Registered number
12754620
Holltow Limited
Filleted Accounts
31 July 2023
Spot On Accounts Ltd
Holden House
Holden Road
Leigh
Lancs
WN7 1EX
Holltow Limited
Registered number: 12754620
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 20,040 26,663
Current assets
Debtors 4 18,907 15,304
Cash at bank and in hand 12,179 14,070
31,086 29,374
Creditors: amounts falling due within one year 5 (21,912) (20,520)
Net current assets 9,174 8,854
Total assets less current liabilities 29,214 35,517
Creditors: amounts falling due after more than one year 6 (8,292) (14,633)
Net assets 20,922 20,884
Capital and reserves
Called up share capital 10 10
Profit and loss account 20,912 20,874
Shareholder's funds 20,922 20,884
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Darren Holland
Director
Approved by the board on 15 January 2024
Holltow Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 1,551 30,335 31,886
At 31 July 2023 1,551 30,335 31,886
Depreciation
At 1 August 2022 612 4,611 5,223
Charge for the year 192 6,431 6,623
At 31 July 2023 804 11,042 11,846
Net book value
At 31 July 2023 747 19,293 20,040
At 31 July 2022 939 25,724 26,663
4 Debtors 2023 2022
£ £
Trade debtors 10,136 15,300
Other debtors 8,771 4
18,907 15,304
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 5,853 5,853
Trade creditors - 144
Taxation and social security costs 14,739 12,565
Other creditors 1,320 1,958
21,912 20,520
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 8,292 14,633
7 Related party transactions 2023 2022
Directors loan account £ £
The director is a related party to the company
At 31st July, the company owed the director the following
short term, interest free, unsecured amounts
repayable on demand:
Amounts due to the releted party (8,767) 806
8 Controlling party
The director is the ultimate controlling party by virtue of his 60% ownership of the issued share capital of the company
9 Other information
Holltow Limited is a private company limited by shares and incorporated in England. Its registered office is:
36 Thanet Grove
Leigh
Lancs
WN7 1JL
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