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REGISTERED NUMBER: 04170372 (England and Wales)










Hollingsworth Bros. (UK) Limited

Financial Statements

for the Year Ended 30 April 2024






Hollingsworth Bros. (UK) Limited (Registered number: 04170372)






Contents of the Financial Statements
for the year ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Hollingsworth Bros. (UK) Limited

Company Information
for the year ended 30 April 2024







DIRECTORS: Mr S R E Hollingsworth
Mr J P Hollingsworth
Mr H Hughes
Mr M C Steen





SECRETARY: Mr S R E Hollingsworth





REGISTERED OFFICE: Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN





REGISTERED NUMBER: 04170372 (England and Wales)





AUDITORS: Salisbury & Company Business Solutions Limited
Statutory Auditors
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Hollingsworth Bros. (UK) Limited (Registered number: 04170372)

Balance Sheet
30 April 2024

2024 2023
(Unaudited)
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 864,035 927,154
Investments 5 - 76
864,035 927,230

CURRENT ASSETS
Debtors 6 756,321 2,014,779
Cash at bank 1,717,260 963,407
2,473,581 2,978,186
CREDITORS
Amounts falling due within one year 7 1,589,160 1,575,066
NET CURRENT ASSETS 884,421 1,403,120
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,748,456

2,330,350

CREDITORS
Amounts falling due after more than one year 8 (113,804 ) (202,498 )

PROVISIONS FOR LIABILITIES (215,335 ) (178,618 )
NET ASSETS 1,419,317 1,949,234

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 1,419,207 1,949,124
SHAREHOLDERS' FUNDS 1,419,317 1,949,234

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





Mr S R E Hollingsworth - Director


Hollingsworth Bros. (UK) Limited (Registered number: 04170372)

Notes to the Financial Statements
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Hollingsworth Bros. (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover, derived from the principle activity, is calculated on the basis of the value of the work executed during the period, excluding retentions.

Tangible fixed assets
Plant and machinery 15% reducing balance
Fixtures and fittings 15% reducing balance
Motor vehicles 25% reducing balance
JCB and dumpers 25% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Hollingsworth Bros. (UK) Limited (Registered number: 04170372)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Retentions
Retention recognition policy follows that of BIM51520, whereby the recognition of retentions is deferred until their receipt becomes virtually certain.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost.

Provisions for liabilities
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

Employee benefits
Short term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Long-term contracts
Profit on long-term contracts is recognised as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses.

Contract costs are recognised as the higher of actual cost to date or costs as a proportion of final costs, using the reference of turnover to date as a proportion of final turnover.

Revenues derived from variations on contracts are recognised only when they have been accepted by the customer.

Full provision is made for losses on all contracts in the year in which they are first foreseen.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 37 ) .

Hollingsworth Bros. (UK) Limited (Registered number: 04170372)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 416,495 2,013,703 2,430,198
Additions - 179,087 179,087
Disposals (336,495 ) (83,527 ) (420,022 )
At 30 April 2024 80,000 2,109,263 2,189,263
DEPRECIATION
At 1 May 2023 405,799 1,097,245 1,503,044
Charge for year 8,000 229,100 237,100
Eliminated on disposal (336,495 ) (78,421 ) (414,916 )
At 30 April 2024 77,304 1,247,924 1,325,228
NET BOOK VALUE
At 30 April 2024 2,696 861,339 864,035
At 30 April 2023 10,696 916,458 927,154

The Company has entered into a Debenture agreement with a bank. Under this Debenture, the bank holds a Fixed and Floating Charge over all assets of the Company.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2023 719,728
Additions 158,087
At 30 April 2024 877,815
DEPRECIATION
At 1 May 2023 203,267
Charge for year 151,261
At 30 April 2024 354,528
NET BOOK VALUE
At 30 April 2024 523,287
At 30 April 2023 516,461

Hollingsworth Bros. (UK) Limited (Registered number: 04170372)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023 76
Disposals (76 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 76

A group re-structure took place during the year. As a result, the Company disposed of its investment in Hollingsworth Ellery (UK) Limited.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
(Unaudited)
£    £   
Trade debtors 563,644 1,682,029
Amounts owed by group undertakings 67,053 -
Amounts owed by associates - 6,000
Other debtors 125,624 326,750
756,321 2,014,779

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
(Unaudited)
£    £   
Hire purchase contracts 213,821 191,424
Trade creditors 1,199,895 1,163,032
Amounts owed to group undertakings - 54,800
Taxation and social security 152,912 135,645
Other creditors 22,532 30,165
1,589,160 1,575,066

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
(Unaudited)
£    £   
Hire purchase contracts 113,804 202,498

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Aled Roberts (Senior Statutory Auditor)
for and on behalf of Salisbury & Company Business Solutions Limited

Hollingsworth Bros. (UK) Limited (Registered number: 04170372)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

10. RELATED PARTY DISCLOSURES

During the year, the company invoiced amounts totalling £224,130 (2023: £897,339) to Hollingsworth Ellery (UK) Limited, a subsidiary company, for services. The company also invoiced £168,000 (2023: £224,000) for management fees and £30,450 for utilities (2023: £23245).

As at the year end, the company was owed £67,053 from (2023: £54,800 owed to) Hollingsworth Ellery (UK) Limited.

During the year the company paid rent of £20,514 (2023: £20,514) to Hollingsworth Bros (UK) Limited SSAS pension fund. This is for the use of the head office building.

11. ULTIMATE CONTROLLING PARTY

Ultimate control of the company lies with the Trustees of the HG Employee Ownership Trust.