14 13 Halco Products Limited 04566926 false 2025-04-01 2026-03-31 2026-03-31 The principal activity of the company is the wholesale of goods. Digita Accounts Production Advanced 6.30.9574.0 true false false true false false false 04566926 2025-04-01 2026-03-31 04566926 2026-03-31 04566926 bus:Director2 1 2026-03-31 04566926 bus:OrdinaryShareClass1 2026-03-31 04566926 bus:PreferenceShareClass1 bus:CumulativeNon-redeemableShares 2026-03-31 04566926 bus:Consolidated 2026-03-31 04566926 core:RetainedEarningsAccumulatedLosses 2026-03-31 04566926 core:ShareCapital 2026-03-31 04566926 core:CurrentFinancialInstruments 2026-03-31 04566926 core:CurrentFinancialInstruments core:WithinOneYear 2026-03-31 04566926 core:CostValuation 2026-03-31 04566926 core:FurnitureFittingsToolsEquipment 2026-03-31 04566926 core:MotorVehicles 2026-03-31 04566926 core:OtherPropertyPlantEquipment 2026-03-31 04566926 bus:SmallEntities 2025-04-01 2026-03-31 04566926 bus:Audited 2025-04-01 2026-03-31 04566926 bus:FilletedAccounts 2025-04-01 2026-03-31 04566926 bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 04566926 bus:RegisteredOffice 2025-04-01 2026-03-31 04566926 bus:Director2 2025-04-01 2026-03-31 04566926 bus:Director2 1 2025-04-01 2026-03-31 04566926 bus:OrdinaryShareClass1 2025-04-01 2026-03-31 04566926 bus:PreferenceShareClass1 bus:CumulativeNon-redeemableShares 2025-04-01 2026-03-31 04566926 bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 04566926 core:ComputerEquipment 2025-04-01 2026-03-31 04566926 core:FurnitureFittings 2025-04-01 2026-03-31 04566926 core:FurnitureFittingsToolsEquipment 2025-04-01 2026-03-31 04566926 core:MotorVehicles 2025-04-01 2026-03-31 04566926 core:OfficeEquipment 2025-04-01 2026-03-31 04566926 core:OtherPropertyPlantEquipment 2025-04-01 2026-03-31 04566926 core:Subsidiary1 2025-04-01 2026-03-31 04566926 core:Subsidiary2 2025-04-01 2026-03-31 04566926 core:Subsidiary3 2025-04-01 2026-03-31 04566926 1 2025-04-01 2026-03-31 04566926 countries:EnglandWales 2025-04-01 2026-03-31 04566926 2025-03-31 04566926 bus:Director2 1 2025-03-31 04566926 core:CostValuation 2025-03-31 04566926 core:FurnitureFittingsToolsEquipment 2025-03-31 04566926 core:MotorVehicles 2025-03-31 04566926 core:OtherPropertyPlantEquipment 2025-03-31 04566926 2024-04-01 2025-03-31 04566926 2025-03-31 04566926 bus:Director2 1 2025-03-31 04566926 bus:OrdinaryShareClass1 2025-03-31 04566926 bus:PreferenceShareClass1 bus:CumulativeNon-redeemableShares 2025-03-31 04566926 core:RetainedEarningsAccumulatedLosses 2025-03-31 04566926 core:ShareCapital 2025-03-31 04566926 core:CurrentFinancialInstruments 2025-03-31 04566926 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 04566926 core:FurnitureFittingsToolsEquipment 2025-03-31 04566926 core:MotorVehicles 2025-03-31 04566926 core:OtherPropertyPlantEquipment 2025-03-31 04566926 bus:Director2 1 2024-04-01 2025-03-31 04566926 core:Subsidiary1 2024-04-01 2025-03-31 04566926 core:Subsidiary2 2024-04-01 2025-03-31 04566926 core:Subsidiary3 2024-04-01 2025-03-31 04566926 bus:Director2 1 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares

Halco Products Limited
Annual Report and Financial Statements
Year Ended 31 March 2026

Registration number: 04566926

Halco Products Limited

Contents

Balance Sheet | 1
Notes to the Financial Statements | 2 to 9

Halco Products Limited

Balance Sheet

31 March 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Tangible assets | 4 | 110,931 | 162,591
Investments | 5 | 3 | 3
|  | 110,934 | 162,594
Current assets |  |  |
Stocks |  | 1,575,321 | 1,113,666
Debtors | 6 | 1,038,588 | 4,899,237
Cash at bank and in hand |  | 1,202,252 | 1,516,777
|  | 3,816,161 | 7,529,680
Creditors: Amounts falling due within one year | 7 | (671,063) | (869,500)
Net current assets |  | 3,145,098 | 6,660,180
Total assets less current liabilities |  | 3,256,032 | 6,822,774
Provisions for liabilities |  | (15,000) | (15,000)
Net assets |  | 3,241,032 | 6,807,774
Capital and reserves |  |  |
Called up share capital | 8 | 226,500 | 226,500
Profit and loss account |  | 3,014,532 | 6,581,274
Shareholders' funds |  | 3,241,032 | 6,807,774

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 12 August 2026 and signed on its behalf by:

......................................... Mr J S Martin Director

Halco Products Limited

Notes to the Financial Statements

Year Ended 31 March 2026

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon
EX2 7EX

The principal place of business is:
The Threshing Barn
Woodhayes
Honiton
Devon
EX14 4TP

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There are no material departures from FRS 102.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency of Halco Products Limited is considered to be pounds sterling because this is the currency of the primary economic environment in which the company operates.

