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Registered number: 10476645










JOLODA HYDRAROLL HOLDINGS LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
JOLODA HYDRAROLL HOLDINGS LIMITED
 
 
COMPANY INFORMATION


Directors
M. Dematteis 
W. Satijn 




Registered number
10476645



Registered office
1 De Havilland Drive
Speke

Liverpool

Merseyside

L24 8RN




Independent auditor
Langtons Professional Services Limited
Chartered Accountants & Statutory Auditor

11th Floor, The Plaza

100 Old Hall Street

Liverpool

L3 9QJ





 
JOLODA HYDRAROLL HOLDINGS LIMITED
 

CONTENTS



Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 7
Statement of comprehensive income
8
Statement of financial position
9
Statement of changes in equity
10
Notes to the financial statements
11 - 15


 
JOLODA HYDRAROLL HOLDINGS LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2023

Business review
 
The company is an intermediate holding company carrying out no trade of its own. Accordingly a full strategic review is deemed inappropriate and instead the users attention is drawn to the full strategic review contained within its parent, Joloda Hydraroll Group Limited.

Directors' statement of compliance with duty to promote the success of the Company
 
This section aims to address the responsibility of the Directors of the Group acting in good faith, to be promoting the success for the benefit of its members as its whole. The Directors and Senior management of Joloda Hydraroll Holdings Limited give careful consideration to the factors set out below in discharging their duties.
Attention is drawn to the statements contained within both Joloda Hydraroll Group Limited and Joloda Hydraroll Limited.


This report was approved by the board on 28 September 2023 and signed on its behalf.







M. Dematteis
Director

Page 1

 
JOLODA HYDRAROLL HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2023

The directors present their report and the financial statements for the year ended 31 March 2023.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal activity

The company is a non-trading intermediate holding company.

Results and dividends

The profit for the year, after taxation, amounted to £5,000,000 (2022 - £2,500,000).

The directors recommend a payment of a dividend of £5,000,000 to be made.

Directors

The directors who served during the year were:

M. Dematteis 
A. McAndrew (resigned 7 October 2022)
W. Satijn 

Page 2

 
JOLODA HYDRAROLL HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Auditor

The auditor, Langtons Professional Services Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 28 September 2023 and signed on its behalf.
 







M. Dematteis
Director

Page 3

 
JOLODA HYDRAROLL HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOLODA HYDRAROLL HOLDINGS LIMITED
 

Opinion

We have audited the financial statements of Joloda Hydraroll Holdings Limited (the 'Company') for the year ended 31 March 2023, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the Company's affairs as at 31 March 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and  our Auditor's report thereon.  The directors are responsible for the other information contained within the Annual Report.  Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated.  If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.  If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 4

 
JOLODA HYDRAROLL HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOLODA HYDRAROLL HOLDINGS LIMITED (CONTINUED)


Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' responsibilities statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Page 5

 
JOLODA HYDRAROLL HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOLODA HYDRAROLL HOLDINGS LIMITED (CONTINUED)


Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit, in respect to fraud, are:
• to identify and assess the risks of material misstatement of the financial statements due to fraud;
• to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and
• to respond appropriately to fraud or suspected fraud identified during the audit.
However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.
Our approach was as follows:
• We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those that relate to the reporting framework (FRS 102 and the Companies Act 2006), the relevant tax compliance regulations in the UK and the EU General Data Protection Regulation (GDPR).
• We understood how the Company is complying with those frameworks by making enquiries of management. Through consideration of the results of our audit procedures we were able to either corroborate or provide contrary evidence which was then followed up.
• Based on our understanding we designed our audit procedures to identify non-compliance with laws and regulations. Our procedures involved:
enquiries of management; and
journal entry testing, with a focus on manual journals indicating large or unusual transactions based on our understanding of the business.
• We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur by meeting with management to understand where it considered there was susceptibility to fraud. We also considered performance targets and their propensity to influence efforts made by management to manage revenue and earnings. Where the risk was considered to be higher, including areas impacting key performance indicators or management remuneration, we performed audit procedures to address each identified fraud risk or other risk of material misstatement. These procedures included those on revenue recognition detailed above, the assessment of items identified by management as non-recurring and testing manual journals and were designed to provide reasonable assurance that the financial statements were free from material fraud or error.
 
Page 6

 
JOLODA HYDRAROLL HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOLODA HYDRAROLL HOLDINGS LIMITED (CONTINUED)



A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.






Stephen Talbot (Senior statutory auditor)
  
for and on behalf of
Langtons Professional Services Limited
 
Chartered Accountants
Statutory Auditor
  
11th Floor, The Plaza
100 Old Hall Street
Liverpool
L3 9QJ

28 September 2023
Page 7

 
JOLODA HYDRAROLL HOLDINGS LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2023

2023
2022
Note
£
£

  

Income from shares in group undertakings
  
5,000,000
2,500,000

Profit before tax
  
5,000,000
2,500,000

Profit for the financial year
  
5,000,000
2,500,000

There were no recognised gains and losses for 2023 or 2022 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2023 (2022:£NIL).

The notes on pages 11 to 15 form part of these financial statements.

