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Registration number: 13159022

Halfway Down Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Halfway Down Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Halfway Down Limited

Company Information

Director

Mr Charles Aylwyn Taylor

Registered office

1 Wildfell Walk
Weedon Road
Northampton
NN5 4FZ

Accountants

Alexandr Walker Accountants Limited
3rd Floor
45 Albermarle Street
Mayfair
London
W1S 4JL

 

Halfway Down Limited

(Registration number: 13159022)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

985

1,027

Current assets

 

Debtors

5

17,615

348

Cash at bank and in hand

 

145,263

278,554

 

162,878

278,902

Creditors: Amounts falling due within one year

6

(671)

(52,235)

Net current assets

 

162,207

226,667

Net assets

 

163,192

227,694

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

163,092

227,594

Shareholders' funds

 

163,192

227,694

For the financial year ending 31 January 2025 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 May 2025
 

.........................................
Mr Charles Aylwyn Taylor
Director

 

Halfway Down Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The address of its registered office is:
1 Wildfell Walk
Weedon Road
Northampton
NN5 4FZ
United Kingdom

These financial statements were authorised for issue by the director on 6 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Halfway Down Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33.33% Straight line basis

Palnt and machinery

20% Reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Halfway Down Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

Halfway Down Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2024

4,488

1,193

5,681

Additions

251

219

470

At 31 January 2025

4,739

1,412

6,151

Depreciation

At 1 February 2024

4,072

582

4,654

Charge for the year

346

166

512

At 31 January 2025

4,418

748

5,166

Carrying amount

At 31 January 2025

321

664

985

At 31 January 2024

416

611

1,027

5

Debtors

Current

2025
£

2024
£

Trade debtors

(1)

(1)

Other debtors

17,616

349

 

17,615

348

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

671

351

Taxation and social security

 

-

51,074

Other creditors

 

-

810

 

671

52,235

7

Share capital

Allotted, called up and fully paid shares

 

Halfway Down Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

2025

2024

No.

£

No.

£

Ordinary dividend of £1 each

100

100

100

100

       

8

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Other borrowings

671

351

9

Dividends

Interim dividends paid

2025
£

2024
£

Interim dividend of £20.00 (2024 - £603.94) per each Ordinary dividend

2,000

60,394

 

 

10

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2025
£

2024
£

Remuneration

9,972

9,956

Contributions paid to money purchase schemes

136,153

16,500

146,125

26,456