Company Registration No. 06439904 (England and Wales)
Hallsworth Lloyd Associates Limited
Unaudited accounts
for the year ended 31 January 2024
Hallsworth Lloyd Associates Limited
Unaudited accounts
Contents
Hallsworth Lloyd Associates Limited
Company Information
for the year ended 31 January 2024
Directors
Marc Hallsworth
Michael Lloyd
Company Number
06439904 (England and Wales)
Registered Office
Central House Trentham Business Quarter
Bellringer Road
Stoke-On-Trent
ST4 8GB
Hallsworth Lloyd Associates Limited
Statement of financial position
as at 31 January 2024
Investment property
259,036
259,036
Cash at bank and in hand
365
558
Creditors: amounts falling due within one year
(25,353)
(26,969)
Net current assets
58,950
61,273
Total assets less current liabilities
317,986
320,309
Creditors: amounts falling due after more than one year
(75,875)
(93,221)
Net assets
242,111
227,088
Called up share capital
2
2
Profit and loss account
242,109
227,086
Shareholders' funds
242,111
227,088
For the year ending 31 January 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by
Michael Lloyd
Director
Company Registration No. 06439904
Hallsworth Lloyd Associates Limited
Notes to the Accounts
for the year ended 31 January 2024
Hallsworth Lloyd Associates Limited is a private company, limited by shares, registered in England and Wales, registration number 06439904. The registered office is Central House Trentham Business Quarter, Bellringer Road, Stoke-On-Trent, ST4 8GB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Significant judgements and estimates
(a) Critical accounting estimates and assumptions
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.
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 when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
As described in the notes to the financial statements, the investment properties are stated in the balance sheet at fair value, based on the valuation performed by the director. The director is of the opinion that the year-end valuation is not materially different to current market prices observed. Investment properties have been recognised at fair value by the director and he is of the opinion that there has been no material change since 31 January 2024.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Hallsworth Lloyd Associates Limited
Notes to the Accounts
for the year ended 31 January 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 February 2023
259,036
At 31 January 2024
259,036
The directors consider the investment properties to be stated at fair value as at 31 January 2024.
Amounts falling due within one year
Other debtors
83,938
87,684
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
20,529
21,792
Taxes and social security
4,824
5,177
7
Creditors: amounts falling due after more than one year
2024
2023
Aggregate of amounts that fall due for payment after five years
-
1,628
The total loan amounted to £309,000 and was taken out on 29 January 2008. Repayments commenced on 21 February 2008 at a rate of £1,976.74 per month. The loan is repayable over a 20 year term and bears interest of 2.15% over LIBOR.
The company is party to a cross guarantee and debenture dated 29 January 2008 between the company and Central Contracts (S.O.T) Limited and Barclays Bank PLC covering the bank borrowings of itself and Central Contracts (S.O.T) Limited.
The total liable amounts including it's own borrowings at 31 January 2024, amount to £206,357.
Hallsworth Lloyd Associates Limited
Notes to the Accounts
for the year ended 31 January 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
M Hallsworth
8,358
-
-
8,358
10
Transactions with related parties
Transactions with directors are under normal market conditions and/or not material.
11
Post balance sheet events
There were no material events up to the date of approval of the financial statements by the board.
12
Average number of employees
During the year the average number of employees was 2 (2023: 2).