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%