Company registration number 06597073 (England and Wales)
HALLS HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
HALLS HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mr A T Gittins
Mr J J Quinn
Mrs S A Hulland
Mr J F Evans
Mr J Murgatroyd
(Appointed 1 October 2024)
Mrs A-M Brettell
(Appointed 1 October 2024)
Secretary
Mrs A Llewellyn-Bell
Company number
06597073
Registered office
Halls Holdings House
Bowmen Way
Battlefield
Shrewsbury
United Kingdom
SY4 3DR
Auditor
bk plus Audit Limited
Azzurri House
Walsall Road
Aldridge
Walsall
England
WS9 0RB
HALLS HOLDINGS LIMITED
CONTENTS
Page
Directors' report
1
Directors' responsibilities statement
2
Independent auditor's report
3 - 5
Profit and loss account
6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Notes to the financial statements
10 - 18
HALLS HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 1 -

The directors present their annual report and financial statements for the year ended 30 September 2025.

Principal activities

The principal activities of the company continued to be that of auctioneers of art, collective machinery sales, onsite dispersal sales and collective property auctions; valuers of residential, commercial and rural properties; and estate agents and property letting agents. The company also provides professional services in relation to property management, planning and land management. The activities are carried out in the counties of Shropshire, Worcestershire, Powys and neighbouring counties.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr A T Gittins
Mr J J Quinn
Mrs S A Hulland
Mr J F Evans
Mr J Murgatroyd
(Appointed 1 October 2024)
Mrs A-M Brettell
(Appointed 1 October 2024)
Auditor

bk plus Audit Limited were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr J J Quinn
Director
13 January 2026
HALLS HOLDINGS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

HALLS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF HALLS HOLDINGS LIMITED
- 3 -
Opinion

We have audited the financial statements of Halls Holdings Limited (the 'company') for the year ended 30 September 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 September 2025 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 opinion

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 opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the directors' report has been prepared in accordance with applicable legal requirements.

HALLS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF HALLS HOLDINGS LIMITED (CONTINUED)
- 4 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the directors' r eport. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit; or

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

From the preliminary stage of the audit, we ensure our understanding of the entity is up to date. This includes, but is not limited to, current knowledge of their activities, the business and control environments, and their compliance with the applicable legal and regulatory frameworks. This information supports our risk identification and the subsequent design of audit procedures to mitigate those risks; ensuring that the audit evidence obtained is sufficient and appropriate to support our opinion.

In response to the risks identified, specific to this entity, we designed procedures which included, but were not limited to:

- Enquiry of management and those charged with governance around actual and potential litigation and claims;

- Reviewing minutes of meetings of those charged with governance, if available;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale for significant transactions outside the normal course of business.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

HALLS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF HALLS HOLDINGS LIMITED (CONTINUED)
- 5 -

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Amy Cotterill ACA (Senior Statutory Auditor)
For and on behalf of bk plus Audit Limited, Statutory Auditor
Chartered Certified Accountants
Azzurri House
Walsall Road
Aldridge
Walsall
WS9 0RB
England
13 January 2026
HALLS HOLDINGS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 6 -
2025
2024
Notes
£
£
Turnover
9,168,661
7,391,669
Cost of sales
(1,060,734)
(792,562)
Gross profit
8,107,927
6,599,107
Administrative expenses
(6,483,751)
(5,528,179)
Other operating income
3,634
36,541
Operating profit
1,627,810
1,107,469
Interest receivable and similar income
5
67,637
79,360
Interest payable and similar expenses
(120,977)
(119,480)
Amounts written off investments
-
53,599
Profit before taxation
1,574,470
1,120,948
Tax on profit
6
(396,857)
(81,965)
Profit for the financial year
1,177,613
1,038,983

The profit and loss account has been prepared on the basis that all operations are continuing operations.

