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REGISTERED NUMBER: 03017402 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

HALCYON INTERNATIONAL GROUP LIMITED

HALCYON INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 03017402)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HALCYON INTERNATIONAL GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: T A Farana





SECRETARY: Ms S Prasad





REGISTERED OFFICE: The Old Fire Station
69 Albion Street
Birmingham
West Midlands
B1 3EA





REGISTERED NUMBER: 03017402 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
161 Newhall Street
Birmingham
B3 1SW

HALCYON INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 03017402)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,578,963 1,571,525
Investments 5 850,362 850,362
2,429,325 2,421,887

CURRENT ASSETS
Debtors 6 243,834 258,924
Cash at bank and in hand 14,694 125,809
258,528 384,733
CREDITORS
Amounts falling due within one year 7 1,631,242 941,557
NET CURRENT LIABILITIES (1,372,714 ) (556,824 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,056,611

1,865,063

CREDITORS
Amounts falling due after more than one
year

8

480,727

1,230,357
NET ASSETS 575,884 634,706

CAPITAL AND RESERVES
Called up share capital 198,707 198,707
Capital redemption reserve 37,739 37,739
Retained earnings 339,438 398,260
SHAREHOLDERS' FUNDS 575,884 634,706

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HALCYON INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 03017402)

BALANCE SHEET - continued
31 MARCH 2023


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 director and authorised for issue on 21 November 2023 and were signed by:





T A Farana - Director


HALCYON INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 03017402)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Halcyon International Group 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.

Preparation of consolidated financial statements
The financial statements contain information about Halcyon International Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold properties - 2% on reducing balance
Improvements to property - 4% on cost
Office equipment - 33.33% on reducing balance
Fixtures and fittings - 33.33% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


HALCYON INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 03017402)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Investments
Investments held as fixed assets are shown as cost less provision for impairment.

Investment property
Investment properties are included in the Balance Sheet at their open market value and are not depreciated.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

For financial assets carried at amortised costs, the amount of an impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for the decrease in impairment loss, and the decrease can be related objectively to an event occuring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

HALCYON INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 03017402)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Office
properties property equipment
£    £    £   
COST
At 1 April 2022 1,018,115 1,608,251 508,597
Additions - 84,808 40,295
At 31 March 2023 1,018,115 1,693,059 548,892
DEPRECIATION
At 1 April 2022 348,085 786,267 476,862
Charge for year 20,362 67,722 16,074
At 31 March 2023 368,447 853,989 492,936
NET BOOK VALUE
At 31 March 2023 649,668 839,070 55,956
At 31 March 2022 670,030 821,984 31,735

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2022 338,549 105,608 3,579,120
Additions - - 125,103
At 31 March 2023 338,549 105,608 3,704,223
DEPRECIATION
At 1 April 2022 319,711 76,670 2,007,595
Charge for year 6,273 7,234 117,665
At 31 March 2023 325,984 83,904 2,125,260
NET BOOK VALUE
At 31 March 2023 12,565 21,704 1,578,963
At 31 March 2022 18,838 28,938 1,571,525

HALCYON INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 03017402)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 88,400
Transfer to ownership (88,400 )
At 31 March 2023 -
DEPRECIATION
At 1 April 2022 60,430
Charge for year 6,992
Transfer to ownership (67,422 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 27,970

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 850,362
NET BOOK VALUE
At 31 March 2023 850,362
At 31 March 2022 850,362

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 1,485 1,000
Other debtors 242,349 257,924
243,834 258,924

HALCYON INTERNATIONAL GROUP LIMITED (REGISTERED NUMBER: 03017402)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 82,500 82,500
Hire purchase contracts - 5,759
Trade creditors 114,649 149,270
Amounts owed to group undertakings 1,409,071 680,655
Taxation and social security 7,377 7,146
Other creditors 17,645 16,227
1,631,242 941,557

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 127 113,284
Hire purchase contracts - 36,473
Amounts owed to group undertakings - 600,000
Other creditors 480,600 480,600
480,727 1,230,357

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 82,627 195,784
Hire purchase contracts - 42,232
Other creditors 480,600 480,600
563,227 718,616

Bank loans are secured by way of a fixed and floating charge over all present and future property and assets of the company.

Hire purchase contracts are secured by the asset to which they relate.

Other loans are secured by way of a charge over 69 Albion Street, Birmingham, B1 3EA.