Registration number:
Handcraft Holding Company Limited
for the Year Ended 30 June 2024
Handcraft Holding Company Limited
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Handcraft Holding Company Limited
Company Information
Director |
Mr David Alan Dodd |
Registered office |
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Accountants |
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Handcraft Holding Company Limited
Director's Report for the Year Ended 30 June 2024
The director presents his report and the financial statements for the year ended 30 June 2024.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is that of a holding company.
Going concern
The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through the continued financial support of the director. The director therefore considers it appropriate to prepare financial statements on a going concern basis. The financial statements do not include any adjustments that would result in the withdrawal of financial support by the company's director.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
.........................................
Mr David Alan Dodd
Director
Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Handcraft Holding Company Limited
for the Year Ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Handcraft Holding Company Limited for the year ended 30 June 2024 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Handcraft Holding Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Handcraft Holding Company Limited and state those matters that we have agreed to state to the Board of Directors of Handcraft Holding Company Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Handcraft Holding Company Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Handcraft Holding Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Handcraft Holding Company Limited. You consider that Handcraft Holding Company Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Handcraft Holding Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ
Handcraft Holding Company Limited
(Registration number: 11947935)
Balance Sheet as at 30 June 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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|
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Current assets |
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Debtors |
- |
|
|
Cash at bank and in hand |
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|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
( |
( |
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
402 |
402 |
|
Retained earnings |
(252,796) |
(327,036) |
|
Shareholders' deficit |
(252,394) |
(326,634) |
For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
......................................... |
Handcraft Holding Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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.
Group accounts not prepared
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.
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.
Handcraft Holding Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 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.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Financial instruments
Staff numbers |
The average number of persons employed by the company during the year, was
Profit before tax |
Arrived at after charging/(crediting)
12 months to |
6 months to |
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Income from shares in group undertakings |
(120,000) |
(82,500) |
Handcraft Holding Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 July 2023 |
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Revaluation |
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At 30 June 2024 |
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Provision |
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Carrying amount |
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At 30 June 2024 |
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At 30 June 2023 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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9-11 Denington Road Denington Industrial Estate, Wellingborough, NN8 2QH United Kingdom |
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Subsidiary undertakings |
Handcraft Manufacturing Limited The principal activity of Handcraft Manufacturing Limited is |
Handcraft Holding Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Debtors |
2024 |
2023 |
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Prepayments |
- |
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- |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Other creditors |
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Due after one year |
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Other non-current financial liabilities |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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|
|
400 |
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400 |
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|
1 |
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1 |
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|
1 |
|
1 |
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|
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Handcraft Holding Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Reserves |
Note |
2024 |
2023 |
|
Distributable reserves |
123,111 |
70,947 |
|
Non-distributable reserves |
(375,907) |
(397,983) |
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(252,796) |
(327,036) |
Financial commitments, guarantees and contingencies |
On 4 July 2024 Santander UK PLC registered a fixed and floating charge over all the property or undertaking of the company.
Related party transactions |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. not to disclose related party transactions with wholly owned subsidiaries within the group.
Transactions with the director |
2024 |
At 1 July 2023 |
Advances to director |
Repayments by director |
At 30 June 2024 |
Loan to director |
( |
|
( |
( |
Interest has been charged at HMRC's beneficial loan interest rates on balances in excess of £10,000. The loan is repayable on demand.