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REGISTERED NUMBER: 03071606 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Holmfields Limited

Holmfields Limited (Registered number: 03071606)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Holmfields Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P E Hill
Mrs J K Hemmings





SECRETARY: Mrs J K Hemmings





REGISTERED OFFICE: 19 Warren Park Way
Enderby
Leicester
LE19 4SA





REGISTERED NUMBER: 03071606 (England and Wales)





ACCOUNTANTS: Carter & Co
19 Warren Park Way
Enderby
Leicester
LE19 4SA

Holmfields Limited (Registered number: 03071606)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 79,073 80,189

CURRENT ASSETS
Stocks 17,388 35,007
Debtors 5 45,872 38,153
Cash at bank and in hand 1,096,650 1,154,955
1,159,910 1,228,115
CREDITORS
Amounts falling due within one year 6 278,600 381,556
NET CURRENT ASSETS 881,310 846,559
TOTAL ASSETS LESS CURRENT
LIABILITIES

960,383

926,748

CREDITORS
Amounts falling due after more than one
year

7

(132,325

)

(84,413

)

PROVISIONS FOR LIABILITIES (17,290 ) (15,236 )
NET ASSETS 810,768 827,099

CAPITAL AND RESERVES
Called up share capital 8 375,024 375,024
Retained earnings 435,744 452,075
SHAREHOLDERS' FUNDS 810,768 827,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Holmfields Limited (Registered number: 03071606)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2024 and were signed on its behalf by:




P E Hill - Director



Mrs J K Hemmings - Director


Holmfields Limited (Registered number: 03071606)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Holmfields Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property- 10 years on straight line basis
Plant & machinery- 7 years on straight line basis
Motor vehicles- 4 years on straight line basis
Fixtures & fittings- 7 years on straight line basis

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Holmfields Limited (Registered number: 03071606)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 179,575 329,120 508,695
Additions 12,341 4,793 17,134
Disposals (5,865 ) - (5,865 )
At 31 December 2023 186,051 333,913 519,964
DEPRECIATION
At 1 January 2023 147,405 281,101 428,506
Charge for year 5,607 10,770 16,377
Eliminated on disposal (3,992 ) - (3,992 )
At 31 December 2023 149,020 291,871 440,891
NET BOOK VALUE
At 31 December 2023 37,031 42,042 79,073
At 31 December 2022 32,170 48,019 80,189

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 39,900 33,293
Prepayments 5,972 4,860
45,872 38,153

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 23,710 36,061
Tax 33,615 39,334
Social security and other taxes 9,837 11,543
VAT 32,623 51,153
Other creditors 58,702 147,467
Directors' current accounts 116,484 92,022
Accrued expenses 3,629 3,976
278,600 381,556

Holmfields Limited (Registered number: 03071606)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 132,325 84,413

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
125,000 Ordinary A shares £1.00 125,000 125,000
240 Ordinary B shares £1.00 24 24
250,000 Redeemable Preference Shares £1.00 250,000 250,000
375,024 375,024

9. RELATED PARTY DISCLOSURES

The company occupies premises owned by the Trust controlled by P E Hill, the company's controlling party and director. During the year, rent of £18,000 (2022 - £18,000) was payable to the trust in respect of these premises. Amounts owed to the Trust totalled £62,256 (2022 - £53,405) as at 31 December 2023.

Preference dividends of £7,500 (2022 - £7,500) have been paid to each of Mr P E Hill and his wife during the year.

Dividends of £50,000 (2022 - £30,213) has been paid to Mrs J Hemmings during the year.

Dividends of £50,000 (2022 - £29,787) has been paid to Mr M Hemmings during the year.

P E Hill has a loan account of £15,446 (2022 - £14,654) and Mrs J Hemmings has a loan account of £101,037 (2022 - £77,368) owed by the company. Interest on these loan accounts of £nil (2022 - £nil) has been charged in the year.

Amounts owed on the loan accounts to members of P E Hill's family total £188,690 (2022 - £124,458) as at 31 December 2023. Interest on these loan accounts of £nil (2022 - £nil) has been charged in the year.