Hollywood Industrial Supplies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06889868 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Hollywood Industrial Supplies Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

Mr J P Farrugia

Mrs E M Farrugia

SECRETARY:

Mrs E M Farrugia

REGISTERED OFFICE:

1148a Stratford Road

Hall Green

Birmingham

B28 8AF

REGISTERED NUMBER:

06889868 (England and Wales)

ACCOUNTANTS:

Marneros Marcus & Co Ltd

Chartered Certified Accountants

First floor, Hagley Court

40 Vicarage Road

Edgbaston

Birmingham

West Midlands

B15 3EZ

FIXED ASSETS

Intangible assets

4

4,800

5,200

Tangible assets

5

190

3

4,990

5,203

CURRENT ASSETS

Stocks

3,740

4,400

Debtors

6

12,537

17,127

Cash at bank

14,609

15,712

30,886

37,239

CREDITORS

Amounts falling due within one year

7

14,199

24,677

NET CURRENT ASSETS

16,687

12,562

TOTAL ASSETS LESS CURRENT LIABILITIES

21,677

17,765

CREDITORS

Amounts falling due after more than one year

8

922

392

NET ASSETS

20,755

17,373

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

20,655

17,273

20,755

17,373

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 19 January 2023 and were signed on its behalf by:

Mr J P Farrugia - Director

Mrs E M Farrugia - Director

1.	STATUTORY INFORMATION

Hollywood Industrial Supplies 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 0, is being amortised evenly over its estimated useful life of nil 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

10,000

AMORTISATION

At 1 April 2021

4,800

Charge for year

400

At 31 March 2022

5,200

NET BOOK VALUE

At 31 March 2022

4,800

At 31 March 2021

5,200

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

9,370

Additions

254

At 31 March 2022

9,624

DEPRECIATION

At 1 April 2021

9,367

Charge for year

67

At 31 March 2022

9,434

NET BOOK VALUE

At 31 March 2022

190

At 31 March 2021

3

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

12,537

16,727

Other debtors

-

400

12,537

17,127

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

2,662

-

Trade creditors

319

2,924

Tax

5,535

11,314

Social security and other taxes

13

-

VAT

4,830

7,824

Accrued expenses

840

2,615

14,199

24,677

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Directors' loan accounts

922

392

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2022 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Marneros Marcus & Co Ltd

Chartered Certified Accountants

First floor, Hagley Court

40 Vicarage Road

Edgbaston

Birmingham

West Midlands

B15 3EZ

Date: .............................................