Clock Start on Holding Penalty?

[cozzmokramer]

Okay heres the situation:

High school football: Team A has the ball with 15 seconds to go in the game, and and are ahead by 4 points. It's 4th down and 4. Team B has no time outs left.

Team A runs a play for a 8 yard gain, but holding is called. Team B accepts the penalty, forcing team A run another play. When does the clock start? Does it start on the 'ready for play' or the snap?

By the way, this exact situation happened and the refs ruled that the clock starts on the 'ready for play'. So team A ran out the clock, and then ref's made them run one play with no time on the clock Team A took a knee and game was over.