IRIS Accounts Production v24.2.0.383 02238331 Board of Directors 1.1.23 31.12.23 31.12.23 true false true true false false false true false Fair value model Ordinary 1.00000 Ordinary A 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh022383312022-12-31022383312023-12-31022383312023-01-012023-12-31022383312021-12-31022383312022-01-012022-12-31022383312022-12-3102238331ns15:EnglandWales2023-01-012023-12-3102238331ns14:PoundSterling2023-01-012023-12-3102238331ns10:Director12023-01-012023-12-3102238331ns10:CompanySecretary12023-01-012023-12-3102238331ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3102238331ns10:FRS1022023-01-012023-12-3102238331ns10:Audited2023-01-012023-12-3102238331ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-01-012023-12-3102238331ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-01-012023-12-3102238331ns10:FullAccounts2023-01-012023-12-310223833112023-01-012023-12-3102238331ns10:OrdinaryShareClass12023-01-012023-12-3102238331ns10:OrdinaryShareClass22023-01-012023-12-3102238331ns10:Director22023-01-012023-12-3102238331ns10:Director32023-01-012023-12-3102238331ns10:Director42023-01-012023-12-3102238331ns10:RegisteredOffice2023-01-012023-12-3102238331ns5:RetainedEarningsAccumulatedLosses2022-12-3102238331ns5:RetainedEarningsAccumulatedLosses2021-12-3102238331ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3102238331ns5:RetainedEarningsAccumulatedLosses2022-01-012022-12-3102238331ns5:RetainedEarningsAccumulatedLosses2023-12-3102238331ns5:RetainedEarningsAccumulatedLosses2022-12-3102238331ns5:CurrentFinancialInstruments2023-12-3102238331ns5:CurrentFinancialInstruments2022-12-3102238331ns5:ShareCapital2023-12-3102238331ns5:ShareCapital2022-12-3102238331ns5:SharePremium2023-12-3102238331ns5:SharePremium2022-12-3102238331ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3102238331ns5:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3102238331ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-01-012023-12-3102238331ns5:PlantMachinery2023-01-012023-12-3102238331ns5:FurnitureFittings2023-01-012023-12-3102238331ns10:HighestPaidDirector2023-01-012023-12-3102238331ns5:OwnedAssets2023-01-012023-12-3102238331ns5:OwnedAssets2022-01-012022-12-3102238331ns5:PatentsTrademarksLicencesConcessionsSimilar2022-01-012022-12-3102238331ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-01-012022-12-3102238331ns10:OrdinaryShareClass22022-01-012022-12-3102238331ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3102238331ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-3102238331ns5:PatentsTrademarksLicencesConcessionsSimilar2023-12-3102238331ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-12-3102238331ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3102238331ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-3102238331ns5:PlantMachinery2022-12-3102238331ns5:FurnitureFittings2022-12-3102238331ns5:PlantMachinery2023-12-3102238331ns5:FurnitureFittings2023-12-3102238331ns5:PlantMachinery2022-12-3102238331ns5:FurnitureFittings2022-12-3102238331ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3102238331ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3102238331ns5:BetweenOneFiveYears2023-12-3102238331ns5:BetweenOneFiveYears2022-12-3102238331ns5:AcceleratedTaxDepreciationDeferredTax2023-12-3102238331ns5:AcceleratedTaxDepreciationDeferredTax2022-12-3102238331ns5:DeferredTaxation2022-12-3102238331ns5:DeferredTaxation2023-01-012023-12-3102238331ns5:DeferredTaxation2023-12-3102238331ns10:OrdinaryShareClass12023-12-3102238331ns10:OrdinaryShareClass22023-12-3102238331ns5:SharePremium2022-12-31
REGISTERED NUMBER: 02238331 (England and Wales)

















Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2023

for

Hall & Associates (Marketing) Ltd

Hall & Associates (Marketing) Ltd (Registered number: 02238331)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 8

Statement of Financial Position 9

Statement of Cash Flows 10

Notes to the Statement of Cash Flows 11

Notes to the Financial Statements 12


Hall & Associates (Marketing) Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Ms A Hall
M A Jenkins
P L Grewer
Mrs N E McQuillan





SECRETARY: P L Grewer





REGISTERED OFFICE: 2 Tudor Court
York Business Park
York
North Yorkshire
YO26 6RS





REGISTERED NUMBER: 02238331 (England and Wales)





AUDITORS: Tranter Lowe (Oakengates) Limited
Statutory Auditor
International House
6 Market Street
Oakengates
Telford
Shropshire
TF2 6EF

Hall & Associates (Marketing) Ltd (Registered number: 02238331)

Strategic Report
for the Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
The results for the year and financial position of the company are as shown in the annexed financial statements and the financial position at the year end was considered satisfactory by the directors.

