IRIS Accounts Production v24.2.0.383 10494685 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh104946852022-12-31104946852023-12-31104946852023-01-012023-12-31104946852021-12-31104946852022-01-012022-12-31104946852022-12-3110494685ns15:EnglandWales2023-01-012023-12-3110494685ns14:PoundSterling2023-01-012023-12-3110494685ns10:Director12023-01-012023-12-3110494685ns10:Director22023-01-012023-12-3110494685ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3110494685ns10:SmallEntities2023-01-012023-12-3110494685ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3110494685ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3110494685ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3110494685ns10:FullAccounts2023-01-012023-12-3110494685ns10:OrdinaryShareClass12023-01-012023-12-3110494685ns10:Director42023-01-012023-12-3110494685ns10:RegisteredOffice2023-01-012023-12-3110494685ns5:CurrentFinancialInstruments2023-12-3110494685ns5:CurrentFinancialInstruments2022-12-3110494685ns5:Non-currentFinancialInstruments2023-12-3110494685ns5:Non-currentFinancialInstruments2022-12-3110494685ns5:ShareCapital2023-12-3110494685ns5:ShareCapital2022-12-3110494685ns5:RetainedEarningsAccumulatedLosses2023-12-3110494685ns5:RetainedEarningsAccumulatedLosses2022-12-3110494685ns5:PlantMachinery2022-12-3110494685ns5:FurnitureFittings2022-12-3110494685ns5:MotorVehicles2022-12-3110494685ns5:ComputerEquipment2022-12-3110494685ns5:PlantMachinery2023-01-012023-12-3110494685ns5:FurnitureFittings2023-01-012023-12-3110494685ns5:MotorVehicles2023-01-012023-12-3110494685ns5:ComputerEquipment2023-01-012023-12-3110494685ns5:PlantMachinery2023-12-3110494685ns5:FurnitureFittings2023-12-3110494685ns5:MotorVehicles2023-12-3110494685ns5:ComputerEquipment2023-12-3110494685ns5:PlantMachinery2022-12-3110494685ns5:FurnitureFittings2022-12-3110494685ns5:MotorVehicles2022-12-3110494685ns5:ComputerEquipment2022-12-3110494685ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3110494685ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3110494685ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3110494685ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3110494685ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-12-3110494685ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2022-12-3110494685ns5:HirePurchaseContracts2023-12-3110494685ns5:HirePurchaseContracts2022-12-3110494685ns5:WithinOneYear2023-12-3110494685ns5:WithinOneYear2022-12-3110494685ns5:BetweenOneFiveYears2023-12-3110494685ns5:BetweenOneFiveYears2022-12-3110494685ns5:AllPeriods2023-12-3110494685ns5:AllPeriods2022-12-3110494685ns5:AcceleratedTaxDepreciationDeferredTax2023-12-3110494685ns5:AcceleratedTaxDepreciationDeferredTax2022-12-3110494685ns5:TaxLossesCarry-forwardsDeferredTax2023-12-3110494685ns5:TaxLossesCarry-forwardsDeferredTax2022-12-3110494685ns5:DeferredTaxation2022-12-3110494685ns5:DeferredTaxation2023-01-012023-12-3110494685ns5:DeferredTaxation2023-12-3110494685ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 10494685 (England and Wales)















HALO SOLAR LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2023






HALO SOLAR LIMITED (REGISTERED NUMBER: 10494685)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 10


HALO SOLAR LIMITED

Company Information
for the year ended 31 December 2023







Directors: Dr J L Evans
Dr Y Tian
A D Waterhouse





Registered office: Ash & Lacy House
Bromford Lane
West Bromwich
West Midlands
B70 7JJ





Registered number: 10494685 (England and Wales)





Accountants: Cooper Parry Group Limited
CUBO Birmingham
3rd Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX

HALO SOLAR LIMITED (REGISTERED NUMBER: 10494685)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 139,556 165,390

Current assets
Stocks 5 - 582,449
Debtors 6 848,746 1,202,541
Cash at bank 123,550 108,506
972,296 1,893,496
Creditors
Amounts falling due within one year 7 1,854,924 1,976,534
Net current liabilities (882,628 ) (83,038 )
Total assets less current liabilities (743,072 ) 82,352

Creditors
Amounts falling due after more than
one year

8

(2,540

)

(4,745

)

Provisions for liabilities 11 - (16,204 )
Net (liabilities)/assets (745,612 ) 61,403

Capital and reserves
Called up share capital 12 1 1
Retained earnings (745,613 ) 61,402
Shareholders' funds (745,612 ) 61,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

HALO SOLAR LIMITED (REGISTERED NUMBER: 10494685)

Statement of Financial Position - continued
31 December 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 22 August 2024 and were signed on its behalf by:




Dr J L Evans - Director



A D Waterhouse - Director


HALO SOLAR LIMITED (REGISTERED NUMBER: 10494685)

Notes to the Financial Statements
for the year ended 31 December 2023

1. Statutory information

Halo Solar 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.

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.

Going concern
Halo Solar Limited is reliant on financial support and strategic advice from a number of other companies which are under common control of its Shareholders, namely Ash & Lacy Holdings Limited and Ash & Lacy Building Systems Limited. The Directors of these companies have agreed to provide sufficient competent management and adequate financial and other resources to enable Halo Solar Limited to continue as a going concern. Therefore the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Revenue is recognised when the significant risks and rewards of ownership have transferred to the customer. For the supply of goods is at the point of dispatch.

