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REGISTERED NUMBER: 04063411 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Holsworthy Limited

Holsworthy Limited (Registered number: 04063411)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Holsworthy Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: J R Carter





REGISTERED OFFICE: Rumwell Hall
Rumwell
Taunton
Somerset
TA4 1EL





REGISTERED NUMBER: 04063411 (England and Wales)





ACCOUNTANTS: GSS Accountants Limited
Rumwell Hall
Rumwell
Taunton
Somerset
TA4 1EL

Holsworthy Limited (Registered number: 04063411)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 319,490 331,707

CURRENT ASSETS
Stocks 179,889 179,889
Debtors 5 186,899 183,866
Cash at bank 10,131 -
376,919 363,755
CREDITORS
Amounts falling due within one year 6 116,366 121,542
NET CURRENT ASSETS 260,553 242,213
TOTAL ASSETS LESS CURRENT
LIABILITIES

580,043

573,920

CREDITORS
Amounts falling due after more than one
year

7

(31,019

)

(36,575

)

PROVISIONS FOR LIABILITIES (112,461 ) (111,874 )
NET ASSETS 436,563 425,471

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 435,563 424,471
436,563 425,471

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

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

The director acknowledges his 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.

Holsworthy Limited (Registered number: 04063411)

Balance Sheet - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2024 and were signed by:





J R Carter - Director


Holsworthy Limited (Registered number: 04063411)

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

1. STATUTORY INFORMATION

Holsworthy 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.
Mobile home - 10% on reducing balance
Forecourt equipment - 10% on reducing balance
Workshop equipment - 10% on reducing balance
Office equipment - 33% on cost and 10% on reducing balance
Coaches - 15% on reducing balance
Cars and other vehicles - 15% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Holsworthy Limited (Registered number: 04063411)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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 18 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Mobile Forecourt Workshop
home equipment equipment
£    £    £   
COST
At 1 November 2022 3,750 33,299 61,035
Additions - - 2,280
At 31 October 2023 3,750 33,299 63,315
DEPRECIATION
At 1 November 2022 3,415 32,137 47,739
Charge for year 34 116 1,558
At 31 October 2023 3,449 32,253 49,297
NET BOOK VALUE
At 31 October 2023 301 1,046 14,018
At 31 October 2022 335 1,162 13,296

Cars and
Office other
equipment Coaches vehicles Totals
£    £    £    £   
COST
At 1 November 2022 72,891 1,276,970 18,100 1,466,045
Additions 1,789 - - 4,069
At 31 October 2023 74,680 1,276,970 18,100 1,470,114
DEPRECIATION
At 1 November 2022 55,335 981,199 14,513 1,134,338
Charge for year 2,614 11,918 46 16,286
At 31 October 2023 57,949 993,117 14,559 1,150,624
NET BOOK VALUE
At 31 October 2023 16,731 283,853 3,541 319,490
At 31 October 2022 17,556 295,771 3,587 331,707

Holsworthy Limited (Registered number: 04063411)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 48,690 37,984
Other debtors 138,209 145,882
186,899 183,866

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 61,946 69,463
Trade creditors 23,063 32,742
Taxation and social security 8,418 7,627
Other creditors 22,939 11,710
116,366 121,542

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 31,019 36,575

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,796 14,352

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 56,390 63,907
Bank loans 36,575 42,131
92,965 106,038