Holly Group Limited 10586224 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is that of a holding company. Digita Accounts Production Advanced 6.30.9574.0 true false true true 10586224 2023-02-01 2024-01-31 10586224 2024-01-31 10586224 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-01-31 10586224 core:RetainedEarningsAccumulatedLosses 2024-01-31 10586224 core:RevaluationReserve 2024-01-31 10586224 core:ShareCapital 2024-01-31 10586224 core:CurrentFinancialInstruments 2024-01-31 10586224 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 10586224 core:Non-currentFinancialInstruments 2024-01-31 10586224 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 10586224 core:AdditionsToInvestments 2024-01-31 10586224 core:CostValuation 2024-01-31 10586224 core:RevaluationsIncreaseDecreaseInInvestments 2024-01-31 10586224 bus:SmallEntities 2023-02-01 2024-01-31 10586224 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10586224 bus:FilletedAccounts 2023-02-01 2024-01-31 10586224 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 10586224 bus:RegisteredOffice 2023-02-01 2024-01-31 10586224 bus:Director1 2023-02-01 2024-01-31 10586224 bus:Director2 2023-02-01 2024-01-31 10586224 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-02-01 2024-01-31 10586224 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10586224 bus:Agent1 2023-02-01 2024-01-31 10586224 core:RevaluationReserve 2023-02-01 2024-01-31 10586224 core:OtherRelatedParties 2023-02-01 2024-01-31 10586224 core:Subsidiary1 2023-02-01 2024-01-31 10586224 core:Subsidiary1 1 2023-02-01 2024-01-31 10586224 core:Subsidiary1 countries:Scotland 2023-02-01 2024-01-31 10586224 countries:EnglandWales 2023-02-01 2024-01-31 10586224 core:CostValuation 2023-01-31 10586224 2022-02-01 2023-01-31 10586224 2023-01-31 10586224 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-01-31 10586224 core:RetainedEarningsAccumulatedLosses 2023-01-31 10586224 core:RevaluationReserve 2023-01-31 10586224 core:ShareCapital 2023-01-31 10586224 core:CurrentFinancialInstruments 2023-01-31 10586224 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 10586224 core:Non-currentFinancialInstruments 2023-01-31 10586224 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 10586224 core:RevaluationReserve 2022-02-01 2023-01-31 10586224 core:Subsidiary1 1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10586224

Holly Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Holly Group Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Holly Group Limited

Company Information

Directors

Mr B Walker

Mrs C A Walker

Registered office

Anson House
Burdon Terrace
Jesmond
Newcastle upon Tyne
Tyne & Wear
NE2 3AE

Accountants

Deans Accountants And Business Advisors Ltd
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

 

DEANS

Chartered Accountants

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Holly Group Limited for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Holly Group Limited for the year ended 31 January 2024 as set out on pages 3 to 8 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 of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/ethics/icas-code-of-ethics.

This report is made solely to the Board of Directors of Holly Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Holly Group Limited and state those matters that we have agreed to state to the Board of Directors of Holly Group Limited, as a body, in this report in accordance with ICAS guidance (www.icas.com/accountsprep/guidance). To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Holly Group Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Holly Group Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Holly Group Limited. You consider that Holly Group 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 accounts of Holly Group 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 accounts.

......................................

Deans Accountants And Business Advisors Ltd
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

18 November 2024

 

Holly Group Limited

(Registration number: 10586224)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1,930,784

1,100,000

Current assets

 

Debtors

5

1,093

1,093

Cash at bank and in hand

 

1,689

61,877

 

2,782

62,970

Creditors: Amounts falling due within one year

6

(50,480)

-

Net current (liabilities)/assets

 

(47,698)

62,970

Total assets less current liabilities

 

1,883,086

1,162,970

Creditors: Amounts falling due after more than one year

6

(809,000)

(809,000)

Net assets

 

1,074,086

353,970

Capital and reserves

 

Called up share capital

7

1,000

1,000

Revaluation reserve

1,070,637

349,903

Retained earnings

2,449

3,067

Shareholders' funds

 

1,074,086

353,970

For the financial year ending 31 January 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 November 2024 and signed on its behalf by:
 

.........................................
Mr B Walker
Director

 

Holly Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Anson House
Burdon Terrace
Jesmond
Newcastle upon Tyne
Tyne & Wear
NE2 3AE
England

The principal place of business is:
Anson House
Burdon Terrace
Jesmond
Newcastle upon Tyne
Tyne & Wear
NE2 3AE
England

These financial statements were authorised for issue by the Board on 18 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company is not directly impacted by Brexit.

The company has suffered financially from the pandemic. Where appropriate, government support in the forms of grants and loans were used to mitigate the impact of lockdowns etc. The directors will continue to assess the impact of the pandemic and make decisions accordingly.

The financial statements are presented in Sterling (£) and rounded to the nearest £0.

Going concern

The financial statements have been prepared on a going concern basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Holly Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Holly Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Investments

2024
£

2023
£

Investments in subsidiaries

1,930,784

1,100,000

Subsidiaries

£

Cost or valuation

At 1 February 2023

1,100,000

Revaluation

720,734

Additions

110,050

At 31 January 2024

1,930,784

Provision

Carrying amount

At 31 January 2024

1,930,784

At 31 January 2023

1,100,000

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Cademuir Engineering Limited

Exchange Place 3
Semple Street
Edinburgh
EH3 8BL

Scotland

Ordinary shares

88%

82%

Subsidiary undertakings

Cademuir Engineering Limited

The principal activity of Cademuir Engineering Limited is the manufacture of tools, dies and fixtures and plastic mouldings.

Revaluation

Investment in subsidiary was revalued at £1,930,784 on 31 December 2023.
The directors have revalued the investment, and the basis of valuation is a percentage of net assets.

 

Holly Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

10

1,093

1,093

   

1,093

1,093

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

50,480

-

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

809,000

809,000

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

1,070,637

1,070,637

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

349,903

349,903

 

Holly Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Redeemable preference shares

809,000

809,000

10

Related party transactions

Summary of transactions with other related parties

Cademuir Engineering Limited
During the year Holly Group Limited undertook transactions totalling £0 (2023: £0) on behalf of Cademuir Engineering Limited. At the year end £1,093 (2023: £1,093) was outstanding in debtors.