IRIS Accounts Production v24.1.0.578 04347865 director 1.3.22 28.2.23 28.2.23 Since the company's trade was transferred to its parent company, Sabrina Health Care Limited on the 1st March 2009, the company has been dormant. Up to March 2018 the company did still hold the payroll registration and the staff were therefore paid by Hexon Limited and recharged to the parent company. 0 0 true false true true false false false true false 0 0 Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh043478652022-02-28043478652023-02-28043478652022-03-012023-02-28043478652021-02-28043478652021-03-012022-02-28043478652022-02-2804347865ns15:EnglandWales2022-03-012023-02-2804347865ns14:PoundSterling2022-03-012023-02-2804347865ns10:Director12022-03-012023-02-2804347865ns10:PrivateLimitedCompanyLtd2022-03-012023-02-2804347865ns10:FRS1022022-03-012023-02-2804347865ns10:Audited2022-03-012023-02-2804347865ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2022-03-012023-02-2804347865ns10:LargeMedium-sizedCompaniesRegimeForAccounts2022-03-012023-02-2804347865ns10:FullAccounts2022-03-012023-02-280434786512022-03-012023-02-2804347865ns10:OrdinaryShareClass12022-03-012023-02-2804347865ns10:RegisteredOffice2022-03-012023-02-2804347865ns5:CurrentFinancialInstruments2023-02-2804347865ns5:CurrentFinancialInstruments2022-02-2804347865ns5:ShareCapital2023-02-2804347865ns5:ShareCapital2022-02-2804347865ns5:RevaluationReserve2023-02-2804347865ns5:RevaluationReserve2022-02-2804347865ns5:RetainedEarningsAccumulatedLosses2023-02-2804347865ns5:RetainedEarningsAccumulatedLosses2022-02-2804347865ns5:ShareCapital2021-02-2804347865ns5:RetainedEarningsAccumulatedLosses2021-02-2804347865ns5:RevaluationReserve2021-02-2804347865ns5:RetainedEarningsAccumulatedLosses2021-03-012022-02-2804347865ns5:RevaluationReserve2021-03-012022-02-2804347865ns5:RetainedEarningsAccumulatedLosses2022-03-012023-02-2804347865ns5:RevaluationReserve2022-03-012023-02-2804347865ns5:NetGoodwill2022-03-012023-02-2804347865ns5:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2804347865ns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-03-012023-02-2804347865ns5:FurnitureFittings2022-03-012023-02-2804347865ns5:OwnedAssets2022-03-012023-02-2804347865ns5:OwnedAssets2021-03-012022-02-2804347865ns5:NetGoodwill2021-03-012022-02-2804347865ns5:NetGoodwill2022-02-2804347865ns5:NetGoodwill2023-02-2804347865ns5:NetGoodwill2022-02-2804347865ns5:LandBuildings2022-02-2804347865ns5:FurnitureFittings2022-02-2804347865ns5:LandBuildings2022-03-012023-02-2804347865ns5:LandBuildings2023-02-2804347865ns5:FurnitureFittings2023-02-2804347865ns5:LandBuildings2022-02-2804347865ns5:FurnitureFittings2022-02-2804347865ns5:DeferredTaxation2022-02-2804347865ns5:DeferredTaxation2022-03-012023-02-2804347865ns5:DeferredTaxation2023-02-2804347865ns10:OrdinaryShareClass12023-02-2804347865ns5:RetainedEarningsAccumulatedLosses2022-02-2804347865ns5:RevaluationReserve2022-02-28
REGISTERED NUMBER: 04347865 (England and Wales)
























STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

HEXON LIMITED

HEXON LIMITED (REGISTERED NUMBER: 04347865)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 28 February 2023










Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Notes to the Financial Statements 10


HEXON LIMITED

COMPANY INFORMATION
For The Year Ended 28 February 2023







DIRECTOR: Mr T Seeneevassen





REGISTERED OFFICE: 5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU





REGISTERED NUMBER: 04347865 (England and Wales)





AUDITORS: Fortus Audit LLP
Chartered Accountants & Statutory Auditors
5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU

HEXON LIMITED (REGISTERED NUMBER: 04347865)

STRATEGIC REPORT
For The Year Ended 28 February 2023


The director presents his strategic report for the year ended 28 February 2023.

