HOLBROOK CONTRACT FURNISHING LTD
Registered number: 02747415
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 32,140 31,823
Current assets
Stocks 121,750 36,750
Debtors 4 3,546,671 2,574,104
Cash at bank and in hand 366,390 649,566
4,034,811 3,260,420
Creditors: amounts falling due within one year 5 (1,311,790) (993,576)
Net current assets 2,723,021 2,266,844
Net assets 2,755,161 2,298,667
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,755,061 2,298,567
Shareholders' funds 2,755,161 2,298,667
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
James Clarke
Director
Approved by the board on 12 August 2024
HOLBROOK CONTRACT FURNISHING LTD
Notes to the Accounts
for the year ended 31 December 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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance basis
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 January 2023 74,236
Additions 11,030
At 31 December 2023 85,266
Depreciation
At 1 January 2023 42,413
Charge for the year 10,713
At 31 December 2023 53,126
Net book value
At 31 December 2023 32,140
At 31 December 2022 31,823
4 Debtors 2023 2022
£ £
Trade debtors 3,136,615 2,124,194
Other debtors 410,056 449,910
3,546,671 2,574,104
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 8,933 16,558
Trade creditors 692,100 545,267
Taxation and social security costs 610,758 395,970
Other creditors (1) 35,781
1,311,790 993,576
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Peter Clarke
Repayable on demand 262,686 61,587 (294,803) 29,470
James Clarke
Repayable on demand 106,009 258,792 (154,992) 209,809
Ann Clarke
Repayable on demand - 32,577 (31,930) 647
368,695 352,956 (481,725) 239,926
Interest is chargeable each April the 5th on the average balance during the year to that date.
This is charged at the official rate of interest, 2% for the years to 5/4/24 and 5/4/23.
7 Related party transactions
Greyface Property Ltd ('GPL') is a related party to Holbrook Contract Furnishing Ltd ('HCFL') by dint of both companies having the same directors and shareholders. At 31/12/23 GPL owed £170,229 (31/12/22 £202,877) to HCFL as an unsecured interest free loan repayable on demand. During the year to 31/12/23 GPL let commercial property to HCFL at a rent totalling £84,000 (31/12/22 £84,000).
8 Other information
HOLBROOK CONTRACT FURNISHING LTD is a private company limited by shares and incorporated in England. Its registered office is:
7 Ormside Way
Redhill
RH1 2LW
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