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Registered number: 08877709










HALO MOBILE LIMITED

Unaudited
Financial statements
Information for filing with the registrar
For the year ended 31 August 2024

 
HALO MOBILE LIMITED
 

Company Information


Directors
S Pearson 
A Perry (resigned 19 August 2024)




Registered number
08877709



Registered office
Retford Enterprise
Randall Way

Retford

DN22 7GR





 
HALO MOBILE LIMITED
Registered number: 08877709

Balance sheet
As at 31 August 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
19,406
73,196

  
19,406
73,196

Current assets
  

Stocks
  
1,000
1,000

Debtors
 5 
38,450
37,819

Cash at bank and in hand
  
2,595
7,477

  
42,045
46,296

Creditors: amounts falling due within one year
 6 
(39,694)
(66,873)

Net current assets/(liabilities)
  
 
 
2,351
 
 
(20,577)

Total assets less current liabilities
  
21,757
52,619

Creditors: amounts falling due after more than one year
 7 
(8,336)
(18,336)

Net assets
  
13,421
34,283


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
13,321
34,183

  
13,421
34,283


The director considers 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 director acknowledges his 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 by: 

S Pearson
Director

Date: 19 August 2025

Page 1

 
HALO MOBILE LIMITED
Registered number: 08877709

Balance sheet (continued)
As at 31 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
HALO MOBILE LIMITED
 

 
Notes to the financial statements
For the year ended 31 August 2024

1.


General information

Halo Mobile Limited is a private company limited by shares incorporated in England with the United Kingdom.  The registered office address is given on the Company Information page of these financial statements.

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

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:

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.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

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.

Page 3

 
HALO MOBILE LIMITED
 

 
Notes to the financial statements
For the year ended 31 August 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

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:

Handsets
-
50%
Fixtures and fittings
-
20%

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.

 
2.7

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 first in, first out 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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
HALO MOBILE LIMITED
 

 
Notes to the financial statements
For the year ended 31 August 2024

4.


Tangible fixed assets





Handsets
Office equipment
Total

£
£
£



Cost or valuation


At 1 September 2023
235,287
11,732
247,019


Additions
34,738
-
34,738



At 31 August 2024

270,025
11,732
281,757



Depreciation


At 1 September 2023
164,638
9,185
173,823


Charge for the year on owned assets
88,018
510
88,528



At 31 August 2024

252,656
9,695
262,351



Net book value



At 31 August 2024
17,369
2,037
19,406



At 31 August 2023
70,649
2,547
73,196

Page 5

 
HALO MOBILE LIMITED
 

 
Notes to the financial statements
For the year ended 31 August 2024

5.


Debtors

2024
2023
£
£


Amounts owed by related parties
35,450
33,850

Other debtors
3,000
3,969

38,450
37,819



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
17,559
55,448

Amounts owed to related parties
7,050
-

Taxation and social security
3,660
-

Accruals and deferred income
1,425
1,425

39,694
66,873



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
8,336
18,336

8,336
18,336



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 -100) Ordinary shares of £1.00 each
100
100



9.


Transactions with directors

Included in other debtors is a loan to a former director in the sum of £3,000.  The loan is unsecured, interest free and repayable on demand.

Page 6

 
HALO MOBILE LIMITED
 

 
Notes to the financial statements
For the year ended 31 August 2024

10.


Related party transactions

The company has taken advantage of the exemption provided by Paragraph 33.1A of FRS 102 and has not disclosed transactions that have taken place between wholly owned group members.


11.


Controlling party

The ultimate parent company is Spear Technology Holdings Limited, a company registered in England and Wales whose registered office is 70 Clarkehouse Road, Sheffield, S10 2LJ.
The company is controlled by Stuart Pearson as a result of his controlling interest in the holding company.


Page 7