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REGISTERED NUMBER: 11189151 (England and Wales)






















Group Strategic Report,

Report of the Director and

Consolidated Financial Statements

for the Year Ended 30 June 2023

for

Halchar Limited

Halchar Limited (Registered number: 11189151)






Contents of the Consolidated Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Consolidated Income Statement 7

Consolidated Other Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15


Halchar Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: C S J Currie



REGISTERED OFFICE: Acrelands Orston Lane
Bottesford
Nottingham
NG13 0AU



REGISTERED NUMBER: 11189151 (England and Wales)



AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG



ACCOUNTANTS: Barker Maule & Co
Chartered Accountants
27 Castle Gate
Newark
Nottinghamshire
NG24 1BA

Halchar Limited (Registered number: 11189151)

Group Strategic Report
for the Year Ended 30 June 2023

The director presents his strategic report of the company and the group for the year ended 30 June 2023.

REVIEW OF BUSINESS
Consolidated group accounts have been prepared for the current year reflecting the growth in size of the group entities over the recent financial period.

The group has expanded to include Robinsons Bawtry Limited in the current year as well as the existing subsidiaries of Midland Skip Hire Limited and Insta Waste Solutions Limited. The 2023 figures include 3 months of trading activity of Robinsons Bawtry Limited and its balance sheet at 30 June 2024 following Halchar Limited becoming controlling party from 1 April 2023.

The consolidated results show a strong performance with group profit before tax of £1.5m (2022 - £0.4m) on turnover of £13.9m (2022 - £15.1m). The group balance sheet remains strong at £4.8m (2022 - £3.7m).

PRINCIPAL RISKS AND UNCERTAINTIES
The director of the company is aware of the principal risks and uncertainties facing the business and takes steps with his management team to mitigate these on a proactive basis.

ON BEHALF OF THE BOARD:





C S J Currie - Director


12 September 2024

Halchar Limited (Registered number: 11189151)

Report of the Director
for the Year Ended 30 June 2023

The director presents his report with the financial statements of the company and the group for the year ended 30 June 2023.

DIVIDENDS
The total distribution of dividends for the year ended 30 June 2023 will be £90,000.

DIRECTOR
C S J Currie held office during the whole of the period from 1 July 2022 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

AUDITORS
The auditors, Wright Vigar Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C S J Currie - Director


12 September 2024

Report of the Independent Auditors to the Members of
Halchar Limited

Qualified Opinion
We have audited the financial statements of Halchar Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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, except for the possible effects of the matter described in the Basis for Qualified Opinion section of our report, the accompanying consolidated financial statements present fairly, in all material respects the financial position of the Group as at 30 June 2023, and of its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with applicable accounting standards.

Basis for Qualified opinion
The Group's consolidated financial statements comprise of the results of Midland Skip Hire Limited and Insta Waste Limited which were 100% subsidiaries for the full year. The company acquired Robinsons Bawtry Limited on 31 March 2023 and so the consolidated figures include the results of this entity for the three month period to 30 June 2023 together with its balance sheet at this date.

Robinsons Bawtry Limited includes an amount of £567k in respect of closing stock. We were not appointed as group auditors of Halchar Limited until after 30 June 2023 and no stocktake was attended to be able to verify the existence or accuracy of this balance. The post acquisition trading profit of Robinsons Bawtry amounts to £54k and is included in the consolidated results of Halchar Limited. We were unable to obtain sufficient appropriate evidence regarding the results and year end position, including the stock valuation, of Robinsons Bawtry Limited. Consequently, we were unable to determine whether any adjustments to the amounts relating to this subsidiary were necessary.

We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the consolidated financial statements 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 qualified opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's 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 group's and the parent 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 director with respect to going concern are described in the relevant sections of this report.

In respect of our conclusion relating to going concern we draw your attention to the Key audit matter and contingent liability and the potential impact that this could have on the group if the contingent liability became payable.

Key audit matters
We draw your attention to the material contingent liability note in the accounts as a key audit matter.

Should the contingent liability in the subsidiary, Insta Waste Solutions Limited, become due as a result of future events then the actual liability for the Company would be material to the business and the Company would require support from other group entities to remain as a going concern. We have been unable to conclude from the information provided and available at the approval date as to how likely that contingent liability will become a liability of the Company.

Report of the Independent Auditors to the Members of
Halchar Limited


Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, 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.

The prior period accounts to 30 June 2022 were unaudited. The group was not a medium group in 2022 and so consolidated accounts were not prepared.

