Company registration number 01744779 (England and Wales)
HALLMASON DESIGN LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
HALLMASON DESIGN LTD
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
HALLMASON DESIGN LTD
COMPANY INFORMATION
- 1 -
Directors
Mr P C Dennett
Mr D G Newman
Company number
01744779
Registered office
Road Four
Winsford Industrial Estate
Winsford
Cheshire
UK
CW7 3QN
Accountants
Hallidays
Riverside House
Kings Reach Business Park
Yew Street
Stockport
Cheshire
SK4 2HD
HALLMASON DESIGN LTD
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
10,673
17,879
Current assets
Debtors
5
339,800
409,943
Cash at bank and in hand
41
126,420
339,841
536,363
Creditors: amounts falling due within one year
6
(279,900)
(256,816)
Net current assets
59,941
279,547
Total assets less current liabilities
70,614
297,426
Creditors: amounts falling due after more than one year
7
(248,388)
(350,863)
Provisions for liabilities
11,486
10,816
Net liabilities
(166,288)
(42,621)
Capital and reserves
Called up share capital
9
600
600
Profit and loss reserves
(166,888)
(43,221)
Total equity
(166,288)
(42,621)
HALLMASON DESIGN LTD
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 3 -
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 19 February 2025 and are signed on its behalf by:
Mr P C Dennett
Mr D G Newman
Director
Director
Company registration number 01744779 (England and Wales)
HALLMASON DESIGN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information
Hallmason Design Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Road Four, Winsford Industrial Estate, Winsford, Cheshire, UK, CW7 3QN.
1.1
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. The principal accounting policies adopted are set out below.
The company is part of a small group. The company has taken advantage of the exemption provided by section 398 of the Companies Act 2006 and has not prepared group accounts.
1.2
Going concern
The financial statements have been prepared on a going concern basis. The directors have reviewed thetrue performance of the company since the year end of the accounting period. The level of turnover since the year end remains consistent that there are sufficient cashflows to meet the on-going liabilities and the company anticipates that it will remain profitable in the following years. The directors are satisfied that there are no material uncertainties that may cast doubt about the ability of the company to continue as a going concern.
1.3
Turnover
Turnover comprises the fair value of the consideration received or receivable for the 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.
1.4
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:
Fixtures and fittings
15% Straight Line
Computers
33% Straight Line
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.
HALLMASON DESIGN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Borrowing costs
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.
1.6
Cash and cash equivalents
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.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current 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
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.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
HALLMASON DESIGN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
10
12
3
Operating loss
2024
2023
Operating loss for the year is stated after charging:
£
£
Depreciation of owned tangible fixed assets
11,773
16,051
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 October 2023
37,422
192,120
229,542
Additions
432
4,135
4,567
At 30 September 2024
37,854
196,255
234,109
Depreciation and impairment
At 1 October 2023
34,415
177,248
211,663
Depreciation charged in the year
1,074
10,699
11,773
At 30 September 2024
35,489
187,947
223,436
Carrying amount
At 30 September 2024
2,365
8,308
10,673
At 30 September 2023
3,007
14,872
17,879
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
173,048
172,618
Amounts owed by group undertakings
154,741
225,001
Other debtors
12,011
12,324
339,800
409,943
HALLMASON DESIGN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
153,895
109,849
Trade creditors
10,452
10,426
Taxation and social security
59,096
72,382
Other creditors
56,457
64,159
279,900
256,816
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
97,167
160,392
Other creditors
151,221
190,471
248,388
350,863
8
Loans and overdrafts
2024
2023
£
£
Bank loans
235,893
270,241
Bank overdrafts
15,169
Other loans
188,470
242,442
439,532
512,683
Payable within one year
191,144
161,820
Payable after one year
248,388
350,863
Included within other creditors due within one year is a secured loan amounting to £37,249 (2023 £51,971). The loan is secured by a fixed and floating charge in favour of Nucleus Cash Flow FINANCE2 Limited.
Included within other creditors due after one year is a secured loan amounting to £151,221 (2023 £190,471). The loan is secured by a fixed and floating charge in favour of Nucleus Cash Flow FINANCE2 Limited.
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
600
600
600
600
HALLMASON DESIGN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
10
Financial commitments, guarantees and contingent liabilities
Pension Commitments
The company operates a defined contribution pension scheme, for the benefit of the directors and employees of the company. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions included within other creditors were £1,696 (2023: £1,906).
11
Related party transactions
Summary of transactions with parent
Hallmason Holdings Limited is the parent company,
During the year Hallmason Holdings Limited charged the company management fees of £249,250 (2023: £249,450). At the balance sheet date the amount owed from Hallmason Holdings Limited was £154,741 (2023: £225,001). The balance is interest free and repayable on demand.
12
Parent and ultimate parent undertaking
The company's immediate parent is Hallmason Holdings Limited, incorporated in England.