Registered number
11917649
Holloway Lawn Specialists Limited
Filleted Accounts
30 April 2024
Holloway Lawn Specialists Limited
Registered number: 11917649
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 13,632 17,127
Current assets
Stocks 2,724 4,309
Debtors 4 27,061 17,568
Cash at bank and in hand 40,095 54,453
69,880 76,330
Creditors: amounts falling due within one year 5 (43,007) (58,626)
Net current assets 26,873 17,704
Net assets 40,505 34,831
Capital and reserves
Called up share capital 100 100
Profit and loss account 40,405 34,731
Shareholders' funds 40,505 34,831
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.
D M Holloway
Director
Approved by the board on 8 January 2025
Holloway Lawn Specialists Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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:
Fixtures, fittings, tools and equipment 25% on a 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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 13,500 25,328 38,828
Additions 1,050 - 1,050
At 30 April 2024 14,550 25,328 39,878
Depreciation
At 1 May 2023 4,387 17,314 21,701
Charge for the year 2,541 2,004 4,545
At 30 April 2024 6,928 19,318 26,246
Net book value
At 30 April 2024 7,622 6,010 13,632
At 30 April 2023 9,113 8,014 17,127
4 Debtors 2024 2023
£ £
Trade debtors 26,324 17,053
Other debtors 737 515
27,061 17,568
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 9,825 11,257
Other creditors 33,182 47,369
43,007 58,626
6 Controlling party
The company is controlled by Mr D Holloway on the basis that he together with associates hold 100% of the ordinary issued share capital of the company.
7 Other information
Holloway Lawn Specialists Limited is a private company limited by shares and incorporated in England. Its registered office is:
Pennyweights
Kenley
CR8 5HB
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