Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10878881 2023-04-01 2024-03-31 10878881 2022-04-01 2023-03-31 10878881 2024-03-31 10878881 2023-03-31 10878881 c:Director1 2023-04-01 2024-03-31 10878881 d:MotorVehicles 2023-04-01 2024-03-31 10878881 d:MotorVehicles 2024-03-31 10878881 d:MotorVehicles 2023-03-31 10878881 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10878881 d:OfficeEquipment 2023-04-01 2024-03-31 10878881 d:OfficeEquipment 2024-03-31 10878881 d:OfficeEquipment 2023-03-31 10878881 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10878881 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10878881 d:CurrentFinancialInstruments 2024-03-31 10878881 d:CurrentFinancialInstruments 2023-03-31 10878881 d:Non-currentFinancialInstruments 2024-03-31 10878881 d:Non-currentFinancialInstruments 2023-03-31 10878881 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10878881 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10878881 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10878881 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10878881 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 10878881 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 10878881 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 10878881 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 10878881 d:ShareCapital 2024-03-31 10878881 d:ShareCapital 2023-03-31 10878881 d:RetainedEarningsAccumulatedLosses 2024-03-31 10878881 d:RetainedEarningsAccumulatedLosses 2023-03-31 10878881 c:FRS102 2023-04-01 2024-03-31 10878881 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10878881 c:FullAccounts 2023-04-01 2024-03-31 10878881 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10878881 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 10878881 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 10878881 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 10878881 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 10878881 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 10878881










HOLCROFT AUTOMOTIVE CONSULTING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
HOLCROFT AUTOMOTIVE CONSULTING LIMITED
REGISTERED NUMBER: 10878881

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,442
20,011

  
5,442
20,011

Current assets
  

Debtors: amounts falling due within one year
 5 
11,314
19,423

Current asset investments
  
-
4,400

Bank and cash balances
  
1,877
21,954

  
13,191
45,777

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(79,267)
(74,099)

Net current liabilities
  
 
 
(66,076)
 
 
(28,322)

Total assets less current liabilities
  
(60,634)
(8,311)

Creditors: amounts falling due after more than one year
 8 
(8,809)
(16,360)

Provisions for liabilities
  

Deferred tax
 11 
-
(5,003)

  
 
 
-
 
 
(5,003)

Net liabilities
  
(69,443)
(29,674)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(69,543)
(29,774)

  
(69,443)
(29,674)


Page 1

 
HOLCROFT AUTOMOTIVE CONSULTING LIMITED
REGISTERED NUMBER: 10878881
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 November 2024.




Mr A Jeff
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
HOLCROFT AUTOMOTIVE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Holcroft Automotive Consulting Limited (register number 10878881) is a private company limited by shares and incorporated in England & Wales.  The registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company ended the period with a profit and loss reserve deficit of £69,543 (2023 : £29,674). This may call into question the company's continued ability to trade. The company continues to be supported financially by the director and this support will remain for the foreseeable future. The director therefore considers it is appropriate for the accounts to be prepared on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
HOLCROFT AUTOMOTIVE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
straight line
Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
HOLCROFT AUTOMOTIVE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are  recognised when paid. Final equity dividends are recognised when approved by the shareholders at  an annual general meeting. 

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
HOLCROFT AUTOMOTIVE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
89,990
11,157
101,147


Additions
-
2,804
2,804



At 31 March 2024

89,990
13,961
103,951



Depreciation


At 1 April 2023
74,993
6,143
81,136


Charge for the year on owned assets
14,997
2,376
17,373



At 31 March 2024

89,990
8,519
98,509



Net book value



At 31 March 2024
-
5,442
5,442



At 31 March 2023
14,997
5,014
20,011


5.


Debtors

2024
2023
£
£


Trade debtors
1,500
3,657

Other debtors
693
2,191

Prepayments and accrued income
634
5,200

Tax recoverable
8,487
8,375

11,314
19,423


Page 6

 
HOLCROFT AUTOMOTIVE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Current asset investments

2024
2023
£
£

Unlisted investments
-
4,400

-
4,400



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
7,550
7,550

Other taxation and social security
-
2

Obligations under finance lease and hire purchase contracts
-
50,615

Other creditors
70,297
14,512

Accruals and deferred income
1,420
1,420

79,267
74,099


Included within other creditors due within one year is a loan from a director, amounting to £70,297 (2023: £14,512).


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
8,809
16,360

8,809
16,360


Page 7

 
HOLCROFT AUTOMOTIVE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
7,550
7,550


7,550
7,550

Amounts falling due 1-2 years

Other loans
7,550
7,550


7,550
7,550

Amounts falling due 2-5 years

Other loans
1,258
8,808


1,258
8,808


16,358
23,908



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
-
50,615

-
50,615

Page 8

 
HOLCROFT AUTOMOTIVE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Deferred taxation




2024


£






At beginning of year
(5,003)


Charged to profit or loss
5,003



At end of year
-

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
(5,003)

-
(5,003)

 
Page 9