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Registration number: 13248955

Hollyoaks Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Hollyoaks Holdings Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Hollyoaks Holdings Limited

(Registration number: 13248955)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,076,358

2,044,751

Investments

5

200

200

 

2,076,558

2,044,951

Current assets

 

Debtors

6

160,000

40,000

Cash at bank and in hand

 

1,801

35,972

 

161,801

75,972

Creditors: Amounts falling due within one year

7

(156,930)

(92,357)

Net current assets/(liabilities)

 

4,871

(16,385)

Net assets

 

2,081,429

2,028,566

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

2,081,229

2,028,366

Shareholders' funds

 

2,081,429

2,028,566

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

 

Hollyoaks Holdings Limited

(Registration number: 13248955)
Balance Sheet as at 31 October 2023

.........................................
Mr D P Jarman
Director

 

Hollyoaks Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Hollyoaks Nursery
Pershore Road
Little Comberton
Pershore
WR10 3HF

These financial statements were authorised for issue by the Board on 31 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Hollyoaks Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% on cost

Plant and machinery

25% reducing balance basis

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Hollyoaks Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 6).

 

Hollyoaks Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2022

2,081,174

-

2,081,174

Additions

64,997

11,912

76,909

At 31 October 2023

2,146,171

11,912

2,158,083

Depreciation

At 1 November 2022

36,423

-

36,423

Charge for the year

42,324

2,978

45,302

At 31 October 2023

78,747

2,978

81,725

Carrying amount

At 31 October 2023

2,067,424

8,934

2,076,358

At 31 October 2022

2,044,751

-

2,044,751

Included within the net book value of land and buildings above is £2,067,424 (2022 - £2,044,751) in respect of freehold land and buildings.
 

5

Investments

2023
£

2022
£

Investments in subsidiaries

200

200

Subsidiaries

£

Cost or valuation

At 1 November 2022

200

Provision

Carrying amount

At 31 October 2023

200

At 31 October 2022

200

 

Hollyoaks Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Hayloft Plants Ltd

Hollyoaks Nursery, Pershore Road, Little Comberton, Pershore, WR10 3HF

England

A Ordinary shares

100%

100%

Subsidiary undertakings

Hayloft Plants Ltd

The principal activity of Hayloft Plants Ltd is mail order retail sale of plants and other garden sundries.

6

Debtors

Current

2023
£

2022
£

Other debtors

160,000

40,000

 

Hollyoaks Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

127,714

73,062

Taxation and social security

 

29,216

19,295

 

156,930

92,357

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

A Ordinary shares of £0.10 each

1,000

100

1,000

100

B Ordinary shares of £0.10 each

1,000

100

1,000

100

 

2,000

200

2,000

200

9

Related party transactions

Summary of transactions with all subsidiaries

Hayloft Plants Ltd
 During the year, Hollyoaks Holdings Ltd charged rent of £120,000 (2022 : £70,000) to Hayloft Plants Ltd. At the year end, Hayloft Plants Ltd owed Hollyoaks Holdings Ltd £120,000 of this, in addition to the £40,000 still outstanding from the year ending 31 October 2022.

During the year, Hayloft Plants Ltd recharged property building costs of £60,224 (2022 : £73,063) to Hollyoaks Holdings Ltd. This balance, as well as the balance at the previous year end, was outstanding at the year end.

 

 

Hollyoaks Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

10

Non adjusting events after the financial period

On 31 July 2024, the company's subsidiary, Hayloft Plants Limited, sold its trade and assets to a third party. On that date, the third party signed a lease to become the new tenant of Hollyoak Nursery, and intends to continue to trade from the premises for the foreseeable future.