Company registration number:
04407168
Hallett Independent Limited
Unaudited filleted financial statements
31 March 2026
Hallett Independent Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Hallett Independent Limited
Directors and other information
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Directors |
Mr Adam Richard Prideaux |
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Dr Nathanael D. I. Price |
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Company number |
04407168 |
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Registered office |
Asset House |
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7-9 Quay Street |
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Lymington |
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Hampshire |
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SO41 3AS |
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Accountants |
Redford & Co Limited |
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Chartered Accountants |
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Synergy House 4th Floor |
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114-118 Southampton Row |
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London |
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WC1B 5AA |
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Hallett Independent Limited
Statement of financial position
31 March 2026
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2026 |
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2025 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
78,706 |
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70,785 |
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Investments |
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6 |
116,600 |
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116,600 |
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_______ |
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_______ |
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195,306 |
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187,385 |
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Current assets |
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Debtors |
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7 |
1,810,537 |
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1,758,217 |
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Cash at bank and in hand |
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1,822,609 |
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1,796,586 |
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_______ |
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_______ |
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3,633,146 |
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3,554,803 |
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Creditors: amounts falling due |
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within one year |
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(
1,465,639) |
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(
1,745,676) |
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_______ |
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_______ |
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Net current assets |
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2,167,507 |
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1,809,127 |
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_______ |
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Total assets less current liabilities |
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2,362,813 |
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1,996,512 |
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_______ |
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_______ |
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Net assets |
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2,362,813 |
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1,996,512 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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11,223 |
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11,223 |
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Profit and loss account |
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2,351,590 |
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1,985,289 |
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_______ |
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Shareholders funds |
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2,362,813 |
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1,996,512 |
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_______ |
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_______ |
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For the 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:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
09 September 2026
, and are signed on behalf of the board by:
Mr Adam Richard Prideaux
Director
Company registration number:
04407168
Hallett Independent Limited
Notes to the financial statements
Year ended 31 March 2026
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Asset House, 7-9 Quay Street, Lymington, Hampshire, SO41 3AS.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered. Revenue from the sale of insurance products is recognised when the significant risks and rewards of ownership have transferred to the buyer, 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.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 are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
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Fixtures, fittings and equipment |
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25% reducing balance |
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Art collection |
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10% reducing balance |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
14
(2025:
15
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7.
Debtors
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2026 |
2025 |
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£ |
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Trade debtors |
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1,140,219 |
1,435,712 |
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Other debtors |
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670,318 |
322,505 |
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_______ |
_______ |
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1,810,537 |
1,758,217 |
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_______ |
_______ |
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8.
Creditors: amounts falling due within one year
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2026 |
2025 |
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£ |
£ |
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Trade creditors |
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1,056,612 |
1,458,328 |
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Corporation tax |
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280,129 |
160,306 |
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Social security and other taxes |
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39,231 |
37,761 |
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Other creditors |
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89,667 |
89,281 |
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_______ |
_______ |
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1,465,639 |
1,745,676 |
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_______ |
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9.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
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£ |
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| Not later than 1 year |
55,207 |
54,577 |
| Later than 1 year and not later than 5 years |
215,590 |
228,797 |
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270,797 |
283,374 |
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10.
Related party transactions
The company has a loan account with N Price as at 31st March 2026 of £25,000 (2025 - £25,000) which represents monies owed to the company by the director. The loan account is interest-free, unsecured and repayable on demand. The company has a loan account with A Prideaux as at 31st March 2026 of £257,178 (2025 - £30,659) which represents monies owed to the company by the director. The loan account is interest-free, unsecured and repayable on demand. Total dividends of £225,000 (2025 - £202,000) were paid during the year.
11.
Controlling party
The company is controlled by A Prideaux by virtue of his shareholding.