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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

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

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Halchar Limited


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:

Our work is performed to include an assessment of the susceptibility of the entity's financial statements to material misstatement, including the risk of fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- We plan our work to gain an understanding of the significant laws and regulations that are of significance to the
entity and the sector in which they operate. We perform our work to ensure that the entity is complying with its
legal and regulatory framework.
- We obtained an understanding of how the company is complying with those legal and regulatory frameworks by
making inquiries to the management and people charged with governance.

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

- Substantive procedures performed in accordance with the ISAs (UK).
- Challenging assumptions and judgments made by management in its significant accounting estimates.
- Identifying and testing journal entries, in particular material journal entries and an assessment of year end
journals.
- Assessing the extent of compliance with the relevant laws and regulations.

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.

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.




James Sewell BA (Hons) FCA CTA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

12 September 2024

Halchar Limited (Registered number: 11189151)

Consolidated
Income Statement
for the Year Ended 30 June 2023

2023 2022
Notes £    £   

TURNOVER 13,944,363 15,119,889

Cost of sales 10,866,294 13,553,624
GROSS PROFIT 3,078,069 1,566,265

Administrative expenses 1,490,127 1,082,499
1,587,942 483,766

Other operating income - 5,353
OPERATING PROFIT 4 1,587,942 489,119


Interest payable and similar expenses 5 99,603 105,319
PROFIT BEFORE TAXATION 1,488,339 383,800

Tax on profit 6 263,035 224,464
PROFIT FOR THE FINANCIAL YEAR 1,225,304 159,336
Profit attributable to:
Owners of the parent 1,225,304 159,336

Halchar Limited (Registered number: 11189151)

Consolidated
Other Comprehensive Income
for the Year Ended 30 June 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 1,225,304 159,336


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

1,225,304

159,336

Total comprehensive income attributable to:
Owners of the parent 1,225,304 159,336

Halchar Limited (Registered number: 11189151)

Consolidated Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 117,218 -
Tangible assets 10 7,190,191 5,496,491
Investments 11 - -
7,307,409 5,496,491

CURRENT ASSETS
Stocks 12 572,177 4,378
Debtors 13 2,394,805 2,033,401
Cash at bank 244,823 492,910
3,211,805 2,530,689
CREDITORS
Amounts falling due within one year 14 3,317,159 2,482,928
NET CURRENT (LIABILITIES)/ASSETS (105,354 ) 47,761
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,202,055

5,544,252

CREDITORS
Amounts falling due after more than one
year

15

(1,640,894

)

(1,173,791

)

PROVISIONS FOR LIABILITIES 17 (761,729 ) (706,333 )
NET ASSETS 4,799,432 3,664,128

CAPITAL AND RESERVES
Called up share capital 18 4 4
Retained earnings 19 4,799,428 3,664,124
SHAREHOLDERS' FUNDS 4,799,432 3,664,128

The financial statements were approved by the director and authorised for issue on 12 September 2024 and were signed by:





C S J Currie - Director


Halchar Limited (Registered number: 11189151)

Company Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 3,217,548 1,779,249
Investments 11 570,003 3
3,787,551 1,779,252

CURRENT ASSETS
Debtors 13 1,590,328 1,409,006
Cash at bank 8,957 10,203
1,599,285 1,419,209
CREDITORS
Amounts falling due within one year 14 1,610,014 690,405
NET CURRENT (LIABILITIES)/ASSETS (10,729 ) 728,804
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,776,822

2,508,056

CAPITAL AND RESERVES
Called up share capital 18 4 4
Retained earnings 3,776,818 2,508,052
SHAREHOLDERS' FUNDS 3,776,822 2,508,056

Company's profit for the financial year 1,358,766 2,531,129

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 12 September 2024 and were signed by:





C S J Currie - Director


Halchar Limited (Registered number: 11189151)

Consolidated Statement of Changes in Equity
for the Year Ended 30 June 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2021 4 3,549,788 3,549,792

Changes in equity
Dividends - (45,000 ) (45,000 )
Total comprehensive income - 159,336 159,336
Balance at 30 June 2022 4 3,664,124 3,664,128

Changes in equity
Dividends - (90,000 ) (90,000 )
Total comprehensive income - 1,225,304 1,225,304
Balance at 30 June 2023 4 4,799,428 4,799,432

Halchar Limited (Registered number: 11189151)

Company Statement of Changes in Equity
for the Year Ended 30 June 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2021 1 (23,077 ) (23,076 )

Changes in equity
Issue of share capital 3 - 3
Total comprehensive income - 2,531,129 2,531,129
Balance at 30 June 2022 4 2,508,052 2,508,056

