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REGISTERED NUMBER: 04120291 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Hala Management Limited

Hala Management Limited (Registered number: 04120291)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hala Management Limited

Company Information
for the Year Ended 30 June 2023







Director: E F Barakat





Registered office: Suite 1
2a Church Road
Hove
BN3 2FL





Registered number: 04120291 (England and Wales)





Accountants: Wilson Sandford Limited
Chartered accountants
85 Church Road
Hove
East Sussex
BN3 2BB

Hala Management Limited (Registered number: 04120291)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Investments 4 250,000 -
Investment property 5 3,450,000 2,544,600
3,700,000 2,544,600

Current assets
Debtors 6 95,137 97,923
Cash at bank 199,159 5,798
294,296 103,721
Creditors: amounts falling due within
one year

7

404,514

367,285
Net current liabilities (110,218 ) (263,564 )
Total assets less current liabilities 3,589,782 2,281,036

Creditors: amounts falling due after
more than one year

8

(3,551,788

)

(2,594,515

)

Provisions for liabilities (135,416 ) -
Net liabilities (97,422 ) (313,479 )

Hala Management Limited (Registered number: 04120291)

Balance Sheet - continued
30 June 2023

2023 2022
Notes £    £    £    £   
Capital and reserves
Called up share capital 9 10,000 10,000
Fair value reserve 10 457,997 16,286
Retained earnings (565,419 ) (339,765 )
Shareholders' funds (97,422 ) (313,479 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 March 2024 and were signed by:





E F Barakat - Director


Hala Management Limited (Registered number: 04120291)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. Statutory information

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

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.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.


Deferred tax is recognised on revalued investment properties using the rates and allowances that apply to the sale of the asset at the period end.

Rental income
Rental income from operating leases (net of any incentives given to the leases) is recognised on a straight-line basis over the lease term.

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.

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued at its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

The investment property fair value of £3,450,000 (2022 - £2,544,600) was determined by the director
based on the market value of similar properties in the area.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.


Hala Management Limited (Registered number: 04120291)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Other investments
Other investments are initially recorded at cost and revalued at their fair value each reporting date. Any changes in fair value are recognised in the Profit and Loss Account.

3. Employees and directors

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

4. Fixed asset investments

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Motor Vehicles 250,000 -

5. Investment property
Total
£   
Fair value
At 1 July 2022 2,544,600
Additions 941,205
Disposals (612,931 )
Revaluations 577,126
At 30 June 2023 3,450,000
Net book value
At 30 June 2023 3,450,000
At 30 June 2022 2,544,600

The investment property fair value of £3,450,000 (2022- £2,544,600) was determined by the director based on the market value of similar properties in the area.

Hala Management Limited (Registered number: 04120291)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 928 -
Other debtors 94,209 97,923
95,137 97,923

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 14,811 2,000
Trade creditors 7,187 19,739
Other creditors 382,516 345,546
404,514 367,285

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 624,073 5,833
Other creditors 2,927,715 2,588,682
3,551,788 2,594,515

Creditors include liabilities of £3,545,967 (2022 £2,696,425) which are secured by the assets to which they relate.

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000

Hala Management Limited (Registered number: 04120291)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

10. Reserves
Fair
value
reserve
£   
At 1 July 2022 16,286
Transfer 441,711

At 30 June 2023 457,997

11. Related party disclosures

At the year end, the company owed the directors £55,726 (2022: £13,857).