Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302024-09-30falseNo description of principal activity2023-10-01false108falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02328857 2023-10-01 2024-09-30 02328857 2022-10-01 2023-09-30 02328857 2024-09-30 02328857 2023-09-30 02328857 2022-10-01 02328857 1 2023-10-01 2024-09-30 02328857 d:Director1 2023-10-01 2024-09-30 02328857 d:Director2 2023-10-01 2024-09-30 02328857 c:MotorVehicles 2023-10-01 2024-09-30 02328857 c:OfficeEquipment 2023-10-01 2024-09-30 02328857 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-01 2024-09-30 02328857 c:CurrentFinancialInstruments 2024-09-30 02328857 c:CurrentFinancialInstruments 2023-09-30 02328857 c:CurrentFinancialInstruments 1 2024-09-30 02328857 c:CurrentFinancialInstruments 1 2023-09-30 02328857 c:CurrentFinancialInstruments 6 2024-09-30 02328857 c:CurrentFinancialInstruments 6 2023-09-30 02328857 c:Non-currentFinancialInstruments 2024-09-30 02328857 c:Non-currentFinancialInstruments 2023-09-30 02328857 c:CurrentFinancialInstruments c:WithinOneYear 2024-09-30 02328857 c:CurrentFinancialInstruments c:WithinOneYear 2023-09-30 02328857 c:Non-currentFinancialInstruments c:AfterOneYear 2024-09-30 02328857 c:Non-currentFinancialInstruments c:AfterOneYear 2023-09-30 02328857 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-09-30 02328857 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-09-30 02328857 c:ShareCapital 2024-09-30 02328857 c:ShareCapital 2023-09-30 02328857 c:ShareCapital 2022-10-01 02328857 c:SharePremium 2023-10-01 2024-09-30 02328857 c:SharePremium 2024-09-30 02328857 c:SharePremium 2023-09-30 02328857 c:SharePremium 2022-10-01 02328857 c:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 02328857 c:RetainedEarningsAccumulatedLosses 2024-09-30 02328857 c:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 02328857 c:RetainedEarningsAccumulatedLosses 2023-09-30 02328857 c:RetainedEarningsAccumulatedLosses 2022-10-01 02328857 d:OrdinaryShareClass1 2023-10-01 2024-09-30 02328857 d:OrdinaryShareClass1 2024-09-30 02328857 d:OrdinaryShareClass1 2023-09-30 02328857 d:OrdinaryShareClass2 2023-10-01 2024-09-30 02328857 d:OrdinaryShareClass2 2024-09-30 02328857 d:OrdinaryShareClass2 2023-09-30 02328857 d:OrdinaryShareClass3 2023-10-01 2024-09-30 02328857 d:OrdinaryShareClass3 2024-09-30 02328857 d:OrdinaryShareClass3 2023-09-30 02328857 d:OrdinaryShareClass4 2023-10-01 2024-09-30 02328857 d:OrdinaryShareClass4 2024-09-30 02328857 d:OrdinaryShareClass4 2023-09-30 02328857 d:FRS102 2023-10-01 2024-09-30 02328857 d:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 02328857 d:FullAccounts 2023-10-01 2024-09-30 02328857 d:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02328857 c:WithinOneYear 2024-09-30 02328857 c:WithinOneYear 2023-09-30 02328857 c:BetweenOneFiveYears 2024-09-30 02328857 c:BetweenOneFiveYears 2023-09-30 02328857 d:Consolidated 2024-09-30 02328857 d:ConsolidatedGroupCompanyAccounts 2023-10-01 2024-09-30 02328857 2 2023-10-01 2024-09-30 02328857 6 2023-10-01 2024-09-30 02328857 f:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02328857









GARLAND HOFF LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
GARLAND HOFF LIMITED
REGISTERED NUMBER: 02328857

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
50,461
30,641

Tangible assets
 6 
24,954
26,157

  
75,415
56,798

Current assets
  

Debtors: amounts falling due within one year
 8 
1,609,068
1,457,266

Cash at bank and in hand
 9 
179,075
293,844

  
1,788,143
1,751,110

Creditors: amounts falling due within one year
 10 
(1,202,390)
(1,095,946)

Net current assets
  
 
 
585,753
 
 
655,164

Total assets less current liabilities
  
661,168
711,962

Creditors: amounts falling due after more than one year
 11 
(195,833)
(238,762)

Provisions for liabilities
  

Net assets
  
465,335
473,200


Capital and reserves
  

Called up share capital 
 13 
93,334
93,334

Share premium account
 14 
206,704
206,704

Profit and loss account
 14 
165,297
173,162

  
465,335
473,200


Page 1

 
GARLAND HOFF LIMITED
REGISTERED NUMBER: 02328857
    
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the consolidated income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 February 2025.




M P Garland
M Hoff
Director
Director

The notes on pages 9 to 20 form part of these financial statements.

