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COMPANY REGISTRATION NUMBER: 11144618
Hallco Industries Limited
Filleted Unaudited Financial Statements
31 December 2024
Hallco Industries Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
7,455
1,865
Current assets
Stocks
2,095
688
Debtors
6
39,584
15,602
Investments
7
1,007
Cash at bank and in hand
29,701
62,281
--------
--------
72,387
78,571
Creditors: amounts falling due within one year
8
14,385
15,257
--------
--------
Net current assets
58,002
63,314
--------
--------
Total assets less current liabilities
65,457
65,179
--------
--------
Net assets
65,457
65,179
--------
--------
Capital and reserves
Called up share capital
100
100
Investment by owner
860,000
860,000
Profit and loss account
( 794,643)
( 794,921)
---------
---------
Shareholders funds
65,457
65,179
---------
---------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Hallco Industries Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 28 May 2025 , and are signed on behalf of the board by:
Mr A Leatherland
Director
Company registration number: 11144618
Hallco Industries Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ, England.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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 and machinery
-
20% straight line
Equipment
-
15% straight line
Computer & office equipment
-
15% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery
Equipment
Computer & office equipment
Total
£
£
£
£
Cost
At 1 January 2024
7,148
5,132
12,280
Additions
7,062
341
7,403
-------
-------
-------
--------
At 31 December 2024
7,148
7,062
5,473
19,683
-------
-------
-------
--------
Depreciation
At 1 January 2024
6,501
3,914
10,415
Charge for the year
647
883
283
1,813
-------
-------
-------
--------
At 31 December 2024
7,148
883
4,197
12,228
-------
-------
-------
--------
Carrying amount
At 31 December 2024
6,179
1,276
7,455
-------
-------
-------
--------
At 31 December 2023
647
1,218
1,865
-------
-------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
35,418
13,290
Other debtors
4,166
2,312
--------
--------
39,584
15,602
--------
--------
7. Investments
2024
2023
£
£
Other investments
1,007
-------
----
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,724
5,647
Social security and other taxes
2,721
3,179
Other creditors
5,940
6,431
--------
--------
14,385
15,257
--------
--------