PRINCIPAL RISKS AND UNCERTAINTIES
The company monitors its risks on an ongoing basis. The directors are of the opinion that the principal risks facing the company relate to the wider economic conditions which influence the demand for the company's products. The company is undertakes regular reviews of all pricing and hedging strategies to mitigate this impact. The directors are mindful of health and safety regulatory compliance and all aspects of public liability are comprehensively covered by appropriate insurance.

FUTURE DEVELOPMENTS
The current economic climate remains challenging and the directors are conscious of the competitive trading environment. However, the directors believe that the Company is well placed in its market and has the focus and drive to develop new products and bring them to market in the next fiscal year. As a result of which we expect to remain soundly profitable, driven by a strong management team and dedicated employees.

FINANCIAL RISK MANAGEMENT
The company's operations expose it to a variety of financial risks that include credit risk, liquidity risk and foreign exchange risk. The company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the company by monitoring levels of debt finance and the related finance costs.

Credit risk
The company has implemented policies that require appropriate credit checks on customers before sales are made.

Liquidity risk
The company actively maintains debt finance that is designed to ensure that is has sufficient available funds for operations.

Foreign exchange risk
The company has forward exchange rates agreed to hedge against future fluctuations.

ON BEHALF OF THE BOARD:





P L Grewer - Secretary


10 July 2024

Hall & Associates (Marketing) Ltd (Registered number: 02238331)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the marketing and supply of products to the principal grocers and retailers.

DIVIDENDS
The total distribution of dividends for the year ended 31 December 2023 will be £ 627,000 .

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1 January 2023 to the date of this report.

The beneficial interests of the directors holding office at 31 December 2023 in the shares of the company, according to the register of directors' interests, were as follows:

31.12.23 1.1.23
Ordinary shares of £1 each
Ms A Hall 23,750 23,750
M A Jenkins 6,250 6,250
P L Grewer - -
Mrs N E McQuillan - -

Ordinary A shares of £1 each
Ms A Hall 5,000 5,000
M A Jenkins - -
P L Grewer - -
Mrs N E McQuillan - -

Ordinary B shares of £1 each
Ms A Hall - -
M A Jenkins - -
P L Grewer 500 500
Mrs N E McQuillan 500 500

These directors did not hold any non-beneficial interests in any of the shares of the company.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Hall & Associates (Marketing) Ltd (Registered number: 02238331)

Report of the Directors
for the Year Ended 31 December 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Tranter Lowe (Oakengates) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



P L Grewer - Secretary


10 July 2024

Report of the Independent Auditors to the Members of
Hall & Associates (Marketing) Ltd

Opinion
We have audited the financial statements of Hall & Associates (Marketing) Ltd (the 'company') for the year ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Hall & Associates (Marketing) Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those that relate to the reporting framework (FRS 102 and the Companies Act 2006), the relevant tax compliance regulation, Employment law, Health and Safety Regulations and the EU Data Protection Regulation (GDPR).
We understand how the Company is complying with these frameworks by making enquires of management. Where relevant we have reviewed correspondence with regulatory bodies and remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management as to where they considered there was susceptibility to fraud together with their knowledge of actual, suspected and alleged fraud. Based on our understanding our procedures involved enquiries of management, control testing across key accounting cycles and review of systems in place, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant accounting estimates used in preparing the financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Other matter
The Company did not qualify for an audit for the year ended 31st December 2022. The corresponding figures are therefore unaudited.

Report of the Independent Auditors to the Members of
Hall & Associates (Marketing) Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr A J Poole (Senior Statutory Auditor)
for and on behalf of Tranter Lowe (Oakengates) Limited
Statutory Auditor
International House
6 Market Street
Oakengates
Telford
Shropshire
TF2 6EF

15 August 2024

Hall & Associates (Marketing) Ltd (Registered number: 02238331)

Statement of Income and
Retained Earnings
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 11,142,701 10,818,402

Cost of sales 7,565,141 8,294,402
GROSS PROFIT 3,577,560 2,524,000

Administrative expenses 2,031,111 1,868,363
OPERATING PROFIT 4 1,546,449 655,637

Gain/loss on revaluation of assets 7,482 2,272
PROFIT BEFORE TAXATION 1,553,931 657,909

Tax on profit 5 373,174 127,212
PROFIT FOR THE FINANCIAL YEAR 1,180,757 530,697

Retained earnings at beginning of year 3,623,286 3,509,589

Dividends 6 (627,000 ) (417,000 )

RETAINED EARNINGS AT END OF
YEAR

4,177,043

3,623,286

Hall & Associates (Marketing) Ltd (Registered number: 02238331)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 74,918 73,425
Tangible assets 9 102,448 72,397
Investment property 10 299,200 299,200
476,566 445,022

