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REGISTERED NUMBER: 09588166 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st May 2024

for

Holt Assets Limited

Holt Assets Limited (Registered number: 09588166)






Contents of the Financial Statements
for the Year Ended 31st May 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Holt Assets Limited (Registered number: 09588166)

Balance Sheet
31st May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2 2
Investment property 5 855,000 855,000
855,002 855,002

CURRENT ASSETS
Debtors 6 2,573 2,573
Cash at bank 122,704 96,347
125,277 98,920
CREDITORS
Amounts falling due within one year 7 439,809 439,674
NET CURRENT LIABILITIES (314,532 ) (340,754 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

540,470

514,248

CREDITORS
Amounts falling due after more than one year 8 633,560 633,560
NET LIABILITIES (93,090 ) (119,312 )

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings (93,092 ) (119,314 )
SHAREHOLDERS' FUNDS (93,090 ) (119,312 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Holt Assets Limited (Registered number: 09588166)

Balance Sheet - continued
31st May 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th February 2025 and were signed on its behalf by:




R B Holt - Director



J B Holt - Director


Holt Assets Limited (Registered number: 09588166)

Notes to the Financial Statements
for the Year Ended 31st May 2024

1. COMPANY INFORMATION

Holt Assets Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09588166

Registered office: Unit G1, London House
42 Upper Richmond Road West
Mortlake
London
SW14 8DD

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.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Holt Assets Limited (Registered number: 09588166)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

2. ACCOUNTING POLICIES - continued

Going concern
The company has net liabilities as at the balance sheet date but this relates primarily to a connected company loan account for which repayment will not be demanded beyond the ability of the company to repay. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and the company has the full support of the directors. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st June 2023
and 31st May 2024 2
NET BOOK VALUE
At 31st May 2024 2
At 31st May 2023 2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Holt Assets (Holdings) Limited
Registered office: UK
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00

Holt HMO Limited
Registered office: UK
Nature of business: Property investment
%
Class of shares: holding
Ordinary 100.00

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st June 2023
and 31st May 2024 855,000
NET BOOK VALUE
At 31st May 2024 855,000
At 31st May 2023 855,000

Holt Assets Limited (Registered number: 09588166)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

5. INVESTMENT PROPERTY - continued

Investment property is comprised of residential property. During the year, investment property additions of £Nil (2023: £Nil) were recognised, which related to redevelopment work. The fair value of the investment property is deemed to be £855,000 (2023: £855,000) based upon the directors' opinion, which resulted in a fair value loss of £Nil (2023: £Nil) during the period.

The directors made this judgement based upon the market value for comparable properties. A valuation was not carried out by independent professional holding recognised and relevant professional qualifications and experience.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Deferred tax asset 2,573 2,573

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 5,229 4,344
Amounts owed to group undertakings 433,380 433,380
Accrued expenses 1,200 1,950
439,809 439,674

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans - 2-5 years 633,560 633,560

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 633,560 633,560

Creditors falling due after one year includes £633,560 (2023: £633,560) secured by fixed charges against investment property held by OneSavings Bank Plc.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
2 Ordinary 1 2 2

11. RELATED PARTY DISCLOSURES

During the year, the company operated a loan account with Holt Construction Limited; a related party by virtue of common control. At the balance sheet date, the company owed £433,380 (2023: £433,380) to Holt Construction Limited. This balance is included within other creditors and is unsecured, interest-free and repayable-on-demand.

12. ULTIMATE CONTROLLING PARTY

The controlling party is the Directors.