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REGISTERED NUMBER: 09365077 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Holemaker Technology Ltd

Holemaker Technology Ltd (Registered number: 09365077)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Holemaker Technology Ltd (Registered number: 09365077)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 324,279 180,587

CURRENT ASSETS
Stocks 824,319 933,332
Debtors 5 1,141,484 1,099,958
Cash at bank 662,323 504,572
2,628,126 2,537,862
CREDITORS
Amounts falling due within one year 6 (777,781 ) (936,523 )
NET CURRENT ASSETS 1,850,345 1,601,339
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,174,624

1,781,926

CREDITORS
Amounts falling due after more than one
year

7

(174,362

)

(64,270

)

PROVISIONS FOR LIABILITIES (53,070 ) (45,146 )
NET ASSETS 1,947,192 1,672,510

CAPITAL AND RESERVES
Called up share capital 124 124
Retained earnings 1,947,068 1,672,386
SHAREHOLDERS' FUNDS 1,947,192 1,672,510

Holemaker Technology Ltd (Registered number: 09365077)

Balance Sheet - continued
31 December 2023


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

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

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 June 2024 and were signed on its behalf by:




Mr P Crane - Director



Mr H Crane - Director


Holemaker Technology Ltd (Registered number: 09365077)

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

1. STATUTORY INFORMATION

Holemaker Technology Ltd is a private company, limited by shares, registered in England, registration number 09365077. The registered office is Bridge House, Pattenden Lane, Marden, Kent, TN12 9QJ.

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.

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 represents net invoiced sales of goods in respect of specialist cutting and drilling tools, excluding value added tax. Sales are recognised at the point at which the goods are delivered.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 33% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all
tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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

Holemaker Technology Ltd (Registered number: 09365077)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is
determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 52,822 300,638 353,460
Additions - 251,584 251,584
Disposals - (13,858 ) (13,858 )
At 31 December 2023 52,822 538,364 591,186
DEPRECIATION
At 1 January 2023 10,719 162,154 172,873
Charge for year 13,153 88,881 102,034
Eliminated on disposal - (8,000 ) (8,000 )
At 31 December 2023 23,872 243,035 266,907
NET BOOK VALUE
At 31 December 2023 28,950 295,329 324,279
At 31 December 2022 42,103 138,484 180,587

Holemaker Technology Ltd (Registered number: 09365077)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 89,104
Additions 225,789
Transfer to ownership (14,497 )
At 31 December 2023 300,396
DEPRECIATION
At 1 January 2023 32,551
Charge for year 51,640
Transfer to ownership (14,497 )
At 31 December 2023 69,694
NET BOOK VALUE
At 31 December 2023 230,702
At 31 December 2022 56,553

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 641,197 616,399
Amounts owed by group undertakings 208,025 187,483
Other debtors 292,262 296,076
1,141,484 1,099,958

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 143,617 236,798
Hire purchase contracts 62,651 15,437
Trade creditors 295,763 281,618
Taxation and social security 146,510 175,545
Other creditors 129,240 227,125
777,781 936,523

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 13,180 23,982
Hire purchase contracts 161,182 40,288
174,362 64,270

Holemaker Technology Ltd (Registered number: 09365077)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 156,797 260,780
Hire purchase contracts 223,833 55,725
380,630 316,505

Bank loans are secured by way of fixed charge.

Hire purchase contracts are secured on the assets to which they relate.

9. RELATED PARTY DISCLOSURES

Other related parties

At the year end the company was owed £38,945 (2022: £28,712) by family members.

10. ULTIMATE PARENT ENTITY

Holemaker Technology Holdings Limited is registered in England under registration number 12913225. The registered office is Bridge House, Pattenden Lane, Marden, Kent, England, TN12 9QJ.