Page 2

 
GARLAND HOFF LIMITED
REGISTERED NUMBER: 02328857

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
50,461
30,641

Tangible assets
 6 
24,954
26,157

Investments
 7 
-
4,998

  
75,415
61,796

Current assets
  

Debtors: amounts falling due within one year
 8 
1,609,651
1,457,409

Cash at bank and in hand
 9 
179,075
290,934

  
1,788,726
1,748,343

Creditors: amounts falling due within one year
 10 
(1,202,390)
(1,092,596)

Net current assets
  
 
 
586,336
 
 
655,747

Total assets less current liabilities
  
661,751
717,543

  

Creditors: amounts falling due after more than one year
 11 
(195,833)
(238,762)

  

Net assets
  
465,918
478,781


Capital and reserves
  

Called up share capital 
 13 
93,334
93,334

Share premium account
 14 
206,704
206,704

Profit and loss account
 14 
165,880
178,743

  
465,918
478,781


Page 3

 
GARLAND HOFF LIMITED
REGISTERED NUMBER: 02328857
    
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the consolidated income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 February 2025.




M P Garland
M Hoff
Director
Director

The notes on pages 9 to 20 form part of these financial statements.

Page 4

 
GARLAND HOFF LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 October 2022
93,334
206,704
125,657
425,695


Comprehensive income for the year

Profit for the year
-
-
135,895
135,895


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(88,390)
(88,390)



At 1 October 2023
93,334
206,704
173,162
473,200


Comprehensive income for the year

Profit for the year
-
-
64,135
64,135


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(72,000)
(72,000)


At 30 September 2024
93,334
206,704
165,297
465,335


The notes on pages 9 to 20 form part of these financial statements.

Page 5

 
GARLAND HOFF LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 October 2022
93,334
206,704
141,633
441,671


Comprehensive income for the year

Profit for the year
-
-
125,500
125,500


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(88,390)
(88,390)



At 1 October 2023
93,334
206,704
178,743
478,781


Comprehensive income for the year

Profit for the year
-
-
59,137
59,137


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(72,000)
(72,000)


At 30 September 2024
93,334
206,704
165,880
465,918


The notes on pages 9 to 20 form part of these financial statements.

Page 6

 
GARLAND HOFF LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
64,135
135,895

Adjustments for:

Amortisation of intangible assets
23,092
43,971

Depreciation of tangible assets
15,361
11,688

Interest paid
55,244
15,298

Interest received
(6,830)
13,861

Taxation charge
22,547
37,785

(Increase)/decrease in debtors
(169,922)
152,289

Increase/(decrease) in creditors
249,276
(376,668)

Corporation tax (paid)
(52,476)
(39,049)

Net cash generated from operating activities

200,427
(4,930)


Cash flows from investing activities

Purchase of intangible fixed assets
(42,912)
(32,549)

Purchase of tangible fixed assets
(14,158)
(16,055)

Interest received
6,830
(13,861)

Net cash from investing activities

(50,240)
(62,465)
Page 7

 
GARLAND HOFF LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2024
2023

£
£



Cash flows from financing activities

New secured loans
-
200,000

Repayment of loans
(133,712)
(120,568)

Repayment of other loans
-
(30,000)

Dividends paid
(72,000)
(88,390)

Interest paid
(55,244)
(15,298)

Net cash used in financing activities
(260,956)
(54,256)

Net (decrease) in cash and cash equivalents
(110,769)
(121,651)

Cash and cash equivalents at beginning of year
289,844
411,495

Cash and cash equivalents at the end of year
179,075
289,844


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
179,075
293,844

Bank overdrafts
-
(4,000)

179,075
289,844


The notes on pages 9 to 20 form part of these financial statements.

Page 8

 
GARLAND HOFF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 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 and place of business is Lynx House, Pynes Hill, Exeter, Devon, EX2 5JL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The consolidated financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Income Statement in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Income Statement from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Going concern

Company management and directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, being at least the following 12 months from signing of these financial statements. This is supported by the strong performance seen during the year 2024, which has seen a significant upside in demand. The Company has been well placed to meet and service the additional volume.
As a result, and the Company continuing to receive the full support of its shareholders, the directors believe that it is still appropriate to apply the going concern basis for the foreseeable future.

Page 9

 
GARLAND HOFF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Income Statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover represents the Gross sales for holidays arrangements, recognised on the date of booking basis.

 
2.6

Operating leases: the Group as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 10

 
GARLAND HOFF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.7

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.11

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Group in independently administered funds.

 
2.12

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company and the Group operate and generate income.

Page 11

 
GARLAND HOFF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.13

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Development expenditure
-
4
years

 
2.14

Research and development costs

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives over 4 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.15

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
33%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.16

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 12

 
GARLAND HOFF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.17

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.18

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.19

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.20

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
a) Critical judgments in applying the Group's accounting policies
The directors believe that there are no critical judgments involved in applying the Group's accounting policies that warrant disclosure.
b) Key accounting estimates and assumptions
The directors believe that there are no key accounting estimates and assumptions involved in applying the Group's accounting policies that warrant disclosure.


4.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 8).

