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REGISTERED NUMBER: 00053657 (England and Wales)








Halas Industrial Company Limited

Unaudited Financial Statements

for the Year Ended

31 March 2024






Halas Industrial Company Limited (Registered number: 00053657)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Halas Industrial Company Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr R P Allen
Mr M Allen





REGISTERED OFFICE: Forge Lane
Halesowen
West Midlands
B62 8EB





REGISTERED NUMBER: 00053657 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Halas Industrial Company Limited (Registered number: 00053657)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,422 43,759
Investment property 5 541,258 541,258
567,680 585,017

CURRENT ASSETS
Debtors 6 701,866 562,051
Cash at bank and in hand 35,261 27,872
737,127 589,923
CREDITORS
Amounts falling due within one year 7 639,132 532,982
NET CURRENT ASSETS 97,995 56,941
TOTAL ASSETS LESS CURRENT
LIABILITIES

665,675

641,958

PROVISIONS FOR LIABILITIES 23,500 23,500
NET ASSETS 642,175 618,458

CAPITAL AND RESERVES
Called up share capital 61,092 61,092
Capital redemption reserve 3,655 3,655
Fair value reserve 378,473 378,473
Retained earnings 198,955 175,238
SHAREHOLDERS' FUNDS 642,175 618,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Halas Industrial Company Limited (Registered number: 00053657)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





Mr M Allen - Director


Halas Industrial Company Limited (Registered number: 00053657)

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

1. STATUTORY INFORMATION

Halas Industrial Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover reprsents rental income, and expenses recharged to tennants, receivable for the year stated net of value added tax.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 7 years

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

Halas Industrial Company Limited (Registered number: 00053657)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023 237,858 72,522 310,380
Additions - 6,477 6,477
At 31 March 2024 237,858 78,999 316,857
DEPRECIATION
At 1 April 2023 197,158 69,463 266,621
Charge for year 20,350 3,464 23,814
At 31 March 2024 217,508 72,927 290,435
NET BOOK VALUE
At 31 March 2024 20,350 6,072 26,422
At 31 March 2023 40,700 3,059 43,759

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 541,258
NET BOOK VALUE
At 31 March 2024 541,258
At 31 March 2023 541,258

On the 20th January 1989 the company had it's investment property revalued. The directors have used this valuation in the year end accounts on the basis that they believe that the market value of the property at the year end date will not be significantly different to the valuation.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 29,168 16,010
Amounts owed by group undertakings - 1,743
Amounts owed by participating interests 485,819 362,074
Other debtors 186,879 182,224
701,866 562,051

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 147,148 120,713
Amounts owed to group undertakings 8,940 -
Amounts owed to participating interests 281,992 150,924
Taxation and social security 31,852 42,846
Other creditors 169,200 218,499
639,132 532,982

Halas Industrial Company Limited (Registered number: 00053657)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr E J Allen (Deceased)
Balance outstanding at start of year - -
Amounts advanced 13,758 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,758 -

9. RELATED PARTY DISCLOSURES

The amount owed to the director at the end of the year was £nil (2023: £11,242).

10. CAPITAL REDEMPTION RESERVE

Capital redemption reserve fund represents the redemption of 4.2% £1 cumulative preference shares redeemed at par in earlier years.