S. Halpern Ltd - Accounts to registrar (filleted) - small 23.2.5
S. Halpern Ltd - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 29 June 2023 |
| for |
| S. Halpern Ltd |
| S. Halpern Ltd (Registered number: 04771053) |
| Contents of the Financial Statements |
| for the Year Ended 29 June 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| S. Halpern Ltd |
| Company Information |
| for the Year Ended 29 June 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Reedham House |
| 31 King Street West |
| Manchester |
| M3 2PJ |
| S. Halpern Ltd (Registered number: 04771053) |
| Balance Sheet |
| 29 June 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| S. Halpern Ltd (Registered number: 04771053) |
| Balance Sheet - continued |
| 29 June 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| S. Halpern Ltd (Registered number: 04771053) |
| Notes to the Financial Statements |
| for the Year Ended 29 June 2023 |
| 1. | STATUTORY INFORMATION |
| S. Halpern Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Tangible fixed assets are initially recorded at cost less any tax, discounts and rebates. Subsequently they are recorded at cost less accumulated depreciation and impairment. |
| 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 year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| S. Halpern Ltd (Registered number: 04771053) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 June 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Going concern |
| The company's financial statements for the year ended 29 June 2023 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 30 June 2022 |
| and 29 June 2023 |
| AMORTISATION |
| At 30 June 2022 |
| and 29 June 2023 |
| NET BOOK VALUE |
| At 29 June 2023 |
| At 29 June 2022 |
| S. Halpern Ltd (Registered number: 04771053) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 June 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and |
| property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 30 June 2022 |
| Additions |
| At 29 June 2023 |
| DEPRECIATION |
| At 30 June 2022 |
| Charge for year |
| At 29 June 2023 |
| NET BOOK VALUE |
| At 29 June 2023 |
| At 29 June 2022 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| S. Halpern Ltd (Registered number: 04771053) |
| Notes to the Financial Statements - continued |
| for the Year Ended 29 June 2023 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 29 June 2023 and 29 June 2022: |
| 2023 | 2022 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| The company has guaranteed upto a maximum £875,000 in respect of a bank loan extended to its directors, Mr D Salzman and Mrs R Salzman. At 29th June 2023, the balance outstanding was £269,941.The loan relates to the property that is occupied by the company. |
| 11. | RELATED PARTY DISCLOSURES |
| Included within other creditors is the directors' current account balance of £54,747 (2022: £34,844).There are no fixed repayment terms and no interest is chargeable to the company in respect of these balances. |
| Included within other creditors is a balance amounting to £1,122,285 (2022: £1,073,493) due to companies in which certain directors of the company are also directors and shareholders. There are no fixed repayment terms and no interest is chargeable to the company in respect of this balance. |
| Included within other debtors is a balance amounting to £705,920 (2022: £824,286) due from companies in which certain directors of the company are also directors and shareholders. There are no fixed repayment terms and no interest is chargeable by the company in respect of this balance. |
| Included within other debtors is a balance amounting to £19,949 (2022: £15,549) due from a pension scheme in which certain directors of the company are trustees and beneficiaries. There are no fixed repayment terms and no interest is chargeable to the company in respect of this balance. |
| The company's bank overdraft facility is personally guaranteed by the directors, Mr D Salzman and Mrs R Salzman. |