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REGISTERED NUMBER: 03597439 (England and Wales)






















H.B.Holt & Sons Limited

Financial Statements for the Year Ended 30th November 2023






H.B.Holt & Sons Limited (Registered number: 03597439)






Contents of the Financial Statements
for the year ended 30th November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


H.B.Holt & Sons Limited

Company Information
for the year ended 30th November 2023







DIRECTORS: Mrs M Holt
S M Holt



REGISTERED OFFICE: Unit 1
Holt Business Park
Rawcliffe Road
Airmyn
East Yorkshire
DN14 8FE



REGISTERED NUMBER: 03597439 (England and Wales)



AUDITORS: Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA



BANKERS: National Westminster Bank plc,
13 Boothferry Road,
Goole,
East Yorkshire.
DN14 5DG



SOLICITORS: Gosschalks
Queens Gardens
Hull
HU1 3DZ

H.B.Holt & Sons Limited (Registered number: 03597439)

Balance Sheet
30th November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,826,823 1,043,472

CURRENT ASSETS
Stocks 375 375
Debtors 5 3,302,347 2,568,180
Cash at bank 807,589 902,940
4,110,311 3,471,495
CREDITORS
Amounts falling due within one year 6 999,198 952,790
NET CURRENT ASSETS 3,111,113 2,518,705
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,937,936

3,562,177

CREDITORS
Amounts falling due after more than one
year

7

(949,871

)

(118,443

)

PROVISIONS FOR LIABILITIES (307,053 ) (171,795 )
NET ASSETS 3,681,012 3,271,939

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 3,680,912 3,271,839
SHAREHOLDERS' FUNDS 3,681,012 3,271,939

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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th August 2024 and were signed on its behalf by:





S M Holt - Director


H.B.Holt & Sons Limited (Registered number: 03597439)

Notes to the Financial Statements
for the year ended 30th November 2023

1. STATUTORY INFORMATION

H.B.Holt & Sons 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.

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

Going Concern
In forming their going concern assessment, the directors have reviewed the anticipated trading performance over the next 12 months. Having considered this and other available factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of 12 months from the date of approval of these financial statements and have therefore adopted the going concern basis in preparing these financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Haulage services
Turnover from haulage services is recognised when significant risks and rewards have transferred to the customer, the amount can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Short term leasehold- over the lease term
Plant and machinery etc- between 10% and 33% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow moving stock where appropriate.


H.B.Holt & Sons Limited (Registered number: 03597439)

Notes to the Financial Statements - continued
for the year ended 30th November 2023

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

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

Hire purchase and leasing commitments
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate which are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Statement of Comprehensive Income in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2022 - 47 ) .

H.B.Holt & Sons Limited (Registered number: 03597439)

Notes to the Financial Statements - continued
for the year ended 30th November 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st December 2022 173,348 4,004,641 4,177,989
Additions 516,218 659,872 1,176,090
Disposals - (325,606 ) (325,606 )
At 30th November 2023 689,566 4,338,907 5,028,473
DEPRECIATION
At 1st December 2022 - 3,134,517 3,134,517
Charge for year 33,429 313,369 346,798
Eliminated on disposal - (279,665 ) (279,665 )
At 30th November 2023 33,429 3,168,221 3,201,650
NET BOOK VALUE
At 30th November 2023 656,137 1,170,686 1,826,823
At 30th November 2022 173,348 870,124 1,043,472

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 957,209 1,044,940
Amounts owed by group undertakings 1,614,835 1,375,835
Other debtors 212,024 147,405
2,784,068 2,568,180

Amounts falling due after more than one year:
Other debtors 518,279 -

Aggregate amounts 3,302,347 2,568,180

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 218,074 128,294
Trade creditors 377,807 404,716
Taxation and social security 219,653 308,396
Other creditors 183,664 111,384
999,198 952,790

H.B.Holt & Sons Limited (Registered number: 03597439)

Notes to the Financial Statements - continued
for the year ended 30th November 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 431,592 118,443
Other creditors 518,279 -
949,871 118,443

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 300,200 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 649,666 246,737

Hire purchase liabilities are secured over the assets to which the agreements relate.

9. CALLED UP SHARE CAPITAL

The share capital of £100 (2022: £100) is allotted, called up and fully paid.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Lamb FCA CF (Senior Statutory Auditor)
for and on behalf of Smailes Goldie

11. COMMITMENTS, GUARANTEES AND CONTINGENCIES

Total operating lease commitments which are not included in the balance sheet amounted to £1,140,000 (2022: £nil).

12. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements - 400,000

13. ULTIMATE CONTROLLING PARTY

The ultimate parent company is H. B. Holt Holdings Limited, a company registered in England & Wales.

There is no one ultimate controlling party.