company Limited

Chartered Accountants & Business Advisers

48 Nithsdale Road

Glasgow

G41 2AN

6 July 2020