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REGISTERED NUMBER: 05292642 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

HALLCLIP LIMITED

HALLCLIP LIMITED (REGISTERED NUMBER: 05292642)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HALLCLIP LIMITED

Company Information
for the Year Ended 31st March 2024







DIRECTORS: Mrs E L Hall
Mr J Hall
Mrs J L Ashcroft
Mrs J L Green
Mrs J M White





SECRETARY: Mrs E L Hall





REGISTERED OFFICE: 120 Clydesdale Place
Moss Side Industrial Estate
Leyland
Lancashire
PR26 7QS





REGISTERED NUMBER: 05292642 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

HALLCLIP LIMITED (REGISTERED NUMBER: 05292642)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,327 3,515
Tangible assets 5 1,178,425 1,076,889
1,202,752 1,080,404

CURRENT ASSETS
Stocks 6 461,032 199,928
Debtors 7 775,670 766,027
Cash at bank and in hand 579,725 446,151
1,816,427 1,412,106
CREDITORS
Amounts falling due within one year 8 546,626 551,335
NET CURRENT ASSETS 1,269,801 860,771
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,472,553

1,941,175

CREDITORS
Amounts falling due after more than one
year

9

(35,460

)

-

PROVISIONS FOR LIABILITIES (50,963 ) (20,123 )
NET ASSETS 2,386,130 1,921,052

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,386,030 1,920,952
SHAREHOLDERS' FUNDS 2,386,130 1,921,052

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

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

HALLCLIP LIMITED (REGISTERED NUMBER: 05292642)

Balance Sheet - continued
31st March 2024


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 1st August 2024 and were signed on its behalf by:




Mrs J M White - Director Mrs J L Ashcroft - Director




Mrs J L Green - Director


HALLCLIP LIMITED (REGISTERED NUMBER: 05292642)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Hallclip 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.

Revenue recognition
Revenue represents the value of goods, excluding value added tax, provided to customers during the year.
Revenue is recognised when the following conditions are satisfied:

- the benefits of the services passes to the customers,
- it is probable that the economic benefits associated with the transaction will flow to the entity; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Patents are amortised at 20% per annum on a straight line basis.

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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

In a departure from FRS 102 Section 1A for small entities, no depreciation is provided in respect of freehold properties or capital improvements to properties. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. The directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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

HALLCLIP LIMITED (REGISTERED NUMBER: 05292642)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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
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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 28 ) .

HALLCLIP LIMITED (REGISTERED NUMBER: 05292642)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. INTANGIBLE FIXED ASSETS
Patents
and Computer
licences software Totals
£    £    £   
COST
At 1st April 2023 6,942 - 6,942
Additions 16,960 7,995 24,955
At 31st March 2024 23,902 7,995 31,897
AMORTISATION
At 1st April 2023 3,427 - 3,427
Amortisation for year 2,644 1,499 4,143
At 31st March 2024 6,071 1,499 7,570
NET BOOK VALUE
At 31st March 2024 17,831 6,496 24,327
At 31st March 2023 3,515 - 3,515

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1st April 2023 935,796 64,753 93,450
Additions - 8,274 57,765
Disposals - - (3,500 )
At 31st March 2024 935,796 73,027 147,715
DEPRECIATION
At 1st April 2023 - - 32,957
Charge for year - - 18,934
Eliminated on disposal - - (1,075 )
At 31st March 2024 - - 50,816
NET BOOK VALUE
At 31st March 2024 935,796 73,027 96,899
At 31st March 2023 935,796 64,753 60,493

HALLCLIP LIMITED (REGISTERED NUMBER: 05292642)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st April 2023 26,928 25,073 1,146,000
Additions 57,280 10,333 133,652
Disposals - - (3,500 )
At 31st March 2024 84,208 35,406 1,276,152
DEPRECIATION
At 1st April 2023 21,201 14,953 69,111
Charge for year 6,205 4,552 29,691
Eliminated on disposal - - (1,075 )
At 31st March 2024 27,406 19,505 97,727
NET BOOK VALUE
At 31st March 2024 56,802 15,901 1,178,425
At 31st March 2023 5,727 10,120 1,076,889

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 57,280
At 31st March 2024 57,280
DEPRECIATION
Charge for year 4,773
At 31st March 2024 4,773
NET BOOK VALUE
At 31st March 2024 52,507

6. STOCKS
31.3.24 31.3.23
£    £   
Stocks 461,032 199,928

HALLCLIP LIMITED (REGISTERED NUMBER: 05292642)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 530,070 597,560
Other debtors 153,509 155,654
Social security and other tax 27,324 -
Directors' current accounts 4,000 -
Prepayments 60,767 12,813
775,670 766,027

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts (see note 10) 9,456 -
Trade creditors 277,017 207,805
Tax 196,207 212,780
Social security and other taxes 10,961 73,811
Directors' current accounts 470 29
Accrued expenses 52,515 56,910
546,626 551,335

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts (see note 10) 35,460 -

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 9,456 -
Between one and five years 35,460 -
44,916 -

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 8,982 17,964
Between one and five years 8,982 17,964
17,964 35,928

HALLCLIP LIMITED (REGISTERED NUMBER: 05292642)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 44,916 -

The hire purchase creditor is secured against the asset to which it relates.

12. RELATED PARTY DISCLOSURES

As at 31 March 2024 the company owed £470 to directors Mr J and Mrs L Hall (2023: £29). No interest has been charged to the company in respect of this loan and it is repayable on demand.

As at 31 March 2024 the company was owed £4,000 by Mrs J Ashcroft, a director. No interest has been charged by the company in respect of this loan. Mrs J Ashcroft has settled this loan in full after the year end date, in April 2024.