REVIEW OF BUSINESS
The company's loss for the year amounted to £138,601 (2022 - £143,782) as a result of depreciation charges.

PRINCIPAL RISKS AND UNCERTAINTIES AND KEY PERFORMANCE INDICATORS
The company's activities mean it is not directly exposed to financial or operating risks and there are no performance indicators which would give an indication of the performance and position of the company's business.

ON BEHALF OF THE BOARD:





Mr T Seeneevassen - Director


30 April 2024

HEXON LIMITED (REGISTERED NUMBER: 04347865)

REPORT OF THE DIRECTOR
For The Year Ended 28 February 2023


The director presents his report with the financial statements of the company for the year ended 28 February 2023.

DIVIDENDS
No dividends will be distributed for the year ended 28 February 2023.

DIRECTOR
Mr T Seeneevassen held office during the whole of the period from 1 March 2022 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Fortus Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr T Seeneevassen - Director


30 April 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HEXON LIMITED


Opinion
We have audited the financial statements of Hexon Limited (the 'company') for the year ended 28 February 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 28 February 2023 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HEXON LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HEXON LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (UK GAAP and the Companies Act 2006) and the relevant tax compliance regulations in the UK.

We understood how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through review of board minutes and discussions with those charged with governance.

We assessed the susceptibility of the company’s financial statements to material misstatement, including how fraud might occur, by discussion with management from various parts of the business to understand where they considered there was a susceptibility to fraud. We considered the procedures and controls that the company has established to prevent and detect fraud, and how these are monitored by management, and also any enhanced risk factors such as performance targets.

Based on our understanding, we designed our audit procedures to identify any non-compliance with laws and regulations identified in the paragraphs above.

We also performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Frances Howard FCA (Senior Statutory Auditor)
for and on behalf of Fortus Audit LLP
Chartered Accountants & Statutory Auditors
5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU

30 April 2024

HEXON LIMITED (REGISTERED NUMBER: 04347865)

STATEMENT OF COMPREHENSIVE
INCOME
For The Year Ended 28 February 2023

2023 2022
Notes £    £   

TURNOVER - -

Administrative expenses 138,601 143,782
OPERATING LOSS and
LOSS BEFORE TAXATION (138,601 ) (143,782 )

Tax on loss 5 55,716 (25,935 )
LOSS FOR THE FINANCIAL YEAR (194,317 ) (117,847 )

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

(194,317

)

(117,847

)

HEXON LIMITED (REGISTERED NUMBER: 04347865)

BALANCE SHEET
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 - -
Tangible assets 7 5,616,729 5,755,330
5,616,729 5,755,330

CREDITORS
Amounts falling due within one year 8 2,878,301 2,878,301
NET CURRENT LIABILITIES (2,878,301 ) (2,878,301 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,738,428 2,877,029

PROVISIONS FOR LIABILITIES 9 340,214 284,498
NET ASSETS 2,398,214 2,592,531

CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 11 2,890,476 3,024,989
Retained earnings 11 (492,264 ) (432,460 )
SHAREHOLDERS' FUNDS 2,398,214 2,592,531

The financial statements were approved by the director and authorised for issue on 30 April 2024 and were signed by:





Mr T Seeneevassen - Director


HEXON LIMITED (REGISTERED NUMBER: 04347865)

STATEMENT OF CHANGES IN EQUITY
For The Year Ended 28 February 2023

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 March 2021 2 (367,475 ) 3,077,851 2,710,378

Changes in equity
Total comprehensive income - (64,985 ) (52,862 ) (117,847 )
Balance at 28 February 2022 2 (432,460 ) 3,024,989 2,592,531

Changes in equity
Total comprehensive income - (59,804 ) (134,513 ) (194,317 )
Balance at 28 February 2023 2 (492,264 ) 2,890,476 2,398,214

HEXON LIMITED (REGISTERED NUMBER: 04347865)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 28 February 2023


1. STATUTORY INFORMATION

Hexon 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Land 0%, buildings 4% on cost
Fixtures and fittings - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

HEXON LIMITED (REGISTERED NUMBER: 04347865)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 February 2023


2. ACCOUNTING POLICIES - continued

Going concern
The director has prepared the financial statements on the going concern basis.

