Company Registration No. 12092430 (England and Wales)
Holos Performance Ltd
Unaudited accounts
for the year ended 31 July 2023
Holos Performance Ltd
Unaudited accounts
Contents
Holos Performance Ltd
Company Information
for the year ended 31 July 2023
Directors
Matthew McEntegart
Liam McEntegart
Company Number
12092430 (England and Wales)
Registered Office
20-22 Wenlock Road
London
N1 7GU
Accountants
Milltree Accounting Limited
Mills Farmhouse
Oakley Green Road
WINDSOR
Berkshire
SL4 4QF
Holos Performance Ltd
Statement of financial position
as at 31 July 2023
Intangible assets
63,121
97,432
Cash at bank and in hand
20,943
44,032
Creditors: amounts falling due within one year
(25,323)
(27,584)
Net current assets
94,027
56,678
Total assets less current liabilities
157,148
154,110
Creditors: amounts falling due after more than one year
(28,156)
-
Net assets
128,992
154,110
Called up share capital
1,476
1,476
Share premium
159,524
159,524
Profit and loss account
(32,008)
(6,890)
Shareholders' funds
128,992
154,110
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by
Matthew McEntegart
Director
Company Registration No. 12092430
Holos Performance Ltd
Notes to the Accounts
for the year ended 31 July 2023
Holos Performance Ltd is a private company, limited by shares, registered in England and Wales, registration number 12092430. The registered office is 20-22 Wenlock Road, London, N1 7GU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Intangible fixed assets are included at cost less accumulated amortisation.
Amortisation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives using the straight line method:
Platform development - 3 years.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The company meets its day-to-day working capital requirements through its bank facilities and intra group treasury management. The current economic conditions continue to create uncertainty over (a) the level of demand for the company's products; and (b) the availability of bank finance for the foreseeable future. The company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the company should be able to operate within the level of its current facilities. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The company therefore continues to adopt the going concern basis in preparing its financial statements.
Holos Performance Ltd
Notes to the Accounts
for the year ended 31 July 2023
4
Intangible fixed assets
Other
Charge for the year
49,215
Intangible fixed assets represent platform development costs.
Amounts falling due within one year
Trade debtors
11,616
15,230
Amounts due from group undertakings etc.
84,955
25,000
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
1,167
2,083
Taxes and social security
1,143
-
Loans from directors
13,020
19,120
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
1,476 Ordinary shares of £1 each
1,476
1,476
Holos Performance Ltd
Notes to the Accounts
for the year ended 31 July 2023
9
Transactions with related parties
A director has provided funding to the Company in the form of a directors loan. The loan is unsecured and without any charge on the assets of the Company, is repayable on demand and is non-interest bearing.
10
Post balance sheet events
In August 2023 the company took the decision to discontinue its gym management operation, this will result in a reduction of annual turnover of approximately £123,000.
11
Average number of employees
During the year the average number of employees was 4 (2022: 2).