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Registration number: 03023468

Hallatrow Business Park Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Hallatrow Business Park Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Hallatrow Business Park Limited

Company Information

Directors

Mr C D Hitchings

Mr D J Hitchings

Miss E Hitchings

Mrs M Hitchings

Company secretary

Mr D J Hitchings

Registered office

The Grain Bin
Corston
Bath
BA2 9AP

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Hallatrow Business Park Limited

(Registration number: 03023468)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

1,415,122

1,391,699

Current assets

 

Debtors

4

1,560,362

1,277,532

Cash at bank and in hand

 

15,140

22,006

 

1,575,502

1,299,538

Creditors: Amounts falling due within one year

5

(252,990)

(162,537)

Net current assets

 

1,322,512

1,137,001

Total assets less current liabilities

 

2,737,634

2,528,700

Creditors: Amounts falling due after more than one year

5

(40,000)

(54,000)

Provisions for liabilities

(9,639)

(9,995)

Net assets

 

2,687,995

2,464,705

Capital and reserves

 

Called up share capital

6

3,000

3,000

Retained earnings

2,684,995

2,461,705

Shareholders' funds

 

2,687,995

2,464,705

For the financial year ending 29 February 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.

 

Hallatrow Business Park Limited

(Registration number: 03023468)
Balance Sheet as at 29 February 2024

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 November 2024 and signed on its behalf by:
 

.........................................
Mr D J Hitchings
Company secretary and director

 

Hallatrow Business Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

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.

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 sales/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 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.

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.

 

Hallatrow Business Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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

Plant and machinery

10% straight line

Equipment

10% 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 merchandise sold or 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.

 

Hallatrow Business Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Hallatrow Business Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

3

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

1,381,819

155,867

8,078

1,545,764

Additions

24,844

-

-

24,844

Disposals

-

(36,326)

-

(36,326)

At 29 February 2024

1,406,663

119,541

8,078

1,534,282

Depreciation

At 1 March 2023

-

147,487

6,578

154,065

Charge for the year

-

1,047

375

1,422

Eliminated on disposal

-

(36,327)

-

(36,327)

At 29 February 2024

-

112,207

6,953

119,160

Carrying amount

At 29 February 2024

1,406,663

7,334

1,125

1,415,122

At 28 February 2023

1,381,819

8,380

1,500

1,391,699

Included within the net book value of land and buildings above is £1,406,663 (2023 - £1,381,819) in respect of freehold land and buildings.
 

4

Debtors

Current

2024
£

2023
£

Trade debtors

44,713

53,624

Prepayments

32,557

19,455

Other debtors

1,483,092

1,204,453

 

1,560,362

1,277,532

 

Hallatrow Business Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,000

40,242

Taxation and social security

383

-

Accruals and deferred income

47,183

61,611

Other creditors

204,424

60,684

252,990

162,537

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

40,000

54,000

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

3,000

3,000

3,000

3,000

         

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

40,000

54,000

 

Hallatrow Business Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Related party transactions

Loans from related parties

2024

Key management
£

Total
£

At start of period

54,000

54,000

Repaid

(14,000)

(14,000)

At end of period

40,000

40,000

2023

Key management
£

Total
£

At start of period

67,000

67,000

Repaid

(13,000)

(13,000)

At end of period

54,000

54,000

Terms of loans from related parties

Loan interest paid during the year of £2,996 (2022 - £3,639)