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HALSEY & CO (ACCOUNTANTS) LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023






HALSEY & CO (ACCOUNTANTS) LTD (REGISTERED NUMBER: 07289863)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HALSEY & CO (ACCOUNTANTS) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTOR: R J Halsey BSc (Hons) FCCA





REGISTERED OFFICE: 2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ





REGISTERED NUMBER: 07289863 (England and Wales)






HALSEY & CO (ACCOUNTANTS) LTD (REGISTERED NUMBER: 07289863)

BALANCE SHEET
31ST DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 90,000 105,000
Tangible assets 5 12,713 11,651
102,713 116,651

CURRENT ASSETS
Stocks 46,698 23,707
Debtors 6 134,606 114,906
Cash at bank and in hand 182,857 187,889
364,161 326,502
CREDITORS
Amounts falling due within one year 7 188,045 219,321
NET CURRENT ASSETS 176,116 107,181
TOTAL ASSETS LESS CURRENT
LIABILITIES

278,829

223,832

PROVISIONS FOR LIABILITIES 2,004 1,900
NET ASSETS 276,825 221,932

CAPITAL AND RESERVES
Called up share capital 104 104
Retained earnings 276,721 221,828
SHAREHOLDERS' FUNDS 276,825 221,932

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HALSEY & CO (ACCOUNTANTS) LTD (REGISTERED NUMBER: 07289863)

BALANCE SHEET - continued
31ST 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 director and authorised for issue on 19th August 2024 and were signed by:





R J Halsey BSc (Hons) FCCA - Director


HALSEY & CO (ACCOUNTANTS) LTD (REGISTERED NUMBER: 07289863)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Halsey & Co (Accountants) 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
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.

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

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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.

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.

HALSEY & CO (ACCOUNTANTS) LTD (REGISTERED NUMBER: 07289863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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 8 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 300,000
AMORTISATION
At 1st January 2023 195,000
Charge for year 15,000
At 31st December 2023 210,000
NET BOOK VALUE
At 31st December 2023 90,000
At 31st December 2022 105,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st January 2023 1,315 19,126 40,804 61,245
Additions - 2,257 2,030 4,287
At 31st December 2023 1,315 21,383 42,834 65,532
DEPRECIATION
At 1st January 2023 575 16,490 32,529 49,594
Charge for year 185 979 2,061 3,225
At 31st December 2023 760 17,469 34,590 52,819
NET BOOK VALUE
At 31st December 2023 555 3,914 8,244 12,713
At 31st December 2022 740 2,636 8,275 11,651

HALSEY & CO (ACCOUNTANTS) LTD (REGISTERED NUMBER: 07289863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 119,508 87,570
Other debtors 15,098 27,336
134,606 114,906

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 12,681 20,568
Taxation and social security 115,197 137,905
Other creditors 60,167 60,848
188,045 219,321