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COMPANY REGISTRATION NUMBER: 01218173
HALLMARK TAPES LIMITED
Unaudited Financial Statements
30 June 2024
HALLMARK TAPES LIMITED
Financial Statements
Year ended 30th June 2024
Contents
Page
Officers and professional advisers
1
Directors' report
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
6
The following pages do not form part of the financial statements
Report to the board of directors on the preparation of the unaudited statutory financial statements
12
HALLMARK TAPES LIMITED
Officers and Professional Advisers
The board of directors
Mr C H M Browne
Mrs P M Browne
Mr W E C Browne
Company secretary
Mrs P M Browne
Registered office
5 Ashwell Street
Netherfield
NOTTINGHAM
NG4 2FQ
Accountants
Pells Chartered Accountants
17 Newstead Grove
NOTTINGHAM
NG1 4GZ
HALLMARK TAPES LIMITED
Directors' Report
Year ended 30th June 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2024 .
Directors
The directors who served the company during the year were as follows:
Mr C H M Browne
Mrs P M Browne
Mr W E C Browne
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 18 March 2025 and signed on behalf of the board by:
Mr C H M Browne
Director
HALLMARK TAPES LIMITED
Statement of Income and Retained Earnings
Year ended 30th June 2024
2024
2023
Note
£
£
Turnover
4,222,154
4,000,684
Cost of sales
3,241,706
3,170,850
------------
------------
Gross profit
980,448
829,834
Administrative expenses
728,236
645,407
---------
---------
Operating profit
252,212
184,427
Other interest receivable and similar income
17,953
952
---------
---------
Profit before taxation
5
270,165
185,379
Tax on profit
69,555
37,894
---------
---------
Profit for the financial year and total comprehensive income
200,610
147,485
---------
---------
Retained earnings at the start of the year
1,929,951
1,782,466
------------
------------
Retained earnings at the end of the year
2,130,561
1,929,951
------------
------------
All the activities of the company are from continuing operations.
HALLMARK TAPES LIMITED
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
31,443
38,445
Investments
7
49,276
49,276
--------
--------
80,719
87,721
Current assets
Stocks
481,649
589,941
Debtors
8
867,071
970,453
Cash at bank and in hand
1,085,539
851,256
------------
------------
2,434,259
2,411,650
Creditors: amounts falling due within one year
9
376,739
562,071
------------
------------
Net current assets
2,057,520
1,849,579
------------
------------
Total assets less current liabilities
2,138,239
1,937,300
Provisions
Taxation including deferred tax
6,678
6,349
------------
------------
Net assets
2,131,561
1,930,951
------------
------------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
2,130,561
1,929,951
------------
------------
Shareholders funds
2,131,561
1,930,951
------------
------------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30th June 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HALLMARK TAPES LIMITED
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 18 March 2025 , and are signed on behalf of the board by:
Mr C H M Browne
Director
Company registration number: 01218173
HALLMARK TAPES LIMITED
Notes to the Financial Statements
Year ended 30th June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Ashwell Street, Netherfield, NOTTINGHAM, NG4 2FQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
15% reducing balance
Fixtures and Fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Computer equipment
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2023: 10 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
7,002
8,475
-------
-------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1st July 2023 and 30th June 2024
6,510
53,337
29,968
85,916
175,731
-------
--------
--------
--------
---------
Depreciation
At 1st July 2023
4,989
51,465
19,180
61,652
137,286
Charge for the year
229
468
2,665
3,640
7,002
-------
--------
--------
--------
---------
At 30th June 2024
5,218
51,933
21,845
65,292
144,288
-------
--------
--------
--------
---------
Carrying amount
At 30th June 2024
1,292
1,404
8,123
20,624
31,443
-------
--------
--------
--------
---------
At 30th June 2023
1,521
1,872
10,788
24,264
38,445
-------
--------
--------
--------
---------
7. Investments
Shares in group undertakings
£
Cost
At 1st July 2023 and 30th June 2024
49,276
--------
Impairment
At 1st July 2023 and 30th June 2024
--------
Carrying amount
At 30th June 2024
49,276
--------
At 30th June 2023
49,276
--------
The company owns 100% of the issued share capital of the companies listed below:-
Hallmark Tape Printers Limited
Solo Tape Limited
The amount of capital and reserves are:-
Hallmark Tape Printers Limited (dormant)
856
856
Solo Tape Limited
9,936
9,936
Profit and (loss) for the year
Solo Tape Limited
(44)
(52)
8. Debtors
2024
2023
£
£
Trade debtors
838,377
933,971
Other debtors
28,694
36,482
---------
---------
867,071
970,453
---------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
186,304
421,299
Social security and other taxes
49,193
31,352
Other creditors
141,242
109,420
---------
---------
376,739
562,071
---------
---------
10. Related party transactions
During the year the Directors, Mr C H M Browne and Mrs P M Browne used loan accounts with the company to record amounts due to them and amounts drawn by them. The balance at the end of the year was £2,850. (2023 :£3,114. )due by the company. This balance is included in 'Other Creditors'.
HALLMARK TAPES LIMITED
Management Information
Year ended 30th June 2024
The following pages do not form part of the financial statements.
HALLMARK TAPES LIMITED
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Hallmark Tapes Limited
Year ended 30th June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hallmark Tapes Limited for the year ended 30th June 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
Pells Chartered Accountants
17 Newstead Grove NOTTINGHAM NG1 4GZ
18 March 2025