The company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Strategic Report. The company has sufficient financial resources together with long-term relationships with key stakeholders and, as a consequence, the director believes that the company is well placed to manage its business risks successfully.

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 28 February 2023 nor for the year ended 28 February 2022.

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

2023 2022
£    £   
Director's remuneration - -

4. OPERATING LOSS

The operating loss is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 138,601 138,971
Goodwill amortisation - 4,811

5. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the loss for the year was as follows:
2023 2022
£    £   
Deferred tax 55,716 (25,935 )
Tax on loss 55,716 (25,935 )

HEXON LIMITED (REGISTERED NUMBER: 04347865)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 February 2023


5. TAXATION - continued

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Loss before tax (138,601 ) (143,782 )
Loss multiplied by the standard rate of corporation tax in the UK of
19% (2022 - 19%)

(26,334

)

(27,319

)

Effects of:
Expenses not deductible for tax purposes 26,334 27,319
Capital allowances in excess of depreciation (25,935 ) (25,935 )
Deferred tax charge due to increase in tax rate 81,651 -
Total tax charge/(credit) 55,716 (25,935 )

Factors that may affect future tax charges
The Finance Act 2021 was substantively enacted in May 2021 and has increased the corporation tax rate from 19% to 25% with effect from 1 April 2023. The deferred taxation balances have been measured using the rates expected to apply in the reporting periods when the timing differences reverse.

6. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 96,250
AMORTISATION
At 1 March 2022
and 28 February 2023 96,250
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

HEXON LIMITED (REGISTERED NUMBER: 04347865)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 February 2023


7. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 March 2022
and 28 February 2023 6,825,135 218,614 7,043,749
DEPRECIATION
At 1 March 2022 1,083,792 204,627 1,288,419
Charge for year 136,502 2,099 138,601
At 28 February 2023 1,220,294 206,726 1,427,020
NET BOOK VALUE
At 28 February 2023 5,604,841 11,888 5,616,729
At 28 February 2022 5,741,343 13,987 5,755,330

All of the properties were last revalued on the 25th November 2014 by Edward Symmons LLP independent chartered surveyors. Upon transition to FRS102, this was taken to be deemed cost.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 2,878,301 2,878,301

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 340,214 284,498

Deferred
tax
£   
Balance at 1 March 2022 284,498
Provided during year 55,716
Balance at 28 February 2023 340,214

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary 1 2 2

HEXON LIMITED (REGISTERED NUMBER: 04347865)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 February 2023


11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2022 (432,460 ) 3,024,989 2,592,529
Deficit for the year (194,317 ) (194,317 )
Deferred tax movement 55,716 (55,716 ) -
Depreciation movement 78,797 (78,797 ) -
At 28 February 2023 (492,264 ) 2,890,476 2,398,212

12. CONTINGENT LIABILITIES

The company is party to a cross-company guarantee with its parent undertaking, Sabrina Healthcare Limited, over borrowings initially taken out for the purchase of the company's shares by its parent. As part of this cross-company guarantee arrangement, the company has given as security a first legal charge over its freehold land and buildings.

13. RELATED PARTY DISCLOSURES

Included with creditors falling due after more than one year is £2,878,301 owed to the parent company, Sabrina Health Care Limited.

14. ULTIMATE CONTROLLING PARTY

Sabrina Health Care Limited is the company's controlling party by virtue of its 100 per cent beneficial interest in the company. The company is incorporated in England and Wales and is registered at 5&6 Manor Court, Manor Garth, Scarborough, North Yorkshire, YO11 3TU.

Copies of the Sabrina Health Care Limited financial statements can be obtained from their registered office at 5&6 Manor Court, Manor Garth, Scarborough, North Yorkshire, YO11 3TU.