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Company registration number: 10349804
HOLLAND & CLAY LIMITED
31 August 2023
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
HOLLAND & CLAY LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
HOLLAND & CLAY LIMITED
DIRECTORS AND OTHER INFORMATION
Directors Mr Z Clay
Mr B P Holland
Company number 10349804
Registered office Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
Business address 2B Vernon Drive
Battlefield Enterprise Park
Shrewsbury
Shropshire
SY1 3TF
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
HOLLAND & CLAY LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HOLLAND & CLAY LIMITED
YEAR ENDED 31 AUGUST 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Holland & Clay Limited for the year ended 31 August 2023 as set out on pages 5 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Holland & Clay Limited, as a body, in accordance with the terms of our engagement letter dated 14 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Holland & Clay Limited and state those matters that we have agreed to state to the board of directors of Holland & Clay Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Holland & Clay Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Holland & Clay 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 Holland & Clay Limited. You consider that Holland & Clay 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 Holland & Clay 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.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
26 October 2023
HOLLAND & CLAY LIMITED
STATEMENT OF FINANCIAL POSITION
31 AUGUST 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 109,859 56,625
_______ _______
109,859 56,625
Current assets
Stock and work-in-progress 21,650 5,000
Debtors 6 87,085 43,746
Cash at bank and in hand 57,512 97,840
_______ _______
166,247 146,586
Creditors: amounts falling due
within one year 7 ( 130,638) ( 106,868)
_______ _______
Net current assets 35,609 39,718
_______ _______
Total assets less current liabilities 145,468 96,343
Creditors: amounts falling due
after more than one year 8 ( 58,522) ( 28,983)
Provisions for liabilities ( 20,873) ( 10,758)
_______ _______
Net assets 66,073 56,602
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 66,071 56,600
_______ _______
Shareholders funds 66,073 56,602
_______ _______
For the year ending 31 August 2023 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 19 October 2023 , and are signed on behalf of the board by:
Mr Z Clay Mr B P Holland
Director Director
Company registration number: 10349804
HOLLAND & CLAY LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31 AUGUST 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 September 2021 2 20,002 20,004
Profit for the year 118,598 118,598
_______ _______ _______
Total comprehensive income for the year - 118,598 118,598
Dividends paid and payable ( 82,000) ( 82,000)
_______ _______ _______
Total investments by and distributions to owners - ( 82,000) ( 82,000)
_______ _______ _______
At 31 August 2022 and 1 September 2022 2 56,600 56,602
Profit for the year 92,271 92,271
_______ _______ _______
Total comprehensive income for the year - 92,271 92,271
Dividends paid and payable ( 82,800) ( 82,800)
_______ _______ _______
Total investments by and distributions to owners - ( 82,800) ( 82,800)
_______ _______ _______
At 31 August 2023 2 66,071 66,073
_______ _______ _______
HOLLAND & CLAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Countrywide House, Knights Way, Shrewsbury, Shropshire, SY1 3AB.
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.
Turnover
Turnover is measured at the value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset over the useful economic life of that asset as follows:
Long leasehold property - 25 % reducing balance
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
Stocks
Stock is included at the lower of cost or estimated selling price less costs to complete and sell on a first in first out basis.
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.
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.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 5 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 18,347 11,247 89,405 118,999
Additions 2,809 1,794 67,261 71,864
Disposals ( 200) ( 150) - ( 350)
_______ _______ _______ _______
At 31 August 2023 20,956 12,891 156,666 190,513
_______ _______ _______ _______
Depreciation
At 1 September 2022 6,910 2,855 52,609 62,374
Charge for the year 1,859 1,347 15,283 18,489
Disposals ( 121) ( 88) - ( 209)
_______ _______ _______ _______
At 31 August 2023 8,648 4,114 67,892 80,654
_______ _______ _______ _______
Carrying amount
At 31 August 2023 12,308 8,777 88,774 109,859
_______ _______ _______ _______
At 31 August 2022 11,437 8,392 36,796 56,625
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 79,500 38,175
Other debtors 7,585 5,571
_______ _______
87,085 43,746
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 26,040 19,551
Trade creditors 41,925 15,021
Corporation tax 9,467 22,608
Social security and other taxes 2,957 1,375
Other creditors 50,249 48,313
_______ _______
130,638 106,868
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 58,522 28,983
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Z Clay ( 19,604) ( 2,492) ( 22,096)
Mr B P Holland ( 18,920) ( 2,429) ( 21,349)
_______ _______ _______
( 38,524) ( 4,921) ( 43,445)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Z Clay ( 7,813) ( 11,791) ( 19,604)
Mr B P Holland ( 7,230) ( 11,690) ( 18,920)
_______ _______ _______
( 15,043) ( 23,481) ( 38,524)
_______ _______ _______