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Registration number: 14019597

Hollycroft Construction (Midlands) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Hollycroft Construction (Midlands) Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 9

 

Hollycroft Construction (Midlands) Ltd

Company Information

Director

Mr Darren Robert Wheatley

Registered office

Enterprise House
Tenlons Road
Nuneaton
Warwickshire
CV10 7HR

Accountants

Sheridan Accounting Solutions Limited Enterprise House
Tenlons Road
Nuneaton
Warwickshire
CV10 7HR

 

Hollycroft Construction (Midlands) Ltd

Director's Report for the Year Ended 30 April 2024

The director presents his report and the financial statements for the year ended 30 April 2024.

Director of the company

The director who held office during the year was as follows:

Mr Darren Robert Wheatley

Principal activity

The principal activity of the company is Development Of Building Projects

Small companies provision statement

This report has 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.

Approved and authorised by the director on 23 January 2025
 

.........................................
Mr Darren Robert Wheatley
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Hollycroft Construction (Midlands) Ltd
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hollycroft Construction (Midlands) Ltd for the year ended 30 April 2024 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Hollycroft Construction (Midlands) Ltd, 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 Hollycroft Construction (Midlands) Ltd and state those matters that we have agreed to state to the Board of Directors of Hollycroft Construction (Midlands) Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hollycroft Construction (Midlands) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hollycroft Construction (Midlands) Ltd 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 of Hollycroft Construction (Midlands) Ltd. You consider that Hollycroft Construction (Midlands) Ltd 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 Hollycroft Construction (Midlands) Ltd. 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.

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

Sheridan Accounting Solutions Limited
Enterprise House
Tenlons Road
Nuneaton
Warwickshire
CV10 7HR

23 January 2025

 

Hollycroft Construction (Midlands) Ltd

(Registration number: 14019597)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

77,013

46,994

Current assets

 

Debtors

6

60,633

26,176

Cash at bank and in hand

 

72,712

53,250

 

133,345

79,426

Creditors: Amounts falling due within one year

7

(103,425)

(90,336)

Net current assets/(liabilities)

 

29,920

(10,910)

Total assets less current liabilities

 

106,933

36,084

Creditors: Amounts falling due after more than one year

7

(60,801)

(32,276)

Net assets

 

46,132

3,808

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

46,131

3,807

Shareholders' funds

 

46,132

3,808

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 23 January 2025
 

.........................................
Mr Darren Robert Wheatley
Director

 

Hollycroft Construction (Midlands) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
Enterprise House
Tenlons Road
Nuneaton
Warwickshire
CV10 7HR
England

These financial statements were authorised for issue by the director on 23 January 2025.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Hollycroft Construction (Midlands) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Hollycroft Construction (Midlands) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

26,611

9,644

 

Hollycroft Construction (Midlands) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

2,995

348

53,295

56,638

Additions

3,501

1,250

87,836

92,587

Disposals

-

-

(53,295)

(53,295)

At 30 April 2024

6,496

1,598

87,836

95,930

Depreciation

At 1 May 2023

300

-

9,344

9,644

Charge for the year

650

400

25,561

26,611

Eliminated on disposal

-

-

(17,338)

(17,338)

At 30 April 2024

950

400

17,567

18,917

Carrying amount

At 30 April 2024

5,546

1,198

70,269

77,013

At 30 April 2023

2,695

348

43,951

46,994

6

Debtors

Current

2024
£

2023
£

Trade debtors

28,793

2,280

Other debtors

31,840

23,896

 

60,633

26,176

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

15,457

7,270

Trade creditors

 

36,684

23,053

Taxation and social security

 

21,488

30,106

Accruals and deferred income

 

29,784

21,713

Other creditors

 

12

8,194

 

103,425

90,336

Creditors: amounts falling due after more than one year

 

Hollycroft Construction (Midlands) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

60,801

32,276

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

60,801

32,276

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

15,457

7,270