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Registered number: 11835698
Holland Services Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Holland Services Limited for the year ended 29 February 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Holland Services Limited which comprise the Profit and Loss Account, the 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 of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Holland Services Limited , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Holland Services Limited and state those matters that we have agreed to state to the director of Holland Services Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Holland Services Limited and its director as a body for our work or for this report.
It is your duty to ensure that Holland Services 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 profit or loss of Holland Services Limited . You consider that Holland Services 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 Holland Services 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 financial statements.
Signed
21 November 2024
Raven Accounting (West Midlands) Limited
Chartered Certified Accountants
9-11 Stratford Road
Shirley
Solihull
B90 3LU
Page 1
Page 2
Balance Sheet
Registered number: 11835698
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,848 6,998
Tangible Assets 5 410 775
6,258 7,773
CURRENT ASSETS
Debtors 6 10,124 8,672
Cash at bank and in hand 44,471 39,101
54,595 47,773
Creditors: Amounts Falling Due Within One Year 7 (30,226 ) (26,083 )
NET CURRENT ASSETS (LIABILITIES) 24,369 21,690
TOTAL ASSETS LESS CURRENT LIABILITIES 30,627 29,463
PROVISIONS FOR LIABILITIES
Deferred Taxation (102 ) (147 )
NET ASSETS 30,525 29,316
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 30,425 29,216
SHAREHOLDERS' FUNDS 30,525 29,316
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Page 3
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 21 November 2024 and were signed on its behalf by:
Mr C E Holland
Director
21 November 2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Holland Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11835698 . The registered office is 505 Newbold Road, Chesterfield, S41 8AE.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of ten years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 20% on cost
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 11,500
As at 29 February 2024 11,500
Amortisation
As at 1 March 2023 4,502
Provided during the period 1,150
As at 29 February 2024 5,652
Net Book Value
As at 29 February 2024 5,848
As at 1 March 2023 6,998
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2023 1,828
As at 29 February 2024 1,828
Depreciation
As at 1 March 2023 1,053
Provided during the period 365
As at 29 February 2024 1,418
Net Book Value
As at 29 February 2024 410
As at 1 March 2023 775
6. Debtors
2024 2023
£ £
Due within one year
Amounts recoverable on contracts 10,052 8,600
Other debtors 72 72
10,124 8,672
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 48 101
Other creditors 15,036 11,803
Taxation and social security 15,142 14,179
30,226 26,083
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8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 March 2023 147 147
Deferred taxation (45 ) (45 )
Balance at 29 February 2024 102 102
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
51 Ordinary Shares of £ 1 each 51 51
47 Ordinary A shares of £ 1 each 47 47
1 Ordinary B shares of £ 1 each 1 1
1 Ordinary C shares of £ 1 each 1 1
100 100
10. Related Party Transactions
During the year, total dividends of £24,996 (2023 - 24,996) were paid to the director.
The director of the company has loaned the company money which is interest free and repayable on demand. At the end of the year the outstanding amounts totalled £13,692 (2023 - £10,507).
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