Handcraft Holding Company Limited - Period Ending 2023-06-30

Handcraft Holding Company Limited

Contents

Company Information	1
Director's Report	2
Accountants' Report	3
Balance Sheet	4
Notes to the Unaudited Financial Statements	5 to 9

Handcraft Holding Company Limited

Company Information

Director

Mr David Alan Dodd

Registered office

9-11 Denington Road Wellingborough Northants NN8 2QH

Accountants

Pattinsons Business Services Ltd Unit 8 The Courtyard Goldsmith Way Eliot Business Park Nuneaton Warwickshire CV10 7RJ

Handcraft Holding Company Limited

Director's Report for the Period from 1 May 2022 to 30 June 2023

The director presents his report and the financial statements for the period from 1 May 2022 to 30 June 2023.

Incorporation

The company commenced trading on 30 September 2022.

Directors of the company

The directors who held office during the period were as follows:

Mr David Alan Dodd

Mr Nicholas Fry (ceased 11 May 2022)

Mr Timothy Gordon (ceased 11 May 2022)

Principal activity

The principal activity of the company is that of a holding company.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through the continued financial support of the director. The director therefore considers it appropriate to prepare financial statements on a going concern basis. The financial statements do not include any adjustments that would result in the withdrawal of financial support by the company's director.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 2 November 2023 and signed on its behalf by:

.........................................
Mr David Alan Dodd
Director

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Handcraft Holding Company Limited
for the Period Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Handcraft Holding Company Limited for the period ended 30 June 2023 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Handcraft Holding Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Handcraft Holding Company Limited and state those matters that we have agreed to state to the Board of Directors of Handcraft Holding Company Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Handcraft Holding Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Handcraft Holding Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Handcraft Holding Company Limited. You consider that Handcraft Holding Company Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Handcraft Holding Company Limited. 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 accounts.

......................................

Pattinsons Business Services Ltd
Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

2 November 2023

Handcraft Holding Company Limited

(Registration number: 11947935)
Balance Sheet as at 30 June 2023

	Note	30 June 2023 £	30 April 2022 £
Fixed assets
Investments	5	175,167	-
Current assets
Debtors	6	1,506	-
Cash at bank and in hand		2,590	102
		4,096	102
Creditors: Amounts falling due within one year	7	(355,897)	-
Net current (liabilities)/assets		(351,801)	102
Total assets less current liabilities		(176,634)	102
Creditors: Amounts falling due after more than one year	7	(150,000)	-
Net (liabilities)/assets		(326,634)	102
Capital and reserves
Called up share capital	8	402	102
Retained earnings		(327,036)	-
Shareholders' (deficit)/funds		(326,634)	102

For the financial period ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 2 November 2023
 

......................................... Mr David Alan Dodd Director

Handcraft Holding Company Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 30 June 2023

1	General information

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

The address of its registered office is:
9-11 Denington Road
Wellingborough
Northants
NN8 2QH
United Kingdom

These financial statements were authorised for issue by the director on 2 November 2023.

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.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts..

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Handcraft Holding Company Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 30 June 2023

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.

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.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and loans to related parties.

3	Staff numbers

The average number of persons employed by the company during the period, was 0 (2022 - 0).

4	Profit before tax

Arrived at after charging/(crediting)

	30 June 2023 £	30 April 2022 £
Income from shares in group undertakings	(82,500)	-

Handcraft Holding Company Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 30 June 2023

5	Investments

	30 June 2023 £	30 April 2022 £
Investments in subsidiaries	175,167	-

Subsidiaries	£
Cost or valuation
Revaluation	(397,983)
Additions	573,150
At 30 June 2023	175,167
Provision
Carrying amount
At 30 June 2023	175,167

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2023	2022
Subsidiary undertakings
Handcraft Manufacturing Limited	9-11 Denington Road Denington Industrial Estate, Wellingborough, NN8 2QH United Kingdom	Ordinary	100%	0%

Subsidiary undertakings

Handcraft Manufacturing Limited The principal activity of Handcraft Manufacturing Limited is that of manufacture of cabinets..

Handcraft Holding Company Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 30 June 2023

6

Debtors

	30 June 2023 £	30 April 2022 £
Prepayments	1,506	-
	1,506	-

7

Creditors

Creditors: amounts falling due within one year

	Note	30 June 2023 £	30 April 2022 £
Due within one year
Trade creditors		1,255	-
Amounts owed to group undertakings and undertakings in which the company has a participating interest	10	41,357	-
Other creditors		313,285	-
		355,897	-
Due after one year
Other non-current financial liabilities		150,000	-

8	Share capital

Allotted, called up and fully paid shares

	30 June 2023		30 April 2022
	No.	£	No.	£
Ordinary of £1 each	400	400	100	100
A Ordinary of £1 each	1	1	1	1
B Ordinary of £1 each	1	1	1	1
	402	402	102	102

9

Reserves

	Note	30 June 2023  £
Distributable reserves		70,947
Non-distributable reserves		(397,983)
		(327,036)

Handcraft Holding Company Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 30 June 2023

10	Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. not to disclose related party transactions with wholly owned subsidiaries within the group.