Company registration number 04755022 (England and Wales)
P HALLIDAY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
92 Station Road
Clacton on Sea
Essex
CO15 1SG
P HALLIDAY LTD
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
P HALLIDAY LTD
COMPANY INFORMATION
- 1 -
Director
Mr P Halliday
Company number
04755022
Registered office
36 Gorse Lane
Clacton on Sea
Essex
CO15 4RN
Accountants
TC Group
92 Station Road
Clacton on Sea
Essex
CO15 1SG
P HALLIDAY LTD
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
23,080
30,361
Current assets
Debtors
5
1,425
1,249
Cash at bank and in hand
371,006
325,382
372,431
326,631
Creditors: amounts falling due within one year
6
(156,258)
(141,955)
Net current assets
216,173
184,676
Total assets less current liabilities
239,253
215,037
Creditors: amounts falling due after more than one year
7
-
0
(410)
Provisions for liabilities
(2,863)
(5,060)
Net assets
236,390
209,567
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
236,388
209,565
Total equity
236,390
209,567
P HALLIDAY LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024
31 May 2024
- 3 -

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 9 September 2024
Mr P  Halliday
Director
Company Registration No. 04755022
The notes on pages 4 to 7 form part of these financial statements
P HALLIDAY LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024
31 May 2024
- 4 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.

 

2
Accounting policies
Company information

P Halliday Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 36 Gorse Lane, Clacton on Sea, Essex, CO15 4RN.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

2.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

2.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance
Equipment
50% reducing balance
Motor vehicles
25% reducing balance
P HALLIDAY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
2
Accounting policies
(Continued)
- 5 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
5
5
P HALLIDAY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
4
Tangible fixed assets
Plant and equipment
Equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2023
10,995
737
45,295
57,027
Additions
811
-
0
-
0
811
Disposals
-
0
-
0
(3,800)
(3,800)
At 31 May 2024
11,806
737
41,495
54,038
Depreciation and impairment
At 1 June 2023
6,357
737
19,572
26,666
Depreciation charged in the year
1,281
-
0
6,304
7,585
Eliminated in respect of disposals
-
0
-
0
(3,293)
(3,293)
At 31 May 2024
7,638
737
22,583
30,958
Carrying amount
At 31 May 2024
4,168
-
0
18,912
23,080
At 31 May 2023
4,638
-
0
25,723
30,361
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,425
1,249
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
19,298
19,406
Taxation and social security
30,224
11,849
Other creditors
106,736
110,700
156,258
141,955
P HALLIDAY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 7 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
-
0
410
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