Registration number: 01537682

Holbro Engineering Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 12

Holbro Engineering Limited

Company Information

Directors

Mr Stephen Allan Tilling Mrs Stephanie Marie Greenhalgh

Registered office

Copse Hill Works Kilbane Street Fleetwood Lancashire FY7 7PF

Accountants

Crossley & Davis Chartered Accountants Ground Floor, Seneca House Links Point, Amy Johnson Way Blackpool Lancashire FY4 2FF

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Holbro Engineering Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Holbro Engineering Limited for the year ended 31 December 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Holbro Engineering 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 Holbro Engineering Limited and state those matters that we have agreed to state to the Board of Directors of Holbro Engineering Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Holbro Engineering Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Holbro Engineering 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 Holbro Engineering Limited. You consider that Holbro Engineering 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 Holbro Engineering 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.

......................................

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

5 September 2025

Holbro Engineering Limited

(Registration number: 01537682)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	1,233,840	1,330,379
Current assets
Stocks	5	120,353	141,864
Debtors	6	172,535	258,115
Cash at bank and in hand		124,974	(1,610)
		417,862	398,369
Creditors: Amounts falling due within one year	7	(211,798)	(354,059)
Net current assets		206,064	44,310
Total assets less current liabilities		1,439,904	1,374,689
Creditors: Amounts falling due after more than one year	7	(11,029)	(39,858)
Provisions for liabilities		(181,606)	(157,501)
Net assets		1,247,269	1,177,330
Capital and reserves
Called up share capital	8	1,100	1,100
Revaluation reserve		194,843	197,264
Retained earnings		1,051,326	978,966
Shareholders' funds		1,247,269	1,177,330

For the financial year ending 31 December 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.

Holbro Engineering Limited

(Registration number: 01537682)
Balance Sheet as at 31 December 2024

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 5 September 2025 and signed on its behalf by:
 

......................................... Mr Stephen Allan Tilling Director

Holbro Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Copse Hill Works
Kilbane Street
Fleetwood
Lancashire
FY7 7PF

These financial statements were authorised for issue by the Board on 5 September 2025.

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.

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 and deferred 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.

Holbro Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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 & machinery	10% Reducing balance
Freehold buildings	2% Straight line
Motor vehicles	25% Reducing balance
Office equipment	3 Years Straight line
Fixtures & fittings	15% Reducing balance

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.

Holbro Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

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.

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.

Holbro Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 17).

4	Tangible assets

	Land and buildings £	Fixtures and fittings £	Plant and machinery £	Office equipment £
Cost or valuation
At 1 January 2024	528,835	188,733	2,586,534	220,859
Additions	-	-	13,840	-
At 31 December 2024	528,835	188,733	2,600,374	220,859
Depreciation
At 1 January 2024	83,313	153,498	1,768,503	217,249
Charge for the year	8,977	6,996	84,352	3,059
At 31 December 2024	92,290	160,494	1,852,855	220,308
Carrying amount
At 31 December 2024	436,545	28,239	747,519	551
At 31 December 2023	445,521	35,235	818,031	3,610

Holbro Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	52,185	3,577,146
Additions	-	13,840
At 31 December 2024	52,185	3,590,986
Depreciation
At 1 January 2024	24,203	2,246,766
Charge for the year	6,996	110,380
At 31 December 2024	31,199	2,357,146
Carrying amount
At 31 December 2024	20,986	1,233,840
At 31 December 2023	27,982	1,330,379

Included within the net book value of land and buildings above is £436,545 (2023 - £445,522) in respect of freehold land and buildings.
 

5

Stocks

	2024 £	2023 £
Raw materials and consumables	32,938	33,189
Finished goods and goods for resale	87,415	108,675
	120,353	141,864

6

Debtors

Current	2024 £	2023 £
Trade debtors	127,916	182,158
Prepayments	27,960	29,800
Other debtors	16,659	46,157
	172,535	258,115

Holbro Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	10	27,974	131,610
Trade creditors		53,353	134,913
Taxation and social security		101,067	75,264
Accruals and deferred income		26,521	11,761
Other creditors		2,883	511
		211,798	354,059

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	10	11,029	39,858

There are debentures which include fixed and floating charges secured over all the undertaking, property and assets of the company.

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary Shares of £1 each	1,000	1,000	1,000	1,000
Ordinary 'A' Shares of £1 each	100	100	100	100
	1,100	1,100	1,100	1,100

Holbro Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Revaluation reserve £	Retained earnings £
Surplus/deficit on revaluation of other assets	(2,421)	2,421

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on revaluation of other assets	(2,847)	(2,847)

10	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Hire purchase contracts	11,029	39,858

Current loans and borrowings

	2024 £	2023 £
Bank overdrafts	-	107,266
Hire purchase contracts	27,974	24,344
	27,974	131,610

Holbro Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

11	Related party transactions

Loans to related parties

2024	Key management £	Total £
At start of period	30,992	30,992
Repaid	(30,000)	(30,000)
Interest transactions	503	503
At end of period	1,495	1,495

2023	Key management £	Total £
At start of period	41,993	41,993
Repaid	(12,000)	(12,000)
Interest transactions	999	999
At end of period	30,992	30,992

Terms of loans to related parties

Interest is charged at the official rate on any loan balance that exceeds £10,000 throughout the year. The loans are unsecured and repayable on demand.