Group accounts not prepared

In the opinion of the directors, the company and its subsidiaries comprise a small group. The company has not exercised the option to prepare group accounts provided by Section 398 of the Companies Act 2006.

Halco Products Limited

Notes to the Financial Statements

Year Ended 31 March 2026 (continued)

2 | Accounting policies (continued)

Going concern

The board of directors forecast growth in sales over the next 12 months with improved profitability. This position is based on actual performance from first quarter management accounts and business for the remainder of the year.
Taking into account all available information about the future, the board of directors have assessed the ability of the company to continue as a going concern, and consider the going concern assumption is appropriate when preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

Government grants

Government grants in respect of the Coronavirus Job Retention Scheme are recognised in the month to which the associated expense relates and are included in other operating income.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. All exchange differences are included in the profit and loss account.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Halco Products Limited

Notes to the Financial Statements

Year Ended 31 March 2026 (continued)

2 | Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixtures and fittings | 10 - 20% straight line
Office equipment | 10% straight line
Computer equipment | 20% straight line
Motor vehicles | 25% reducing balance

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. net realisable value is based on selling price less anticipated costs to completion and selling costs.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Halco Products Limited

Notes to the Financial Statements

Year Ended 31 March 2026 (continued)

2 | Accounting policies (continued)

Financial instruments

Classification
The company holds the following financial instruments which are classified as basic financial instruments:
• Short term trade and other debtors and creditors;
• Invoice financing arrangements; and
• Cash and bank balances.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Basic financial instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Derivative financial instruments and hedging

Derivatives
The company uses forward currency contracts and timed options to reduce exposure to foreign exchange rate movements. These are initially recognised at fair value at the date of inception and are subsequently remeasured to fair value at each reporting date. The resulting gain or loss is recognised immediately in the profit and loss account below operating profit.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2025 - 13).

Halco Products Limited

Notes to the Financial Statements

Year Ended 31 March 2026 (continued)

4 | Tangible assets

| Fixtures and fittings £ | Motor vehicles £ | Office and computer equipment £ | Total £
Cost or valuation
At 1 April 2025 | 110,149 | 122,496 | 113,911 | 346,556
Additions | 268 | - | 10,447 | 10,715
Disposals | - | - | (60,437) | (60,437)
At 31 March 2026 | 110,417 | 122,496 | 63,921 | 296,834
Depreciation
At 1 April 2025 | 75,465 | 42,108 | 66,392 | 183,965
Charge for the year | 9,246 | 20,097 | 14,672 | 44,015
Eliminated on disposal | - | - | (42,077) | (42,077)
At 31 March 2026 | 84,711 | 62,205 | 38,987 | 185,903
Carrying amount
At 31 March 2026 | 25,706 | 60,291 | 24,934 | 110,931
At 31 March 2025 | 34,684 | 80,388 | 47,519 | 162,591

Halco Products Limited

Notes to the Financial Statements

Year Ended 31 March 2026 (continued)

5 | Investments

| Investments in subsidiaries £
Cost or valuation
At 1 April 2025 | 3
At 31 March 2026 | 3
Carrying amount
At 31 March 2026 | 3
At 31 March 2025 | 3

Details of undertakings

Details of the investments in which the company any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2026 | 2025
Subsidiary undertakings
OK Vape Limited | Centenary House Peninsula Park Rydon Lane Exeter Devon EX2 7XE | Ordinary shares | 100% | 100%
Vape Products Limited | The Threshing Barn Woodhayes Luppitt Honiton EX14 4TP | Ordinary shares | 100% | 100%
OK CBD Limited | The Threshing Barn Woodhayes Luppitt Honiton EX14 4TP | Ordinary shares | 100% | 100%

OK Vape Limited is dormant.
Vape Products Limited is dormant.
OK CBD Limited is dormant.

Halco Products Limited

Notes to the Financial Statements

Year Ended 31 March 2026 (continued)

6 | Debtors

| 2026 £ | 2025 £
Trade debtors | 498,149 | 518,223
Other debtors | 371,370 | 4,218,662
Corporation tax recoverable | 104,695 | 104,695
Prepayments | 64,374 | 57,657
| 1,038,588 | 4,899,237

7 | Creditors

| 2026 £ | 2025 £
Due within one year |  |
Trade creditors | 53,154 | 49,686
Corporation tax | 388,755 | 432,180
Social security and other taxes | 181,019 | 320,387
Other creditors | 9,920 | 21,150
Accrued expenses | 38,215 | 46,097
| 671,063 | 869,500

8 | Share capital

Allotted, called up and fully paid shares

| 2026 | 2025
| No. | £ | No. | £
A Ordinary shares of £1 each | 11,500 | 11,500 | 11,500 | 11,500
Preference shares of £1 each | 215,000 | 215,000 | 215,000 | 215,000
| 226,500 | 226,500 | 226,500 | 226,500

9 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £45,429 (2025: £16,954). These are operating leases for land, buildings and equipment.

Halco Products Limited

Notes to the Financial Statements

Year Ended 31 March 2026 (continued)

10 | Related party transactions

Transactions with directors

2026 | At 1 April 2025 £ | Advances to director £ | Repayments by director £ | At 31 March 2026 £
Director A
Directors current account | 4,135,222 | 3,206,232 | (7,029,339) | 312,115

2025 | At 1 April 2024 £ | Advances to director £ | Repayments by director £ | At 31 March 2025 £
Director A
Directors current account | 323,877 | 4,173,961 | (362,616) | 4,135,222

11 | Parent and ultimate parent undertaking

The company's immediate parent is LBH Group Limited, incorporated in England and Wales.

12 | Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Neil Hitchings, who signed for and on behalf of PKF Francis Clark on 12 August 2026.