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Registered Number: 10635155
England & Northern Ireland

 

 

 

HALLS MANAGEMENT LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Directors John Edward Charles Bugg
Sarah Thurston-Bugg
John William Bugg
Registered Number 10635155
Registered Office 61a High Street South
Rushden
Northants
NN10 0RA
Accountants Denton Tavara Limited
61a High Street South
Rushden
NN10 0RA
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 January 2024.
Principal activities
Principal activity of the company during the financial year was of the sale of new and used caravans and the operation of caravan parks.
Directors
The directors who served the company throughout the year were as follows:
John Edward Charles Bugg
Sarah Thurston-Bugg
John William Bugg (from 19/09/2023)
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
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 (Financial Reporting Standard 102). 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 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
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • 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. The directors 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
John Edward Charles Bugg
Director

Date approved: 27 August 2024
2
Accountants report
You consider that the company is exempt from an audit for the year ended 31 January 2024 . You have acknowledged, on the Statement of Financial Position , your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.



....................................................
Denton Tavara Limited
61a High Street South
Rushden
NN10 0RA
27 August 2024
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 3,667,326    3,646,076 
3,667,326    3,646,076 
Current assets      
Debtors 4 179,712    128,052 
Cash at bank and in hand 24,254    14,967 
203,966    143,019 
Creditors: amount falling due within one year 5 (1,567,450)   (1,399,036)
Net current assets (1,363,484)   (1,256,017)
 
Total assets less current liabilities 2,303,842    2,390,059 
Creditors: amount falling due after more than one year 6 (1,926,064)   (2,016,370)
Net assets 377,778    373,689 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 377,678    373,589 
Shareholders' funds 377,778    373,689 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 August 2024 and were signed on its behalf by:


-------------------------------
John Edward Charles Bugg
Director
4
General Information
Halls Management Ltd is a private company, limited by shares, registered in England & Northern Ireland, registration number 10635155, registration address 61a High Street South, Rushden, Northants, NN10 0RA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Reducing Balance
Plant and Machinery 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Total
  £   £   £
At 01 February 2023 3,646,076      3,646,076 
Additions   25,000    25,000 
Disposals    
At 31 January 2024 3,646,076    25,000    3,671,076 
Depreciation
At 01 February 2023    
Charge for year   3,750    3,750 
On disposals    
At 31 January 2024   3,750    3,750 
Net book values
Closing balance as at 31 January 2024 3,646,076    21,250    3,667,326 
Opening balance as at 01 February 2023 3,646,076      3,646,076 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 179,712    128,052 
179,712    128,052 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 81,000   
Bank Loans & Overdrafts 229,359    225,982 
Amounts Owed to Group Undertakings 966,090    875,590 
Corporation Tax   21,425 
PAYE & Social Security 794    110 
Other Creditors 224,760    224,757 
VAT 65,447    51,172 
1,567,450    1,399,036 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans and Overdrafts 1,770,493    1,860,799 
Other Creditors 155,571    155,571 
1,926,064    2,016,370 

5