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Registration number: 13400409

Hallmark Moving & Storage Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Hallmark Moving & Storage Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Hallmark Moving & Storage Ltd

Company Information

Directors

R Lucas

K Smith

Registered office

Church Farm
Church Road
Iver Heath
Buckinghamshire
SL0 0RA

Accountants

Ardmore Accountancy Limited
Chartered Certified Accountants
17 Campion Close
Denham
Buckinghamshire
UB9 5BX

 

Hallmark Moving & Storage Ltd

(Registration number: 13400409)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

720

961

Current assets

 

Stocks

5

31,760

42,481

Debtors

6

193,621

169,981

Cash at bank and in hand

 

50,026

38,905

 

275,407

251,367

Creditors: Amounts falling due within one year

7

(201,122)

(189,647)

Net current assets

 

74,285

61,720

Net assets

 

75,005

62,681

Capital and reserves

 

Called up share capital

100

100

Retained earnings

74,905

62,581

Shareholders' funds

 

75,005

62,681

For the financial year ending 31 May 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Hallmark Moving & Storage Ltd

(Registration number: 13400409)
Balance Sheet as at 31 May 2023

Approved and authorised by the Board on 19 January 2024 and signed on its behalf by:
 


R Lucas
Director


K Smith
Director

 

Hallmark Moving & Storage Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Church Farm
Church Road
Iver Heath
Buckinghamshire
SL0 0RA

These financial statements were authorised for issue by the Board on 19 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Hallmark Moving & Storage Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Hallmark Moving & Storage Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 4).

 

Hallmark Moving & Storage Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 June 2022

1,281

1,281

At 31 May 2023

1,281

1,281

Depreciation

At 1 June 2022

320

320

Charge for the year

241

241

At 31 May 2023

561

561

Carrying amount

At 31 May 2023

720

720

At 31 May 2022

961

961

5

Stocks

2023
£

2022
£

Other inventories

31,760

42,481

6

Debtors

Current

2023
£

2022
£

Trade debtors

187,714

164,981

Other debtors

5,907

5,000

 

193,621

169,981

 

Hallmark Moving & Storage Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

58,703

30,255

Amounts owed to related parties

9

11,352

6,321

Taxation and social security

 

61,395

71,840

Accruals and deferred income

 

69,672

76,015

Other creditors

 

-

5,216

 

201,122

189,647

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

65,000

65,000

Later than one year and not later than five years

27,083

92,083

92,083

157,083

The amount of non-cancellable operating lease payments recognised as an expense during the year was £84,622 (2022 - £35,296).

9

Related party transactions

Other transactions with directors

The directors operate directors' loan accounts. These loans are interest free and repayable on demand. At the balance sheet date the balance due to the directors from the company was £11,352 (2022: £6,321).