HALLS HOLDINGS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 7 -
2025
2024
£
£
Profit for the year
1,177,613
1,038,983
Other comprehensive income
-
-
Total comprehensive income for the year
1,177,613
1,038,983
HALLS HOLDINGS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 8 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
7
11,000
23,000
Tangible assets
8
224,699
267,898
Investments
9
20,015
20,015
255,714
310,913
Current assets
Debtors
11
3,120,388
2,126,494
Cash at bank and in hand
649,075
715,437
3,769,463
2,841,931
Creditors: amounts falling due within one year
12
(2,087,546)
(1,378,030)
Net current assets
1,681,917
1,463,901
Total assets less current liabilities
1,937,631
1,774,814
Creditors: amounts falling due after more than one year
13
(858,400)
(942,000)
Provisions for liabilities
(26,262)
(32,458)
Net assets
1,052,969
800,356
Capital and reserves
Called up share capital
1,000
1,000
Share premium account
73,850
73,850
Other reserve
20,015
20,015
Profit and loss reserves
958,104
705,491
Total equity
1,052,969
800,356

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 13 January 2026 and are signed on its behalf by:
Mr J J Quinn
Director
Company registration number 06597073 (England and Wales)
HALLS HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 9 -
Share capital
Share premium account
Revaluation reserve
Other reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
£
£
Balance at 1 October 2023
975
73,850
355,998
20,015
25
1,708,770
2,159,633
Year ended 30 September 2024:
Profit and total comprehensive income
-
-
-
-
-
1,038,983
1,038,983
Dividends
-
-
-
-
-
(2,463,982)
(2,463,982)
Own shares acquired
-
-
-
-
-
65,722
65,722
Other movements
25
-
(355,998)
-
(25)
355,998
-
Balance at 30 September 2024
1,000
73,850
-
0
20,015
-
0
705,491
800,356
Year ended 30 September 2025:
Profit and total comprehensive income
-
-
-
-
-
1,177,613
1,177,613
Dividends
-
-
-
-
-
(925,000)
(925,000)
Balance at 30 September 2025
1,000
73,850
-
0
20,015
-
0
958,104
1,052,969
HALLS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 10 -
1
Accounting policies
Company information

Halls Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Halls Holdings House, Bowmen Way, Battlefield, Shrewsbury, United Kingdom, SY4 3DR.

1.1
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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

The financial statements of the company are consolidated in the financial statements of Halls Holdings Limited. These consolidated financial statements are available from its registered office, at Halls Holdings House, Bowmen Way, Battlefield, Shrewsbury, SY4 3DR.

1.2
Turnover

Turnover represents commissions received in relation to auctions of art, collective machinery sales, on-site dispersal sales and collective property auctions. These are reported on the date that the invoices are raised being the date of the auction. Turnover also includes income from professional services relating to the valuation of properties and land, property management, planning and land management these are again reported on the date that the invoice is raised i.e. when the project has been completed. Property transactional work is charged for between exchange and completion of the sale. Management charges are raised on a periodic basis depending on the nature of the client or clients who use the company as a property letting agent on a monthly basis.

Turnover excludes value added tax.

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 dispatch 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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

HALLS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 11 -
1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of trade and assets in 2010 was fully written off subsequent to the transfer being completed. It is the opinion of the directors that the useful economic life and current value of this goodwill cannot be reliably estimated and that it should be carried at nil value to ensure that the true and fair view shown in the accounts is not compromised.

1.4
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.

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:

Leasehold improvements
Over the period of the lease
Fixtures and fittings
10% - 33% on cost
Motor vehicles
25% on cost

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.

1.5
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

HALLS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 12 -
1.8
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 balance sheet 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 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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, 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 paymen ts 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. A m ounts 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.

Other financial liabilities

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

1.9
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.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

HALLS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 13 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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.

1.12
Leases

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 lease s asset are consumed.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

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.

