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REGISTERED NUMBER: 05642791 (England and Wales)




























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

HOLLINGWORTH DESIGN LIMITED

HOLLINGWORTH DESIGN LIMITED (REGISTERED NUMBER: 05642791)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

HOLLINGWORTH DESIGN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P M Hollingworth
Dr K Hyde
T Farnworth





SECRETARY: Mrs J A Hollingworth





REGISTERED OFFICE: Unit 1, Aurora Business Park
Beacon Way
Stockport
Cheshire
SK3 0EF





REGISTERED NUMBER: 05642791 (England and Wales)





ACCOUNTANTS: Hanley & Co
Chartered Accountants
Suite 204 Ashton Old Baths
Stamford Street West
Ashton-under-Lyne
Lancashire
OL6 7FW

HOLLINGWORTH DESIGN LIMITED (REGISTERED NUMBER: 05642791)

ABRIDGED BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,016,791 2,235,532

CURRENT ASSETS
Inventories 783,600 559,511
Debtors 1,333,923 1,307,544
Cash at bank and in hand 19,964 191,012
2,137,487 2,058,067
CREDITORS
Amounts falling due within one year 1,988,904 1,787,422
NET CURRENT ASSETS 148,583 270,645
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,165,374

2,506,177

CREDITORS
Amounts falling due after more than one
year

(514,592

)

(855,496

)

PROVISIONS FOR LIABILITIES (504,198 ) (424,751 )
NET ASSETS 1,146,584 1,225,930

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,146,384 1,225,730
SHAREHOLDERS' FUNDS 1,146,584 1,225,930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

HOLLINGWORTH DESIGN LIMITED (REGISTERED NUMBER: 05642791)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by:





P M Hollingworth - Director


HOLLINGWORTH DESIGN LIMITED (REGISTERED NUMBER: 05642791)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Hollingworth Design 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
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.
Plant and machinery etc - 33% on reducing balance, 20% on reducing balance and 10% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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

HOLLINGWORTH DESIGN LIMITED (REGISTERED NUMBER: 05642791)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 36 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST OR VALUATION
At 1 April 2023 3,206,889
Additions 47,056
At 31 March 2024 3,253,945
DEPRECIATION
At 1 April 2023 971,357
Charge for year 265,797
At 31 March 2024 1,237,154
NET BOOK VALUE
At 31 March 2024 2,016,791
At 31 March 2023 2,235,532

Cost or valuation at 31 March 2024 is represented by:

Totals
£   
Valuation in 2023 401,400
Cost 2,852,545
3,253,945

HOLLINGWORTH DESIGN LIMITED (REGISTERED NUMBER: 05642791)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. PROPERTY, PLANT AND EQUIPMENT - continued

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

Totals
£   
COST OR VALUATION
At 1 April 2023 1,702,829
Transfer to ownership (112,000 )
At 31 March 2024 1,590,829
DEPRECIATION
At 1 April 2023 449,582
Charge for year 181,019
Transfer to ownership (40,320 )
At 31 March 2024 590,281
NET BOOK VALUE
At 31 March 2024 1,000,548
At 31 March 2023 1,253,247

5. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 840,653 1,370,143

6. RELATED PARTY DISCLOSURES

Creditors - amounts falling due within one year includes an interest free directors loan of £140,116 (2023 - £113,894).

Creditors - amounts falling due within one year includes an interest free directors loan of £123 (2023 - £123).

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HOLLINGWORTH DESIGN LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hollingworth Design Limited for the year ended 31 March 2024 which comprise the Abridged Statement of Income and Retained Earnings, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hollingworth Design Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hollingworth Design Limited and state those matters that we have agreed to state to the Board of Directors of Hollingworth Design Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hollingworth Design Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hollingworth Design Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hollingworth Design Limited. You consider that Hollingworth Design Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hollingworth Design Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hanley & Co
Chartered Accountants
Suite 204 Ashton Old Baths
Stamford Street West
Ashton-under-Lyne
Lancashire
OL6 7FW


6 November 2024