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Registration number: 10773301

Iain Hall Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Company Information

Director

Mr Iain Martin Hall

Registered office

19 Hales Road
Wortley
Leeds
West Yorkshire
LS12 4PL

 

(Registration number: 10773301)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

5

1,724,293

1,345,920

Investments

6

1,000

1,000

 

1,725,293

1,346,920

Current assets

 

Debtors

7

1,294

4,263

Cash at bank and in hand

 

605,379

901,535

 

606,673

905,798

Creditors: Amounts falling due within one year

8

(4,118)

(14,293)

Net current assets

 

602,555

891,505

Net assets

 

2,327,848

2,238,425

Capital and reserves

 

Called up share capital

9

1,000

1,000

Retained earnings

2,326,848

2,237,425

Shareholders' funds

 

2,327,848

2,238,425

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.

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 30 November 2024
 

.........................................
Mr Iain Martin Hall
Director

 

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

1

General information

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

The address of its registered office is:
19 Hales Road
Wortley
Leeds
West Yorkshire
LS12 4PL

These financial statements were authorised for issue by the director on 30 November 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.

Group accounts not prepared

The company is a parent company subject to the small companies regime. The company and its subsidiaries comprise a small group. The company has taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts..

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 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 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.

 

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:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

 

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Cost or valuation

Depreciation

Carrying amount

At 29 February 2024

5

Investment properties

2024
£

At 1 March

1,345,920

Additions

378,373

At 29 February

1,724,293

There has been no valuation of investment property by an independent valuer.

6

Investments

2024
£

2023
£

Investments in subsidiaries

1,000

1,000

Subsidiaries

£

Cost or valuation

At 1 March 2023

1,000

Provision

Carrying amount

At 29 February 2024

1,000

At 28 February 2023

1,000

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

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

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Iain Hall Sealants Limited

19 Hales Road, Wortley, Leeds, West Yorkshire. LS12 4PL

England

Ordinary shares

100%

100%

Iain Hall Sealant Supplies Limited

19 Hales Road, Wortley, Leeds, West Yorkshire. LS12 4PL

England

Ordinary shares

100%

100%

Subsidiary undertakings

Iain Hall Sealants Limited

The principal activity of Iain Hall Sealants Limited is Sealant applicators to the construction industry..

Iain Hall Sealant Supplies Limited

The principal activity of Iain Hall Sealant Supplies Limited is Agent for Iain Hall Sealants Limited.

7

Debtors

Current

2024
£

2023
£

Trade debtors

965

-

Prepayments

329

4,263

 

1,294

4,263

 

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,855

8,580

Accruals and deferred income

1,250

600

Other creditors

13

5,113

4,118

14,293

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

10

Dividends

2024

2023

£

£

Interim dividend of £60.00 (2023 - £60.00) per ordinary share

60,000

60,000

 

 

11

Related party transactions

 

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

Dividends paid to directors

2024
£

2023
£

Mr Iain Martin Hall

Iain Martin Hall

60,000

60,000