Housing Assets Land and Organisation (HALO) Limited Small abbreviated accounts

HOUSING ASSETS LAND AND ORGANISATION (HALO) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER 08376916

HOUSING ASSETS LAND AND ORGANISATION (HALO) LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

31 January 2016

HOUSING ASSETS LAND AND ORGANISATION (HALO)

LIMITED

ABBREVIATED BALANCE SHEET

31 January 2016

	2016	2015
Note	£	£	£
FIXED ASSETS	2
Tangible assets		1,401	245
		-------	----

CURRENT ASSETS

Debtors	31,187		31,311
Cash at bank and in hand	43,144		6,936
	---------		---------
	74,331		38,247
CREDITORS: Amounts falling due within one year	14,241		13,054
	---------		---------
NET CURRENT ASSETS		60,090	25,193
		---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES		61,491	25,438

PROVISIONS FOR LIABILITIES	280	49
	---------	---------
	61,211	25,389
	---------	---------

CAPITAL AND RESERVES

Called up equity share capital	4		100	100
Profit and loss account		61,111	25,289
		---------	---------
SHAREHOLDERS' FUNDS		61,211	25,389
		---------	---------

For the year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved and signed by the director and authorised for issue on 25 October 2016 .

Mr P V Casey Director

Company Registration Number: 08376916

HOUSING ASSETS LAND AND ORGANISATION (HALO)

LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31 JANUARY 2016

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents amounts receivable for services provided during the year. Amounts receivable for services performed over time are based upon the stage of completion of the services performed.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Computer equipment-25% reducing balance basis

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Financial instruments

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.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2. FIXED ASSETS

	Tangible Assets
	£

COST

At 1 February 2015	550
Additions	1,283
	-------
At 31 January 2016	1,833
	-------

DEPRECIATION

At 1 February 2015	305
Charge for year	127
	----
At 31 January 2016	432
	----

NET BOOK VALUE

At 31 January 2016	1,401
	-------

At 31 January 2015	245
	-------

3. RELATED PARTY TRANSACTIONS

The company was under the control of the director, Mr P V Casey , throughout the current and previous year by virtue of his interest in 100% of the company's issued share capital. Included in creditors is loan from the director amounting to £nil (2015 - £676). Included in debtors is a loan to the director amounting to £27,766 (2015 - £nil). The maximum outstanding during the year was £34,653 (2015 - £nil). Interest is charged at a rate of 3% per annum. This is repayable on demand. The director received dividends amounting to £18,750 (2015 - £22,000) during the year.

4. SHARE CAPITAL

Allotted, called up and fully paid:

2016	2015
No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----