Halo Marketing Solutions Ltd 08604244 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is media representation services. Digita Accounts Production Advanced 6.30.9574.0 true true 08604244 2023-08-01 2024-07-31 08604244 2024-07-31 08604244 bus:Director1 1 2024-07-31 08604244 bus:OrdinaryShareClass1 2024-07-31 08604244 bus:OrdinaryShareClass2 2024-07-31 08604244 core:RetainedEarningsAccumulatedLosses 2024-07-31 08604244 core:ShareCapital 2024-07-31 08604244 core:CurrentFinancialInstruments 2024-07-31 08604244 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 08604244 core:Non-currentFinancialInstruments 2024-07-31 08604244 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 08604244 core:BetweenTwoFiveYears 2024-07-31 08604244 core:WithinOneYear 2024-07-31 08604244 core:OfficeEquipment 2024-07-31 08604244 bus:SmallEntities 2023-08-01 2024-07-31 08604244 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 08604244 bus:FilletedAccounts 2023-08-01 2024-07-31 08604244 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 08604244 bus:RegisteredOffice 2023-08-01 2024-07-31 08604244 bus:Director1 2023-08-01 2024-07-31 08604244 bus:Director1 1 2023-08-01 2024-07-31 08604244 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 08604244 bus:OrdinaryShareClass2 2023-08-01 2024-07-31 08604244 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08604244 core:OfficeEquipment 2023-08-01 2024-07-31 08604244 countries:England 2023-08-01 2024-07-31 08604244 2023-07-31 08604244 bus:Director1 1 2023-07-31 08604244 core:OfficeEquipment 2023-07-31 08604244 2022-08-01 2023-07-31 08604244 2023-07-31 08604244 bus:Director1 1 2023-07-31 08604244 bus:OrdinaryShareClass1 2023-07-31 08604244 bus:OrdinaryShareClass2 2023-07-31 08604244 core:RetainedEarningsAccumulatedLosses 2023-07-31 08604244 core:ShareCapital 2023-07-31 08604244 core:CurrentFinancialInstruments 2023-07-31 08604244 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 08604244 core:Non-currentFinancialInstruments 2023-07-31 08604244 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 08604244 core:BetweenTwoFiveYears 2023-07-31 08604244 core:WithinOneYear 2023-07-31 08604244 core:OfficeEquipment 2023-07-31 08604244 bus:Director1 1 2022-08-01 2023-07-31 08604244 bus:Director1 1 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08604244

Halo Marketing Solutions Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Halo Marketing Solutions Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Halo Marketing Solutions Ltd

(Registration number: 08604244)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,494

2,080

Current assets

 

Debtors

5

40,465

40,612

Cash at bank and in hand

 

34,146

32,740

 

74,611

73,352

Creditors: Amounts falling due within one year

6

(39,950)

(42,429)

Net current assets

 

34,661

30,923

Total assets less current liabilities

 

36,155

33,003

Creditors: Amounts falling due after more than one year

6

(5,403)

(11,411)

Net assets

 

30,752

21,592

Capital and reserves

 

Called up share capital

7

200

200

Retained earnings

30,552

21,392

Shareholders' funds

 

30,752

21,592

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 September 2024
 

.........................................
Mr L D Bower
Director

 

Halo Marketing Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
48 Dumas Drive
Whiteley
Hampshire
PO15 7LU

The principal place of business is:
BizSpace Fareham
Steel House
Solent Business Park
Fareham
Hampshire
PO15 7FP

These financial statements were authorised for issue by the director on 11 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Halo Marketing Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Halo Marketing Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Halo Marketing Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 August 2023

11,862

11,862

Additions

841

841

Disposals

(5,303)

(5,303)

At 31 July 2024

7,400

7,400

Depreciation

At 1 August 2023

9,782

9,782

Charge for the year

827

827

Eliminated on disposal

(4,703)

(4,703)

At 31 July 2024

5,906

5,906

Carrying amount

At 31 July 2024

1,494

1,494

At 31 July 2023

2,080

2,080

5

Debtors

Current

2024
£

2023
£

Trade debtors

25,258

29,007

Prepayments

-

3,121

Other debtors

15,207

8,484

 

40,465

40,612

 

Halo Marketing Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

6,000

6,000

Trade creditors

 

2,463

2,321

Taxation and social security

 

30,823

33,450

Accruals and deferred income

 

508

508

Other creditors

 

156

150

 

39,950

42,429

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

5,403

11,411

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

Ordinary B of £1 each

100

100

100

100

200

200

200

200

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,403

11,411

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,000

6,000

 

Halo Marketing Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

6,810

9,647

Later than one year and not later than five years

6,810

13,619

13,620

23,266

The amount of non-cancellable operating lease payments recognised as an expense during the year was £8,843 (2023 - £Nil).

10

Related party transactions

Transactions with the director

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Mr L D Bower

Director's loan account (interest free and repayable on demand)

7,160

14,000

(7,160)

14,000

2023

At 1 August 2022
£

Advances to director
£

At 31 July 2023
£

Mr L D Bower

Director's loan account (interest free and repayable on demand)

-

7,160

7,160