Holderness Energy Group Limited
Registered number: 00182775
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 250,000 250,000
Investments 4 57,500 57,500
307,500 307,500
Current assets
Debtors 5 617,805 597,783
Investments held as current assets 191 180
Cash at bank and in hand 174,283 179,045
792,279 777,008
Creditors: amounts falling due within one year 6 (5,307) (4,559)
Net current assets 786,972 772,449
Net assets 1,094,472 1,079,949
Capital and reserves
Called up share capital 100,000 100,000
Share premium 125,000 125,000
Revaluation reserve 7 237,166 236,116
Profit and loss account 632,306 618,833
Shareholder's funds 1,094,472 1,079,949
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
T. F. Hindley
Director
Approved by the board on 6 September 2024
Holderness Energy Group Limited
Notes to the Accounts
for the year ended 30 June 2024
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Valuation
At 1 July 2023 250,000
At 30 June 2024 250,000
Depreciation
Charge for the year 5,000
Surplus on revaluation (5,000)
At 30 June 2024 -
Net book value
At 30 June 2024 250,000
At 30 June 2023 250,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 52,479 52,479
Cumulative depreciation based on historical cost 39,645 38,595
12,834 13,884
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 July 2023 50,000 7,500 57,500
At 30 June 2024 50,000 7,500 57,500
5 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 617,779 597,779
Other debtors 26 4
617,805 597,783
6 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 3,957 3,209
Other creditors 1,350 1,350
5,307 4,559
7 Revaluation reserve 2024 2023
£ £
At 1 July 2023 236,116 235,066
Gain on revaluation of land and buildings 5,000 5,000
Transfer from profit and loss a/c (3,950) (3,950)
At 30 June 2024 237,166 236,116
8 Related party transactions
Details of transactions with entities that are part of the same group have not been disclosed.
9 Controlling party
The ultimate controlling party is Mr.T. F. Hindley by virtue of the fact that he owns 100% of the company's share capital.
10 Other information
Holderness Energy Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
9-11 Godmans Lane
Kirkella
Hull
HU10 7NX
Holderness Energy Group Limited 00182775 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts April 2024 T. F. Hindley No description of principal activity 00182775 2022-07-01 2023-06-30 00182775 core:RevaluationReserve core:LandBuildings 2022-07-01 2023-06-30 00182775 core:WithinOneYear 2023-06-30 00182775 core:ShareCapital 2023-06-30 00182775 core:SharePremium 2023-06-30 00182775 core:OtherReservesSubtotal 2023-06-30 00182775 core:RetainedEarningsAccumulatedLosses 2023-06-30 00182775 core:RevaluationReserve 2022-06-30 00182775 2023-07-01 2024-06-30 00182775 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 00182775 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 00182775 bus:Director40 2023-07-01 2024-06-30 00182775 1 2023-07-01 2024-06-30 00182775 2 2023-07-01 2024-06-30 00182775 core:LandBuildings 2023-07-01 2024-06-30 00182775 core:RevaluationReserve core:LandBuildings 2023-07-01 2024-06-30 00182775 countries:England 2023-07-01 2024-06-30 00182775 bus:FRS102 2023-07-01 2024-06-30 00182775 bus:FilletedAccounts 2023-07-01 2024-06-30 00182775 2024-06-30 00182775 core:WithinOneYear 2024-06-30 00182775 core:ShareCapital 2024-06-30 00182775 core:SharePremium 2024-06-30 00182775 core:OtherReservesSubtotal 2024-06-30 00182775 core:RetainedEarningsAccumulatedLosses 2024-06-30 00182775 core:LandBuildings 2024-06-30 00182775 core:RevaluationReserve 2024-06-30 00182775 2023-06-30 00182775 core:LandBuildings 2023-06-30 00182775 core:RevaluationReserve 2023-06-30 iso4217:GBP xbrli:pure