0
31/07/2021
2021-07-31
false
false
false
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
true
false
No description of principal activities is disclosed
2020-08-01
Sage Accounts Production 21.0 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
03771701
2020-08-01
2021-07-31
03771701
2021-07-31
03771701
2020-07-31
03771701
2019-08-01
2020-07-31
03771701
2020-07-31
03771701
2019-07-31
03771701
core:FurnitureFittingsToolsEquipment
2020-08-01
2021-07-31
03771701
core:MotorVehicles
2020-08-01
2021-07-31
03771701
core:OnerousContractsExcludingVacantProperties
2020-08-01
2021-07-31
03771701
core:NetGoodwill
2020-08-01
2021-07-31
03771701
bus:RegisteredOffice
2020-08-01
2021-07-31
03771701
bus:LeadAgentIfApplicable
2020-08-01
2021-07-31
03771701
bus:Director1
2020-08-01
2021-07-31
03771701
bus:Director2
2020-08-01
2021-07-31
03771701
core:WithinOneYear
2021-07-31
03771701
core:WithinOneYear
2020-07-31
03771701
core:NetGoodwill
2020-07-31
03771701
core:NetGoodwill
2021-07-31
03771701
core:IntangibleAssetsOtherThanGoodwill
2021-07-31
03771701
core:LandBuildings
core:OwnedOrFreeholdAssets
2020-07-31
03771701
core:FurnitureFittingsToolsEquipment
2020-07-31
03771701
core:MotorVehicles
2020-07-31
03771701
core:LandBuildings
core:OwnedOrFreeholdAssets
2021-07-31
03771701
core:FurnitureFittingsToolsEquipment
2021-07-31
03771701
core:MotorVehicles
2021-07-31
03771701
core:AfterOneYear
2021-07-31
03771701
core:AfterOneYear
2020-07-31
03771701
core:LandBuildings
core:OwnedOrFreeholdAssets
2020-08-01
2021-07-31
03771701
core:ShareCapital
2021-07-31
03771701
core:ShareCapital
2020-07-31
03771701
core:RetainedEarningsAccumulatedLosses
2021-07-31
03771701
core:RetainedEarningsAccumulatedLosses
2020-07-31
03771701
core:BetweenOneFiveYears
2021-07-31
03771701
core:BetweenOneFiveYears
2020-07-31
03771701
core:NetGoodwill
2020-07-31
03771701
core:IntangibleAssetsOtherThanGoodwill
2020-07-31
03771701
core:CostValuation
core:Non-currentFinancialInstruments
2021-07-31
03771701
core:Non-currentFinancialInstruments
2021-07-31
03771701
core:Non-currentFinancialInstruments
2020-07-31
03771701
core:LandBuildings
core:OwnedOrFreeholdAssets
2020-07-31
03771701
core:FurnitureFittingsToolsEquipment
2020-07-31
03771701
core:MotorVehicles
2020-07-31
03771701
bus:Director1
2020-07-31
03771701
bus:Director1
2021-07-31
03771701
bus:Director2
2020-07-31
03771701
bus:Director2
2021-07-31
03771701
bus:Director3
2020-07-31
03771701
bus:Director3
2021-07-31
03771701
bus:Director1
2019-07-31
03771701
bus:Director1
2020-07-31
03771701
bus:Director2
2019-07-31
03771701
bus:Director2
2020-07-31
03771701
bus:Director3
2019-07-31
03771701
bus:Director3
2020-07-31
03771701
bus:Director3
2020-08-01
2021-07-31
03771701
bus:Director1
2019-08-01
2020-07-31
03771701
bus:Director2
2019-08-01
2020-07-31
03771701
bus:Director3
2019-08-01
2020-07-31
03771701
bus:SmallEntities
2020-08-01
2021-07-31
03771701
bus:AuditExemptWithAccountantsReport
2020-08-01
2021-07-31
03771701
bus:FullAccounts
2020-08-01
2021-07-31
03771701
