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Logo On Report
Registered Number: 04483684
England and Wales

 

 

 

HALCYON OFFICES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Halcyon Offices Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Halcyon Offices Limited for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Halcyon Offices Limited , as a body, in accordance with the terms of our engagement letter dated 07 August 2024. Our work has been undertaken solely to prepare for your approval the accounts of Halcyon Offices Limited and state those matters that we have agreed to state to the Board of Directors of Halcyon Offices Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Halcyon Offices Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Halcyon Offices Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Halcyon Offices Limited . You consider that Halcyon Offices Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Halcyon Offices Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 December 2023



....................................................
Boffix & Co Accountancy Limited
St Alban Tower
Wood Street
London
EC2V 7AF
07 August 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 11,419,185    11,428,436 
11,419,185    11,428,436 
Current assets      
Stocks 2,142    2,395 
Debtors: amounts falling due within one year 3,428,540    2,914,680 
Cash at bank and in hand 63,677    473,313 
3,494,359    3,390,388 
Creditors: amount falling due within one year (1,373,365)   (1,421,375)
Net current assets 2,120,994    1,969,013 
 
Total assets less current liabilities 13,540,179    13,397,449 
Creditors: amount falling due after more than one year (4,306,296)   (4,565,823)
Net assets 9,233,883    8,831,626 
 

Capital and reserves
     
Called up share capital 4 800    800 
Reserves 5 1,312,999    1,312,999 
Profit and loss account 7,920,084    7,517,827 
Shareholders' funds 9,233,883    8,831,626 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 07 August 2024 and were signed on its behalf by:


-------------------------------
Miles Dobson
Director
-------------------------------
James Sheppard
Director
2
General Information
Halcyon Offices Limited is a private company, limited by shares, registered in England and Wales, registration number 04483684, registration address Thorncroft Manor, Thorncroft Drive, Leatherhead, KT22 8JB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 2% Straight Line
Equipment 10% - 33% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 10% - 25% Straight Line
Computer Equipment 33% Straight Line
Investment properties
Investment properties include those portions of office buildings that are held for longterm rental yields and/or for capital appreciation and land under operating leases that is held for long-term capital appreciation or for a currently indeterminate use. Investment properties include properties that are being constructed or developed for future use as investment properties. Investment properties are initially recognised at cost and subsequently carried at fair value, determined annually by the directors of the company. Changes in fair values are recognised in profit or loss. Investment properties are subject to renovations or improvements at regular intervals. The cost of major renovations and improvements is capitalised and the carrying amounts of the replaced components are recognised in profit or loss. The cost of maintenance, repairs and minor improvements is recognised in profit or loss when incurred. On disposal of an investment property, the difference between the disposal proceeds and the carrying amount is recognised in profit or loss.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 20 (2022 : 21).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Equipment   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 January 2023 11,373,081    533,481    2,000    1,828,217    812,496    14,549,275 
Additions   11,024        4,752    15,776 
Disposals   (4,146)     (2,419)   (9,764)   (16,329)
At 31 December 2023 11,373,081    540,359    2,000    1,825,798    807,484    14,548,722 
Depreciation
At 01 January 2023   518,655    1,318    1,827,369    773,497    3,120,839 
Charge for year   5,789    500    2,074    16,355    24,718 
On disposals   (3,837)     (2,419)   (9,764)   (16,020)
At 31 December 2023   520,607    1,818    1,827,024    780,088    3,129,537 
Net book values
Closing balance as at 31 December 2023 11,373,081    19,752    182    (1,226)   27,396    11,419,185 
Opening balance as at 01 January 2023 11,373,081    14,826    682    848    38,999    11,428,436 

In respect of the Freehold land & building stated at valuation, the historical costs are as follows:

Property   Original cost
£
  Developments
£
  Fair Value Adjustment
£
  Disposals
£
  Fair Value Carrying Value
£
Thorncroft Manor 4,005,647  28,500  1,647,776  5,568,198 
Thorncroft Manor - Land 2,670,431  2,670,431 
Wesley House 1,497,257  130,977  1,366,280 
Wesley House - Land 998,171  998,171 
Castle Hill House 600,000  116,098  53,902  770,000 
9,771,506  144,598  1,832,655  11,373,080 





4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
398 Class A shares of £1.00 each 398    398 
1 Class B share of £1.00 each  
398 Class C shares of £1.00 each 398    398 
1 Class D share of £1.00 each  
2 Class E & F shares of £1.00 each  
800    800 

3