IRIS Accounts Production v24.1.9.2 10622241 Board of Directors 1.3.23 29.2.24 29.2.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh106222412023-02-28106222412024-02-29106222412023-03-012024-02-29106222412022-02-28106222412022-03-012023-02-28106222412023-02-2810622241ns15:EnglandWales2023-03-012024-02-2910622241ns14:PoundSterling2023-03-012024-02-2910622241ns10:Director12023-03-012024-02-2910622241ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2910622241ns10:SmallEntities2023-03-012024-02-2910622241ns10:AuditExemptWithAccountantsReport2023-03-012024-02-2910622241ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2910622241ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2910622241ns10:FullAccounts2023-03-012024-02-2910622241ns10:Director22023-03-012024-02-2910622241ns10:RegisteredOffice2023-03-012024-02-2910622241ns5:CurrentFinancialInstruments2024-02-2910622241ns5:CurrentFinancialInstruments2023-02-2810622241ns5:Non-currentFinancialInstruments2024-02-2910622241ns5:Non-currentFinancialInstruments2023-02-2810622241ns5:ShareCapital2024-02-2910622241ns5:ShareCapital2023-02-2810622241ns5:RetainedEarningsAccumulatedLosses2024-02-2910622241ns5:RetainedEarningsAccumulatedLosses2023-02-2810622241ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2910622241ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2810622241ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-02-2910622241ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-02-2810622241ns5:Secured2024-02-2910622241ns5:Secured2023-02-28
REGISTERED NUMBER: 10622241 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

HALE & MACLEAN LTD

HALE & MACLEAN LTD (REGISTERED NUMBER: 10622241)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

HALE & MACLEAN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: E K H Lawson
A R M Lawson





REGISTERED OFFICE: 375 Eaton Road
West Derby
Liverpool
Merseyside
L12 2AH





REGISTERED NUMBER: 10622241 (England and Wales)





ACCOUNTANTS: John Kerr - Chartered Accountants
375 Eaton Road
West Derby
Liverpool
Merseyside
L12 2AH

HALE & MACLEAN LTD (REGISTERED NUMBER: 10622241)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 859,244 859,244

CURRENT ASSETS
Debtors 5 - 885
Cash at bank 24,553 10,589
24,553 11,474
CREDITORS
Amounts falling due within one year 6 301,325 300,122
NET CURRENT LIABILITIES (276,772 ) (288,648 )
TOTAL ASSETS LESS CURRENT LIABILITIES 582,472 570,596

CREDITORS
Amounts falling due after more than one year 7 606,408 606,412
NET LIABILITIES (23,936 ) (35,816 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (23,946 ) (35,826 )
(23,936 ) (35,816 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:



E K H Lawson - Director


HALE & MACLEAN LTD (REGISTERED NUMBER: 10622241)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Hale & Maclean 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

Basis of preparing the financial statements - going concern
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

The company meets its day to day working capital requirements through interest free loans provided by the directors. On the basis of the directors' monitoring of the ongoing cash flow information and their intention to continue to provide ongoing financial support to the company, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the financing facilities by the directors.

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.

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 balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 859,244
NET BOOK VALUE
At 29 February 2024 859,244
At 28 February 2023 859,244

HALE & MACLEAN LTD (REGISTERED NUMBER: 10622241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors - 885

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Taxation and social security 1,150 155
Other creditors 300,175 299,967
301,325 300,122

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Other creditors 606,408 606,412

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage loans 606,408 606,412

8. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Mortgage loans 606,408 606,412

The mortgage loans are secured by legal charges over the company's investment properties and by floating charges over all other assets.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HALE & MACLEAN LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hale & Maclean Ltd for the year ended 29 February 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hale & Maclean Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hale & Maclean Ltd and state those matters that we have agreed to state to the Board of Directors of Hale & Maclean Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hale & Maclean Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hale & Maclean Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hale & Maclean Ltd. You consider that Hale & Maclean Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hale & Maclean Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






John Kerr - Chartered Accountants
375 Eaton Road
West Derby
Liverpool
Merseyside
L12 2AH


3 September 2024