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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 |
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HOLMES HALLS (PROCESSORS) LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 |
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FOR |
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HOLMES HALLS (PROCESSORS) LIMITED |
HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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HOLMES HALLS (PROCESSORS) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
and Statutory Auditors |
Birkby House |
Bailiff Bridge |
Brighouse |
West Yorkshire |
HD6 4JJ |
HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
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BALANCE SHEET |
31 DECEMBER 2022 |
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2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Share premium |
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Capital redemption reserve |
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Fair value reserve | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
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BALANCE SHEET - continued |
31 DECEMBER 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
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1. | STATUTORY INFORMATION |
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Holmes Halls (Processors) Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
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2. | ACCOUNTING POLICIES |
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BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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The company has extended the accounting period to 31 December 2021 in order to align with the accounting period of other group components. |
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TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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TANGIBLE FIXED ASSETS |
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Land and buildings | - |
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Plant and machinery etc | - |
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Land and buildings were valued on 16 November 2022. The valuation was undertaken by Scotts Property LLP Chartered Surveyors at market value. |
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STOCKS |
Stocks are valued at the lower of average cost and estimated net realisable value. Cost comprises direct materials and labour costs together with the relevant factory overheads on the basis of normal activity levels. |
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HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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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DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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FOREIGN CURRENCIES |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS |
The company contributes to personal pension schemes individual to the employees and the pension charge represents the amount payable by the company to these schemes in respect of the year. Pension contributions outstanding at the year end were £nil (2020 - £2,421). |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2022 |
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Additions |
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Disposals |
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Revaluations |
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At 31 December 2022 |
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DEPRECIATION |
At 1 January 2022 |
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Charge for year |
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Eliminated on disposal |
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Revaluation adjustments | ( |
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At 31 December 2022 |
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NET BOOK VALUE |
At 31 December 2022 |
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At 31 December 2021 |
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Cost or valuation at 31 December 2022 is represented by: |
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Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2022 | 1,703,570 | 6,279,534 | 7,983,104 |
HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
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4. | TANGIBLE FIXED ASSETS - continued |
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If Freehold Property had not been revalued it would have been included at the following historical cost: |
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2022 | 2021 |
£ | £ |
Cost | 1,155,489 | - |
Aggregate depreciation | 97,380 | - |
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Value of land in freehold land and buildings | 558,131 | - |
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Freehold property was valued on an open market basis on 16 November 2022 by Scotts Property LLP . |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
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Other creditors |
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HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2022 | 2021 |
£ | £ |
Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 479,522 | 736,208 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2022 | 2021 |
£ | £ |
Bank loans |
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The company had a CIBL bank loan of £250,000. The balance of this loan was repaid in full on 14 November 2022. |
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The company has a mortgage from the bank of £1,065,750. The balance of this mortgage at 31 December 2021 was £732,097. The mortgage is repayable by instalments and the interest rate is 3.71% above base rate. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary | 1 | 1,700,000 | 500,000 |
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10. | RESERVES |
Fair |
value |
reserve |
£ |
Revaluation in year | 649,031 |
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At 31 December 2022 |
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HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
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11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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12. | CAPITAL COMMITMENTS |
2022 | 2021 |
£ | £ |
Contracted but not provided for in the |
financial statements |
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13. | POST BALANCE SHEET EVENTS |
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The company received additional loans from it's shareholders to fund it's plant investment of £1,000,000 after the year end. |
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14. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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15. | GOVERNMENT GRANTS |
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The company received grants in relation to property improvements and plant additions in 2018 and 2019 of £64,177. There are no unfilled conditions relating to the grants. |