Hallgruppen Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13986303

Hallgruppen Limited

Filleted Financial Statements

31 December 2024

Hallgruppen Limited

Financial Statements

Year ended 31 December 2024

Contents	Pages

Balance sheet	1

Notes to the financial statements	2 to 8

Hallgruppen Limited

Balance Sheet

31 December 2024

	2024	2023
		(restated)
Note	£	£

Fixed assets

Tangible assets	5	464,932	198,591

Current assets

Stocks		617,240	720,141
Debtors	6	1,521,573	410,477
Cash at bank and in hand		397,857	415,215
		------------	------------
		2,536,670	1,545,833

Creditors: amounts falling due within one year	7	5,709,487	2,217,099
		------------	------------
Net current liabilities		3,172,817	671,266
		------------	---------
Total assets less current liabilities		( 2,707,885)	( 472,675)

Provisions	8	49,000	33,000
		------------	---------
Net liabilities		( 2,756,885)	( 505,675)
		------------	---------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	( 2,757,885)	( 506,675)
	------------	---------
Shareholders deficit	( 2,756,885)	( 505,675)
	------------	---------

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 profit and loss account has not been delivered.

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.

These financial statements were approved by the board of directors and authorised for issue on 31 July 2025 , and are signed on behalf of the board by:

Mr Lars Dalgaard
Director

Company registration number: 13986303

Hallgruppen 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 and Wales. The address of the registered office is Unit 9 Wayfields Farm, Rownall Road, Wetley Rocks, Stoke On Trent, ST9 0BP.

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. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the parent company that they will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the director considers it appropriate to prepare the accounts on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. On all standard contracts revenue is recognised at three distinct stages: 50% on order; 40% on delivery of goods to site; 10% on installation. Where a contract is 'short' and there is little time between stage two and three one invoice will usually be raised upon completion. On a longer contract the customer will issue payment applications at agreed stages of completion and revenue is recognised in accordance with these.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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	-	15% straight line
Fixtures and fittings	-	20% straight line
Motor vehicles	-	25% straight line
Equipment	-	25% straight line
Rental assets	-	over 14 years

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. Cost is calculated based on most recent purchase price.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal values. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and cash in hand. Trade creditors Trade creditors are not interest bearing and are stated at their nominal value.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2023: 5 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Computer equipment	Rental assets	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2024 (as restated)	–	9,742	219,886	14,342	–	243,970
Additions	21,600	1,040	161,255	12,088	222,969	418,952
Disposals	–	( 703)	( 38,088)	( 497)	–	( 39,288)
	--------	--------	---------	--------	---------	---------
At 31 Dec 2024	21,600	10,079	343,053	25,933	222,969	623,634
	--------	--------	---------	--------	---------	---------
Depreciation
At 1 Jan 2024	–	1,461	41,229	2,689	–	45,379
Charge for the year	3,240	2,016	92,905	6,608	15,926	120,695
Disposals	–	( 105)	( 7,142)	( 125)	–	( 7,372)
	--------	--------	---------	--------	---------	---------
At 31 Dec 2024	3,240	3,372	126,992	9,172	15,926	158,702
	--------	--------	---------	--------	---------	---------
Carrying amount
At 31 Dec 2024	18,360	6,707	216,061	16,761	207,043	464,932
	--------	--------	---------	--------	---------	---------
At 31 Dec 2023	–	8,281	178,657	11,653	–	198,591
	--------	--------	---------	--------	---------	---------

6. Debtors

	2024	2023
		(restated)
	£	£
Trade debtors	196,881	138,209
Deferred tax asset	970,000	210,000
Prepayments and accrued income	83,535	31,841
Other debtors	271,157	30,427
	------------	---------
	1,521,573	410,477
	------------	---------

7. Creditors: amounts falling due within one year

	2024	2023
		(restated)
	£	£
Trade creditors	201,029	41,127
Amounts owed to group undertakings	4,868,605	1,923,772
Accruals and deferred income	587,871	211,146
Social security and other taxes	34,160	17,371
Other creditors	17,822	23,683
	------------	------------
	5,709,487	2,217,099
	------------	------------

8. Provisions

	Deferred tax (note 9)
	£
At 1 January 2024 (as restated)	33,000
Charged to profit and loss account	16,000
	--------
At 31 December 2024	49,000
	--------

9. Deferred tax

The deferred tax included in the balance sheet is as follows:

	2024	2023
		(restated)
	£	£
Included in debtors (note 6)	970,000	210,000
Included in provisions (note 8)	( 49,000)	( 33,000)
	---------	---------
	921,000	177,000
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
		(restated)
	£	£
Accelerated capital allowances	49,000	33,000
Unused tax losses	( 970,000)	( 210,000)
	---------	---------
	(921,000)	(177,000)
	---------	---------

10. Prior period errors

No deferred tax had been included in the financial statements for the period ended 31 December 2023. A prior period adjustment has been processed to correct the deferred tax asset and deferred tax liability at 31 December 2023. This has resulted in an increase in profit of £177,000.

11. Operating leases

As lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
		(restated)
	£	£
Not later than 1 year	205,198	95,000
Later than 1 year and not later than 5 years	597,310	347,917
	---------	---------
	802,508	442,917
	---------	---------

As lessor

The total future minimum lease payments receivable under non-cancellable operating leases are as follows:

	2024	2023
		(restated)
	£	£
Not later than 1 year	47,964	23,556
Later than 1 year and not later than 5 years	109,219	84,287
	---------	---------
	157,183	107,843
	---------	---------

12. Summary audit opinion

The auditor's report dated 1 August 2025 was unqualified .

The senior statutory auditor was Andrew Pountney , for and on behalf of Dean Statham .

13. Related party transactions

As a wholly owned subsidiary of Hallgruppen AS the company is exempt from the requirements of FRS 102 to disclose transactions with the other members of the group.

14. Controlling party

The ultimate parent company is Hallgruppen AS a company registered in Norway. The registered office address is Kordine Eggens vei 3, N-2016 Frogner.