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REGISTERED NUMBER: 14178616 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30 September 2024

for

Hallas Holdings Limited

Hallas Holdings Limited (Registered number: 14178616)






Contents of the Consolidated Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


Hallas Holdings Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: P Nicholson
Mrs G Nicholson





REGISTERED OFFICE: Gordale Nurseries
Chester High Road
Burton
South Wirral
CH64 8FT





REGISTERED NUMBER: 14178616 (England and Wales)





AUDITORS: Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

Hallas Holdings Limited (Registered number: 14178616)

Group Strategic Report
for the Year Ended 30 September 2024

The directors present their strategic report of the company and the group for the year ended 30 September 2024.

The main trading company is Gordale Nurseries Limited. Reproduced below is the Strategic Report from that company.

REVIEW OF BUSINESS
The company has had a successful year in line with expectations. Turnover for the year has increased by £758,133 (4.06%) to £19,439,372 (2023 - £18,681,239).

Gross profit margins increased to 24.8% (2023 - 24.6%). This has kept the company in a position to remain competitive and give good value to its customers along with achieving the desired level of income to meet its staff and overhead costs.

The company has made a profit before tax of £2,372,278 (2023 - £2,376,437). This is in line with targets set by the director.

Future developments
Given that the company has substantial reserves the director is confident that the business is in a strong position to maintain its profitability in the forthcoming year through continued investment in the site.

Matters of strategic importance
The core business strategy is to develop the attractiveness of the site by investing in the infrastructure to increase footfall.

Key performance indicators
2024 2023

Gross profit % - Nursery 51.25 45.92
Gross profit % - Garage 6.85 6.97
Net profit % 9.12 9.80
Stock ratio % 9.88 8.31


The director believes they have in place a business plan which will maximise the company's' profits going forward and expect the success of the company to continue into future years.

PRINCIPAL RISKS AND UNCERTAINTIES
The major risk to the company is the impact of inflation and rising cost of goods which affect the demand and in turn impact the profitability of the company's operations. The industry has experienced an increase in cost of goods in line with inflation although through the actions of senior management, the company considers that it is in a strong position to see the situation through. The strong performance of the company therefore has not been impacted.

ON BEHALF OF THE BOARD:





P Nicholson - Director


7 May 2025

Hallas Holdings Limited (Registered number: 14178616)

Report of the Directors
for the Year Ended 30 September 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 September 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of garden centre sales and petrol sales.

DIVIDENDS
No interim dividends were paid during the year ended 30 September 2024.

The directors recommend final dividends per share as follows:

Ordinary 1 shares £29.07
Ordinary A 1 shares NIL

The total distribution of dividends for the year ended 30 September 2024 will be £ 174,430 .

FUTURE DEVELOPMENTS
The future developments required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 has been included in the separate Strategic Report in accordance with section 414C (11) of the Companies Act 2006.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

P Nicholson
Mrs G Nicholson

DONATIONS
During the year group donations totalling £35,142 (2023: £30,891) have been made to a number of charitable causes.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Hallas Holdings Limited (Registered number: 14178616)

Report of the Directors
for the Year Ended 30 September 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Haines Watts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P Nicholson - Director


7 May 2025

Report of the Independent Auditors to the Members of
Hallas Holdings Limited

Opinion
We have audited the financial statements of Hallas Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Hallas Holdings Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the company engagement team included:

- Identifying and assessing the design effectiveness of controls management has in place to
prevent and detect fraud;
- Understanding how those charged with governance considered and addressed the potential for
override of controls or other inappropriate influence over the financial reporting process;
- Reviewing financial statements disclosures and testing to supporting documentation to
assess compliance with applicable law and regulations;
- Challenging assumptions and judgements made by management in its significant accounting
estimates, in particular:
- Depreciation, Taxation, Accruals and Prepayments.
- Identifying and testing journal entries, in particular any journal entries with unusual characteristics
or posted by senior management.

Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Hallas Holdings Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Michael Forshaw FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

7 May 2025

Hallas Holdings Limited (Registered number: 14178616)

Consolidated Income Statement
for the Year Ended 30 September 2024

Period
17.6.22
Year Ended to
30.9.24 30.9.23
Notes £ £

TURNOVER 19,439,372 18,681,239

Cost of sales 14,609,415 14,079,390
GROSS PROFIT 4,829,957 4,601,849

Administrative expenses 2,992,196 2,674,185
1,837,761 1,927,664

Other operating income 232,514 267,060
OPERATING PROFIT 5 2,070,275 2,194,724

Interest receivable and similar income 507,475 181,666
PROFIT BEFORE TAXATION 2,577,750 2,376,390

