Company registration number 07163957 (England and Wales)
HOLLYCROFT FINANCIAL SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
HOLLYCROFT FINANCIAL SERVICES LTD
CONTENTS
Page
Company information
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
HOLLYCROFT FINANCIAL SERVICES LTD
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
15,500
17,500
Tangible assets
4
2,875
3,397
18,375
20,897
Current assets
Debtors
5
27,513
61,250
Cash at bank and in hand
69,312
65,918
96,825
127,168
Creditors: amounts falling due within one year
6
(38,147)
(24,071)
Net current assets
58,678
103,097
Total assets less current liabilities
77,053
123,994
Creditors: amounts falling due after more than one year
7
(68,880)
(102,209)
Provisions for liabilities
(545)
(645)
Net assets
7,628
21,140
Capital and reserves
Called up share capital
2,200
2,200
Share premium account
18,900
18,900
Profit and loss reserves
(13,472)
40
Total equity
7,628
21,140
HOLLYCROFT FINANCIAL SERVICES LTD
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -

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 April 2025 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 member has 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.

The financial statements were approved and signed by the director and authorised for issue on 12 June 2025
Mr J W Glendinning
Director
Company registration number 07163957 (England and Wales)
HOLLYCROFT FINANCIAL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

Hollycroft Financial Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 13 Main Street, Crawcrook, Ryton, Tyne and Wear, NE40 4TX.

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. 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 goods and 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 discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

HOLLYCROFT FINANCIAL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -

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:

Leasehold improvements
over the term of the lease
Fixtures and fittings
20% reducing balance
Computers
33% straight line

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.

1.5
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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

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. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

HOLLYCROFT FINANCIAL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 5 -
2
Employees

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

2025
2024
Number
Number
Total
2
3
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2024 and 30 April 2025
95,000
Amortisation and impairment
At 1 May 2024
77,500
Amortisation charged for the year
2,000
At 30 April 2025
79,500
Carrying amount
At 30 April 2025
15,500
At 30 April 2024
17,500
HOLLYCROFT FINANCIAL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
4
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 May 2024
9,612
6,460
6,990
23,062
Additions
-
0
-
0
846
846
Disposals
-
0
-
0
(1,257)
(1,257)
At 30 April 2025
9,612
6,460
6,579
22,651
Depreciation and impairment
At 1 May 2024
9,612
4,394
5,659
19,665
Depreciation charged in the year
-
0
413
955
1,368
Eliminated in respect of disposals
-
0
-
0
(1,257)
(1,257)
At 30 April 2025
9,612
4,807
5,357
19,776
Carrying amount
At 30 April 2025
-
0
1,653
1,222
2,875
At 30 April 2024
-
0
2,066
1,331
3,397
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
24,512
58,112
Other debtors
3,001
3,138
27,513
61,250
6
Creditors: amounts falling due within one year
2025
2024
£
£
Taxation and social security
638
8,742
Other creditors
37,509
15,329
38,147
24,071
HOLLYCROFT FINANCIAL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 7 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
68,880
102,209

In the year to 30 April 2023 the company received £80,000 from St James' Place Management Services Ltd and is only repayable should the company cease to be an appointed representative. After 3 years 25% is no longer repayable, after 4 years 50% is no longer repayable and after 5 years none is repayable. At the balance sheet date £20,000 is included in creditors within one year as is expected to be recognised as revenue in the next financial year.

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