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Registration number: 04592128

B R Holland & Sons Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

B R Holland & Sons Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

B R Holland & Sons Limited

Company Information

Directors

W Holland

B Holland

Company secretary

Mrs C Holland

Registered office

27 Laxton Gardens
Paddock Wood
Tonbridge
Kent
TN12 6BB

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

B R Holland & Sons Limited

(Registration number: 04592128)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

70,909

63,465

Current assets

 

Stocks

6

500

300

Debtors

7

19,505

28,734

Cash at bank and in hand

 

21,865

27,952

 

41,870

56,986

Creditors: Amounts falling due within one year

8

(57,567)

(60,519)

Net current liabilities

 

(15,697)

(3,533)

Total assets less current liabilities

 

55,212

59,932

Creditors: Amounts falling due after more than one year

8

(13,238)

(8,721)

Net assets

 

41,974

51,211

Capital and reserves

 

Called up share capital

6

6

Retained earnings

41,968

51,205

Shareholders' funds

 

41,974

51,211

For the financial year ending 30 November 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 13 March 2025 and signed on its behalf by:
 

.........................................
B Holland
Director

 

B R Holland & Sons Limited

Notes to the Financial Statements for the Year Ended 30 November 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 is:
27 Laxton Gardens
Paddock Wood
Tonbridge
Kent
TN12 6BB

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 operates and generates taxable income.

 

B R Holland & Sons Limited

Notes to the Financial Statements for the Year Ended 30 November 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

10% reducing balance

Fixture, fittings and equipment

33.3% straight line

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

Goodwill

10% straight line

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 at the transaction price.

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.

 

B R Holland & Sons Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

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 at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

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

 

B R Holland & Sons Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2023

45,000

45,000

At 30 November 2024

45,000

45,000

Amortisation

At 1 December 2023

45,000

45,000

At 30 November 2024

45,000

45,000

Carrying amount

At 30 November 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

1,735

68,010

86,916

156,661

Additions

-

21,000

3,648

24,648

Disposals

-

(7,995)

-

(7,995)

At 30 November 2024

1,735

81,015

90,564

173,314

Depreciation

At 1 December 2023

1,735

45,716

45,746

93,197

Charge for the year

-

10,191

4,482

14,673

Eliminated on disposal

-

(5,465)

-

(5,465)

At 30 November 2024

1,735

50,442

50,228

102,405

Carrying amount

At 30 November 2024

-

30,573

40,336

70,909

At 30 November 2023

1

22,294

41,170

63,465

6

Stocks

2024
£

2023
£

Other inventories

500

300

 

B R Holland & Sons Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

7

Debtors

2024
£

2023
£

Trade debtors

17,773

26,195

Taxation and social security

1,732

2,539

19,505

28,734

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

9

8,500

5,000

Taxation and social security

 

4,597

9,617

Accruals and deferred income

 

1,999

2,001

Other creditors

 

683

424

Director loan account

 

41,788

43,477

 

57,567

60,519

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

13,238

8,721

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

3,905

8,721

Hire purchase contracts

9,333

-

13,238

8,721

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,000

5,000

Hire purchase contracts

3,500

-

8,500

5,000

 

B R Holland & Sons Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

10

Related party transactions

Summary of transactions with other related parties

Abacus Construction Products Limited
Building Equipment Supplies Limited
W Holland is a share holder and director

 Purchases were made during the year on a normal trading basis
 

Expenditure with and payables to related parties

2024

Parent
£

Purchase of goods

7,013

2023

Parent
£

Purchase of goods

10,944