Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31falsefalse2024-01-01falseNo description of principal activity33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00554602 2024-01-01 2024-12-31 00554602 2023-01-01 2023-12-31 00554602 2024-12-31 00554602 2023-12-31 00554602 c:Director2 2024-01-01 2024-12-31 00554602 d:FurnitureFittings 2024-01-01 2024-12-31 00554602 d:FurnitureFittings 2024-12-31 00554602 d:FurnitureFittings 2023-12-31 00554602 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00554602 d:ComputerEquipment 2024-01-01 2024-12-31 00554602 d:ComputerEquipment 2024-12-31 00554602 d:ComputerEquipment 2023-12-31 00554602 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00554602 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 00554602 d:FreeholdInvestmentProperty 2024-12-31 00554602 d:FreeholdInvestmentProperty 2023-12-31 00554602 d:FreeholdInvestmentProperty 2 2024-01-01 2024-12-31 00554602 d:CurrentFinancialInstruments 2024-12-31 00554602 d:CurrentFinancialInstruments 2023-12-31 00554602 d:Non-currentFinancialInstruments 2024-12-31 00554602 d:Non-currentFinancialInstruments 2023-12-31 00554602 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 00554602 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00554602 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 00554602 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 00554602 d:ShareCapital 2024-12-31 00554602 d:ShareCapital 2023-12-31 00554602 d:RevaluationReserve 2024-12-31 00554602 d:RevaluationReserve 2023-12-31 00554602 d:RetainedEarningsAccumulatedLosses 2024-12-31 00554602 d:RetainedEarningsAccumulatedLosses 2023-12-31 00554602 c:FRS102 2024-01-01 2024-12-31 00554602 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 00554602 c:FullAccounts 2024-01-01 2024-12-31 00554602 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 00554602 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 00554602 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 00554602 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 00554602 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 00554602 d:RetirementBenefitObligationsDeferredTax 2024-12-31 00554602 d:RetirementBenefitObligationsDeferredTax 2023-12-31 00554602 f:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 00554602









F.G.HALLADEY & SONS,LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
F.G.HALLADEY & SONS,LIMITED
REGISTERED NUMBER: 00554602

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
519
806

Investment property
 6 
4,000,000
3,850,000

  
4,000,519
3,850,806

Current assets
  

Stocks
 7 
1,895
3,528

Debtors: amounts falling due within one year
 8 
22,872
22,630

Cash at bank and in hand
 9 
106,922
96,584

  
131,689
122,742

Creditors: amounts falling due within one year
 10 
(56,443)
(55,046)

Net current assets
  
 
 
75,246
 
 
67,696

Total assets less current liabilities
  
4,075,765
3,918,502

Creditors: amounts falling due after more than one year
 11 
(79,467)
(81,467)

Provisions for liabilities
  

Deferred tax
 12 
(830,128)
(792,699)

  
 
 
(830,128)
 
 
(792,699)

Net assets
  
3,166,170
3,044,336


Capital and reserves
  

Called up share capital 
  
2,500
2,500

Revaluation reserve
  
2,827,599
2,715,099

Profit and loss account
  
336,071
326,737

  
3,166,170
3,044,336


Page 1

 
F.G.HALLADEY & SONS,LIMITED
REGISTERED NUMBER: 00554602
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 June 2025.




D Halladey
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
F.G.HALLADEY & SONS,LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

F.G. Halladey & Sons, Limited is a private company, limited by shares and incorporated in England and Wales,United Kingdom, with a registration number 00554602. The address of the registered office is Old
Station Road, Loughton, Essex IG10 4PL. The principal activites of the company continued to be that of wholesale tobacconists and investment property.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
F.G.HALLADEY & SONS,LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
straight line
Computer equipment
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
F.G.HALLADEY & SONS,LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is
Page 5

 
F.G.HALLADEY & SONS,LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 6

 
F.G.HALLADEY & SONS,LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Dividends

2024
2023
£
£


Ordinary
22,950
6,000

22,950
6,000


5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
1,062
1,575
2,637



At 31 December 2024

1,062
1,575
2,637



Depreciation


At 1 January 2024
774
1,057
1,831


Charge for the year on owned assets
96
191
287



At 31 December 2024

870
1,248
2,118



Net book value



At 31 December 2024
192
327
519



At 31 December 2023
288
518
806

Page 7

 
F.G.HALLADEY & SONS,LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 January 2024
3,850,000


Surplus on revaluation
150,000



At 31 December 2024
4,000,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.





7.


Stocks

2024
2023
£
£

Finished goods and goods for resale
1,895
3,528

1,895
3,528



8.


Debtors

2024
2023
£
£


Trade debtors
21,647
21,930

Prepayments and accrued income
1,225
700

22,872
22,630



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
106,922
96,584

106,922
96,584


Page 8

 
F.G.HALLADEY & SONS,LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
13,847
13,036

Corporation tax
7,647
2,102

Other taxation and social security
4,643
6,760

Other creditors
59
3,487

Accruals and deferred income
30,247
29,661

56,443
55,046



11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
79,467
81,467

79,467
81,467



12.


Deferred taxation




2024


£






At beginning of year
(792,699)


Charged to profit or loss
(37,429)



At end of year
(830,128)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair Value adjustments
(942,533)
(905,033)

Tax losses carried forward
112,535
112,535

Accelerated capital allowances
(130)
(201)

(830,128)
(792,699)

Page 9

 
F.G.HALLADEY & SONS,LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the company in an independently administered fund. The pension cost charge
represents contributions payable by the company to the fund and amounted to £8,345 (2023 - £9,000).
As at 31 December 2024 and 2023 no pension contributions remain unpaid.


14.


Related party transactions

Remuneration paid to key management personnel totalled £50,996 (2023: £88,218). 
At the year end following amounts were due from/ (to) the related parties:


2024
2023
£
£

Key management personnel
(59)
(3,487)
(59)
(3,487)


15.


Controlling party

There is no ultimate controlling party.

 
Page 10