Company registration number 00599850 (England and Wales)
A.D.Hall Limited
financial statements
For the year ended 30 September 2024
A.D.Hall Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 8
A.D.Hall Limited
Statement of financial position
As at 30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
33,874
42,056
Current assets
Stocks
90,639
89,108
Debtors
6
894,971
951,340
Cash at bank and in hand
159,697
159,108
1,145,307
1,199,556
Creditors: amounts falling due within one year
7
(123,617)
(121,184)
Net current assets
1,021,690
1,078,372
Total assets less current liabilities
1,055,564
1,120,428
Provisions for liabilities
(3,100)
(3,200)
Net assets
1,052,464
1,117,228
Capital and reserves
Called up share capital
2,000
2,000
Profit and loss reserves
1,050,464
1,115,228
Total equity
1,052,464
1,117,228
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 ......................... and are signed on its behalf by:
2025-06-25
..............................................
Mr S Lightfoot
Director
Company registration number 00599850 (England and Wales)
A.D.Hall Limited
Notes to the financial statements
For the year ended 30 September 2024
- 2 -
1
Accounting policies
Company information
A.D.Hall Limited is a private company limited by shares incorporated in England and Wales. The registered office is Chemical Lane, Longbridge Hayes Industrial Estate, Stoke on Trent, Staffordshire, ST6 4PB.
1.1
Reporting period
The comparative financial statements presented are for a period shorter than one year, to align the year end with other group companies. The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.2
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.
1.3
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods 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.
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.
1.5
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 fully amortised.
1.6
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.
A.D.Hall Limited
Notes to the financial statements (continued)
For the year ended 30 September 2024
1
Accounting policies
(Continued)
- 3 -
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:
Fixtures, plant and equipment
20% on reducing balance
Computer equipment
33.3% on cost
Motor vehicles
25% on 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.
1.7
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).
1.8
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.9
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and at bank.
1.10
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position 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 assets
Basic financial assets, which include debtors, loans to fellow group companies and cash and bank balances, are initially measured 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of 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 deducting all of its liabilities.
A.D.Hall Limited
Notes to the financial statements (continued)
For the year ended 30 September 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.11
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.12
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.13
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
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.
A.D.Hall Limited
Notes to the financial statements (continued)
For the year ended 30 September 2024
1
Accounting policies
(Continued)
- 5 -
1.14
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.15
Leases
As lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
3
4
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
1,488
Amortisation and impairment
At 1 October 2023 and 30 September 2024
1,488
Carrying amount
At 30 September 2024
At 30 September 2023
A.D.Hall Limited
Notes to the financial statements (continued)
For the year ended 30 September 2024
- 6 -
5
Tangible fixed assets
Fixtures, plant and equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2023
228,848
14,636
49,723
293,207
Additions
1,430
1,430
Disposals
(19,406)
(19,406)
At 30 September 2024
230,278
14,636
30,317
275,231
Depreciation and impairment
At 1 October 2023
197,116
14,636
39,399
251,151
Depreciation charged in the year
6,686
2,466
9,152
Eliminated in respect of disposals
(18,946)
(18,946)
At 30 September 2024
203,802
14,636
22,919
241,357
Carrying amount
At 30 September 2024
26,476
7,398
33,874
At 30 September 2023
31,732
10,324
42,056
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
24,636
52,728
Amounts owed by group undertakings
862,530
878,409
Other debtors
7,805
20,203
894,971
951,340
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
71,574
63,682
Taxation and social security
25,223
29,902
Other creditors
26,820
27,600
123,617
121,184
A.D.Hall Limited
Notes to the financial statements (continued)
For the year ended 30 September 2024
- 7 -
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is qualified and includes the following:
In our opinion, except for the possible effects of the matters described in the Basis for qualified opinion section of our report, the financial statements:
give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its 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 qualified opinion
Our audit opinion on the financial statements for the period ended 30 September 2023 was modified. Our opinion on the financial statements for the period ended 30 September 2024 is also modified because of the possible effect of this matter on the comparability of the current period with the prior period.
The company's comparative profit and loss account for the period ended 30 September 2023 included net income of £45,361 within turnover, for which we were unable to obtain sufficient appropriate audit evidence, due to the directors not retaining adequate accounting records for the period. Consequently we were unable to determine the potential value of any expenditure offsetting this income or whether any reclassification of income and expenditure in the comparative profit and loss account was necessary.
In addition, the directors had not retained adequate accounting records to enable us to obtain sufficient appropriate audit evidence for the £70,114 value of stock held as at 1 November 2022, the opening balance sheet date for the comparative period. As we were not appointed as auditor of the company until after 1 November 2022, and thus did not observe the counting of physical stock at that date, we were also unable to satisfy ourselves regarding the quantities of stock held as at 1 November 2022. Consequently we were unable to determine whether any adjustment to the carrying value of stock at the opening balance sheet date for the comparative period, or related adjustment to cost of sales in the comparative profit and loss account for period ended 30 September 2023, was necessary.
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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 qualified opinion.
Senior Statutory Auditor:
Nicola Johnson
Statutory Auditor:
DJH Audit Limited
Date of audit report:
Date: .............................................
2025-06-25
A.D.Hall Limited
Notes to the financial statements (continued)
For the year ended 30 September 2024
- 8 -
9
Financial commitments, guarantees and contingent liabilities
The company has a fixed and floating charge over all property or undertaking of the company with a negative pledge, as security for the borrowings of fellow group undertakings. At 30 September 2024 these borrowings amounted to £362,170 (2023 - £424,814). As at the date of approval of these financial statements the directors do not anticipate that the charges will be called upon.
10
Operating lease commitments
As lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
Total commitments
4,133
4,453
11
Parent company
The ultimate parent company of A.D.Hall Limited is MRL Group Limited, which owns 95% of the issued share capital. Consolidated financial statements as at 30 September 2024 may be obtained from it's registered office of Unit B1 Cinderhill Trading Estate Weston Coyney Road, Longton, Stoke On Trent, Staffordshire, United Kingdom, ST3 5LB.
The ultimate controlling party is Mr S Lightfoot, as a result of his 100% shareholding of the parent company.
12
Related Party
During the year, the company paid remuneration to a family member of key personnel amounting to £3,564 (2023 - £Nil). There were no balances outstanding at the year end (2023 - £Nil).
During the year, the company paid dividends to the partner of key personnel amounting to £89,744 (2023 - £Nil). There were no balances outstanding at the year end (2023 - £Nil).