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Company registration number: 10349804
HOLLAND & CLAY LIMITED
TRADING AS HOLLAND & CLAY LIMITED
UNAUDITED FILLETED FINANCIAL STATEMENTS
31 August 2024
HOLLAND & CLAY LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
HOLLAND & CLAY LIMITED
DIRECTORS AND OTHER INFORMATION
Directors Mr Z Clay
Mr B P Holland
Company number 10349804
Registered office Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
Business address 2B Vernon Drive
Battlefield Enterprise Park
Shrewsbury
Shropshire
SY1 3TF
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
HOLLAND & CLAY LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HOLLAND & CLAY LIMITED
YEAR ENDED 31ST AUGUST 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Holland & Clay Limited for the year ended 31 August 2024 as set out on pages 5 to 11 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 at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Holland & Clay Limited, as a body, in accordance with the terms of our engagement letter dated 14 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Holland & Clay Limited and state those matters that we have agreed to state to the board of directors of Holland & Clay Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Holland & Clay Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Holland & Clay 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 Holland & Clay Limited. You consider that Holland & Clay 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 Holland & Clay 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.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
28 October 2024
HOLLAND & CLAY LIMITED
STATEMENT OF FINANCIAL POSITION
31ST AUGUST 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 92,502 109,859
_______ _______
92,502 109,859
Current assets
Stocks 16,800 21,650
Debtors 6 65,560 87,085
Cash at bank and in hand 175,240 57,512
_______ _______
257,600 166,247
Creditors: amounts falling due
within one year 7 ( 204,765) ( 131,989)
_______ _______
Net current assets 52,835 34,258
_______ _______
Total assets less current liabilities 145,337 144,117
Creditors: amounts falling due
after more than one year 8 ( 35,156) ( 58,522)
Provisions for liabilities ( 23,125) ( 20,873)
_______ _______
Net assets 87,056 64,722
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 87,054 64,720
_______ _______
Shareholders funds 87,056 64,722
_______ _______
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 21 October 2024 , and are signed on behalf of the board by:
Mr Z Clay Mr B P Holland
Director Director
Company registration number: 10349804
HOLLAND & CLAY LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31ST AUGUST 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 September 2022 2 56,600 56,602
Profit for the year 92,272 92,272
_______ _______ _______
Total comprehensive income for the year - 92,272 92,272
Dividends paid and payable ( 84,152) ( 84,152)
_______ _______ _______
Total investments by and distributions to owners - ( 84,152) ( 84,152)
_______ _______ _______
At 31 August 2023 and 1 September 2023 2 66,073 66,075
Profit for the year 94,181 94,181
_______ _______ _______
Total comprehensive income for the year - 94,181 94,181
Dividends paid and payable ( 73,200) ( 73,200)
_______ _______ _______
Total investments by and distributions to owners - ( 73,200) ( 73,200)
_______ _______ _______
At 31 August 2024 2 87,054 87,056
_______ _______ _______
HOLLAND & CLAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST AUGUST 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Countrywide House, Knights Way, Shrewsbury, Shropshire, SY1 3AB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist.
Stocks
Stock is included at the lower of cost or estimated selling price less costs to complete and sell on a first in first out basis.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 6 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 20,956 12,891 156,665 190,512
Additions 5,191 3,207 - 8,398
_______ _______ _______ _______
At 31 August 2024 26,147 16,098 156,665 198,910
_______ _______ _______ _______
Depreciation
At 1 September 2023 8,648 4,113 67,891 80,652
Charge for the year 2,106 1,457 22,193 25,756
_______ _______ _______ _______
At 31 August 2024 10,754 5,570 90,084 106,408
_______ _______ _______ _______
Carrying amount
At 31 August 2024 15,393 10,528 66,581 92,502
_______ _______ _______ _______
At 31 August 2023 12,308 8,778 88,774 109,860
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 58,836 79,500
Other debtors 6,724 7,585
_______ _______
65,560 87,085
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 28,984 26,040
Trade creditors 78,132 41,925
Corporation tax 36,982 9,467
Social security and other taxes 12,335 2,957
Other creditors 48,332 51,600
_______ _______
204,765 131,989
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 35,156 58,522
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Z Clay ( 22,096) 3,650 ( 18,446)
Mr B P Holland ( 21,349) 3,745 ( 17,604)
_______ _______ _______
( 43,445) 7,395 ( 36,050)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Z Clay ( 19,604) ( 2,492) ( 22,096)
Mr B P Holland ( 18,920) ( 2,429) ( 21,349)
_______ _______ _______
( 38,524) ( 4,921) ( 43,445)
_______ _______ _______