Tax on profit 6 651,140 546,639
PROFIT FOR THE FINANCIAL YEAR 1,926,610 1,829,751
Profit attributable to:
Owners of the parent 1,926,610 1,829,751

Hallas Holdings Limited (Registered number: 14178616)

Consolidated Other Comprehensive Income
for the Year Ended 30 September 2024

Period
17.6.22
Year Ended to
30.9.24 30.9.23
Notes £ £

PROFIT FOR THE YEAR 1,926,610 1,829,751


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,926,610

1,829,751

Total comprehensive income attributable to:
Owners of the parent 1,926,610 1,829,751

Hallas Holdings Limited (Registered number: 14178616)

Consolidated Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £ £ £
FIXED ASSETS
Tangible assets 9 3,653,348 3,599,660
Investments 10 - -
Investment property 11 3,479,047 3,479,047
7,132,395 7,078,707

CURRENT ASSETS
Nursery Stock 12 1,478,700 1,552,432
Debtors 13 140,925 154,252
Cash at bank and in hand 15,222,718 13,277,689
16,842,343 14,984,373
CREDITORS
Amounts falling due within one year 14 1,929,774 1,774,237
NET CURRENT ASSETS 14,912,569 13,210,136
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,044,964

20,288,843

PROVISIONS FOR LIABILITIES 16 58,904 54,963
NET ASSETS 21,986,060 20,233,880

CAPITAL AND RESERVES
Called up share capital 17 6,000 6,000
Retained earnings 18 21,980,060 20,227,880
SHAREHOLDERS' FUNDS 21,986,060 20,233,880

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2025 and were signed on its behalf by:





P Nicholson - Director


Hallas Holdings Limited (Registered number: 14178616)

Company Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £ £ £
FIXED ASSETS
Tangible assets 9 - -
Investments 10 17,986,623 17,986,623
Investment property 11 - -
17,986,623 17,986,623

CURRENT ASSETS
Debtors 13 4,565,473 -
Cash at bank 5,395,279 5,189,772
9,960,752 5,189,772
CREDITORS
Amounts falling due within one year 14 51,368 36,443
NET CURRENT ASSETS 9,909,384 5,153,329
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,896,007

23,139,952

CREDITORS
Amounts falling due after more than one
year

15

-

223,620
NET ASSETS 27,896,007 22,916,332

CAPITAL AND RESERVES
Called up share capital 17 6,000 6,000
Merger reserves 18 17,980,623 17,980,623
Retained earnings 18 9,909,384 4,929,709
SHAREHOLDERS' FUNDS 27,896,007 22,916,332

Company's profit for the financial year 5,154,105 4,999,955

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2025 and were signed on its behalf by:





P Nicholson - Director


Hallas Holdings Limited (Registered number: 14178616)

Consolidated Statement of Changes in Equity
for the Year Ended 30 September 2024

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 17 June 2022 6,000 18,468,375 18,474,375

Changes in equity
Dividends - (70,246 ) (70,246 )
Total comprehensive income - 1,829,751 1,829,751
Balance at 30 September 2023 6,000 20,227,880 20,233,880

Changes in equity
Dividends - (174,430 ) (174,430 )
Total comprehensive income - 1,926,610 1,926,610
Balance at 30 September 2024 6,000 21,980,060 21,986,060

Hallas Holdings Limited (Registered number: 14178616)

Company Statement of Changes in Equity
for the Year Ended 30 September 2024

Called up
share Retained Merger Total
capital earnings reserves equity
£ £ £ £
Balance at 17 June 2022 6,000 - 17,980,623 17,986,623

Changes in equity
Dividends - (70,246 ) - (70,246 )
Total comprehensive income - 4,999,955 - 4,999,955
Balance at 30 September 2023 6,000 4,929,709 17,980,623 22,916,332

Changes in equity
Dividends - (174,430 ) - (174,430 )
Total comprehensive income - 5,154,105 - 5,154,105
Balance at 30 September 2024 6,000 9,909,384 17,980,623 27,896,007

Hallas Holdings Limited (Registered number: 14178616)

Consolidated Cash Flow Statement
for the Year Ended 30 September 2024

Period
17.6.22
Year Ended to
30.9.24 30.9.23
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 2,530,476 2,201,517
Tax paid (688,268 ) (375,001 )
Net cash from operating activities 1,842,208 1,826,516

Cash flows from investing activities
Purchase of tangible fixed assets (206,782 ) (325,957 )
Purchase of investment property - (8,320 )
Sale of tangible fixed assets 13,001 -
Interest received 507,475 181,666
Net cash from investing activities 313,694 (152,611 )

