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Registration number: 04190191

Holland & Harris Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Holland & Harris Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Holland & Harris Limited

Company Information

Directors

E Daffonchio

P Giacchero

Company secretary

Laggan Secretaries Limited

Registered office

5th Floor, North Side
7/10 Chandos Street
Cavendish Square
London
W1G 9DQ

 

Holland & Harris Limited

(Registration number: 04190191)
Balance Sheet as at 31 December 2024

Note

2024

2023

Fixed assets

 

Intangible assets

4

217

689

Tangible assets

5

2,579

3,115

Investments

6

22,760

49,160

 

25,556

52,964

Current assets

 

Stocks

66,151

-

Debtors

7

379,417

511,600

Cash at bank and in hand

 

433,172

835,254

 

878,740

1,346,854

Creditors: Amounts falling due within one year

8

(218,483)

(737,441)

Net current assets

 

660,257

609,413

Total assets less current liabilities

 

685,813

662,377

Creditors: Amounts falling due after more than one year

8

(250,000)

(250,000)

Net assets

 

435,813

412,377

Capital and reserves

 

Called up share capital

117,776

117,776

Retained earnings

318,037

294,601

Shareholders' funds

 

435,813

412,377

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 February 2025 and signed on its behalf by:
 

.........................................
E Daffonchio
Director

 

Holland & Harris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
5th Floor, North Side
7/10 Chandos Street
Cavendish Square
London
W1G 9DQ
United Kingdom

These financial statements were authorised for issue by the Board on 19 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

The preparation of financial statements in compliance with FRS 102 requires the directors to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are innitially recognised at the rate of exchange ruling at the date of the transaction.
At the end of each reporting period, foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical costs are translated at the rate ruling at the date of the transaction. All differences are charged to profit and loss account.

 

Holland & Harris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line

Equipment, fixtures & fittings

20% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trademark

20% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Holland & Harris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Holland & Harris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors,loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 Recognition and measurement
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in Profit or Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Holland & Harris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Trademarks, patents and licenses
 €

Total

Cost or valuation

At 1 January 2024

12,106

12,106

At 31 December 2024

12,106

12,106

Amortisation

At 1 January 2024

11,417

11,417

Amortisation charge

472

472

At 31 December 2024

11,889

11,889

Carrying amount

At 31 December 2024

217

217

At 31 December 2023

689

689

5

Tangible assets

Office equipment

Other tangible assets
 €

Total

Cost or valuation

At 1 January 2024

7,924

1,840

9,764

Additions

1,187

-

1,187

At 31 December 2024

9,111

1,840

10,951

Depreciation

At 1 January 2024

4,809

1,840

6,649

Charge for the year

1,723

-

1,723

At 31 December 2024

6,532

1,840

8,372

Carrying amount

At 31 December 2024

2,579

-

2,579

At 31 December 2023

3,115

-

3,115

 

Holland & Harris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Investments

2024

2023

Unlisted investments

1,160

1,160

Investments in associates

21,600

48,000

22,760

49,160

Unlisted Investments

Cost

At 1 January 2024

1,160

Provision

Carrying amount

At 31 December 2024

1,160

At 31 December 2023

1,160

Associates

Cost

At 1 January 2024

48,000

Revaluation

(26,400)

At 31 December 2024

21,600

Provision

Carrying amount

At 31 December 2024

21,600

At 31 December 2023

48,000

7

Debtors

Current

2024

2023

Trade debtors

178,391

424,177

Prepayments

311

1,827

Other debtors

200,715

85,596

 

379,417

511,600

 

Holland & Harris Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

2024

2023

Due within one year

Trade creditors

150,041

16,953

Taxation and social security

10,338

72,836

Accruals and deferred income

52,793

97,170

Other creditors

5,311

550,482

218,483

737,441

Creditors: amounts falling due after more than one year

2024

2023

Due after one year

Other non-current financial liabilities

250,000

250,000

9

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are pensions of €506 (2023 - €482). The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to €2,541 (2023: €2,474).

10

Related party transactions

Summary of transactions with other related parties

At the balance sheet date, the balance oustanding of short term loan due to a director and shareholder was €200,000 (2023: €753,008), The loan is interest free and repayable on demand.

At the balance sheet date, the balance due to a company under common control was €50,000 (2023: €50,000).

During the year, the Company has been provided with other legal and professional services worth of €Nil (2023: €Nil) from companies under common control.

At the balance sheet date, the amount due to a director was of €Nil (2023: €4,601).

11

Parent and ultimate parent undertaking

The ultimate controlling party is Antony David Janse Van Vuuren.