Company registration number 01106485 (England and Wales)
HOLCOR LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
HOLCOR LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HOLCOR LTD
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
54,471
51,677
Investment properties
4
1,050,000
785,000
1,104,471
836,677
Current assets
Debtors
5
7,079
10,652
Cash at bank and in hand
23,837
25,566
30,916
36,218
Creditors: amounts falling due within one year
6
(502,691)
(471,399)
Net current liabilities
(471,775)
(435,181)
Total assets less current liabilities
632,696
401,496
Creditors: amounts falling due after more than one year
7
(18,318)
(42,010)
Provisions for liabilities
(54,001)
(5,112)
Net assets
560,377
354,374
Capital and reserves
Called up share capital
8
16,699
16,699
Share premium account
8,301
8,301
Profit and loss reserves
535,377
329,374
Total equity
560,377
354,374

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

HOLCOR LTD
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023
30 June 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 24 November 2023
Mr L Devenish
Director
Company Registration No. 01106485
HOLCOR LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information

Holcor Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Lower Downstow, South Brent, Devon, TQ10 9ED.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
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 and other sales related taxes. The fair value of consideration takes into account trade and settlement discounts.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% per annum on net book value
Fixtures, fittings & equipment
33% per annum on cost
Motor vehicles
20% per annum on cost

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.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

HOLCOR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022
108,544
Additions
15,636
At 30 June 2023
124,180
Depreciation and impairment
At 1 July 2022
56,867
Depreciation charged in the year
12,842
At 30 June 2023
69,709
Carrying amount
At 30 June 2023
54,471
At 30 June 2022
51,677
HOLCOR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 5 -
4
Investment property
2023
£
Fair value
At 1 July 2022
785,000
Revaluations
265,000
At 30 June 2023
1,050,000

The valuation of investment properties was made at 30 June 2023 by the director. No depreciation is provided in respect of these properties.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
35
1,125
Other debtors
7,044
9,527
7,079
10,652
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
14,955
13,778
Trade creditors
7,248
7,666
Taxation and social security
1,971
2,207
Other creditors
478,517
447,748
502,691
471,399

Bank loans of £14,955 (2022 13,778) are secured over the assets of the company.

 

Included in other creditors are balances totalling £4,873 (2022 £4,478) relating to amounts owed under hire purchase contracts and finance leases which are secured on the assets concerned.

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
8,730
27,550
Other creditors
9,588
14,460
18,318
42,010
HOLCOR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
7
Creditors: amounts falling due after more than one year
(Continued)
- 6 -

Bank loans of £8,730 (2022 £27,550) are secured over the assets of the company.

 

Included in other creditors are balances totalling £9,588 (2022 £14,460) relating to amounts owed under hire purchase contracts and finance leases which are secured on the assets concerned.

8
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
99 ordinary shares of £1 each
99
99
Preference share capital
Issued and fully paid
16,600 preference shares of £1 each
16,600
16,600
9
Non-distributable profits reserve
2023
2022
£
£
At the beginning of the year
184,779
184,779
Non distributable profits in the year
217,850
-
At the end of the year
402,629
184,779
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