Silverfin false false 30/09/2023 01/10/2022 30/09/2023 Maria Jane Coton 06/03/2007 Mark Norman Coton 06/03/2007 17 February 2024 The principal activity of the Company during the financial year was that of Chartered Surveyors and construction consultancy. 06139611 2023-09-30 06139611 bus:Director1 2023-09-30 06139611 bus:Director2 2023-09-30 06139611 2022-09-30 06139611 core:CurrentFinancialInstruments 2023-09-30 06139611 core:CurrentFinancialInstruments 2022-09-30 06139611 core:Non-currentFinancialInstruments 2023-09-30 06139611 core:Non-currentFinancialInstruments 2022-09-30 06139611 core:ShareCapital 2023-09-30 06139611 core:ShareCapital 2022-09-30 06139611 core:RetainedEarningsAccumulatedLosses 2023-09-30 06139611 core:RetainedEarningsAccumulatedLosses 2022-09-30 06139611 core:Goodwill 2022-09-30 06139611 core:Goodwill 2023-09-30 06139611 core:LandBuildings 2022-09-30 06139611 core:FurnitureFittings 2022-09-30 06139611 core:ComputerEquipment 2022-09-30 06139611 core:LandBuildings 2023-09-30 06139611 core:FurnitureFittings 2023-09-30 06139611 core:ComputerEquipment 2023-09-30 06139611 core:CurrentFinancialInstruments core:Secured 2023-09-30 06139611 bus:OrdinaryShareClass1 2023-09-30 06139611 bus:OrdinaryShareClass2 2023-09-30 06139611 2022-10-01 2023-09-30 06139611 bus:FilletedAccounts 2022-10-01 2023-09-30 06139611 bus:SmallEntities 2022-10-01 2023-09-30 06139611 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 06139611 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 06139611 bus:Director1 2022-10-01 2023-09-30 06139611 bus:Director2 2022-10-01 2023-09-30 06139611 core:Goodwill core:TopRangeValue 2022-10-01 2023-09-30 06139611 core:Goodwill 2022-10-01 2023-09-30 06139611 core:FurnitureFittings core:TopRangeValue 2022-10-01 2023-09-30 06139611 core:ComputerEquipment core:TopRangeValue 2022-10-01 2023-09-30 06139611 2021-10-01 2022-09-30 06139611 core:LandBuildings 2022-10-01 2023-09-30 06139611 core:FurnitureFittings 2022-10-01 2023-09-30 06139611 core:ComputerEquipment 2022-10-01 2023-09-30 06139611 core:CurrentFinancialInstruments 2022-10-01 2023-09-30 06139611 core:Non-currentFinancialInstruments 2022-10-01 2023-09-30 06139611 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 06139611 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 06139611 bus:OrdinaryShareClass2 2022-10-01 2023-09-30 06139611 bus:OrdinaryShareClass2 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06139611 (England and Wales)

HALDONS LTD

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

HALDONS LTD

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

HALDONS LTD

STATEMENT OF FINANCIAL POSITION

As at 30 September 2023
HALDONS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 9,712 11,870
Tangible assets 4 254,482 248,411
Investment property 5 150,000 150,000
414,194 410,281
Current assets
Stocks 36,785 23,000
Debtors 6 607,243 462,990
Cash at bank and in hand 516,171 249,945
1,160,199 735,935
Creditors: amounts falling due within one year 7 ( 502,636) ( 174,903)
Net current assets 657,563 561,032
Total assets less current liabilities 1,071,757 971,313
Creditors: amounts falling due after more than one year 8 0 ( 13,674)
Provision for liabilities ( 22,309) ( 20,815)
Net assets 1,049,448 936,824
Capital and reserves
Called-up share capital 9 2 2
Profit and loss account 1,049,446 936,822
Total shareholder's funds 1,049,448 936,824

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Haldons Ltd (registered number: 06139611) were approved and authorised for issue by the Director on 17 February 2024. They were signed on its behalf by:

Maria Jane Coton
Director
HALDONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
HALDONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Haldons Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Keep, 147 Union Street, Torquay, TQ1 4BU, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life of 20 years.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings not depreciated
Fixtures and fittings 4 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 8

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 October 2022 43,161 43,161
At 30 September 2023 43,161 43,161
Accumulated amortisation
At 01 October 2022 31,291 31,291
Charge for the financial year 2,158 2,158
At 30 September 2023 33,449 33,449
Net book value
At 30 September 2023 9,712 9,712
At 30 September 2022 11,870 11,870

4. Tangible assets

Land and buildings Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 October 2022 247,181 46,765 8,230 302,176
Additions 0 0 9,075 9,075
At 30 September 2023 247,181 46,765 17,305 311,251
Accumulated depreciation
At 01 October 2022 0 46,697 7,068 53,765
Charge for the financial year 0 68 2,936 3,004
At 30 September 2023 0 46,765 10,004 56,769
Net book value
At 30 September 2023 247,181 0 7,301 254,482
At 30 September 2022 247,181 68 1,162 248,411

5. Investment property

Investment property
£
Valuation
As at 01 October 2022 150,000
As at 30 September 2023 150,000

Valuation

The valuation was carried out by directors on an open market for existing use basis.

6. Debtors

2023 2022
£ £
Trade debtors 134,139 148,341
Other debtors 473,104 314,649
607,243 462,990

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured) 14,839 15,241
Trade creditors 3,659 14,136
Deferred income 369,105 0
Taxation and social security 110,307 143,132
Other creditors 4,726 2,394
502,636 174,903

Bank loans are secured against the company's assets by way of a fixed and floating charge.

Deferred income represents invoiced costs, incurred, and paid after the year end. This is reflected in the balance held in the business bank account.

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 0 13,674

Bank loans above are secured against the company's assets by way of a fixed and floating charge.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
164 Ordinary shares of £ 0.01 each 1.64 1.64
36 B ordinary shares of £ 0.01 each 0.36 0.36
2.00 2.00

10. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 777 687

11. Related party transactions

The Company has taken advantage of the exemption in section 1AC.35 of FRS 102 to not disclose related party transactions with wholly owned entities within the group.