IRIS Accounts Production v24.2.0.383 01851904 director 1.1.23 31.12.23 31.12.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh018519042022-12-31018519042023-12-31018519042023-01-012023-12-31018519042021-12-31018519042022-01-012022-12-31018519042022-12-3101851904ns15:EnglandWales2023-01-012023-12-3101851904ns14:PoundSterling2023-01-012023-12-3101851904ns10:Director12023-01-012023-12-3101851904ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3101851904ns10:SmallEntities2023-01-012023-12-3101851904ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3101851904ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3101851904ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3101851904ns10:FullAccounts2023-01-012023-12-310185190412023-01-012023-12-3101851904ns10:OrdinaryShareClass12023-01-012023-12-3101851904ns10:CompanySecretary12023-01-012023-12-3101851904ns10:RegisteredOffice2023-01-012023-12-3101851904ns5:CurrentFinancialInstruments2023-12-3101851904ns5:CurrentFinancialInstruments2022-12-3101851904ns5:Non-currentFinancialInstruments2023-12-3101851904ns5:Non-currentFinancialInstruments2022-12-3101851904ns5:ShareCapital2023-12-3101851904ns5:ShareCapital2022-12-3101851904ns5:RevaluationReserve2023-12-3101851904ns5:RevaluationReserve2022-12-3101851904ns5:CapitalRedemptionReserve2023-12-3101851904ns5:CapitalRedemptionReserve2022-12-3101851904ns5:RetainedEarningsAccumulatedLosses2023-12-3101851904ns5:RetainedEarningsAccumulatedLosses2022-12-3101851904ns5:NetGoodwill2023-01-012023-12-3101851904ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-01-012023-12-3101851904ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-01-012023-12-3101851904ns5:PlantMachinery2023-01-012023-12-3101851904ns5:FurnitureFittings2023-01-012023-12-3101851904ns5:MotorVehicles2023-01-012023-12-3101851904ns5:NetGoodwill2022-12-3101851904ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-3101851904ns5:NetGoodwill2023-12-3101851904ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-12-3101851904ns5:NetGoodwill2022-12-3101851904ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-3101851904ns5:LandBuildings2022-12-3101851904ns5:PlantMachinery2022-12-3101851904ns5:FurnitureFittings2022-12-3101851904ns5:MotorVehicles2022-12-3101851904ns5:LandBuildings2023-01-012023-12-3101851904ns5:LandBuildings2023-12-3101851904ns5:PlantMachinery2023-12-3101851904ns5:FurnitureFittings2023-12-3101851904ns5:MotorVehicles2023-12-3101851904ns5:LandBuildings2022-12-3101851904ns5:PlantMachinery2022-12-3101851904ns5:FurnitureFittings2022-12-3101851904ns5:MotorVehicles2022-12-3101851904ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3101851904ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3101851904ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-3101851904ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3101851904ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3101851904ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-3101851904ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-12-3101851904ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2022-12-3101851904ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-12-3101851904ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2022-12-3101851904ns5:HirePurchaseContracts2023-12-3101851904ns5:HirePurchaseContracts2022-12-3101851904ns5:WithinOneYear2023-12-3101851904ns5:WithinOneYear2022-12-3101851904ns5:BetweenOneFiveYears2023-12-3101851904ns5:BetweenOneFiveYears2022-12-3101851904ns5:AllPeriods2023-12-3101851904ns5:AllPeriods2022-12-3101851904ns5:Secured2023-12-3101851904ns5:Secured2022-12-3101851904ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 01851904 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Hallmarket Limited

Hallmarket Limited (Registered number: 01851904)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hallmarket Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: R N Winwood





SECRETARY: Mrs T L Winwood





REGISTERED OFFICE: Pendeford Hall Farm
Pendeford Hall Lane
Coven
Wolverhampton
West Midlands
WV9 5BD





REGISTERED NUMBER: 01851904 (England and Wales)





ACCOUNTANTS: Haines Watts Wolverhampton Limited
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Hallmarket Limited (Registered number: 01851904)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 109,968 113,086
Tangible assets 5 1,036,712 811,582
1,146,680 924,668

CURRENT ASSETS
Stocks 379,349 338,844
Debtors 6 191,569 112,460
Cash at bank and in hand 12,098 24,015
583,016 475,319
CREDITORS
Amounts falling due within one year 7 617,691 273,888
NET CURRENT (LIABILITIES)/ASSETS (34,675 ) 201,431
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,112,005

