Registered number
SC536254
HOLLAND HAULAGE AND PLANT LTD
Filleted Accounts
31 May 2024
HOLLAND HAULAGE AND PLANT LTD
Registered number: SC536254
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 189,221 81,276
Current assets
Debtors 4 237,618 228,006
Cash at bank and in hand 20,733 33,004
258,351 261,010
Creditors: amounts falling due within one year 5 (200,611) (148,670)
Net current assets 57,740 112,340
Total assets less current liabilities 246,961 193,616
Creditors: amounts falling due after more than one year 7 (78,986) (3,087)
Provisions for liabilities (35,952) (15,442)
Net assets 132,023 175,087
Capital and reserves
Called up share capital 100 100
Profit and loss account 131,923 174,987
Shareholders' funds 132,023 175,087
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.
H Holland
Director
Approved by the board on 27 January 2025
HOLLAND HAULAGE AND PLANT LTD
Notes to the Accounts
for the year ended 31 May 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 14 14
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 39,191 115,050 154,241
Additions 66,500 88,750 155,250
At 31 May 2024 105,691 203,800 309,491
Depreciation
At 1 June 2023 10,438 62,527 72,965
Charge for the year 19,051 28,254 47,305
At 31 May 2024 29,489 90,781 120,270
Net book value
At 31 May 2024 76,202 113,019 189,221
At 31 May 2023 28,753 52,523 81,276
4 Debtors 2024 2023
£ £
Trade debtors 220,416 179,941
Other debtors 17,202 48,065
237,618 228,006
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 17
Obligations under finance lease and hire purchase contracts 46,911 12,350
Trade creditors 105,483 73,499
Taxation and social security costs 40,478 53,845
Other creditors 7,739 8,959
200,611 148,670
6 Directors loan account
Included in other creditors is the sum of £7546.50 (£8923.30 - 2023)
for Directors loan accounts which is repayable on request.
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 78,986 3,087
8 Deferred tax 2022 2021
£ £
B/fwd 15,442 13,002
Charged to profit and loss 20,510 2,440
Charged to other comprehensive income - -
35,952 15,442
9 Related party transactions
Included in other debtors is the sum of £2475.20 (2023 - £-48064.95) due by J & W Holland LLP, the business is connected by Mr J Holland being a partner in this business. All transactions during the year have been treated on a strictly commercial basis.
Included in trade creditors is the sum of £31990.06 (2023 - £32468.80) due to 4B Recycling Ltd, the business is connected by Mr H J Holland being a director and shareholder in this business. All transactions during the year have been treated on a strictly commercial basis.
10 Other information
HOLLAND HAULAGE AND PLANT LTD is a private company limited by shares and incorporated in Scotland. Its registered office is:
14 B Garrell Road
Kilsyth
Glasgow
G65 9JX
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