Page 13

 
GARLAND HOFF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Intangible assets

Group and Company





Development expenditure

£



Cost


At 1 October 2023
188,534


Additions
42,912



At 30 September 2024

231,446



Amortisation


At 1 October 2023
157,893


Charge for the year on owned assets
23,092



At 30 September 2024

180,985



Net book value



At 30 September 2024
50,461



At 30 September 2023
30,641



Page 14

 
GARLAND HOFF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Tangible fixed assets

Group and Company






Motor vehicles
Office equipment
Total

£
£
£



Cost


At 1 October 2023
16,000
130,702
146,702


Additions
-
14,158
14,158



At 30 September 2024

16,000
144,860
160,860



Depreciation


At 1 October 2023
8,000
112,545
120,545


Charge for the year on owned assets
4,000
11,361
15,361



At 30 September 2024

12,000
123,906
135,906



Net book value



At 30 September 2024
4,000
20,954
24,954



At 30 September 2023
8,000
18,157
26,157

Page 15

 
GARLAND HOFF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Fixed asset investments

Company





Investments in subsidiary companies

£





At 1 October 2023
4,998


Disposals
(4,998)



At 30 September 2024
-





8.


Debtors

Group

Group
Company

Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
1,180,021
1,088,384
1,180,021
1,088,384

Amounts owed by group undertakings
-
-
583
143

Other debtors
361,936
323,165
361,936
323,165

Prepayments and accrued income
67,111
27,597
67,111
27,597

Financial instruments
-
18,120
-
18,120

1,609,068
1,457,266
1,609,651
1,457,409



9.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
179,075
293,844
179,075
290,934

Less: bank overdrafts
-
(4,000)
-
(4,000)

179,075
289,844
179,075
286,934


Page 16

 
GARLAND HOFF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Creditors: Amounts falling due within one year

Group

Group
Company

Company
2024
2023
2024
2023
£
£
£
£

Bank overdrafts
-
4,000
-
4,000

Bank loans
50,000
140,783
50,000
140,783

Trade creditors
1,025,976
878,355
1,025,976
877,443

Corporation tax
22,547
52,476
22,547
50,038

Other taxation and social security
10,047
-
10,047
-

Other creditors
2,779
332
2,779
332

Accruals and deferred income
33,500
20,000
33,500
20,000

Financial instruments
57,541
-
57,541
-

1,202,390
1,095,946
1,202,390
1,092,596



11.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
195,833
238,762
195,833
238,762

195,833
238,762
195,833
238,762


Page 17

 
GARLAND HOFF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

12.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Amounts falling due within one year

Bank loans
50,000
140,783
50,000
140,783


50,000
140,783
50,000
140,783

Amounts falling due 1-2 years

Bank loans
195,833
238,762
195,833
238,762


195,833
238,762
195,833
238,762

Amounts falling due 2-5 years


245,833
379,545
245,833
379,545


Bank loans include a bank loan from Company's bankers HSBC UK Bank Plc amounting to £250,000. The loan was drawn down in August 2024 payable over 5 years term at a fixed rate of 9.9%. This loan is secured by personal gurantees given by the directors of the company limited to £75,000.

Page 18

 
GARLAND HOFF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



43,145 (2023 - 43,145) Ordinary A shares of £1.00 each
43,145
43,145
43,145 (2023 - 43,145) Ordinary B shares of £1.00 each
43,145
43,145
3,522 (2023 - 3,522) Ordinary C shares of £1.00 each
3,522
3,522
3,522 (2023 - 3,522) Ordinary D shares of £1.00 each
3,522
3,522

93,334

93,334



14.


Reserves

Share premium account

Share premium is the amount by which the amount received by the Company for a share issue exceeds its nominal value.

Profit and loss account

The profit and loss account represents the net distributable reserves of the Group at the date of the statement of financial position.


15.


Contingent liabilities

At 30 September 2024, there were contingent liabilities outstanding in respect of counter indemnities given by the Company, in the normal course of business, to the Company's bond insurance obligors in respect of ABTOT travel bonds amounting to £112,500 (2023: £36,000).


16.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group  in an independently administered fund. The pension cost charge represents contributions payable by the Group  to the fund and amounted to £6,186 (2023: £563). Contributions totalling £Nil (2023: £Nil) were payable to the fund at the reporting date.


17.


Charges

On 19 August 2020, there was a fixed and floating charge registered over all assets of the company in favour of HSBC UK Bank Plc registered at companies house.

Page 19

 
GARLAND HOFF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

18.


Commitments under operating leases

At 30 September 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Not later than 1 year
28,200
33,900
28,200
33,900

Later than 1 year and not later than 5 years
28,200
-
28,200
-

56,400
33,900
56,400
33,900


19.Directors' personal guarantees

The company has received a loan from HSBC UK Bank Plc amounting to £250,000. The directors of the company have given personal guarantees to the lender limited to  £75,000.


20.


Related party transactions

Summary of transactions with directors
As at balance sheet date the amount owed to the company by the directors was £88,254 (2023: £79,098).


21.


Post balance sheet events

There have been no significant events affecting the Company since the year end.


22.


Controlling party

In the opinion of the directors there is no ultimate controlling party.

 
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