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REGISTERED NUMBER: 05368235 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Holloways of Ludlow Limited

Holloways of Ludlow Limited (Registered number: 05368235)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Holloways of Ludlow Limited

Company Information
for the year ended 30 June 2024







DIRECTOR: M J Holloway



REGISTERED OFFICE: Unit 4 Coder Road
Ludlow Business Park
LUDLOW
Shropshire
SY8 1XE



REGISTERED NUMBER: 05368235 (England and Wales)



ACCOUNTANTS: WR Partners
Chartered Accountants
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG



BANKERS: National Westminster Plc
22 Kings Mall
Hammersmith
London
W6 0QD

Holloways of Ludlow Limited (Registered number: 05368235)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 33,980 109,269
Property, plant and equipment 5 798,285 866,114
Investments 6 - 23
832,265 975,406

CURRENT ASSETS
Inventories 1,117,451 1,275,391
Debtors 7 694,445 944,056
Cash at bank and in hand 115,876 29,337
1,927,772 2,248,784
CREDITORS
Amounts falling due within one year 8 1,561,022 1,737,358
NET CURRENT ASSETS 366,750 511,426
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,199,015

1,486,832

CREDITORS
Amounts falling due after more than
one year

9

(224,871

)

(302,885

)

PROVISIONS FOR LIABILITIES (64,769 ) (68,399 )
NET ASSETS 909,375 1,115,548

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 909,374 1,115,547
SHAREHOLDERS' FUNDS 909,375 1,115,548

Holloways of Ludlow Limited (Registered number: 05368235)

Statement of Financial Position - continued
30 June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 March 2025 and were signed by:





M J Holloway - Director


Holloways of Ludlow Limited (Registered number: 05368235)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Holloways of Ludlow Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Straight line over the life of the lease
Plant and machinery etc - 33% on cost and 20% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.


Holloways of Ludlow Limited (Registered number: 05368235)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 43 ) .

Holloways of Ludlow Limited (Registered number: 05368235)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 65,000 265,623 330,623
AMORTISATION
At 1 July 2023 65,000 156,354 221,354
Charge for year - 75,289 75,289
At 30 June 2024 65,000 231,643 296,643
NET BOOK VALUE
At 30 June 2024 - 33,980 33,980
At 30 June 2023 - 109,269 109,269

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Long and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2023 949,269 152,897 76,746 1,178,912
Additions 2,200 10,689 42,990 55,879
Disposals - - (33,500 ) (33,500 )
At 30 June 2024 951,469 163,586 86,236 1,201,291
DEPRECIATION
At 1 July 2023 171,323 111,815 29,660 312,798
Charge for year 62,267 20,817 14,382 97,466
Eliminated on disposal - - (7,258 ) (7,258 )
At 30 June 2024 233,590 132,632 36,784 403,006
NET BOOK VALUE
At 30 June 2024 717,879 30,954 49,452 798,285
At 30 June 2023 777,946 41,082 47,086 866,114

Holloways of Ludlow Limited (Registered number: 05368235)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

6. FIXED ASSET INVESTMENTS
Interest
in other
participating Other
interests investments Totals
£    £    £   
COST OR VALUATION
At 1 July 2023 1 22 23
Disposals (1 ) (22 ) (23 )
At 30 June 2024 - - -
NET BOOK VALUE
At 30 June 2024 - - -
At 30 June 2023 1 22 23

Cost or valuation at 30 June 2024 is represented by:

Other
investment
£   
Valuation in 2021 533
Valuation in 2022 171,957
Valuation in 2023 (172,468 )
Valuation in 2024 (22 )

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 333,366 569,201
Amounts owed by participating interests 70,450 84,972
Other debtors 290,629 289,883
694,445 944,056

Holloways of Ludlow Limited (Registered number: 05368235)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 83,698 189,467
Hire purchase contracts 9,000 9,000
Trade creditors 1,092,357 1,180,158
Taxation and social security 258,195 268,425
Other creditors 117,772 90,308
1,561,022 1,737,358

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 221,871 290,885
Hire purchase contracts 3,000 12,000
224,871 302,885

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 305,569 395,545

The bank loan is secured against the property.

11. OTHER FINANCIAL COMMITMENTS

At 30th June 2023 the company had annual commitments under non-cancellable operating leases as follows:

20242023
££
Expiry date:
Between one and five years13,20024,600
In over five years366,000328,000
379,200352,600

Holloways of Ludlow Limited (Registered number: 05368235)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in creditors falling due within one year are amounts totalling £607 due to the director of the company (2023 £228), these amounts are repayable on demand. During the year interest was charged on the balance.

13. RELATED PARTY DISCLOSURES

During the year ended 30th June 2019 the company advanced £50,000 to Holloways of Ludlow Design & Build Limited, a company in which Holloways of Ludlow Limited has an interest. No interest was paid on the balance. At 30th June 2024 the balance remained outstanding.