Changes in equity
Dividends - (90,000 ) (90,000 )
Total comprehensive income - 1,358,766 1,358,766
Balance at 30 June 2023 4 3,776,818 3,776,822

Halchar Limited (Registered number: 11189151)

Consolidated Cash Flow Statement
for the Year Ended 30 June 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,336,109 1,413,260
Interest paid (10,756 ) (11,567 )
Interest element of hire purchase payments
paid

(88,847

)

(93,752

)
Tax paid (242,034 ) (200,690 )
Net cash from operating activities 1,994,472 1,107,251

Cash flows from investing activities
Purchase of intangible fixed assets (122,532 ) -
Purchase of tangible fixed assets (2,633,428 ) (1,282,196 )
Sale of tangible fixed assets 123,000 3,694
Net cash from investing activities (2,632,960 ) (1,278,502 )

Cash flows from financing activities
New loans and capital repayments in year 383,772 421,506
Amount introduced by directors 96,629 -
Amount withdrawn by directors - (480,067 )
Equity dividends paid (90,000 ) (45,000 )
Net cash from financing activities 390,401 (103,561 )

Decrease in cash and cash equivalents (248,087 ) (274,812 )
Cash and cash equivalents at beginning
of year

2

492,910

767,722

Cash and cash equivalents at end of year 2 244,823 492,910

Halchar Limited (Registered number: 11189151)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 June 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Profit before taxation 1,488,339 383,800
Depreciation charges 769,047 778,439
Loss on disposal of fixed assets 47,823 440,804
Government grants - (5,353 )
Finance costs 99,603 105,319
2,404,812 1,703,009
Increase in stocks (567,799 ) (2,380 )
(Increase)/decrease in trade and other debtors (458,033 ) 1,339,736
Increase/(decrease) in trade and other creditors 957,129 (1,627,105 )
Cash generated from operations 2,336,109 1,413,260

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 244,823 492,910
Year ended 30 June 2022
30.6.22 1.7.21
£    £   
Cash and cash equivalents 492,910 767,722


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.7.22 Cash flow At 30.6.23
£    £    £   
Net cash
Cash at bank 492,910 (248,087 ) 244,823
492,910 (248,087 ) 244,823
Debt
Finance leases (1,715,443 ) (377,494 ) (2,092,937 )
(1,715,443 ) (377,494 ) (2,092,937 )
Total (1,222,533 ) (625,581 ) (1,848,114 )

Halchar Limited (Registered number: 11189151)

Notes to the Consolidated Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Halchar 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Tangible fixed assets are held at cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold improvements- 5 % on costs
Plant and machinery- At varying rates on reducing balance
Fixtures and fittings- 20% on reducing balance
Motor cars - 20% on reducing balance
Computer equipment- 20% on reducing balance

No depreciation is provided on Land and Buildings.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 balance sheet date.


Halchar Limited (Registered number: 11189151)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 1,343,801 1,265,586
Social security costs 147,229 136,022
Other pension costs 29,572 27,192
1,520,602 1,428,800

The average number of employees during the year was as follows:
2023 2022

Direct and administrative employees 40 39

2023 2022
£    £   
Director's remuneration 9,600 9,600
Director's pension contributions to money purchase schemes 101 101

4. OPERATING PROFIT

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

2023 2022
£    £   
Hire of plant and machinery 136,088 16,744
Other operating leases 9,800 -
Depreciation - owned assets 768,905 778,440
Loss on disposal of fixed assets 47,823 440,804
Goodwill amortisation 5,314 -
Foreign exchange differences (193 ) -

Halchar Limited (Registered number: 11189151)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest - 92
Bank charges 10,746 10,255
Other interest payable 10 1,220
Hire purchase charges 88,822 93,752
Late payment interest charge 25 -
99,603 105,319

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 208,742 220,658
Prior year overprovision 3 -
Total current tax 208,745 220,658

Deferred tax 54,290 3,806
Tax on profit 263,035 224,464

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Interim 90,000 45,000

9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
Additions 122,532
At 30 June 2023 122,532
AMORTISATION
Amortisation for year 5,314
At 30 June 2023 5,314
NET BOOK VALUE
At 30 June 2023 117,218

Halchar Limited (Registered number: 11189151)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

10. TANGIBLE FIXED ASSETS

Group
Land and Short Plant and
Buildings leasehold machinery
£    £    £   
COST
At 1 July 2022 1,880,119 159,179 5,788,146
Additions 1,029,799 - 1,582,817
Disposals - - (368,450 )
At 30 June 2023 2,909,918 159,179 7,002,513
DEPRECIATION
At 1 July 2022 - 18,393 2,489,670
Charge for year - 7,040 728,257
Eliminated on disposal - - (197,627 )
At 30 June 2023 - 25,433 3,020,300
NET BOOK VALUE
At 30 June 2023 2,909,918 133,746 3,982,213
At 30 June 2022 1,880,119 140,786 3,298,476

