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Registration number: 08314082

Hallett Investments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Hallett Investments Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Hallett Investments Limited

(Registration number: 08314082)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

13,336

15,501

Investment property

6

923,522

841,924

 

936,858

857,425

Current assets

 

Debtors

7

9,825

7,866

Cash at bank and in hand

 

372,952

424,125

 

382,777

431,991

Creditors: Amounts falling due within one year

8

(1,312,205)

(1,256,183)

Net current liabilities

 

(929,428)

(824,192)

Total assets less current liabilities

 

7,430

33,233

Provisions for liabilities

(2,534)

(2,945)

Net assets

 

4,896

30,288

Capital and reserves

 

Called up share capital

9

200

200

Retained earnings

4,696

30,088

Shareholders' funds

 

4,896

30,288

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

Directors' 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 directors acknowledge their 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.

Approved and authorised by the Board on 25 November 2024 and signed on its behalf by:
 

 

Hallett Investments Limited

(Registration number: 08314082)
Balance Sheet as at 31 March 2024

Mr J N Hallett
Company secretary and director

Mrs S J Hallett
Director

 
     
 

Hallett Investments Limited

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

1

General information

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

The address of its registered office is:
Parkhill Studio
Walton Road
Wetherby
West Yorkshire
LS22 5DZ
England

These financial statements were authorised for issue by the Board on 25 November 2024.

2

Accounting policies

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 received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises current and deferred 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.

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.

 

Hallett Investments Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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 provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Plant and equipment

25% straight line

Investment property

Investment property, which is property held to earn rentals and/or capital appreciation, is intially recorded at cost, which includes purchase price and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Gains or losses arising from the changes in fair value of investment property are included in the profit and loss for the period in which they arise.

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.

3

Staff numbers

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

 

Hallett Investments Limited

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

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

4,859

869

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

6,520

14,950

21,470

Additions

1,457

1,238

2,695

Disposals

(2,998)

-

(2,998)

At 31 March 2024

4,979

16,188

21,167

Depreciation

At 1 April 2023

5,346

623

5,969

Charge for the year

890

3,970

4,860

Eliminated on disposal

(2,998)

-

(2,998)

At 31 March 2024

3,238

4,593

7,831

Carrying amount

At 31 March 2024

1,741

11,595

13,336

At 31 March 2023

1,174

14,327

15,501

6

Investment properties

2024
£

At 1 April

841,924

Acquired through business combinations

81,598

At 31 March

923,522

The fair value of the company's investment property has been derived by the directors based on the current market prices for comparable real estate. The properties will revalued by an independent valuer at the next year end.

 

Hallett Investments Limited

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

7

Debtors

Current

2024
£

2023
£

Prepayments

1,525

864

Other debtors

8,300

7,002

 

9,825

7,866

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

1,304,753

1,253,783

Taxation and social security

 

5,052

-

Accruals and deferred income

 

2,400

2,400

 

1,312,205

1,256,183

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary A shares of £1 each

51

51

51

51

Ordinary B sharges of £1 each

49

49

49

49

200

200

200

200

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

1,304,753

1,253,783