CURRENT ASSETS
Stocks 11 833,517 1,133,319
Debtors 12 1,365,011 1,121,596
Investments 13 503,809 496,327
Cash at bank and in hand 2,693,732 2,128,627
5,396,069 4,879,869
CREDITORS
Amounts falling due within one year 14 1,576,565 1,594,215
NET CURRENT ASSETS 3,819,504 3,285,654
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,296,070

3,730,676

PROVISIONS FOR LIABILITIES 17 22,340 10,703
NET ASSETS 4,273,730 3,719,973

CAPITAL AND RESERVES
Called up share capital 18 36,000 36,000
Share premium 19 60,687 60,687
Retained earnings 19 4,177,043 3,623,286
SHAREHOLDERS' FUNDS 4,273,730 3,719,973

The financial statements were approved by the Board of Directors and authorised for issue on 10 July 2024 and were signed on its behalf by:





Ms A Hall - Director


Hall & Associates (Marketing) Ltd (Registered number: 02238331)

Statement of Cash Flows
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,522,535 1,778,422
Tax paid (122,164 ) (1,865 )
Net cash from operating activities 1,400,371 1,776,557

Cash flows from investing activities
Purchase of intangible fixed assets (15,902 ) (1,706 )
Purchase of tangible fixed assets (79,542 ) (60,814 )
Sale of intangible fixed assets - 1,530
Sale of tangible fixed assets 220 415
Net cash from investing activities (95,224 ) (60,575 )

Cash flows from financing activities
Amount introduced by directors 146,000 118,125
Amount withdrawn by directors (259,042 ) (9,000 )
Equity dividends paid (627,000 ) (417,000 )
Net cash from financing activities (740,042 ) (307,875 )

Increase in cash and cash equivalents 565,105 1,408,107
Cash and cash equivalents at beginning of
year

2

2,128,627

720,520

Cash and cash equivalents at end of year 2 2,693,732 2,128,627

Hall & Associates (Marketing) Ltd (Registered number: 02238331)

Notes to the Statement of Cash Flows
for the Year Ended 31 December 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.12.23 31.12.22
£    £   
Profit before taxation 1,553,931 657,909
Depreciation charges 63,900 58,340
Profit on disposal of fixed assets (220 ) (415 )
Gain on revaluation of fixed assets (7,482 ) (2,272 )
1,610,129 713,562
Decrease in stocks 299,802 120,311
(Increase)/decrease in trade and other debtors (243,415 ) 885,876
(Decrease)/increase in trade and other creditors (143,981 ) 58,673
Cash generated from operations 1,522,535 1,778,422

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 2,693,732 2,128,627
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 2,128,627 859,705
Bank overdrafts - (139,185 )
2,128,627 720,520


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 2,128,627 565,105 2,693,732
2,128,627 565,105 2,693,732

Liquid resources
Current asset investments 496,327 7,482 503,809
496,327 7,482 503,809
Total 2,624,954 572,587 3,197,541

Hall & Associates (Marketing) Ltd (Registered number: 02238331)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Hall & Associates (Marketing) Ltd 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.

2. ACCOUNTING POLICIES

General information and basis of preparing the financial statements
Hall & Associates (Marketing) Limited is a private company limited by shares incorporated in England. The address of the registered office is given in the company information on page 1 of these financial statements.the nature of the Company's operations and principal activities ar given in the Directors' Report.

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The company adopted FRS 102 in the current year and an explanation of how transition to FRS 102 has affected the reported financial position and performance is given in the notes to the 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.

Turnover from the sale of goods is recognised following the transfer of goods to the buyer, when both the amount of turnover and the costs incurred in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

REACH Compliance Costs are being amortised evenly over their estimated useful life of ten years.

Patents and licences
The costs relating to the registration of licences and trademarks are depreciated over ten years or the useful economic life of the licence whichever is the shorter period.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tooling - 33% on cost
Office furniture & equipment - 33% on cost

Investment property
The investment property is shown at the most recent valuation and is based upon research undertaken by the directors with reference to the local property market. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

Stocks
Stock comprises goods for resale and is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Hall & Associates (Marketing) Ltd (Registered number: 02238331)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Transactions in foreign currencies are translated at current rates throughout the year. Assets and liabilities are translated into sterling at the rates of exchange ruling at the statement of financial position date. These were £1.00:€1.1539 and £1.00:$1.2747. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Development costs
Development and design costs are written off within a year of being incurred.

Investments
Current asset investments are recognised at fair value based on a cash-in value at 31st December 2023.

3. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£    £   
Wages and salaries 1,208,551 1,098,181
Social security costs 123,227 119,600
Other pension costs 97,412 108,049
1,429,190 1,325,830

The average number of employees during the year was as follows:
31.12.23 31.12.22

Management 6 6
Administration 27 28
33 34

Hall & Associates (Marketing) Ltd (Registered number: 02238331)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS - continued

31.12.23 31.12.22
£    £   
Directors' remuneration 247,316 164,007

Information regarding the highest paid director for the year ended 31 December 2023 is as follows:
31.12.23
£   
Emoluments etc 114,555

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.23 31.12.22
£    £   
Depreciation - owned assets 49,491 45,088
Profit on disposal of fixed assets (220 ) (415 )
Patents and licences amortisation 1,648 1,779
REACH Compliance Costs amortisation 12,761 11,472

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax 361,537 123,659

Deferred tax 11,637 3,553
Tax on profit 373,174 127,212

6. DIVIDENDS
31.12.23 31.12.22
£    £   
Ordinary A shares of £1 each
Final 627,000 417,000

7. NET GAINS ON FOREIGN CURRENCY.

During the year net gains on foreign currency transactions credited to the profit and loss account amounted to £503,132 (2022: £446,320).

Hall & Associates (Marketing) Ltd (Registered number: 02238331)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. INTANGIBLE FIXED ASSETS
Patents REACH
and Compliance
licences Costs Totals
£    £    £   
COST
At 1 January 2023 16,480 113,376 129,856
Additions - 15,902 15,902
At 31 December 2023 16,480 129,278 145,758
AMORTISATION
At 1 January 2023 6,506 49,925 56,431
Amortisation for year 1,648 12,761 14,409
At 31 December 2023 8,154 62,686 70,840
NET BOOK VALUE
At 31 December 2023 8,326 66,592 74,918
At 31 December 2022 9,974 63,451 73,425

9. TANGIBLE FIXED ASSETS
Office
furniture
Tooling & equipment Totals
£    £    £   
COST
At 1 January 2023 66,228 80,957 147,185
Additions 4,193 75,349 79,542
Disposals (26,781 ) (24,127 ) (50,908 )
At 31 December 2023 43,640 132,179 175,819
DEPRECIATION
At 1 January 2023 38,897 35,891 74,788
Charge for year 16,530 32,961 49,491
Eliminated on disposal (26,781 ) (24,127 ) (50,908 )
At 31 December 2023 28,646 44,725 73,371
NET BOOK VALUE
At 31 December 2023 14,994 87,454 102,448
At 31 December 2022 27,331 45,066 72,397

Hall & Associates (Marketing) Ltd (Registered number: 02238331)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 299,200
NET BOOK VALUE
At 31 December 2023 299,200
At 31 December 2022 299,200

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2021 33,127
Valuation in 2022 12,200
Cost 253,873
299,200

11. STOCKS
31.12.23 31.12.22
£    £   
Finished goods 833,517 1,133,319

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,209,952 1,003,910
Other debtors 273 310
Prepayments 154,786 117,376
1,365,011 1,121,596

13. CURRENT ASSET INVESTMENTS
31.12.23 31.12.22
£    £   
Investment bond 503,809 496,327

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 419,681 610,714
Tax 363,032 123,659
Social security and other taxes 209,560 208,319
Other creditors 400 926
Directors' current accounts 87,512 200,554
Accrued expenses 496,380 450,043
1,576,565 1,594,215

Hall & Associates (Marketing) Ltd (Registered number: 02238331)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Between one and five years 73,300 71,420

16. SECURED DEBTS

Bank borrowing is secured by a charge in favour of the Company's bankers.

17. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 22,340 10,703

Deferred
tax
£   
Balance at 1 January 2023 10,703
Charge to Statement of Income and Retained Earnings during year 11,637
Balance at 31 December 2023 22,340

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
30,000 Ordinary £1 30,000 30,000
5,000 Ordinary A £1 5,000 5,000
1,000 Ordinary B £1 1,000 1,000
36,000 36,000

The shares of the Company rank equally in all respects and are entitled to receive dividends at different rates determined by the Company in general meeting.

19. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2023 3,623,286 60,687 3,683,973
Profit for the year 1,180,757 1,180,757
Dividends (627,000 ) (627,000 )
At 31 December 2023 4,177,043 60,687 4,237,730

20. RELATED PARTY DISCLOSURES

During the year, total dividends of £627,000 were paid to the directors .

Hall & Associates (Marketing) Ltd (Registered number: 02238331)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

20. RELATED PARTY DISCLOSURES - continued

During the year the Company paid rent amounting to £71,420 into a Self-Invested Personal Pension Fund under the control of Ms A Hall, director of the Company.

21. ULTIMATE CONTROLLING PARTY

The controlling party is Ms A Hall.