Holme & Co Ltd Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 09085308

Holme & Co Ltd

Filleted Unaudited Financial Statements

30 June 2019

Holme & Co Ltd

Financial Statements

Year ended 30th June 2019

Contents	Page

Officers and professional advisers	1

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

Holme & Co Ltd

Officers and Professional Advisers

The board of directors	Mrs J A Holme
	Mr T R Holme

Registered office	64 Tarvin Road
	Littleton
	Chester
	Cheshire
	CH3 7DF

Accountants	UHY Hacker Young
	Chartered Accountants
	St John's Chambers
	Love Street
	Chester
	Cheshire
	CH1 1QN

Holme & Co Ltd

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Holme & Co Ltd

Year ended 30th June 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Holme & Co Ltd for the year ended 30th June 2019, which comprise the statement of financial position and the related notes 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Holme & Co Ltd, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Holme & Co Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Holme & Co Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Holme & Co Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Holme & Co Ltd. You consider that Holme & Co Ltd 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 financial statements of Holme & Co Ltd. 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 financial statements.

UHY Hacker Young Chartered Accountants

St John's Chambers Love Street Chester Cheshire CH1 1QN

19 March 2020

Holme & Co Ltd

Statement of Financial Position

30 June 2019

	2019		2018
Note	£	£	£

CURRENT ASSETS

Debtors	6	259	–
Cash at bank and in hand		102,218	112,970
		-----------	-----------
		102,477	112,970

CREDITORS: amounts falling due within one year	7	42,694		50,183
		-----------		-----------
NET CURRENT ASSETS			59,783	62,787
			---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES			59,783	62,787
			---------	---------
NET ASSETS			59,783	62,787
			---------	---------

Holme & Co Ltd

Statement of Financial Position (continued)

30 June 2019

	2019		2018
Note	£	£	£

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	59,683	62,687
	---------	---------
SHAREHOLDERS FUNDS	59,783	62,787
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 30th June 2019 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 19 March 2020 , and are signed on behalf of the board by:

Mrs J A Holme

Director

Company registration number: 09085308

Holme & Co Ltd

Notes to the Financial Statements

Year ended 30th June 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 64 Tarvin Road, Littleton, Chester, Cheshire, CH3 7DF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2018: 2 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1st July 2018 and 30th June 2019	2,371	2,371
	--------	--------
Depreciation
At 1st July 2018 and 30th June 2019	2,371	2,371
	--------	--------
Carrying amount
At 30th June 2019	–	–
	--------	--------
At 30th June 2018	–	–
	--------	--------

6. Debtors

	2019	2018
	£	£
Other debtors	259	–
	--------	--------

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Corporation tax	–	8,072
Social security and other taxes	800	2,113
Other creditors	41,894	39,998
	---------	---------
	42,694	50,183
	---------	---------

8. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2019
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mrs J A Holme	( 38,948)	( 811)	( 39,759)
	---------	--------	---------

	2018
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mrs J A Holme	( 5,656)	( 33,292)	( 38,948)
	--------	---------	---------

9. Related party transactions

The company was under the control of Mr & Mrs Holme throughout the current period. Mr & Mrs Holme are shareholders in and directors of the company. During the year the company paid dividends amounting to £1,900 (2018 £30,500) to Mrs Holme.