Chris Holman Masts and Rigging Limited 02673260 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is the supply and fitting of masts and rigging for sailing vessels. Digita Accounts Production Advanced 6.30.9574.0 true 02673260 2023-08-01 2024-07-31 02673260 2024-07-31 02673260 bus:OrdinaryShareClass1 2024-07-31 02673260 core:RetainedEarningsAccumulatedLosses 2024-07-31 02673260 core:ShareCapital 2024-07-31 02673260 core:CurrentFinancialInstruments 2024-07-31 02673260 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 02673260 core:FurnitureFittingsToolsEquipment 2024-07-31 02673260 core:MotorVehicles 2024-07-31 02673260 bus:SmallEntities 2023-08-01 2024-07-31 02673260 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 02673260 bus:FilletedAccounts 2023-08-01 2024-07-31 02673260 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 02673260 bus:RegisteredOffice 2023-08-01 2024-07-31 02673260 bus:CompanySecretaryDirector1 2023-08-01 2024-07-31 02673260 bus:Director1 2023-08-01 2024-07-31 02673260 bus:Director3 2023-08-01 2024-07-31 02673260 bus:Director4 2023-08-01 2024-07-31 02673260 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 02673260 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 02673260 core:ComputerEquipment 2023-08-01 2024-07-31 02673260 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 02673260 core:MotorVehicles 2023-08-01 2024-07-31 02673260 core:PlantMachinery 2023-08-01 2024-07-31 02673260 countries:England 2023-08-01 2024-07-31 02673260 2023-07-31 02673260 core:FurnitureFittingsToolsEquipment 2023-07-31 02673260 core:MotorVehicles 2023-07-31 02673260 2022-08-01 2023-07-31 02673260 2023-07-31 02673260 bus:OrdinaryShareClass1 2023-07-31 02673260 core:RetainedEarningsAccumulatedLosses 2023-07-31 02673260 core:ShareCapital 2023-07-31 02673260 core:CurrentFinancialInstruments 2023-07-31 02673260 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 02673260 core:FurnitureFittingsToolsEquipment 2023-07-31 02673260 core:MotorVehicles 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02673260

Chris Holman Masts and Rigging Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Chris Holman Masts and Rigging Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Chris Holman Masts and Rigging Limited

Company Information

Directors

Mr C J Holman

Mrs A Holman

Mr A R Culverwell

Mr L B Holman

Company secretary

Mrs A Holman

Registered office

Holman Rigging
Chichester Marina
Chichester
PO20 7EJ

Accountants

MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Chris Holman Masts and Rigging Limited

(Registration number: 02673260)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

126

809

Current assets

 

Stocks

5

23,208

18,502

Debtors

6

(1,414)

1,723

Cash at bank and in hand

 

38,378

35,923

 

60,172

56,148

Creditors: Amounts falling due within one year

7

(22,305)

(24,103)

Net current assets

 

37,867

32,045

Total assets less current liabilities

 

37,993

32,854

Provisions for liabilities

(31)

(154)

Net assets

 

37,962

32,700

Capital and reserves

 

Called up share capital

8

400

400

Retained earnings

37,562

32,300

Shareholders' funds

 

37,962

32,700

 

Chris Holman Masts and Rigging Limited

(Registration number: 02673260)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 August 2024 and signed on its behalf by:
 

.........................................
Mr L B Holman
Director

 

Chris Holman Masts and Rigging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
Holman Rigging
Chichester Marina
Chichester
PO20 7EJ
England

These financial statements were authorised for issue by the Board on 20 August 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.

All figures are presented in British Sterling, which is the functional currency of the company, and are rounded to the nearest £1.

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 and deferred 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.

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.

 

Chris Holman Masts and Rigging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Motor vehicles

25% straight line

Computer equipment

33% straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Chris Holman Masts and Rigging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Chris Holman Masts and Rigging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

25,080

2,400

27,480

At 31 July 2024

25,080

2,400

27,480

Depreciation

At 1 August 2023

24,871

1,800

26,671

Charge for the year

83

600

683

At 31 July 2024

24,954

2,400

27,354

Carrying amount

At 31 July 2024

126

-

126

At 31 July 2023

209

600

809

5

Stocks

2024
£

2023
£

Other inventories

23,208

18,502

6

Debtors

Current

2024
£

2023
£

Trade debtors

(3,515)

(320)

Prepayments

2,101

2,043

 

(1,414)

1,723

 

Chris Holman Masts and Rigging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,196

3,292

Taxation and social security

17,059

18,979

Accruals and deferred income

1,600

1,600

Other creditors

2,450

232

22,305

24,103

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

400

400

400

400