Haleport Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06274660 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

HALEPORT LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

79,801

42,034

79,801

42,034

CURRENT ASSETS

Stocks

3,750

5,600

Debtors

7

122,740

175,939

Cash at bank

128,448

167,281

254,938

348,820

CREDITORS

Amounts falling due within one year

8

61,353

90,372

NET CURRENT ASSETS

193,585

258,448

TOTAL ASSETS LESS CURRENT LIABILITIES

273,386

300,482

CREDITORS

Amounts falling due after more than one year

9

(18,131

)

(27,900

)

PROVISIONS FOR LIABILITIES

(18,934

)

(7,026

)

NET ASSETS

236,321

265,556

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

236,221

265,456

SHAREHOLDERS' FUNDS

236,321

265,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 January 2024 and were signed by:

S N Bass - Director

1.	STATUTORY INFORMATION

Haleport Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06274660

Registered office:

Unit 1, Little Hall Industries

Tonbridge Road

Hadlow

Tonbridge

Kent

TN11 0AH

The presentation currency of the financial statements is the Pound Sterling (£).

All amounts in the financial statements have been rounded to the nearest £.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In preparing these financial statements, the members have made the following judgements:

- Determine whether leases entered into by the entity either as a lessor or a lessee are operating lease or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine whether there are indicators of impairment of the entity's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Turnover and revenue recognition

Turnover represents the total invoice value, excluding value added tax, of goods sold and services rendered during the year. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying goods and services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, was amortised evenly over its estimated useful life of ten years and is therefore now fully amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are recorded at historical cost less accumulated depreciation and any provision for impairment. Cost comprises the purchase price together with all expenses directly incurred in bringing the asset to its location and condition ready for use.

Depreciation is provided on tangible fixed assets at the following annual rates in order to write off each asset over its estimated useful life:

Asset class

Depreciation method and rate

Plant & Machinery

15% reducing balance

Fixtures & Fittings

15% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

33% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial assets, including trade debtors, loan to its parent undertaking and cash and bank balances, are initially measured at the transaction price including transaction costs and are subsequently recognised at amortised cost.

Basic financial liabilities, including trade creditors, other creditors and bank loan, are initially recognised at transaction price and are subsequently recognised at amortised cost.

Classification of financial liabilities

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 entity after deducting all of its financial liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2022

and 31 August 2023

199,994

AMORTISATION

At 1 September 2022

and 31 August 2023

199,994

NET BOOK VALUE

At 31 August 2023

-

At 31 August 2022

-

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2022

264,338

Additions

52,596

Disposals

(689

)

At 31 August 2023

316,245

DEPRECIATION

At 1 September 2022

222,304

Charge for year

14,829

Eliminated on disposal

(689

)

At 31 August 2023

236,444

NET BOOK VALUE

At 31 August 2023

79,801

At 31 August 2022

42,034

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

57,523

75,821

Amounts owed by group undertakings

59,171

93,701

Other debtors

6,046

6,417

122,740

175,939

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

22,317

39,610

Taxation and social security

26,654

38,240

Other creditors

2,382

2,522

61,353

90,372

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

18,131

27,900

10.	LEASING AGREEMENTS

The company has total commitments under non-cancellable operating leases of £93,233 (2022: £113,733).

11.	CONTINGENT LIABILITIES

A cross guarantee is in place with a bank to secure the monies owed to it by the parent undertaking. As at the balance sheet date the amounts due to the bank by the parent undertaking was £153,241 (2022: £163,780).

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13.	ULTIMATE PARENT AND PARENT UNDERTAKING

The ultimate parent and parent undertaking is S Bass Holdings UK Limited, a company registered in England and Wales with its registered office at:

Unit 1 Little Hall Industries

Tonbridge Road

Hadlow

Tonbridge

Kent

TN11 0AH