bus:SmallCompaniesRegimeForAccounts
2020-08-01
2021-07-31
03771701
bus:PrivateLimitedCompanyLtd
2020-08-01
2021-07-31
Company registration number:
03771701
C. R. Hollands Industrial Supplies Limited
Unaudited filleted financial statements
31 July 2021
C. R. HOLLANDS INDUSTRIAL SUPPLIES LIMITED
DIRECTORS AND OTHER INFORMATION
|
|
|
|
Directors
|
Mr P Hollands
|
|
|
Mr N Hollands
|
|
|
|
|
|
|
|
Company number
|
03771701
|
|
|
|
|
|
|
|
Registered office
|
64 High Street
|
|
|
Bideford
|
|
|
Devon
|
|
|
EX39 2AR
|
|
|
|
|
|
|
|
Business address
|
Bath Road
|
|
|
Woodchester
|
|
|
Stroud
|
|
|
Gloucestershire
|
|
|
GL5 5EX
|
|
|
|
|
|
|
|
Accountants
|
Thomas Westcott
|
|
|
Queens House
|
|
|
42-44 New Street
|
|
|
Honiton
|
|
|
Devon
|
|
|
EX14 1BJ
|
|
|
|
C. R. HOLLANDS INDUSTRIAL SUPPLIES LIMITED
STATEMENT OF FINANCIAL POSITION
31 JULY 2021
|
|
|
2021
|
|
|
|
2020
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
5
|
40,000
|
|
|
|
50,000
|
|
|
Tangible assets
|
|
6
|
678,906
|
|
|
|
703,669
|
|
|
Investments
|
|
7
|
125,000
|
|
|
|
125,000
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
843,906
|
|
|
|
878,669
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
786,553
|
|
|
|
716,494
|
|
|
Debtors
|
|
8
|
1,286,775
|
|
|
|
1,039,787
|
|
|
Cash at bank and in hand
|
|
|
25,443
|
|
|
|
14,662
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
2,098,771
|
|
|
|
1,770,943
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
9
|
(
1,853,941)
|
|
|
|
(
1,264,616)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
244,830
|
|
|
|
506,327
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
1,088,736
|
|
|
|
1,384,996
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
10
|
|
|
(
232,952)
|
|
|
|
(
565,474)
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
(
33,327)
|
|
|
|
(
24,450)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
822,457
|
|
|
|
795,072
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
100
|
|
|
|
100
|
Profit and loss account
|
|
11
|
|
|
822,357
|
|
|
|
794,972
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
822,457
|
|
|
|
795,072
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
26 April 2022
, and are signed on behalf of the board by:
Mr N Hollands
Director
Company registration number:
03771701
C. R. HOLLANDS INDUSTRIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is
C. R. Hollands Industrial Supplies Limited
, 64 High Street, Bideford, Devon, EX39 2AR.
Principal activity
The principal activity of the company in the year under review was that of trading in tooling goods.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over thecompanies interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
Goodwill |
- |
10 years straight line
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Fittings fixtures and equipment
|
-
|
15 %
|
reducing balance
|
|
Motor vehicles
|
-
|
25 %
|
reducing balance
|
|
Computers
|
-
|
25 %
|
straight line
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to 18
(2020:
21
).
5.
