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COMPANY REGISTRATION NUMBER: SC711935

Halicon Holdings Ltd

Filleted Unaudited Financial Statements

For the year ended

31 October 2025

Halicon Holdings Ltd

Statement of Financial Position

31 October 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Tangible assets | 5 | 1,923,504 | 1,934,218

Current assets

Debtors | 6 | 22,551 | 26,863
Cash at bank and in hand | 45,027 | 36,093
| -------- | --------
| 67,578 | 62,956

Creditors: amounts falling due within one year | 7 | 402,065 | 398,554
| --------- | ---------
Net current liabilities | 334,487 | 335,598
| ------------ | ------------
Total assets less current liabilities | 1,589,017 | 1,598,620

Provisions | 381,929 | 384,272
| ------------ | ------------
Net assets | 1,207,088 | 1,214,348
| ------------ | ------------

Capital and reserves

Called up share capital | 3 | 3
Profit and loss account | 1,207,085 | 1,214,345
| ------------ | ------------
Shareholders funds | 1,207,088 | 1,214,348
| ------------ | ------------

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 statement of income and retained earnings has not been delivered.
For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Halicon Holdings Ltd

Statement of Financial Position (continued)

31 October 2025
These financial statements were approved by the board of directors and authorised for issue on 20 March 2026 , and are signed on behalf of the board by:

W A Brown
Director

Company registration number: SC711935

Halicon Holdings Ltd

Notes to the Financial Statements

Year ended 31 October 2025
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 47 Cadzow Street, Hamilton, ML3 6ED.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:

| Freehold property | - | 0% to 25% reducing balance
| Plant and machinery | - | 25% Reducing balance
| Fixtures and fittings | - | 25% Reducing balance
| Motor vehicles | - | 25% Reducing balance
| Equipment | - | 25% Reducing balance

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. It is subsequently revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 statement of financial position 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.
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 2 (2024: 2 ).
5. Tangible assets

| Freehold property | Plant and machinery | Fixtures and fittings | Motor vehicles | Equipment | Total
| £ | £ | £ | £ | £ | £
Cost |  |  |  |  |  |
At 1 Nov 2024 | 1,878,046 | 15,275 | 2,860 | 78,795 | 619 | 1,975,595
Additions | – | 5,982 | – | 12,600 | 424 | 19,006
Disposals | – | – | – | ( 34,530) | – | ( 34,530)
| ------------ | -------- | ------- | -------- | ------- | ------------
At 31 Oct 2025 | 1,878,046 | 21,257 | 2,860 | 56,865 | 1,043 | 1,960,071
| ------------ | -------- | ------- | -------- | ------- | ------------
Depreciation |  |  |  |  |  |
At 1 Nov 2024 | – | 4,427 | 1,341 | 35,333 | 276 | 41,377
Charge for the year | – | 4,208 | 380 | 10,374 | 191 | 15,153
Disposals | – | – | – | ( 19,963) | – | ( 19,963)
| ------------ | -------- | ------- | -------- | ------- | ------------
At 31 Oct 2025 | – | 8,635 | 1,721 | 25,744 | 467 | 36,567
| ------------ | -------- | ------- | -------- | ------- | ------------
Carrying amount |  |  |  |  |  |
At 31 Oct 2025 | 1,878,046 | 12,622 | 1,139 | 31,121 | 576 | 1,923,504
| ------------ | -------- | ------- | -------- | ------- | ------------
At 31 Oct 2024 | 1,878,046 | 10,848 | 1,519 | 43,462 | 343 | 1,934,218
| ------------ | -------- | ------- | -------- | ------- | ------------

Included within the above is investment property as follows:

| £
| ------------
At 1 November 2024 and 31 October 2025 | 1,878,046
| ------------

On 22 March 2024 a number of Investment Properties were revalued to open market value by Whyte & Barrie, Chartered Surveyors.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

| Freehold property
| £
At 31 October 2025 |
Aggregate cost | 374,801
Aggregate depreciation | (29,317)
| ---------
Carrying value | 345,484
| ---------

At 31 October 2024 |
Aggregate cost | 374,801
Aggregate depreciation | (22,186)
| ---------
Carrying value | 352,615
| ---------

6. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 22,517 | 26,863
Other debtors | 34 | –
| -------- | --------
| 22,551 | 26,863
| -------- | --------

7. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 300 | 516
Corporation tax | 6,003 | 2,260
Other creditors | 395,762 | 395,778
| --------- | ---------
| 402,065 | 398,554
| --------- | ---------

8. Deferred tax
The deferred tax included in the statement of financial position is as follows:

| 2025 | 2024
| £ | £
Included in provisions | 381,929 | 384,272
| --------- | ---------

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

| 2025 | 2024
| £ | £
Accelerated capital allowances | 6,118 | 8,461
Fair value adjustment of investment property | 375,811 | 375,811
| --------- | ---------
| 381,929 | 384,272
| --------- | ---------

9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:

| 2025
|  | Balance brought forward | Advances/ (credits) to the directors | Amounts repaid | Balance outstanding
|  | £ | £ | £ | £
| W A Brown | ( 288,376) | 43,239 | ( 44,420) | ( 289,557)
| M Brown | ( 104,153) | 22,182 | ( 18,000) | ( 99,971)
|  | --------- | -------- | -------- | ---------
|  | ( 392,529) | 65,421 | ( 62,420) | ( 389,528)
|  | --------- | -------- | -------- | ---------

| 2024
|  | Balance brought forward | Advances/ (credits) to the directors | Amounts repaid | Balance outstanding
|  | £ | £ | £ | £
| W A Brown | ( 272,126) | ( 99,004) | 82,754 | ( 288,376)
| M Brown | ( 105,165) | ( 18,000) | 19,012 | ( 104,153)
|  | --------- | --------- | --------- | ---------
|  | ( 377,291) | ( 117,004) | 101,766 | ( 392,529)
|  | --------- | --------- | --------- | ---------

10. Related party transactions
During the year a Ford Transit Van SC71 HYZ was purchased for £29,004 from W Brown of Johnshill Farm who is also a Director of this company.