Silverfin false 28/02/2023 01/03/2022 28/02/2023 Charles Holland 03/02/2015 27 November 2023 The principal activity of the Company during the financial year was of software development. SC496650 2023-02-28 SC496650 bus:Director1 2023-02-28 SC496650 2022-02-28 SC496650 core:CurrentFinancialInstruments 2023-02-28 SC496650 core:CurrentFinancialInstruments 2022-02-28 SC496650 core:Non-currentFinancialInstruments 2023-02-28 SC496650 core:Non-currentFinancialInstruments 2022-02-28 SC496650 core:ShareCapital 2023-02-28 SC496650 core:ShareCapital 2022-02-28 SC496650 core:RetainedEarningsAccumulatedLosses 2023-02-28 SC496650 core:RetainedEarningsAccumulatedLosses 2022-02-28 SC496650 core:LandBuildings 2022-02-28 SC496650 core:Vehicles 2022-02-28 SC496650 core:OfficeEquipment 2022-02-28 SC496650 core:ComputerEquipment 2022-02-28 SC496650 core:LandBuildings 2023-02-28 SC496650 core:Vehicles 2023-02-28 SC496650 core:OfficeEquipment 2023-02-28 SC496650 core:ComputerEquipment 2023-02-28 SC496650 2021-02-28 SC496650 bus:OrdinaryShareClass1 2023-02-28 SC496650 2022-03-01 2023-02-28 SC496650 bus:FullAccounts 2022-03-01 2023-02-28 SC496650 bus:SmallEntities 2022-03-01 2023-02-28 SC496650 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 SC496650 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 SC496650 bus:Director1 2022-03-01 2023-02-28 SC496650 core:LandBuildings core:TopRangeValue 2022-03-01 2023-02-28 SC496650 core:Vehicles 2022-03-01 2023-02-28 SC496650 core:OfficeEquipment 2022-03-01 2023-02-28 SC496650 core:ComputerEquipment core:TopRangeValue 2022-03-01 2023-02-28 SC496650 2021-03-01 2022-02-28 SC496650 core:LandBuildings 2022-03-01 2023-02-28 SC496650 core:ComputerEquipment 2022-03-01 2023-02-28 SC496650 core:Non-currentFinancialInstruments 2022-03-01 2023-02-28 SC496650 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 SC496650 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC496650 (Scotland)

HOLLANDTECH LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH THE REGISTRAR

HOLLANDTECH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2023

Contents

HOLLANDTECH LIMITED

BALANCE SHEET

AS AT 28 FEBRUARY 2023
HOLLANDTECH LIMITED

BALANCE SHEET (continued)

AS AT 28 FEBRUARY 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 58,883 50,507
58,883 50,507
Current assets
Debtors 4 54,008 46,690
Cash at bank and in hand 8,936 17,387
62,944 64,077
Creditors: amounts falling due within one year 5 ( 74,357) ( 63,839)
Net current (liabilities)/assets (11,413) 238
Total assets less current liabilities 47,470 50,745
Creditors: amounts falling due after more than one year 6 ( 34,028) ( 40,239)
Provision for liabilities 7 ( 10,252) ( 9,596)
Net assets 3,190 910
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 3,090 810
Total shareholders' funds 3,190 910

For the financial year ending 28 February 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Hollandtech Limited (registered number: SC496650) were approved and authorised for issue by the Director on 27 November 2023. They were signed on its behalf by:

Charles Holland
Director
HOLLANDTECH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2023
HOLLANDTECH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hollandtech Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is High Smithston Farm, High Smithston Farm, Maybole, KA19 7JJ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 25 years straight line
Vehicles 5 % reducing balance
Office equipment 15 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Land and buildings Vehicles Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 March 2022 0 58,024 910 8,099 67,033
Additions 18,454 0 2,890 966 22,310
At 28 February 2023 18,454 58,024 3,800 9,065 89,343
Accumulated depreciation
At 01 March 2022 0 11,605 61 4,860 16,526
Charge for the financial year 431 11,605 194 1,704 13,934
At 28 February 2023 431 23,210 255 6,564 30,460
Net book value
At 28 February 2023 18,023 34,814 3,545 2,501 58,883
At 28 February 2022 0 46,419 849 3,239 50,507

4. Debtors

2023 2022
£ £
Other debtors 54,008 46,690

5. Creditors: amounts falling due within one year

2023 2022
£ £
Corporation tax 17,892 530
Other taxation and social security 293 104
Obligations under finance leases and hire purchase contracts 45,804 51,669
Other creditors 10,368 11,536
74,357 63,839

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 34,028 40,239

There are no amounts included above in respect of which any security has been given by the small entity.

7. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 9,596) 0
Charged to the Profit and Loss Account ( 656) ( 9,596)
At the end of financial year ( 10,252) ( 9,596)

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amounts owed by directors 53,046 45,667