Halo Photonics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05485368 (England and Wales)

Unaudited Financial Statements

for the Period 1 July 2020 to 31 December 2020

for

Halo Photonics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A H Boyd

M Le Flohic

REGISTERED OFFICE:

Unit 2 Bank Farm Offices

Brockamin

Leigh

Worcester

WR6 5LA

REGISTERED NUMBER:

05485368 (England and Wales)

ACCOUNTANTS:

Boyds Accountants

20 Sansome Walk

Worcester

Worcestershire

WR1 1LR

CURRENT ASSETS

Stocks

202,409

288,651

Debtors

4

1,571,575

1,438,101

Cash at bank

1,625,589

275,029

3,399,573

2,001,781

CREDITORS

Amounts falling due within one year

5

753,756

112,044

NET CURRENT ASSETS

2,645,817

1,889,737

TOTAL ASSETS LESS CURRENT LIABILITIES

2,645,817

1,889,737

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,645,717

1,889,637

SHAREHOLDERS' FUNDS

2,645,817

1,889,737

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2020 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 and authorised for issue on 25 January 2021 and were signed on its behalf by:

A H Boyd - Director

M Le Flohic - Director

1.	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.

Related party exemption

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

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

Taxation

Taxation for the period 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 period 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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2020 - 7 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 July 2020

74,444

Disposals

(74,444

)

At 31 December 2020

-

DEPRECIATION

At 1 July 2020

74,444

Eliminated on disposal

(74,444

)

At 31 December 2020

-

NET BOOK VALUE

At 31 December 2020

-

At 30 June 2020

-

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

30.6.20

£

£

Trade debtors

1,437,407

1,113,971

Amounts owed by group undertakings

33,511

-

Tax

79,895

257,718

VAT

17,611

61,331

Prepayments

3,151

5,081

1,571,575

1,438,101

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

30.6.20

£

£

Trade creditors

25,714

92,427

Amounts owed to group undertakings

713,714

-

Social security and other taxes

3,956

1,344

Accrued expenses

10,372

18,273

753,756

112,044

6.	RELATED PARTY DISCLOSURES

The controlling party is The Lumibird Group (Paris Stock Exchange).