Intangible assets
|
|
Goodwill
|
Other intangible assets
|
Total
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 August 2020 and 31 July 2021
|
379,999
|
1
|
380,000
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
Amortisation
|
|
|
|
|
|
|
|
At 1 August 2020
|
330,000
|
-
|
330,000
|
|
|
|
|
Charge for the year
|
10,000
|
-
|
10,000
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
At 31 July 2021
|
340,000
|
-
|
340,000
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31 July 2021
|
39,999
|
1
|
40,000
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
At 31 July 2020
|
49,999
|
1
|
50,000
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Freehold property
|
Fixtures, fittings and equipment
|
Motor vehicles
|
Tangible assets - user defined
|
Total
|
|
|
|
|
£
|
£
|
£
|
£
|
£
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 August 2020
|
642,514
|
402,013
|
222,973
|
139,366
|
1,406,866
|
|
|
|
Additions
|
-
|
40,378
|
28,512
|
4,486
|
73,376
|
|
|
|
Disposals
|
-
|
-
|
(
51,205)
|
-
|
(
51,205)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
At 31 July 2021
|
642,514
|
442,391
|
200,280
|
143,852
|
1,429,037
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 August 2020
|
214,461
|
229,204
|
136,813
|
122,717
|
703,195
|
|
|
|
Charge for the year
|
12,852
|
32,104
|
23,536
|
9,116
|
77,608
|
|
|
|
Disposals
|
-
|
-
|
(
30,672)
|
-
|
(
30,672)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
At 31 July 2021
|
227,313
|
261,308
|
129,677
|
131,833
|
750,131
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 July 2021
|
415,201
|
181,083
|
70,603
|
12,019
|
678,906
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
At 31 July 2020
|
428,053
|
172,809
|
86,160
|
16,649
|
703,671
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
7.
Investments
|
|
Shares in group undertakings and participating interests
|
Total
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 August 2020 and 31 July 2021
|
125,000
|
125,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Impairment
|
|
|
|
|
|
|
|
At 1 August 2020 and 31 July 2021
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31 July 2021
|
125,000
|
125,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31 July 2020
|
125,000
|
125,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
8.
Debtors
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
1,192,976
|
877,643
|
|
Other debtors
|
|
93,799
|
162,144
|
|
|
|
_______
|
_______
|
|
|
|
1,286,775
|
1,039,787
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Creditors: amounts falling due within one year
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
672,407
|
374,112
|
|
Trade creditors
|
|
726,020
|
541,758
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
|
240,724
|
131,095
|
|
Accruals and deferred income
|
|
14,236
|
14,397
|
|
Social security and other taxes
|
|
120,364
|
162,403
|
|
Other creditors
|
|
80,190
|
40,851
|
|
|
|
_______
|
_______
|
|
|
|
1,853,941
|
1,264,616
|
|
|
|
_______
|
_______
|
|
|
|
|
|
C. R. Hollands Industrial Supplies (South Wales) Limited has given an unlimited guarantee supported by a debenture as security for a bank loan taken out by its parent company C R Hollands Industrial Supplies Limited.
10.
Creditors: amounts falling due after more than one year
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
193,333
|
517,000
|
|
Other creditors
|
|
39,619
|
48,474
|
|
|
|
_______
|
_______
|
|
|
|
232,952
|
565,474
|
|
|
|
_______
|
_______
|
|
|
|
|
|
C. R. Hollands Industrial Supplies (South Wales) Limited has given an unlimited guarantee supported by a debenture as security for a bank loan taken out by its parent company C R Hollands Industrial Supplies Limited.
11.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
12.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
|
|
|
£ |
£ |
|
|
|
Not later than 1 year |
46,433
|
45,123
|
Later than 1 year and not later than 5 years |
35,811
|
82,971
|
|
_______ |
_______ |
|
82,244
|
128,094
|
|
_______ |
_______ |
|
|
|
13.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2021
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Amounts repaid
|
Balance o/standing
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
Director 1
|
37,250
|
(
24,430)
|
-
|
12,820
|
|
|
|
Director 2
|
32,468
|
(
102,209)
|
62,845
|
(
6,896)
|
|
|
|
Director 3
|
9,822
|
(100,000)
|
60,256
|
(29,922)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
79,540
|
(
226,639)
|
123,101
|
(
23,998)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
2020
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Amounts repaid
|
Balance o/standing
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
Director 1
|
11,817
|
-
|
25,433
|
37,250
|
|
|
|
Director 2
|
(
16,075)
|
(
72,000)
|
120,543
|
32,468
|
|
|
|
Director 3
|
(41,553)
|
(90,000)
|
141,375
|
9,822
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
(
45,811)
|
(
162,000)
|
287,351
|
79,540
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.
14.
Job Retention Scheme
The Company was the recipient of government assistance as a result of participating in the Coronavirus Job Retention Scheme during the year. The total funds recognised on an accruals basis from the UK Government during the year was £43,745