Hescott Holdings Limited 31/12/2021 iXBRL

Hescott Holdings Limited 31/12/2021 iXBRL

HESCOTT HOLDINGS LIMITED - Company Information

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Company registration number: SC392890
Hescott Holdings Limited
Unaudited filleted financial statements
31 December 2021
Hescott Holdings Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Hescott Holdings Limited
Directors and other information
Directors T A Scott
A Hepburn
C T Scott
G J Hepburn
Company number SC392890
Registered office Lochlands Viaduct
Larbert
Stirlingshire
FK5 3NN
Business address Lochlands Viaduct
Larbert
Stirlingshire
FK5 3NN
Accountants Barrie Scott & Co.
16-18 Weir Street
Falkirk
FK1 1RA
Hescott Holdings Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Hescott Holdings Limited
Year ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hescott Holdings Limited for the year ended 31 December 2021 which comprise the statement of financial position, statement of changes in equity and 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 board of directors of Hescott Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Hescott Holdings Limited and state those matters that we have agreed to state to the board of directors of Hescott Holdings Limited as a body, 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 Hescott Holdings Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Hescott Holdings 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 Hescott Holdings Limited. You consider that Hescott Holdings 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 Hescott Holdings 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.
Barrie Scott & Co.
Accountants & Tax Advisers
16-18 Weir Street
Falkirk
FK1 1RA
22 June 2022
Hescott Holdings Limited
Statement of financial position
31 December 2021
2021 2020
Note £ £ £ £
Fixed assets
Investments 5 3,015,020 3,015,020
_______ _______
3,015,020 3,015,020
Creditors: amounts falling due
within one year 6 - ( 19,000)
_______ _______
Net current liabilities - ( 19,000)
_______ _______
Total assets less current liabilities 3,015,020 2,996,020
_______ _______
Net assets 3,015,020 2,996,020
_______ _______
Capital and reserves
Called up share capital 891,000 950,000
Profit and loss account 2,124,020 2,046,020
_______ _______
Shareholders funds 3,015,020 2,996,020
_______ _______
For the year ending 31 December 2021 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.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 June 2002 , and are signed on behalf of the board by:
G J Hepburn
Director
Company registration number: SC392890
Hescott Holdings Limited
Notes to the financial statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Lochlands Viaduct, Larbert, Stirlingshire, FK5 3NN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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
These accounts are prepared on a Going Concern basis. The directors have reviewed the situation regarding the Coronavirus pandemic and are of the opinion that the company has adequate resources to continue for the foreseeable future.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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 paymemts discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2020: 4 ).
5. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 January 2021 and 31 December 2021 3,015,020 3,015,020
_______ _______
Impairment
At 1 January 2021 and 31 December 2021 - -
_______ _______
Carrying amount
At 31 December 2021 3,015,020 3,015,020
_______ _______
At 31 December 2020 3,015,020 3,015,020
_______ _______
6. Creditors: amounts falling due within one year
2021 2020
£ £
Other creditors - 19,000
_______ _______