Page 8

 
JOLODA HYDRAROLL HOLDINGS LIMITED
REGISTERED NUMBER: 10476645

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 7 
7,000,020
7,000,020

  
7,000,020
7,000,020

Current assets
  

Debtors: amounts falling due within one year
 8 
1,564,797
-

Cash at bank and in hand
 9 
1
1

  
1,564,798
1

Creditors: amounts falling due within one year
 10 
(7,616,018)
(6,051,221)

Net current liabilities
  
 
 
(6,051,220)
 
 
(6,051,220)

Total assets less current liabilities
  
948,800
948,800

  

Net assets
  
948,800
948,800


Capital and reserves
  

Called up share capital 
 12 
893,983
893,983

Profit and loss account
 13 
54,817
54,817

  
948,800
948,800


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 September 2023.






M. Dematteis
Director

The notes on pages 11 to 15 form part of these financial statements.

Page 9

 
JOLODA HYDRAROLL HOLDINGS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 April 2021
893,983
54,817
948,800


Comprehensive income for the year

Profit for the year
-
2,500,000
2,500,000
Total comprehensive income for the year
-
2,500,000
2,500,000


Contributions by and distributions to owners

Dividends: Equity capital
-
(2,500,000)
(2,500,000)


Total transactions with owners
-
(2,500,000)
(2,500,000)



At 1 April 2022
893,983
54,817
948,800


Comprehensive income for the year

Profit for the year
-
5,000,000
5,000,000


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
5,000,000
5,000,000


Contributions by and distributions to owners

Dividends: Equity capital
-
(5,000,000)
(5,000,000)


Total transactions with owners
-
(5,000,000)
(5,000,000)


At 31 March 2023
893,983
54,817
948,800


The notes on pages 11 to 15 form part of these financial statements.

Page 10

 
JOLODA HYDRAROLL HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Joloda Hydraroll Holdings Limited is a private limited liability company, limited by shares registered in England and Wales within the  United  Kingdom.  The  registered  office  is  1 De Havilland Drive, Speke,   Liverpool,  L24 8RN  and the company number is 10476645.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

 
2.3

Going concern

The company has only group liabilities and has no requirement for external funding. The directors have a reasonable  expectation  that  the  group  has  adequate  resources  to  continue  in  operational existence for the foreseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 11

 
JOLODA HYDRAROLL HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The directors believe that due to the simple nature of transactions within the company, that no judgments are necessary for accounting policies or estimation uncertainty.


4.


Employees

Staff costs, including directors' remuneration, were as follows:


2023
2022
£
£

Wages and salaries
-
419,748

-
419,748


The average monthly number of employees during the year was as follows:


        2023
        2022
            No.
            No.





0
0

Page 12

 
JOLODA HYDRAROLL HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Directors' remuneration

2023
2022
£
£

Directors' emoluments
-
419,748

Company contributions to defined contribution pension schemes
-
27,490

-
447,238


During the year retirement benefits were accruing to 3 directors (2022 - 3) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £NIL (2022 - £152,806).

The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £NIL (2022 - £6,000).


6.


Dividends

2023
2022
£
£


Dividends declared
5,000,000
2,500,000

5,000,000
2,500,000


7.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
7,000,020



At 31 March 2023
7,000,020




Page 13

 
JOLODA HYDRAROLL HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Joloda Hydraroll Limited
England and Wales
Ordinary
100
Joloda B.V.
Netherlands
Ordinary
100
Joloda Conveyor Services Limited
England and Wales
Ordinary
100
Joloda GmbH
Germany
Ordinary
100
Joloda South America Comercio Brazil De Equipamentos Para Movimentacao De Cargos LTDA
Brazil
Ordinary
100
Joloda LLC
United States of America
Ordinary
70
Blackrock Engineering Limited
England and Wales
Ordinary
100
Hydraroll Limited
England and Wales
Ordinary
100
Loading Automation Inc
United States of America
Ordinary
80
Joloda SAS
France
Ordinary
100
Joloda KK
Japan
Ordinary
100


8.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
1,564,797
-

1,564,797
-



9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1
1

1
1



10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
7,616,018
6,051,221

7,616,018
6,051,221


Page 14

 
JOLODA HYDRAROLL HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1
1

Financial assets that are debt instruments measured at amortised cost
1,564,797
-

1,564,798
1


Financial liabilities


Financial liabilities measured at amortised cost
(7,616,018)
(6,051,221)


Financial assets measured at fair value through profit or loss comprise cash in hand.


Financial assets that are debt instruments measured at amortised cost comprise group debtors.


Financial liabilities measured at amortised cost comprise group creditors.


12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



893,983 (2022 - 893,983) Ordinary shares of £1.00 each
893,983
893,983



13.


Reserves

Profit and loss account

The profit and loss account contains all profits and losses made to date, less dividends declared.


14.


Related party transactions

The company has taken advantage of the exemption under paragraph 33.1A of FRS 102 and has not disclosed transactions with other wholly owned group companies.


15.


Controlling party

The company is a subsidiary of Joloda Hydraroll Group Limited, a company incorporated in England and Wales.  Consolidated financial statements are prepared by Joloda Hydraroll Group Limited and filed at Companies House.
The controlling party of the company are the directors of Joloda Hydraroll Group Limited.

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