Cash flows from financing activities
Amount introduced by directors 174,430 -
Amount withdrawn by directors (210,873 ) (54,425 )
Equity dividends paid (174,430 ) (70,246 )
Net cash from financing activities (210,873 ) (124,671 )

Increase in cash and cash equivalents 1,945,029 1,549,234
Cash and cash equivalents at beginning of
year

2

13,277,689

11,728,455

Cash and cash equivalents at end of year 2 15,222,718 13,277,689

Hallas Holdings Limited (Registered number: 14178616)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 September 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

Period
17.6.22
Year Ended to
30.9.24 30.9.23
£ £
Profit before taxation 2,577,750 2,376,390
Depreciation charges 146,826 170,769
(Profit)/loss on disposal of fixed assets (6,733 ) 12,504
Finance income (507,475 ) (181,666 )
2,210,368 2,377,997
Decrease in nursery stock 73,732 301,861
Decrease in trade and other debtors 13,327 26,451
Increase/(decrease) in trade and other creditors 233,049 (504,792 )
Cash generated from operations 2,530,476 2,201,517

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2024
30.9.24 1.10.23
£ £
Cash and cash equivalents 15,222,718 13,277,689
Period ended 30 September 2023
30.9.23 17.6.22
£ £
Cash and cash equivalents 13,277,689 11,728,455


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.23 Cash flow At 30.9.24
£ £ £
Net cash
Cash at bank and in hand 13,277,689 1,945,029 15,222,718
13,277,689 1,945,029 15,222,718
Total 13,277,689 1,945,029 15,222,718

Hallas Holdings Limited (Registered number: 14178616)

Notes to the Consolidated Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Hallas Holdings 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
These financial statements incorporate those of Hallas Holdings Limited and its subsidiaries (I.e. entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits) up to 30th September 2024.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated unless the transactions provide evidence of an impairment of the asset transferred.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% reducing balance

Land included within freehold property is not depreciated.

Investment property
Investment property is appropriately valued at cost which is deemed the fair value of the asset per director P A Nicholson. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Nursery stock are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


Hallas Holdings Limited (Registered number: 14178616)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Hallas Holdings Limited (Registered number: 14178616)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Other income
Other Income consists of interest income.

Investment in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and deposits held at call with banks.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial instruments
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially recognised at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price.

Derecognition of financial liabilities
Financial liabilities are derecognised when, the company's contractual obligations are discharged, cancelled, or they expire.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

There are no key assumptions concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Hallas Holdings Limited (Registered number: 14178616)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

4. EMPLOYEES AND DIRECTORS

Their aggregate remuneration comprised:
Group Group Company Company
Period to Period to
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   

Wages and salaries 1,658,409 1,519,894 - -
Social security costs 130,015 109,241 - -
Pension costs 33,271 27,482 - -
1,821,695 1,656,617 - -


The average number of employees during the year was 88 (2023 - 85).

Period
17.6.22
Year Ended to
30.9.24 30.9.23
£ £
Directors' remuneration 3,048 7,956

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period
17.6.22
Year Ended to
30.9.24 30.9.23
£ £
Hire of plant and machinery 2,802 9,079
Depreciation - owned assets 146,826 170,771
(Profit)/loss on disposal of fixed assets (6,733 ) 12,504
Auditors' remuneration 12,063 11,190

Hallas Holdings Limited (Registered number: 14178616)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
17.6.22
Year Ended to
30.9.24 30.9.23
£ £
Current tax:
UK corporation tax 647,199 541,178

Deferred tax 3,941 5,461
Tax on profit 651,140 546,639

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
17.6.22
Year Ended to
30.9.24 30.9.23
£ £
Profit before tax 2,577,750 2,376,390
Profit multiplied by the standard rate of corporation tax in the UK of 25
% (2023 - 19 %)

644,438

451,514

Effects of:
Expenses not deductible for tax purposes (1,683 ) 2,375
Depreciation in excess of capital allowances 4,444 13,308
Adjustments to tax charge in respect of previous periods - 73,981
Deferred Taxation 3,941 5,461
Total tax charge 651,140 546,639

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
Period
17.6.22
Year Ended to
30.9.24 30.9.23
£ £
Ordinary shares of 1 each
Final 174,430 70,246

Hallas Holdings Limited (Registered number: 14178616)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

