Halofit Limited - Accounts to registrar (filleted) - small 18.2

Halofit Limited - Accounts to registrar (filleted) - small 18.2

HALOFIT LIMITED - Company Information

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REGISTERED NUMBER: 10545991 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 January 2019

for

Halofit Limited
Halofit Limited (Registered number: 10545991)






Contents of the Financial Statements
for the Year Ended 31 January 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Halofit Limited

Company Information
for the Year Ended 31 January 2019







DIRECTORS: S Grahn
P M Romaine
Mrs R Sheikh





REGISTERED OFFICE: Unit 2 Brickfields Business Park
Old Stowmarket Road
Woolpit
Bury St Edmunds
Suffolk
IP30 9QS





REGISTERED NUMBER: 10545991 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR
Page 1
Halofit Limited (Registered number: 10545991)

Balance Sheet
31 January 2019

2019 2018
Notes £    £   
CURRENT ASSETS
Stocks 30,991 30,991
Debtors 4 - 3,503
Cash at bank 1,104 1,821
32,095 36,315
CREDITORS
Amounts falling due within one year 5 53,524 37,281
NET CURRENT LIABILITIES (21,429 ) (966 )
TOTAL ASSETS LESS CURRENT LIABILITIES (21,429 ) (966 )

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings (21,529 ) (1,066 )
SHAREHOLDERS' FUNDS (21,429 ) (966 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 November 2019 and were signed on its behalf
by:



Mrs R Sheikh - Director



P M Romaine - Director


The notes form part of these financial statements

Page 2
Halofit Limited (Registered number: 10545991)

Notes to the Financial Statements
for the Year Ended 31 January 2019

1. STATUTORY INFORMATION

Halofit Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

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


2. ACCOUNTING POLICIES

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

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Going concern
Having discussed the projected results and cash flow of the company, the directors continue to support the
company in order that the cash demands can be met. Whilst there is always considerable uncertainty in
predicting cash flows more than a few months into the future, the directors are confident that the cash
demands of the company will be satisfied, and it is therefore appropriate to prepare the financial statements
on the going concern basis.

Page 3 continued...
Halofit Limited (Registered number: 10545991)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2019

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Other debtors - 3,503

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 1,200 5,340
Other creditors 52,324 31,941
53,524 37,281

There are amounts owed to company's in common control of the shareholders included within other creditors
amounting to £50,648 (2018 - £31,528).

6. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2019 2018
value: £    £   
100 Ordinary £1 100 100

Page 4