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REGISTERED NUMBER: 05819220 (England and Wales)















HALLTON LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023






HALLTON LIMITED (REGISTERED NUMBER: 05819220)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Abridged Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


HALLTON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: N D Heller
D Heller





SECRETARY: N D Heller





REGISTERED OFFICE: 923 Finchley Road
Golders Green
London
NW11 7PE





REGISTERED NUMBER: 05819220 (England and Wales)





ACCOUNTANTS: Joseph Kahan Associates LLP
Chartered Accountants
923 Finchley Road
London
NW11 7PE

HALLTON LIMITED (REGISTERED NUMBER: 05819220)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,634 3,662
Investment property 5 2,085,348 2,167,269
2,088,982 2,170,931

CURRENT ASSETS
Debtors 7,996 5,664
Cash at bank and in hand 166,163 19,629
174,159 25,293
CREDITORS
Amounts falling due within one year 498,606 410,954
NET CURRENT LIABILITIES (324,447 ) (385,661 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,764,535

1,785,270

CREDITORS
Amounts falling due after more than one
year

6

(1,050,910

)

(1,072,838

)

PROVISIONS FOR LIABILITIES (10,426 ) (10,426 )
NET ASSETS 703,199 702,006

CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 258,754 334,544
Retained earnings 444,345 367,362
SHAREHOLDERS' FUNDS 703,199 702,006

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

HALLTON LIMITED (REGISTERED NUMBER: 05819220)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 7 February 2024 and were signed on its behalf by:





N D Heller - Director


HALLTON LIMITED (REGISTERED NUMBER: 05819220)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Hallton 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:


Fixtures and fittings - 25% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

HALLTON LIMITED (REGISTERED NUMBER: 05819220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

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 and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

HALLTON LIMITED (REGISTERED NUMBER: 05819220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 19,439
Additions 1,184
At 31 May 2023 20,623
DEPRECIATION
At 1 June 2022 15,777
Charge for year 1,212
At 31 May 2023 16,989
NET BOOK VALUE
At 31 May 2023 3,634
At 31 May 2022 3,662

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 2,167,269
Additions 368,079
Disposals (450,000 )
At 31 May 2023 2,085,348
NET BOOK VALUE
At 31 May 2023 2,085,348
At 31 May 2022 2,167,269

Investment Properties are stated at Fair Value.

The historical cost of investment properties included in the above valuation is £1,826,594.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2023 2022
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 926,858 913,168
Other loans more 5yrs instal 12,299 16,198
939,157 929,366

HALLTON LIMITED (REGISTERED NUMBER: 05819220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS - continued

Creditors amounts falling due after more than one year, this comprises of a bank loan secured by a first charge against the freehold property.

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,060,962 1,085,334

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Revaluation
reserve
£   
At 1 June 2022 334,544
Non distributable profits (75,790 )

At 31 May 2023 258,754

10. RELATED PARTY DISCLOSURES

Included within other creditors is a loan of £170,000 (2022: £170,000) from The Safety Supply Company Ltd a company in which Mr N D Heller is a director. This loan is unsecured, interest free and repayable upon demand.