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

HALO SOLAR LIMITED (REGISTERED NUMBER: 10494685)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. Accounting policies - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery 10 years
Motor vehicles4 years
Fixtures and fittings5 years
Computer equipment3 to 10 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties.

Short term debtors are measured at the transaction price, less any impairment.

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


HALO SOLAR LIMITED (REGISTERED NUMBER: 10494685)

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 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 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.

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.

3. Employees and directors

The average number of employees during the year was 25 (2022 - 37 ) .

HALO SOLAR LIMITED (REGISTERED NUMBER: 10494685)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 January 2023 269,835 133,428 4,350 36,492 444,105
Additions 2,309 3,917 - 11,307 17,533
At 31 December 2023 272,144 137,345 4,350 47,799 461,638
Depreciation
At 1 January 2023 151,102 97,717 4,078 25,818 278,715
Charge for year 27,105 11,166 272 4,824 43,367
At 31 December 2023 178,207 108,883 4,350 30,642 322,082
Net book value
At 31 December 2023 93,937 28,462 - 17,157 139,556
At 31 December 2022 118,733 35,711 272 10,674 165,390

5. Stocks
2023 2022
£    £   
Raw materials - 426,703
Finished goods - 155,746
- 582,449

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 179,393 329,183
Other debtors 589,826 520,593
Prepayments 79,527 352,765
848,746 1,202,541

HALO SOLAR LIMITED (REGISTERED NUMBER: 10494685)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Hire purchase contracts (see note 9) 1,382 1,391
Trade creditors 279,491 348,637
Corporation tax - 13,833
Social security and other taxes 7,439 19,937
VAT 25,317 79,884
Other creditors 1,471,998 1,497,910
Accruals and deferred income 69,297 14,942
1,854,924 1,976,534

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Hire purchase contracts (see note 9) 2,540 4,745

9. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 1,382 1,391
Between one and five years 2,540 4,745
3,922 6,136

Non-cancellable operating leases
2023 2022
£    £   
Within one year 19,507 122,764
Between one and five years 39,638 43,546
59,145 166,310

HALO SOLAR LIMITED (REGISTERED NUMBER: 10494685)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

10. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 3,922 6,136

Liabilities under hire purchase contracts are secured on the individual assets concerned.

The company provides cross-guarantee security to several other companies under common control. Further details are given in note 15 - contingent liabilities.

11. Provisions for liabilities
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 30,360 16,775
Tax losses carried forward (30,360 ) -
Other timing differences - (571 )
- 16,204

Deferred
tax
£   
Balance at 1 January 2023 16,204
Provided during year (16,204 )
Balance at 31 December 2023 -

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary 1 1 1

13. Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £10,122 (2022: £26,533). Contributions totalling £1,169 (2022: £2,283) were payable to the fund at the balance sheet date and are included in creditors.

HALO SOLAR LIMITED (REGISTERED NUMBER: 10494685)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

14. Contingent liabilities

In respect of amounts due to HSBC Bank plc, there is an Unlimited Multilateral Guarantee dated 29 December 2021 given by:

Ash & Lacy Group Limited, Ash & Lacy Holdings Limited, Ash & Lacy Building Systems Holdings Limited, Ash & Lacy Building Systems Limited, Ash & Lacy Automotive Holdings Limited, Ash & Lacy Automotive Limited, Ash & Lacy Solutions Holdings Limited, Ash & Lacy Solutions Limited, Ash & Lacy Finishes Holdings Limited, Ash & Lacy Finishes Limited, Ash & Lacy Perforating Holdings Limited, Ash & Lacy Perforating Limited, Accordial Holdings Limited and Halo Solar Limited.

The potential liability of the company at 31 December 2023 was £nil (2022: £nil).

The company is also party to a debenture dated 20 December 2022 providing cross-guarantee security to Ash & Lacy Group Limited as security trustee for all present and future liabilities of the following secured parties:

Ash & Lacy Holdings Limited, Ash & Lacy Building Systems Limited, Ash & Lacy Automotive Limited, Ash & Lacy Solutions Limited, Ash & Lacy Finishes Limited, Ash & Lacy Perforating Limited, and Halo Solar Limited.

15. Related party disclosures

Ash & Lacy Finishes Limited undertook transactions and had balances debtors/(creditors) with the following companies under common control as shown below:

Balance Balance
Sales Purchases 2023 2022
£    £    £    £   
Ash & Lacy Holdings Limited - 15,325 (1,438,230 ) (1,473,858 )
Ash & Lacy Building Systems Limited 13,370 118,508 354,646 (405,900 )
Ash & Lacy Solutions Limited - - (32,676 ) (1,225 )
Ash & Lacy Perforating Limited - - - (202,414 )

The above balances are a combination of amounts within trade debtors, other debtors, trade creditors and other creditors which are allocated as such according to transaction type.

16. Ultimate controlling party

The company's immediate and ultimate parent company is Accordial Holdings Limited, whose registered office address is Ash & Lacy House, Bromford Lane, West Bromwich, West Midlands, B70 7JJ.

By virtue of share ownership of the parent company, Dr J L Evans is the ultimate controlling party.