Company registration number 05379631 (England and Wales)
HALLS PARTICIPATIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
HALLS PARTICIPATIONS LIMITED
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 6
HALLS PARTICIPATIONS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 1 -
The directors present their annual report and financial statements for the year ended 30 September 2023.
Principal activities
The company is an intermediate holding company within the Halls Holdings Limited group of companies. The company itself did not trade during the year under review.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr A T Gittins
Mr R G Bielby
Mr J F Evans
Mr A F S Hughes
(Resigned 25 May 2023)
Mrs S A Hulland
Mr S A Jones
(Resigned 15 December 2023)
Mr J J Quinn
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr J J Quinn
Director
9 February 2024
HALLS PARTICIPATIONS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
60,000
20,005
Investments
4
116,304
116,304
176,304
136,309
Current assets
Debtors
6
147,612
147,612
Creditors: amounts falling due within one year
7
(185,921)
(185,921)
Net current liabilities
(38,309)
(38,309)
Total assets less current liabilities
137,995
98,000
Provisions for liabilities
(9,999)
Net assets
127,996
98,000
Capital and reserves
Called up share capital
98,000
98,000
Revaluation reserve
8
29,996
Total equity
127,996
98,000
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 9 February 2024 and are signed on its behalf by:
Mr J J Quinn
Director
Company registration number 05379631 (England and Wales)
HALLS PARTICIPATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information
Halls Participations Limited is a private company limited by shares incorporated in England and Wales. The registered office is Halls Holdings House, Bowmen Way, Battlefield, Shrewsbury, Shropshire, SY4 3DR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings
No charge
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
HALLS PARTICIPATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
There were no employees during 2022 or 2021.
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 October 2022
20,005
Revaluation
39,995
At 30 September 2023
60,000
Depreciation and impairment
At 1 October 2022 and 30 September 2023
Carrying amount
At 30 September 2023
60,000
At 30 September 2022
20,005
HALLS PARTICIPATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
3
Tangible fixed assets
(Continued)
- 5 -
Included in cost of land and buildings is freehold land of £60,000 (2022: £20,005) which is not depreciated.
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
116,304
116,304
5
Subsidiaries
Details of the company's subsidiaries at 30 September 2023 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Hall Wateridge and Owen Limited
Ordinary
100.00
Halls (2015) Limited
Ordinary
100.00
Halls 2008 Limited
Ordinary
100.00
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
147,612
147,612
7
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
185,921
185,921
8
Revaluation reserve
2023
2022
£
£
At the beginning of the year
Revaluation surplus arising in the year
39,995
Deferred tax on revaluation of tangible assets
(9,999)
-
At the end of the year
29,996
-
9
Related party transactions
Group relationships
The company is the parent of Hall Wateridge and Owen Limited, Halls 2008 Limited and Halls (2015) Limited, all of which are wholly owned subsidiaries.
HALLS PARTICIPATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 6 -
10
Parent company
Halls Participations Limited is a 100% subsidiary of Halls Holdings Limited, which is the ultimate parent company. There is no ultimate controlling party.