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REGISTERED NUMBER: 03596626 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

HALL CONTRACTS (LAKENHEATH) LIMITED

HALL CONTRACTS (LAKENHEATH) LIMITED (REGISTERED NUMBER: 03596626)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HALL CONTRACTS (LAKENHEATH) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: J Hall
Mrs N F Hall





SECRETARY: J Hall





REGISTERED OFFICE: 27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE





REGISTERED NUMBER: 03596626 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

HALL CONTRACTS (LAKENHEATH) LIMITED (REGISTERED NUMBER: 03596626)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 996,411 945,893
Investments 5 901 901
Investment property 6 10,185,000 10,185,000
11,182,312 11,131,794

CURRENT ASSETS
Stocks 843,539 624,289
Debtors 7 2,814,462 1,766,997
Cash at bank 153,381 127,606
3,811,382 2,518,892
CREDITORS
Amounts falling due within one year 8 697,498 600,334
NET CURRENT ASSETS 3,113,884 1,918,558
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,296,196

13,050,352

CREDITORS
Amounts falling due after more than one year 9 (1,219,184 ) (484,432 )

PROVISIONS FOR LIABILITIES (1,136,953 ) (1,120,453 )
NET ASSETS 11,940,059 11,445,467

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 4,058,817 4,058,817
Retained earnings 7,881,241 7,386,649
11,940,059 11,445,467

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

HALL CONTRACTS (LAKENHEATH) LIMITED (REGISTERED NUMBER: 03596626)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:





J Hall - Director


HALL CONTRACTS (LAKENHEATH) LIMITED (REGISTERED NUMBER: 03596626)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Hall Contracts (Lakenheath) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 4% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% reducing balance

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


HALL CONTRACTS (LAKENHEATH) LIMITED (REGISTERED NUMBER: 03596626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pensions
The company operates a small self administered scheme. Contributions payable for the year are charged in the profit and loss account.

Consolidation
The parent company and its subsidiary undertaking comprise a small group. The company has therefore taken advantage of the exemption provided by section 399(1) of the Companies Act 2006 not to prepare group accounts.

Investment properties
In accordance with standard accounting practice, investment properties are revalued annually and the aggregate surplus or deficit is transferred to a revaluation reserve. No depreciation or amortisation is provided in respect of freehold investment properties and leasehold investment properties with over 20 years to run.

Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the directors believe that the policy of not providing depreciation is necessary in order to give a true and fair view, since the current value of investment properties, and changes to that current value, are of prime importance rather than a calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation, and the amount which might otherwise have been included cannot be separately identified or quantified.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 10 ) .

HALL CONTRACTS (LAKENHEATH) LIMITED (REGISTERED NUMBER: 03596626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Land and Plant and and Motor
buildings machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2022 396,610 1,476,904 10,684 191,228 2,075,426
Additions - 168,017 - 36,092 204,109
Disposals - (45,291 ) (783 ) (7,906 ) (53,980 )
At 30 November 2023 396,610 1,599,630 9,901 219,414 2,225,555
DEPRECIATION
At 1 December 2022 154,519 885,540 6,617 82,857 1,129,533
Charge for year 15,864 98,667 363 27,436 142,330
Eliminated on disposal - (35,726 ) (348 ) (6,645 ) (42,719 )
At 30 November 2023 170,383 948,481 6,632 103,648 1,229,144
NET BOOK VALUE
At 30 November 2023 226,227 651,149 3,269 115,766 996,411
At 30 November 2022 242,091 591,364 4,067 108,371 945,893

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 December 2022 150,848
Additions 139,461
Transfer to ownership (43,195 )
At 30 November 2023 247,114
DEPRECIATION
At 1 December 2022 35,508
Charge for year 26,017
Transfer to ownership (17,331 )
At 30 November 2023 44,194
NET BOOK VALUE
At 30 November 2023 202,920
At 30 November 2022 115,340

HALL CONTRACTS (LAKENHEATH) LIMITED (REGISTERED NUMBER: 03596626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 December 2022
and 30 November 2023 901
NET BOOK VALUE
At 30 November 2023 901
At 30 November 2022 901

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 10,185,000
NET BOOK VALUE
At 30 November 2023 10,185,000
At 30 November 2022 10,185,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2023 10,185,000

If investment property had not been revalued it would have been included at the following historical cost:

30.11.23 30.11.22
£    £   
Cost 5,183,230 5,183,230

Investment property was valued on an open market basis on 30 November 2023 by the director .

7. DEBTORS
30.11.23 30.11.22
£    £   
Amounts falling due within one year:
Trade debtors 1,094 28,234
Amounts owed by group undertakings 2,546,410 1,388,809
Other debtors 131,795 214,791
2,679,299 1,631,834

HALL CONTRACTS (LAKENHEATH) LIMITED (REGISTERED NUMBER: 03596626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. DEBTORS - continued
30.11.23 30.11.22
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 135,163 135,163

Aggregate amounts 2,814,462 1,766,997

Amounts owed by group companies are secured by the way of a debenture.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 290,335 65,000
Hire purchase contracts 27,871 35,518
Trade creditors 1,475 66,365
Amounts owed to group undertakings - 20,521
Taxation and social security 88,666 164,952
Other creditors 289,151 247,978
697,498 600,334

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 753,411 290,335
Hire purchase contracts 75,773 10,497
Other creditors 390,000 183,600
1,219,184 484,432

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 753,411 -

HALL CONTRACTS (LAKENHEATH) LIMITED (REGISTERED NUMBER: 03596626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 1,043,746 355,335
Hire purchase contracts 103,644 46,015
Retirement benefit scheme loan 549,520 303,600
1,696,910 704,950

Assets acquired under hire purchase agreements remain the property of the finance company until the agreement is complete.

One mortgage is secured by a debenture in favour of Handelsbanken plc by way of fixed and floating charges over the assets of the company.

The remaining mortgages are secured by charges on properties in favour of CHL Mortgages for Intermediaries Limited.

The retirement benefit scheme loans are secured by a debenture in favour of Hall Contracts Limited Retirement Benefit Scheme by way of fixed charges over the assets of the company.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
J Hall
Balance outstanding at start of year 194,081 104,441
Amounts advanced 153,982 216,630
Amounts repaid (237,695 ) (126,990 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 110,368 194,081

Loan interest has been paid to the company on overdrawn balances at a rate of 2% until 5 April 2023 and 2.25% thereafter.