Accounts filed on 30-06-2018


Registered number: 02621718






Halstone Finance Limited


ACCOUNTS

FOR THE YEAR ENDED 30/06/2018
























Prepared By:
GT Accountants Limited
Chartered Certified Accountants
Unit 7, The Court House
72 Moorland Road, Burslem
Stoke-on-Trent
Staffordshire
ST6 1DY


ACCOUNTS
FOR THE YEAR ENDED 30/06/2018





DIRECTORS
Ian Hall
Christine Hall
Janet Brady
Timothy Stubbs



SECRETARY
Christine Hall


REGISTERED OFFICE
Unit 4, Brock Way
Knutton
Newcastle-under-Lyme
Staffordshire
ST5 6AZ


COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 02621718



BANKERS
National Westminster Bank plc



SOLICITORS
Lichfield Reynolds



ACCOUNTANTS
GT Accountants Limited
Chartered Certified Accountants
Unit 7, The Court House
72 Moorland Road, Burslem
Stoke-on-Trent
Staffordshire
ST6 1DY


BALANCE SHEET AT 30/06/2018

			2018		2017
	Notes		£		£

FIXED ASSETS
Tangible assets	3		97,078		300,579

CURRENT ASSETS
Stock		116,887		102,453
Debtors	6	596,944		650,408
Cash at bank and in hand		775,533		577,053
		1,489,364		1,329,914
CREDITORS: Amounts falling due within one year	7	692,630		803,858
NET CURRENT ASSETS			796,734		526,056
TOTAL ASSETS LESS CURRENT LIABILITIES			893,812		826,635



NET ASSETS			893,812		826,635

CAPITAL AND RESERVES

Called up share capital	9		9,702		9,702
Profit and loss account			884,110		816,933
SHAREHOLDERS' FUNDS			893,812		826,635

For the year ending 30/06/2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.

Approved by the board on 08/11/2018 and signed on their behalf by



.............................
Ian Hall
Director

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .




1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and Fittings		straight line 3 - 5 years%
Motor Cars		reducing balance 25%




1c. Investment Properties
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the FRS 102 section 1A. This departure from Companies Act requirements is necessary to show a true and fair view.




1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.




1e. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.




1f. Foreign Currency
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated.




1g. Leasing Commitments
Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the term of the lease.
Incentives received to enter into a lease agreement are recognised in the profit and loss account over the shorter of the lease term and the period to the next lease review.




6. DEBTORS	2018	2017
	£	£
Amounts falling due within one year
Trade debtors	550,212	598,363
Other debtors	-	5,000
Amounts due from group companies	10,000	10,000
Prepayments	28,667	25,551
Directors current account	-	7,882
Deferred taxation	8,065	3,612
	596,944	650,408




7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2018	2017
	£	£
UK corporation tax	28,067	9,893
VAT	142,509	154,143
Trade creditors	439,442	536,941
Accruals	73,710	97,372
Amounts due to group companies	8,902	5,509
	692,630	803,858




9. SHARE CAPITAL	2018	2017
	£	£
Allotted, issued and fully paid:
9,324 Ordinary shares of £1 each	9,324	9,324
378 Class B shares of £1 each	378	378
	9,702	9,702




10. OTHER FINANCIAL COMMITMENTS
At 30/06/2018 the company was committed to making the following payments under non-cancellable operating leases:

	2018	2017
	£	£
Operating Leases which expire:
Within two to five years	166,667	-
After 5 years	-	206,667




11. RELATED PARTY TRANSACTIONS
During the year Halstone (UK) Holdings Limited charged rent amounting to £40,000 and a management charge amounting to £72,000 to Halstone Finance Limited. Halstone Finance Limited also paid dividends of £20,000 to Halstone (UK) Holdings Limited. At 30 June 2018 this company owed Halstone (UK) Holdings Limited £8,902 (2017 - £5,698).
During the year there were no movements on the loan to Halstone Technology Limited. The balance owed by Halstone Technology Limited at 30 June 2018 and 30 June 2018 was £10,000.