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 7,801 262,799 16,333 8,114,377
Additions 17,632 - 3,180 2,633,428
Disposals - - - (368,450 )
At 30 June 2023 25,433 262,799 19,513 10,379,355
DEPRECIATION
At 1 July 2022 3,141 101,409 5,273 2,617,886
Charge for year 3,637 27,153 2,818 768,905
Eliminated on disposal - - - (197,627 )
At 30 June 2023 6,778 128,562 8,091 3,189,164
NET BOOK VALUE
At 30 June 2023 18,655 134,237 11,422 7,190,191
At 30 June 2022 4,660 161,390 11,060 5,496,491

Halchar Limited (Registered number: 11189151)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

10. TANGIBLE FIXED ASSETS - continued

Company
Land and Plant and
Buildings machinery Totals
£    £    £   
COST
At 1 July 2022 1,779,249 - 1,779,249
Additions 1,029,799 430,000 1,459,799
At 30 June 2023 2,809,048 430,000 3,239,048
DEPRECIATION
Charge for year - 21,500 21,500
At 30 June 2023 - 21,500 21,500
NET BOOK VALUE
At 30 June 2023 2,809,048 408,500 3,217,548
At 30 June 2022 1,779,249 - 1,779,249

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 July 2022 3
Additions 570,000
At 30 June 2023 570,003
NET BOOK VALUE
At 30 June 2023 570,003
At 30 June 2022 3


12. STOCKS

Group
2023 2022
£    £   
Stocks 572,177 4,378

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 964,857 709,233 - 8,205
Amounts owed by group undertakings - - 283,264 1,386,567
Other debtors 576,535 300,631 425,908 -
Directors' current accounts 811,706 908,335 811,706 -
VAT - - 69,450 637
Prepayments and accrued income 41,707 115,202 - 13,597
2,394,805 2,033,401 1,590,328 1,409,006

Halchar Limited (Registered number: 11189151)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Hire purchase contracts (see note 16) 452,043 541,652 - -
Trade creditors 1,339,257 383,206 288,897 3,942
Amounts owed to group undertakings - - 372,696 -
Tax 637,580 670,869 273,951 13,182
Social security and other taxes 42,316 43,512 - -
VAT 137,803 133,458 - -
Other creditors 686,380 671,415 670,000 670,000
Accruals and deferred income 21,780 38,816 4,470 3,281
3,317,159 2,482,928 1,610,014 690,405

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
2023 2022
£    £   
Hire purchase contracts (see note 16) 1,640,894 1,173,791

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 452,043 541,652
Between one and five years 1,640,894 1,173,791
2,092,937 1,715,443

17. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax 761,729 706,333

Group
Deferred
tax
£   
Balance at 1 July 2022 706,333
Provided during year 55,396
Balance at 30 June 2023 761,729

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4 Ordinary £1 4 4

Halchar Limited (Registered number: 11189151)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

19. RESERVES

Group
Retained
earnings
£   

At 1 July 2022 3,664,124
Profit for the year 1,225,304
Dividends (90,000 )
At 30 June 2023 4,799,428


20. CONTINGENT LIABILITIES

At the year end a subsidiary of the group, Insta Waste Solutions Limited, had an ongoing material potential contingent liability, the outcome of which will not be determined until after the approval of these financial statements. Given the level of uncertainty as to liability and the quantification of any potential liability based on future events it is impracticable to provide further information in the notes to the accounts. This potential liability is also referred to in the auditors report.

21. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
C S J Currie
Balance outstanding at start of year 908,335 428,268
Amounts advanced - 480,067
Amounts repaid (96,629 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 811,706 908,335

22. RELATED PARTY DISCLOSURES

The group incurred consultancy costs amounting to £600,000 (2022: £nil) with Island Speed Services Limited, a company incorporated in the Isle of Man. C S J Currie is the owner of the Island Speed Services Limited. At the year end a balance of £720,000 was owed to Island Speed Services Limited and is included in trade creditors.

At the year end, a balance of £151,957 (2022: £nil) was due to the group from Azione1 Limited, a company in which C S J Currie is a director. This amount is disclosed within other debtors.

23. ULTIMATE CONTROLLING PARTY

The company is controlled by C S J Currie.