9. TANGIBLE FIXED ASSETS



Freehold

Plant and
Fixtures
&

Motor

Computer

Property Machinery fittings Vehicles Equipment Totals
£    £    £    £    £    £   
COST
At 1 October 2023 3,915,307 1,544,262 722,065 104,248 194,250 6,480,132
Additions 95,564 16,618 50,760 35,229 8,611 206,782
Disposals - (223 ) (825 ) (50,739 ) (2,661 ) (54,448 )
At 30 September 2024 4,010,871 1,560,657 772,000 88,738 200,200 6,632,466
DEPRECIATION
At 1 October 2023 620,272 1,374,443 680,855 59,036 145,864 2,880,472
Charge for the year 40,339 38,911 27,652 18,841 21,083 146,826
Eliminated on Disposal - (170 ) (751 ) (45,659 ) (1,600 ) (48,180 )
At 30 September 2024 660,611 1,413,184 707,756 32,218 165,349 2,979,118
NET BOOK VALUE
At 30 September 2024 3,350,260 147,473 64,244 56,520 34,851 3,653,348
At 30 September 2023 3,295,035 169,819 41,210 45,212 48,384 3,599,660

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 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.

Hallas Holdings Limited (Registered number: 14178616)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

10. FIXED ASSET INVESTMENTS

Group Group Company Company
30.9.24 30.09.23 31.9.24 30.9.23
£    £    £    £   

Investments in subsidiaries - - 17,986,623 17,986,623

Details of the company's subsidiaries at 30th September 2024 are as follows:

Name of undertaking Registered office Nature of
business
Class of shares
held
% Held
Direct/Indirect

Gordale Nurseries 1. Retail Sales Ord / A Ord 100.00

1. Gordale Nurseries, Chester High Road, Burton, South Wirral, CH64 8TF

The aggregate capital and reserves and the profit for the year of the subsidiaries noted above was as follows:


Name of undertaking

Profit/(Loss

)
Capital and
Reserves
£    £   

Gordale Nurseries Limited 1,772,506 12,076,678

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

11. INVESTMENT PROPERTY

Group
Total
£
FAIR VALUE
At 1 October 2023
and 30 September 2024 3,479,047
NET BOOK VALUE
At 30 September 2024 3,479,047
At 30 September 2023 3,479,047

The director believes the value of investment property is not materially different to the orginal purchase cost of the property.

Hallas Holdings Limited (Registered number: 14178616)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

12. NURSERY STOCK

Group
30.9.24 30.9.23
£ £
Nursery stock 1,455,017 1,524,818
Garage stock 23,683 27,614
1,478,700 1,552,432

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£ £ £ £
Trade debtors 1,853 2,868 - -
Amounts owed by group undertakings - - 4,565,473 -
Prepayments and accrued income 139,072 151,384 - -
140,925 154,252 4,565,473 -

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£ £ £ £
Trade creditors 1,126,123 895,549 - -
Tax 346,535 387,604 51,368 -
Social security and other taxes 151,429 146,138 - -
Other creditors 53,229 70,027 - -
Directors' current accounts - 36,443 - 36,443
Accrued expenses 252,458 238,476 - -
1,929,774 1,774,237 51,368 36,443

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Company
30.9.24 30.9.23
£ £
Amounts owed to group undertakings - 223,620

16. PROVISIONS FOR LIABILITIES

Group
30.9.24 30.9.23
£ £
Deferred tax 58,904 54,963

Hallas Holdings Limited (Registered number: 14178616)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

16. PROVISIONS FOR LIABILITIES - continued

Group
Deferred tax
£
Balance at 1 October 2023 54,963
Provided during year 3,941
Balance at 30 September 2024 58,904

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £ £
5,999 Ordinary 1 5,999 5,999
1 Ordinary A 1 1 1
6,000 6,000

18. RESERVES

Group
Retained
earnings
£

At 1 October 2023 20,227,880
Profit for the year 1,926,610
Dividends (174,430 )
At 30 September 2024 21,980,060

Company
Retained Merger
earnings reserves Totals
£ £ £

At 1 October 2023 4,929,709 17,980,623 22,910,332
Profit for the year 5,154,105 5,154,105
Dividends (174,430 ) (174,430 )
At 30 September 2024 9,909,384 17,980,623 27,890,007


19. PENSION COMMITMENTS

The company operates a defined contribution scheme on behalf of its directors and employees. The scheme is held in a separately administered fund from the company. Contributions in the year amounted to £33,271 (2023 - £27,482). There were contributions of £5,802 were outstanding at the year end (2023 - £6,673).

Hallas Holdings Limited (Registered number: 14178616)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

20. RELATED PARTY DISCLOSURES

Other operating income includes rent of £6,000 (2023- £12,000) received from P A Nicholson, the company's director.

21. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P A Nicholson by way of his ownership of the majority of the share capital.