Registered number
09443009
R Holgate & Son Limited
Filleted Accounts
28 February 2022
R Holgate & Son Limited
Registered number: 09443009
Balance Sheet
as at 28 February 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 4 1,502 2,002
Current assets
Stocks 1,750 1,900
Debtors 5 814 1,953
Cash at bank and in hand 24,109 59,560
26,673 63,413
Creditors: amounts falling due within one year 6 (14,239) (38,508)
Net current assets 12,434 24,905
Total assets less current liabilities 13,936 26,907
Creditors: amounts falling due after more than one year 7 (10,250) -
Net assets 3,686 26,907
Capital and reserves
Called up share capital 1 1
Profit and loss account 3,685 26,906
Shareholder's funds 3,686 26,907
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Holgate
Director
Approved by the board on 12 September 2022
R Holgate & Son Limited
Notes to the Accounts
for the year ended 28 February 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicle over 4 years
Plant and machinery over 4 years
Computer equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 5 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2021 52,500
At 28 February 2022 52,500
Amortisation
At 1 March 2021 52,500
At 28 February 2022 52,500
Net book value
At 28 February 2022 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2021 35,525 2,750 38,275
At 28 February 2022 35,525 2,750 38,275
Depreciation
At 1 March 2021 33,524 2,749 36,273
Charge for the year 500 - 500
At 28 February 2022 34,024 2,749 36,773
Net book value
At 28 February 2022 1,501 1 1,502
At 28 February 2021 2,001 1 2,002
5 Debtors 2022 2021
£ £
Other debtors 814 1,953
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 3,000 -
Trade creditors 8,723 19,343
Taxation and social security costs 1,562 17,021
Other creditors 954 2,144
14,239 38,508
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 10,250 -
8 Other information
R Holgate & Son Limited is a private company limited by shares and incorporated in England. Its registered office is:
52 Liverpool Old Road
Walmer Bridge
Preston
Lancashire
PR4 5GE
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