Company registration number 05804150 (England and Wales)
ACCRUED HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
ACCRUED HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
ACCRUED HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
629,277
643,850
Investments
4
85,700
85,700
714,977
729,550
Current assets
Debtors
6
297,803
296,823
Cash at bank and in hand
13,179
7,798
310,982
304,621
Creditors: amounts falling due within one year
7
(5,885)
(38,423)
Net current assets
305,097
266,198
Total assets less current liabilities
1,020,074
995,748
Provisions for liabilities
(18,524)
(18,183)
Net assets
1,001,550
977,565
Capital and reserves
Called up share capital
8
700
700
Profit and loss reserves
1,000,850
976,865
Total equity
1,001,550
977,565

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 31 July 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.

The financial statements were approved and signed by the director and authorised for issue on 24 April 2024
D W Cranefield
Director
Company registration number 05804150 (England and Wales)
ACCRUED HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information

Accrued Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Heasandford Industrial Estate, Widow Hill Road, Burnley, Lancashire, BB10 2BQ.

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. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The director is not aware of any material uncertainties affecting the company and considers that the company will have sufficient resources to continue trading for the foreseeable future. As a result the director has continued to adopt the going concern basis in preparing the financial statements.true

1.3
Turnover
Turnover represents amounts receivable for rent and management services provided net of VAT.
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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:

Land and buildings Freehold
2% Straight line
Plant and machinery
15% Reducing balance
Fixtures, fittings & equipment
20% Straight line
Motor vehicles
25% Reducing balance

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.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

ACCRUED HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 3 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities

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.

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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

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

ACCRUED HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
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.

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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2022
750,000
567,020
1,317,020
Additions
-
0
9,110
9,110
At 31 July 2023
750,000
576,130
1,326,130
Depreciation and impairment
At 1 August 2022
215,000
458,170
673,170
Depreciation charged in the year
15,000
8,683
23,683
At 31 July 2023
230,000
466,853
696,853
Carrying amount
At 31 July 2023
520,000
109,277
629,277
At 31 July 2022
535,000
108,850
643,850
ACCRUED HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
4
Fixed asset investments
2023
2022
£
£
Investments in subsidiaries
85,700
85,700
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 August 2022 & 31 July 2023
85,700
Carrying amount
At 31 July 2023
85,700
At 31 July 2022
85,700
5
Subsidiaries

Details of the company's subsidiaries at 31 July 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Accrued Plastic Limited
Heasandford Industrial Estate, Widow Hill Road, Burnley, Lancashire, BB10 2BQ
Ordinary
100.00
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
16,000
-
0
Amounts owed by group undertakings
40,165
55,185
Other debtors
241,638
241,638
297,803
296,823

Other debtors consists amounts due from a company also under the control of the director.

7
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
3,157
507
Other creditors
2,728
37,916
5,885
38,423
ACCRUED HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
70,000
70,000
700
700
9
Contingent liabilities

The company has guaranteed the bank borrowings of its subsidiary company, Accrued Plastic Limited. At 31 July 2023 the total bank borrowings of Accrued Plastic Limited were £92,477 (2022 - £nil).

 

At the balance sheet date, the company also had a contingent liability of £149,887 (2022 - £106,682) in respect of a group VAT registration with Accrued Plastic Limited.

2023-07-312022-08-01false24 April 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityD W Cranefieldfalsefalse058041502022-08-012023-07-31058041502023-07-31058041502022-07-3105804150core:LandBuildings2023-07-3105804150core:OtherPropertyPlantEquipment2023-07-3105804150core:LandBuildings2022-07-3105804150core:OtherPropertyPlantEquipment2022-07-3105804150core:CurrentFinancialInstrumentscore:WithinOneYear2023-07-3105804150core:CurrentFinancialInstrumentscore:WithinOneYear2022-07-3105804150core:CurrentFinancialInstruments2023-07-3105804150core:CurrentFinancialInstruments2022-07-3105804150core:ShareCapital2023-07-3105804150core:ShareCapital2022-07-3105804150core:RetainedEarningsAccumulatedLosses2023-07-3105804150core:RetainedEarningsAccumulatedLosses2022-07-3105804150bus:Director12022-08-012023-07-3105804150core:LandBuildingscore:OwnedOrFreeholdAssets2022-08-012023-07-3105804150core:PlantMachinery2022-08-012023-07-3105804150core:FurnitureFittings2022-08-012023-07-3105804150core:MotorVehicles2022-08-012023-07-31058041502021-08-012022-07-3105804150core:LandBuildings2022-07-3105804150core:OtherPropertyPlantEquipment2022-07-31058041502022-07-3105804150core:LandBuildings2022-08-012023-07-3105804150core:OtherPropertyPlantEquipment2022-08-012023-07-3105804150core:WithinOneYear2023-07-3105804150core:WithinOneYear2022-07-3105804150bus:PrivateLimitedCompanyLtd2022-08-012023-07-3105804150bus:SmallCompaniesRegimeForAccounts2022-08-012023-07-3105804150bus:FRS1022022-08-012023-07-3105804150bus:AuditExemptWithAccountantsReport2022-08-012023-07-3105804150bus:FullAccounts2022-08-012023-07-31xbrli:purexbrli:sharesiso4217:GBP