REGISTERED NUMBER: |
HALCYON GARDENS BY GERRARD LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2023 |
REGISTERED NUMBER: |
HALCYON GARDENS BY GERRARD LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2023 |
HALCYON GARDENS BY GERRARD LIMITED (REGISTERED NUMBER: 03199960) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MAY 2023 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
HALCYON GARDENS BY GERRARD LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MAY 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
923 Finchley Road |
London |
NW11 7PE |
HALCYON GARDENS BY GERRARD LIMITED (REGISTERED NUMBER: 03199960) |
ABRIDGED STATEMENT OF FINANCIAL POSITION |
31ST MAY 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 5 |
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. |
HALCYON GARDENS BY GERRARD LIMITED (REGISTERED NUMBER: 03199960) |
ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
31ST MAY 2023 |
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 |
HALCYON GARDENS BY GERRARD LIMITED (REGISTERED NUMBER: 03199960) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MAY 2023 |
1. | STATUTORY INFORMATION |
Halcyon Gardens By Gerrard Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the invoiced value of services rendered, excluding value added tax. |
Tangible fixed assets |
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below. |
Depreciation is provided on the following basis: |
Equipment - 25% on reducing balance |
Motor vans - 25% on reducing balance |
Computer equipment - 33.33% on cost |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. |
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. |
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. |
HALCYON GARDENS BY GERRARD LIMITED (REGISTERED NUMBER: 03199960) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MAY 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
HALCYON GARDENS BY GERRARD LIMITED (REGISTERED NUMBER: 03199960) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MAY 2023 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st June 2022 |
Additions |
At 31st May 2023 |
DEPRECIATION |
At 1st June 2022 |
Charge for year |
At 31st May 2023 |
NET BOOK VALUE |
At 31st May 2023 |
At 31st May 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Totals |
£ |
COST |
At 1st June 2022 | 11,000 |
Transfer to ownership | (11,000 | ) |
At 31st May 2023 | - |
DEPRECIATION |
At 1st June 2022 | 6,359 |
Charge for year | 1,161 |
Transfer to ownership | (7,520 | ) |
At 31st May 2023 | - |
NET BOOK VALUE |
At 31st May 2023 | - |
At 31st May 2022 | 4,641 |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
6. | ULTIMATE CONTROLLING PARTY |
The company is controlled by the directors. |