Acorah Software Products - Accounts Production 15.0.400 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 12077957 Mr Baruch Grunberger Mr Yisochar Hershberg Mr Chaim Grunberger iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12077957 2022-07-31 12077957 2023-07-31 12077957 2022-08-01 2023-07-31 12077957 frs-core:CurrentFinancialInstruments 2023-07-31 12077957 frs-core:Non-currentFinancialInstruments 2023-07-31 12077957 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-31 12077957 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-07-31 12077957 frs-core:InvestmentPropertyIncludedWithinPPE 2023-07-31 12077957 frs-core:InvestmentPropertyIncludedWithinPPE 2022-07-31 12077957 frs-core:ShareCapital 2023-07-31 12077957 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 12077957 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12077957 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 12077957 frs-bus:SmallEntities 2022-08-01 2023-07-31 12077957 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12077957 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 12077957 frs-bus:Director1 2022-08-01 2023-07-31 12077957 frs-bus:Director2 2022-08-01 2023-07-31 12077957 frs-bus:Director3 2022-08-01 2023-07-31 12077957 frs-countries:EnglandWales 2022-08-01 2023-07-31 12077957 2021-07-31 12077957 2022-07-31 12077957 2021-08-01 2022-07-31 12077957 frs-core:CurrentFinancialInstruments 2022-07-31 12077957 frs-core:Non-currentFinancialInstruments 2022-07-31 12077957 frs-core:ShareCapital 2022-07-31 12077957 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 12077957
HALO TOWER ESTATES LTD
Unaudited Financial Statements
For The Year Ended 31 July 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12077957
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 42,900 42,900
Tangible Assets 5 1,577,641 1,559,939
1,620,541 1,602,839
CURRENT ASSETS
Debtors 6 179,774 178,137
Cash at bank and in hand 16,056 5,214
195,830 183,351
Creditors: Amounts Falling Due Within One Year 7 (1,298,112 ) (1,200,447 )
NET CURRENT ASSETS (LIABILITIES) (1,102,282 ) (1,017,096 )
TOTAL ASSETS LESS CURRENT LIABILITIES 518,259 585,743
Creditors: Amounts Falling Due After More Than One Year 8 (900,000 ) (900,000 )
NET LIABILITIES (381,741 ) (314,257 )
CAPITAL AND RESERVES
Called up share capital 9 100 1
Profit and Loss Account (381,841 ) (314,258 )
SHAREHOLDERS' FUNDS (381,741) (314,257)
Page 1
Page 2
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Baruch Grunberger
Director
Mr Yisochar Hershberg
Director
Mr Chaim Grunberger
Director
5th July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
HALO TOWER ESTATES LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12077957 . The registered office is 50 Craven Park Road, South Tottenham, London, London, N15 6AB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
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4. Intangible Assets
Development Costs
£
Cost
As at 1 August 2022 42,900
As at 31 July 2023 42,900
Net Book Value
As at 31 July 2023 42,900
As at 1 August 2022 42,900
5. Tangible Assets
Investment Properties
£
Cost
As at 1 August 2022 1,559,939
Additions 17,702
As at 31 July 2023 1,577,641
Net Book Value
As at 31 July 2023 1,577,641
As at 1 August 2022 1,559,939
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,047 -
Other debtors 178,074 178,074
VAT 653 63
179,774 178,137
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 1,297,812 1,200,147
Accruals and deferred income 300 300
1,298,112 1,200,447
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 900,000 900,000
900,000 900,000
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9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 1
Page 5