Company registration number 01106485 (England and Wales)
HOLCOR LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
HOLCOR LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
HOLCOR LTD
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
39,585
54,471
Investment properties
4
1,050,000
1,050,000
Investments
5
50
-
0
1,089,635
1,104,471
Current assets
Debtors
6
152,078
7,079
Cash at bank and in hand
32,204
23,837
184,282
30,916
Creditors: amounts falling due within one year
7
(670,112)
(502,691)
Net current liabilities
(485,830)
(471,775)
Total assets less current liabilities
603,805
632,696
Creditors: amounts falling due after more than one year
8
(9,024)
(18,318)
Provisions for liabilities
(54,648)
(54,001)
Net assets
540,133
560,377
Capital and reserves
Called up share capital
9
16,699
16,699
Share premium account
8,301
8,301
Profit and loss reserves
515,133
535,377
Total equity
540,133
560,377

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

HOLCOR LTD
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 25 March 2025
Mr L Devenish
Director
Company Registration No. 01106485
HOLCOR LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Holcor Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Lower Downstow, South Brent, Devon, TQ10 9ED.

1.1
Accounting 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, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade and settlement discounts.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% per annum on net book value
Fixtures, fittings & equipment
33% per annum on cost
Motor vehicles
20% per annum on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

HOLCOR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
HOLCOR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023
124,180
Disposals
(4,000)
At 30 June 2024
120,180
Depreciation and impairment
At 1 July 2023
69,709
Depreciation charged in the year
12,286
Eliminated in respect of disposals
(1,400)
At 30 June 2024
80,595
Carrying amount
At 30 June 2024
39,585
At 30 June 2023
54,471
4
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
1,050,000

The valuation of investment properties was made at 30 June 2024 by the director. No depreciation is provided in respect of these properties.

5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
50
-
0
HOLCOR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
5
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in associates
£
Cost or valuation
At 1 July 2023
-
Additions
50
At 30 June 2024
50
Carrying amount
At 30 June 2024
50
At 30 June 2023
-
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
393
35
Other debtors
151,685
7,044
152,078
7,079
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
153,892
14,955
Trade creditors
4,835
7,248
Taxation and social security
4,306
1,971
Other creditors
507,079
478,517
670,112
502,691

Bank loans of £153,892 (2023 14,955) are secured over the assets of the company.

 

Included in other creditors are balances totalling £5,304 (2023 £4,873) relating to amounts owed under hire purchase contracts and finance leases which are secured on the assets concerned.

HOLCOR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,740
8,730
Other creditors
4,284
9,588
9,024
18,318

Bank loans of £4,740 (2023 £8,730) are secured over the assets of the company.

 

Included in other creditors are balances totalling £4,284 (2023 £9,588) relating to amounts owed under hire purchase contracts and finance leases which are secured on the assets concerned.

9
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
99 ordinary shares of £1 each
99
99
Preference share capital
Issued and fully paid
16,600 preference shares of £1 each
16,600
16,600
10
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
402,629
184,779
Non distributable profits in the year
-
217,850
At the end of the year
402,629
402,629
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