Company registration number 13803467 (England and Wales)
Halsa Holdings Limited
Unaudited financial statements
For the year ended 31 December 2024
Halsa Holdings Limited
Contents
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
Halsa Holdings Limited
Statement of financial position
As at 31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
5
5
Tangible assets
4
127,645
169,369
127,650
169,374
Current assets
Debtors
5
677,669
789,693
Cash at bank and in hand
47,863
28,533
725,532
818,226
Creditors: amounts falling due within one year
6
(343,565)
(433,646)
Net current assets
381,967
384,580
Total assets less current liabilities
509,617
553,954
Creditors: amounts falling due after more than one year
7
(1,068,215)
(1,096,030)
Net liabilities
(558,598)
(542,076)
Capital and reserves
Called up share capital
40
40
Profit and loss reserves
(558,638)
(542,116)
Total equity
(558,598)
(542,076)
Halsa Holdings Limited
Statement of financial position (continued)
As at 31 December 2024
- 2 -
For the financial year ended 31 December 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 income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 8 May 2025 and are signed on its behalf by:
Dr G F Hamilton
Director
Company registration number 13803467 (England and Wales)
Halsa Holdings Limited
Statement of changes in equity
For the year ended 31 December 2024
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
40
(457,540)
(457,500)
Year ended 31 December 2023:
Loss and total comprehensive income
-
(84,576)
(84,576)
Balance at 31 December 2023
40
(542,116)
(542,076)
Year ended 31 December 2024:
Loss and total comprehensive income
-
(16,522)
(16,522)
Balance at 31 December 2024
40
(558,638)
(558,598)
Halsa Holdings Limited
Notes to the financial statements
For the year ended 31 December 2024
- 4 -
1
Accounting policies
Company information
Halsa Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Part Suite C, Lily Hill House, Lily Hill Road, Bracknell, England, RG12 2SJ.
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.
1.2
Going concern
The company meets its day to day working capital requirements through support from the directors. Thetrue directors will continue to support the company during the twelve months following the approval of these financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Halsa Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
- 5 -
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.5
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:
Leasehold improvements
10% straight line
Plant and equipment
10% straight line
Fixtures and fittings
20% straight line
Motor vehicles
25% reducing balance
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.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
1.7
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.
Halsa Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
- 6 -
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
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
49
51
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
5
Amortisation and impairment
At 1 January 2024 and 31 December 2024
Carrying amount
At 31 December 2024
5
At 31 December 2023
5
Halsa Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
- 7 -
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
73,712
113,108
17,736
5,000
209,556
Additions
4,857
2,342
356
7,555
Disposals
(32,175)
(3,130)
(5,000)
(40,305)
At 31 December 2024
78,569
83,275
14,962
176,806
Depreciation and impairment
At 1 January 2024
11,575
21,630
4,794
2,188
40,187
Depreciation charged in the year
7,861
8,285
2,970
19,116
Eliminated in respect of disposals
(7,239)
(715)
(2,188)
(10,142)
At 31 December 2024
19,436
22,676
7,049
49,161
Carrying amount
At 31 December 2024
59,133
60,599
7,913
127,645
At 31 December 2023
62,137
91,478
12,942
2,812
169,369
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
51,397
67,768
Amounts owed by group undertakings
499,000
493,500
Other debtors
127,272
228,425
677,669
789,693
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
56,921
108,490
Taxation and social security
34,703
38,668
Other creditors
251,941
286,488
343,565
433,646
Halsa Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
- 8 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,068,215
1,096,030
8
Parent company
The parent company of Halsa Holdings Limited is Halsa Services Ltd, and its registered office is Part Suite C Lily Hill House, Lily Hill Road, Bracknell, RG12 2SJ.