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Registration number: 11366047

Holofy Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 May 2024

Holofy Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 8

Holofy Limited

Company Information

Directors | C Caraulani E Cristea

Registered office | 24/25 The Shard Quarter London Bridge Street London SE1 9SG

Holofy Limited

(Registration number: 11366047)
Balance Sheet as at 31 May 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Intangible assets | 5 | 15,000 | 17,500
Tangible assets | 6 | 8,438 | 19,966
|  | 23,438 | 37,466
Current assets |  |  |
Stocks | 7 | - | 23,656
Debtors | 8 | - | 12,386
Cash at bank and in hand |  | 5,434 | 72,795
|  | 5,434 | 108,837
Creditors: Amounts falling due within one year | 9 | (344,131) | (373,984)
Net current liabilities |  | (338,697) | (265,147)
Net liabilities |  | (315,259) | (227,681)
Capital and reserves |  |  |
Called up share capital |  | 119 | 119
Share premium reserve |  | 3,559,312 | 3,259,137
Retained earnings |  | (3,874,690) | (3,486,937)
Shareholders' deficit |  | (315,259) | (227,681)

For the financial year ending 31 May 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 and 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 3 November 2025 and signed on its behalf by:

......................................... E Cristea Director

Holofy Limited

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

1 | General information

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

The address of its registered office is:
24/25 The Shard Quarter
London Bridge Street
London
SE1 9SG
England

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

At 31 May 2024, the Company had net liabilities. The directors have confirmed their willingness to provide financial support to the Company to such an extent that, in their opinion, the Company will be able to meet its liabilities as they fall due for the foreseeable future, being a period not less than twelve months from the signing of the balance sheet.
On this understanding, 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.

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Holofy Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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
Furniture, fittings and equipment | 33% straight line

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
Intangible assets | Straight line 10%

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.

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.

Holofy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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 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.

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.

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 5 (2023 - 6).

4 | Loss before tax

Arrived at after charging/(crediting)

| 2024 £ | 2023 £
Depreciation expense | 13,291 | 17,425
Amortisation expense | 2,500 | 2,500

Holofy Limited

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

5 | Intangible assets

| Other intangible assets £ | Total £
Cost or valuation
At 1 June 2023 | 25,000 | 25,000
At 31 May 2024 | 25,000 | 25,000
Amortisation
At 1 June 2023 | 7,500 | 7,500
Amortisation charge | 2,500 | 2,500
At 31 May 2024 | 10,000 | 10,000
Carrying amount
At 31 May 2024 | 15,000 | 15,000
At 31 May 2023 | 17,500 | 17,500

6 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 June 2023 | 77,028 | 77,028
Additions | 1,763 | 1,763
At 31 May 2024 | 78,791 | 78,791
Depreciation
At 1 June 2023 | 57,062 | 57,062
Charge for the year | 13,291 | 13,291
At 31 May 2024 | 70,353 | 70,353
Carrying amount
At 31 May 2024 | 8,438 | 8,438
At 31 May 2023 | 19,966 | 19,966

Holofy Limited

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

7 | Stocks

| 2024 £ | 2023 £
Other inventories | - | 23,656

8 | Debtors

Current | 2024 £ | 2023 £
Prepayments | - | 1,875
Other debtors | - | 10,511
| - | 12,386

9 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Loans and borrowings | 10 | 275,690 | 349,603
Trade creditors |  | 8,527 | 105
Taxation and social security |  | 37,817 | 13,216
Accruals and deferred income |  | 9,125 | 10,301
Other creditors |  | 12,972 | 759
|  | 344,131 | 373,984

10 | Loans and borrowings

Current loans and borrowings

| 2024 £ | 2023 £
Bank overdrafts | 162 | 42
Other borrowings | 275,528 | 349,561
| 275,690 | 349,603

Other borrowings consist of various loans provided related parties. They are not accruing interest and are repayable on demand.

Holofy Limited

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

11 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £0.001 each | 119,498 | 119.50 | 118,914 | 118.91

New shares allotted
During the year 584 Ordinary shares having an aggregate nominal value of £0.58 were allotted for an aggregate consideration of £300,176.

12 | Control

There is no controlling party.