Company No: 09292926 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Investment property	3	1,190,000		1,190,000
		1,190,000		1,190,000
Current assets
Debtors	4	372,783		28,455
Cash at bank and in hand		852		310
		373,635		28,765
Creditors: amounts falling due within one year	5	( 1,158,360)		( 732,726)
Net current liabilities		(784,725)		(703,961)
Total assets less current liabilities		405,275		486,039
Creditors: amounts falling due after more than one year	6	0		( 348)
Net assets		405,275		485,691
Capital and reserves
Called-up share capital	7	1		1
Profit and loss account	8	405,274		485,690
Total shareholder's funds		405,275		485,691

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Hallen Industrial Estate Limited (registered number: 09292926) were approved and authorised for issue by the Board of Directors on 19 August 2026. They were signed on its behalf by:

Mr J D Romain Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hallen Industrial Estate Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 50 Clifton Down Road, Clifton, Bristol, BS8 4AH, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net current liabilities of £784,725. The Company is supported through loans from the Parent Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents rent receivable during the year. Rental income is recognised net of VAT on an accruals basis in accordance with the relevant rental agreements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Leases

The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the Company's net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the Company's net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Investment property

	Investment property
	£
Valuation
As at 01 April 2025	1,190,000
Additions	399,732
Fair value movement	(59,732)
Disposals	(340,000)
As at 31 March 2026	1,190,000

Valuation

The fair value is determined annually by the directors, on an open market value for existing use basis.

4. Debtors

	2026		2025
	£		£
Trade debtors	50,230		25,227
Prepayments	3,505		2,930
Other debtors	319,048		298
	372,783		28,455

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	4,664		2,779
Amounts owed to Group undertakings	990,955		658,962
Accruals and deferred income	45,870		38,023
Taxation and social security	115,284		32,962
Other creditors	1,587		0
	1,158,360		732,726

The Company is party to an unlimited cross-guarantee with its parent company, Brymain Investments Limited in favour of National Westminster Bank.

6. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Other creditors	0		348

7. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

8. Profit and Loss account

	2026		2025
	£		£
Profit and loss account - distributable	525,006		545,690
Profit and loss account - non-distributable	(119,732)		(60,000)
	405,274		485,690

Profit and loss account - distributable

This reserve relates to the aggregate of distributable profits and losses generated to date.

Profit and loss account - non-distributable

This reserve relates to the aggregate of fair value adjustments in respect of the investment properties, less the deferred tax charges on those fair value movements.