1,126,099

CREDITORS
Amounts falling due after more than one
year

8

(491,899

)

(648,169

)

PROVISIONS FOR LIABILITIES (76,962 ) (39,828 )

ACCRUALS AND DEFERRED INCOME - (68,000 )
NET ASSETS 543,144 370,102

CAPITAL AND RESERVES
Called up share capital 11 10,125 10,125
Revaluation reserve 12 189,955 -
Capital redemption reserve 3,375 3,375
Retained earnings 339,689 356,602
SHAREHOLDERS' FUNDS 543,144 370,102

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 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.

Hallmarket Limited (Registered number: 01851904)

Balance Sheet - 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 Profit and loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2024 and were signed by:





R N Winwood - Director


Hallmarket Limited (Registered number: 01851904)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Hallmarket 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 as modified by the revaluation of certain assets.

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 2002, is being amortised evenly over its estimated useful life of twenty years.

Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the director is satisfied as to the viability of individual projects. In this situation the expenditure is deferred and amortised over the period during which the company is expected to benefit. These periods range from 1 to 15 years,

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 20 - 33% on cost
Motor vehicles - 20% on cost

Subsequent to the depreciation charge, directors annually review the Net Book Value of tangible fixed assets. This value is amended to more accurately reflect the value of the assets through the reduction in the annual depreciation charge.

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

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.


Hallmarket Limited (Registered number: 01851904)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 15 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Development
Goodwill costs Totals
£    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 10,000 187,060 197,060
AMORTISATION
At 1 January 2023 10,000 73,974 83,974
Amortisation for year - 18,706 18,706
Revaluation adjustments - (15,588 ) (15,588 )
At 31 December 2023 10,000 77,092 87,092
NET BOOK VALUE
At 31 December 2023 - 109,968 109,968
At 31 December 2022 - 113,086 113,086


Hallmarket Limited (Registered number: 01851904)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2023 715,046 202,854 56,193 51,527 1,025,620
Additions - 2,394 767 - 3,161
Revaluations 225,354 - - - 225,354
At 31 December 2023 940,400 205,248 56,960 51,527 1,254,135
DEPRECIATION
At 1 January 2023 - 112,674 49,837 51,527 214,038
Charge for year - 16,751 3,135 - 19,886
Revaluation adjustments - (14,000 ) (2,501 ) - (16,501 )
At 31 December 2023 - 115,425 50,471 51,527 217,423
NET BOOK VALUE
At 31 December 2023 940,400 89,823 6,489 - 1,036,712
At 31 December 2022 715,046 90,180 6,356 - 811,582

Included in cost or valuation of land and buildings is freehold land of £ 940,400 (2022 - £ 715,046 ) which is not depreciated.


Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 27,055
DEPRECIATION
At 1 January 2023 8,117
Charge for year 2,705
Revaluation adjustments (2,255 )
At 31 December 2023 8,567
NET BOOK VALUE
At 31 December 2023 18,488
At 31 December 2022 18,938

Hallmarket Limited (Registered number: 01851904)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,542 30,965
Amounts owed by group undertakings 188,027 -
Amounts owed by participating interests - 80,072
Other debtors - 1,423
191,569 112,460

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 110,907 102,569
Hire purchase contracts (see note 9) 3,490 5,162
Trade creditors 39,173 55,996
Taxation and social security 64,851 74,975
Other creditors 399,270 35,186
617,691 273,888

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 491,899 569,679
Hire purchase contracts (see note 9) - 3,490
Other creditors - 75,000
491,899 648,169

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 141,141 188,570

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 3,490 5,162
Between one and five years - 3,490
3,490 8,652

Hallmarket Limited (Registered number: 01851904)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2023 2022
£    £   
Within one year - 5,162
Between one and five years - 3,490
- 8,652

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 3,426 -
Bank loans 599,380 672,248
Hire purchase contracts 3,490 8,652
606,296 680,900

The bank overdraft, bank loan and mortgage are secured by fixed and floating charges over the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,125 Ordinary 1 10,125 10,125

12. RESERVES
Revaluation
reserve
£   
Revaluation in year, net of
associated tax effects 189,955

At 31 December 2023 189,955