The Hollteck Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04288234 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2019

for

The Hollteck Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Towers

SECRETARY:

REGISTERED OFFICE:

63 Jenkin Road

Sheffield

South Yorkshire

S9 1DS

REGISTERED NUMBER:

04288234 (England and Wales)

ACCOUNTANTS:

DLA Chartered Accountants

36A Market Street

New Mills

High Peak

SK22 4AA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

291,235

27,399

291,235

27,399

CURRENT ASSETS

Stocks

468,945

422,091

Debtors

6

1,543,080

1,200,380

Cash at bank and in hand

76,941

233,064

2,088,966

1,855,535

CREDITORS

Amounts falling due within one year

7

1,078,945

843,460

NET CURRENT ASSETS

1,010,021

1,012,075

TOTAL ASSETS LESS CURRENT LIABILITIES

1,301,256

1,039,474

CREDITORS

Amounts falling due after more than one year

8

(282,477

)

(302,637

)

PROVISIONS FOR LIABILITIES

(53,208

)

(2,919

)

NET ASSETS

965,571

733,918

CAPITAL AND RESERVES

Called up share capital

49,700

52,900

Retained earnings

915,871

681,018

SHAREHOLDERS' FUNDS

965,571

733,918

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 29 June 2020 and were signed by:

S Towers - Director

1.	STATUTORY INFORMATION

The Hollteck Company 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.

Turnover

Turnover 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 2001, 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 13 (2018 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2018

and 30 September 2019

68,001

AMORTISATION

At 1 October 2018

and 30 September 2019

68,001

NET BOOK VALUE

At 30 September 2019

-

At 30 September 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2018

108,252

36,103

27,850

80,618

252,823

Additions

300,900

-

-

2,470

303,370

At 30 September 2019

409,152

36,103

27,850

83,088

556,193

DEPRECIATION

At 1 October 2018

89,969

35,652

20,908

78,895

225,424

Charge for year

35,264

451

1,736

2,083

39,534

At 30 September 2019

125,233

36,103

22,644

80,978

264,958

NET BOOK VALUE

At 30 September 2019

283,919

-

5,206

2,110

291,235

At 30 September 2018

18,283

451

6,942

1,723

27,399

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade debtors

1,202,751

687,437

Other debtors

118,214

302,041

Hollteck India

88,019

105,338

Sundry debtor - Bo-Mac

(1,500

)

1,125

Sundry debtor - Hollteck Prop

22,875

4,437

VAT

106,169

64,214

Prepayments and accrued income

6,552

35,788

1,543,080

1,200,380

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Other loans

65,879

196,277

Trade creditors

845,011

470,776

Tax

-

16,802

Social security and other taxes

8,449

14,539

Other creditors

3,985

6,102

Crosslands Foundary Limited

105,000

105,000

Sundry creditors

12,000

-

Directors' current accounts

38,621

33,964

1,078,945

843,460

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.19

30.9.18

£

£

Other loans - 1-2 years

160,622

59,089

Other loans - over 2 yrs

37,068

-

Prepaid income

19,787

178,548

Other creditors

65,000

65,000

282,477

302,637

9.	RELATED PARTY DISCLOSURES

During the year the company traded with Crosslands Foundry Limited, a company under common control.

Sales in the year to Crosslands Foundry Limited were £46,122 (2018: £260) and purchases were £933,176 (2018:

£194,672). All trading between the two companies in the year was at normal commercial rates.

At 30.09.2019 the balance owed by The Hollteck Company Limited to Crosslands Foundry Limited was £529,846

(2018: £346,385).

During the year the company traded with Bo-Mac (Sheffield) Limited, a company under common control.

Sales in the year to Bo-Mac (Sheffield) Limited were £23,306 (2018: £30,790) and purchases were £490,637

(2018: £260,614). All trading between the two companies in the year was at normal commercial rates.

At 30.09.2019 the balance owed by The Hollteck Company Limited to Bo-Mac (Sheffield) Limited was £156,180

(2018: £60,035).

The company trades from premises owned by Hollteck Properties Limited, a company under common control.

Rents are paid to Hollteck Properties Limited by The Hollteck Company Limited. Following a rent review carried out

by Hollteck Properties Ltd during the period, an additional rental charge is included in the 2019 accounts, which

corrects the historic rental charge between the two companies to normal commercial rates.

The rental charge included in these accounts consists of a historic correction of £189,524 and the current year's rent

at the commercial rate of £49,500 for the period ended 30 September 2019. The total rent included in these

accounts is therefore £208,804.

At 30.09.2019 The Hollteck Company Limited was owed £81,130 (2018: £302,041) by Hollteck Properties Limited.