Registered number
02492558
Holman-Wilfley Limited
Unaudited Filleted Accounts
31 August 2024
Holman-Wilfley Limited
Registered number: 02492558
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 637,487 650,232
Current assets
Stocks 339,109 397,773
Debtors 4 306,008 437,752
Cash at bank and in hand 917,792 572,745
1,562,909 1,408,270
Creditors: amounts falling due within one year 5 (374,908) (600,627)
Net current assets 1,188,001 807,643
Total assets less current liabilities 1,825,488 1,457,875
Provisions for liabilities (36,510) (38,250)
Net assets 1,788,978 1,419,625
Capital and reserves
Called up share capital 7,000 7,000
Profit and loss account 1,781,978 1,412,625
Shareholders' funds 1,788,978 1,419,625
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
I N Jones
Director
Approved by the board on 18 November 2024
Holman-Wilfley Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 100 years
Plant and machinery over 25% reducing balance
Fixtures, fittings, tools and equipment over 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 10
3 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 678,688 130,948 20,944 830,580
Additions - 7,382 - 7,382
At 31 August 2024 678,688 138,330 20,944 837,962
Depreciation
At 1 September 2023 77,352 89,783 13,213 180,348
Charge for the year 6,776 11,418 1,933 20,127
At 31 August 2024 84,128 101,201 15,146 200,475
Net book value
At 31 August 2024 594,560 37,129 5,798 637,487
At 31 August 2023 601,336 41,165 7,731 650,232
4 Debtors 2024 2023
£ £
Trade debtors 92,749 259,037
Other debtors 213,259 178,715
306,008 437,752
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 175,885 344,041
Taxation and social security costs 145,559 109,555
Other creditors 53,464 147,031
374,908 600,627
6 Pension commitments
The company has no pension commitments other than to settle monthly payroll pension contributions, normally payable in the subsequent month.
7 Controlling party
The company is not under the control of any one shareholder.
8 Other information
Holman-Wilfley Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Kingfisher Business Park
Arthur Street
Redditch
Worcestershire
B98 8LG
Holman-Wilfley Limited 02492558 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts July 2024 I N Jones No description of principal activity 02492558 2022-09-01 2023-08-31 02492558 core:WithinOneYear 2023-08-31 02492558 core:ShareCapital 2023-08-31 02492558 core:RetainedEarningsAccumulatedLosses 2023-08-31 02492558 2023-09-01 2024-08-31 02492558 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 02492558 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 02492558 bus:Director40 2023-09-01 2024-08-31 02492558 1 2023-09-01 2024-08-31 02492558 2 2023-09-01 2024-08-31 02492558 core:LandBuildings 2023-09-01 2024-08-31 02492558 core:PlantMachinery 2023-09-01 2024-08-31 02492558 core:Vehicles 2023-09-01 2024-08-31 02492558 countries:England 2023-09-01 2024-08-31 02492558 bus:FRS102 2023-09-01 2024-08-31 02492558 bus:FilletedAccounts 2023-09-01 2024-08-31 02492558 2024-08-31 02492558 core:WithinOneYear 2024-08-31 02492558 core:ShareCapital 2024-08-31 02492558 core:RetainedEarningsAccumulatedLosses 2024-08-31 02492558 core:LandBuildings 2024-08-31 02492558 core:PlantMachinery 2024-08-31 02492558 core:Vehicles 2024-08-31 02492558 2023-08-31 02492558 core:LandBuildings 2023-08-31 02492558 core:PlantMachinery 2023-08-31 02492558 core:Vehicles 2023-08-31 iso4217:GBP xbrli:pure