HALLS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 14 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Administration etc.
21
15
Residential
59
53
Fine Art
12
11
Rural Professional
12
17
Commercial
14
11
Auctions
32
35
Total
150
142

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
3,935,906
3,415,332
Social security costs
389,304
305,451
4,325,210
3,720,783
4
Directors' remuneration
2025
2024
£
£
Remuneration paid to directors
493,924
431,137
5
Interest receivable and similar income
2025
2024
£
£
Interest receivable and similar income includes the following:
Income from shares in group undertakings
-
0
39,995
6
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
403,053
225,911
HALLS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
6
Taxation
2025
2024
£
£
(Continued)
- 15 -
Deferred tax
Origination and reversal of timing differences
(6,196)
(143,946)
Total tax charge
396,857
81,965

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
1,574,470
1,120,948
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
393,618
280,237
Tax effect of expenses that are not deductible in determining taxable profit
8,250
9,928
Tax effect of income not taxable in determining taxable profit
-
0
(32,455)
Group relief
(10,170)
(27)
Permanent capital allowances in excess of depreciation
(19,019)
(44,402)
Depreciation on assets not qualifying for tax allowances
30,374
22,629
Deferred tax adjustments in respect of prior years
(6,196)
(143,946)
Dividend income
-
0
(9,999)
Taxation charge for the year
396,857
81,965
7
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2024 and 30 September 2025
287,196
Amortisation and impairment
At 1 October 2024
264,196
Amortisation charged for the year
12,000
At 30 September 2025
276,196
Carrying amount
At 30 September 2025
11,000
At 30 September 2024
23,000
HALLS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 16 -
8
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost or valuation
At 1 October 2024
96,155
836,432
56,650
989,237
Additions
-
0
66,958
-
0
66,958
At 30 September 2025
96,155
903,390
56,650
1,056,195
Depreciation and impairment
At 1 October 2024
57,509
652,953
10,877
721,339
Depreciation charged in the year
5,940
91,473
12,744
110,157
At 30 September 2025
63,449
744,426
23,621
831,496
Carrying amount
At 30 September 2025
32,706
158,964
33,029
224,699
At 30 September 2024
38,646
183,479
45,773
267,898
9
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
20,015
20,015
10
Subsidiaries

Details of the company's subsidiaries at 30 September 2025 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Halls Participations Limited
Halls Holdings House
Holding company
Ordinary
100.00

The following are wholly owned subsidiaries of Halls Participations Limited:

Hall, Wateridge and Owen Limited

Halls 2008 Limited

Halls (2015) Limited

HALLS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 17 -
11
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,840,739
1,947,039
Amounts owed by group undertakings and undertakings in which the company has a participating interest
39,983
-
0
Other debtors
239,666
179,455
3,120,388
2,126,494
12
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
235,570
230,328
Amounts owed to group undertakings
167,618
167,618
Corporation tax
233,530
63,515
Other taxation and social security
423,345
349,885
Other creditors
1,027,483
566,684
2,087,546
1,378,030
13
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
858,400
942,000
14
Financial commitments, guarantees and contingent liabilities

The company's bankers hold the following securities in respect of all amounts becoming due to them from the company and its subsidiaries:

- A first priority Legal Charge given by Halls Holdings Limited dated 18/04/2013 over land lying to the west of Shrewsbury Livestock Auctions, Bowmen Way, Battlefield, Shrewsbury known as Halls Holdings House

- Debenture given by Halls Holdings Limited dated 18/04/2013.

With the exception of clients monies, right of set off is included in our facility agreements and Legal Charge forms.

HALLS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 18 -
15
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:

2025
2024
£
£
Total commitments
759,431
761,036
16
Related party transactions

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Entities over which the entity has control, joint control or significant influence
39,978
3,755
Other information

During the year rent of £8,500 was paid to Mrs Gittins and Mrs Willcock, spouse of A T Gittins (director) and M P Willcock (director until 30.09.2017) (2024 - £8,500).

As part of the rental agreement, Halls Holdings Limited has the option to purchase the property from Mrs Gittins and Mrs Willcock. The option was not exercised during the 2025 financial year.

Group Exemption:

The company has taken advantage of the exemption available not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.

17
Parent company

Halls Holdings Limited is a 100% subsidiary of Halls Holdings Group Limited, which is the ultimate parent company. There is no ultimate controlling party.

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