Holga Limited - Accounts to registrar (filleted) - small 18.2

Holga Limited - Accounts to registrar (filleted) - small 18.2

HOLGA LIMITED - Company Information

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REGISTERED NUMBER: 03935163 (England and Wales)















ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

HOLGA LIMITED
HOLGA LIMITED (REGISTERED NUMBER: 03935163)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


HOLGA LIMITED (REGISTERED NUMBER: 03935163)

ABRIDGED BALANCE SHEET
31 MARCH 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 5,860
Tangible assets 5 115 1,165
115 7,025

CURRENT ASSETS
Stocks 2,843 4,013
Debtors 3,122 3,770
Cash at bank 76,383 56,086
82,348 63,869
CREDITORS
Amounts falling due within one year 37,198 23,394
NET CURRENT ASSETS 45,150 40,475
TOTAL ASSETS LESS CURRENT
LIABILITIES
45,265
47,500

PROVISIONS FOR LIABILITIES 22 195
NET ASSETS 45,243 47,305

CAPITAL AND RESERVES
Called up share capital 35 35
Capital redemption reserve 65 65
Retained earnings 45,143 47,205
SHAREHOLDERS' FUNDS 45,243 47,305

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 notes form part of these financial statements

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HOLGA LIMITED (REGISTERED NUMBER: 03935163)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2020


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 November 2020 and were signed by:





Mr. K. P. Smith - Director


The notes form part of these financial statements

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HOLGA LIMITED (REGISTERED NUMBER: 03935163)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020


1. STATUTORY INFORMATION

Holga Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03935163

Registered office: 9 Nelson Terrace
Stockton-on-Tees
TS18 1NT

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 represents the sale of goods and services relating to hairdressing activities, together with income receivable in respect of rent-a-chair.

Goodwill
Goodwill is being amortised on a straight line basis over its estimated useful life of twenty 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.
Improvements to leasehold property - 5% to 10% straight line
Fixtures, fittings and equipment - 5% to 20% straight line
Computer equipment - 25% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


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HOLGA LIMITED (REGISTERED NUMBER: 03935163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020


2. ACCOUNTING POLICIES - continued
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 4 (2019 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2019
and 31 March 2020 113,587
AMORTISATION
At 1 April 2019 107,727
Amortisation for year 5,860
At 31 March 2020 113,587
NET BOOK VALUE

At 31 March 2020 -
At 31 March 2019 5,860

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HOLGA LIMITED (REGISTERED NUMBER: 03935163)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2019 50,648
Disposals (4,565 )
At 31 March 2020 46,083
DEPRECIATION
At 1 April 2019 49,483
Charge for year 356
Eliminated on disposal (3,871 )
At 31 March 2020 45,968
NET BOOK VALUE
At 31 March 2020 115
At 31 March 2019 1,165

6. LEASING AGREEMENTS

At the balance sheet date, the company had financial commitments under non-cancellable operating leases totalling £13,500.

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2020 and 31 March 2019:

2020 2019
£    £   
Mr. S. R. Fletcher
Balance outstanding at start of year - -
Amounts advanced - 32,500
Amounts repaid - (32,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr. K. P. Smith
Balance outstanding at start of year 3,590 -
Amounts advanced - 3,590
Amounts repaid (3,590 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 3,590

All the above advances were interest free and were unsecured, with no fixed repayment terms.

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