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REGISTERED NUMBER: 09908661 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

HOLLOWAY AGRI-DRAIN LTD

HOLLOWAY AGRI-DRAIN LTD (REGISTERED NUMBER: 09908661)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


HOLLOWAY AGRI-DRAIN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 December 2023







DIRECTOR: Mr Richard William Holloway





REGISTERED OFFICE: 90 Pershore Road
Evesham
WR11 2PH





REGISTERED NUMBER: 09908661 (England and Wales)





ACCOUNTANTS: Mitchell Glanville Limited
41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX

HOLLOWAY AGRI-DRAIN LTD (REGISTERED NUMBER: 09908661)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,738
Tangible assets 5 119,400 111,024
119,400 112,762

CURRENT ASSETS
Stocks 2,000 2,000
Debtors 6 142 443
2,142 2,443
CREDITORS
Amounts falling due within one year 7 166,748 158,696
NET CURRENT LIABILITIES (164,606 ) (156,253 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(45,206

)

(43,491

)

CREDITORS
Amounts falling due after more than one year 8 (19,182 ) (30,644 )

PROVISIONS FOR LIABILITIES (24,292 ) (20,897 )
NET LIABILITIES (88,680 ) (95,032 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (88,780 ) (95,132 )
SHAREHOLDERS' FUNDS (88,680 ) (95,032 )

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 director acknowledges his 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 director and authorised for issue on 17 September 2024 and were signed by:





Mr Richard William Holloway - Director


HOLLOWAY AGRI-DRAIN LTD (REGISTERED NUMBER: 09908661)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2023

1. STATUTORY INFORMATION

Holloway Agri-Drain Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 5% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

HOLLOWAY AGRI-DRAIN LTD (REGISTERED NUMBER: 09908661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 1,738
Disposals (1,738 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 1,738

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 152,049
Additions 21,556
Disposals (6,230 )
At 31 December 2023 167,375
DEPRECIATION
At 1 January 2023 41,025
Charge for year 8,357
Eliminated on disposal (1,407 )
At 31 December 2023 47,975
NET BOOK VALUE
At 31 December 2023 119,400
At 31 December 2022 111,024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 142 443

HOLLOWAY AGRI-DRAIN LTD (REGISTERED NUMBER: 09908661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 14,119 14,907
Hire purchase contracts 8,307 7,987
Trade creditors 1,042 2,289
Social security and other taxes 148 1,326
VAT 516 6,484
Directors' current accounts 141,296 123,989
Accrued expenses 1,320 1,440
Deferred government grants - 274
166,748 158,696

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 15,402 18,556
Hire purchase contracts 3,780 12,088
19,182 30,644

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr Richard William Holloway
Balance outstanding at start of year (123,989 ) (62,765 )
Amounts advanced 12,246 3,635
Amounts repaid (29,553 ) (64,859 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (141,296 ) (123,989 )

There is no interest payable and no repayment terms.