Company No:
Contents
DIRECTORS | Jack Tranter (Appointed 09 November 2023) |
Roderick Owen Tranter | |
Ross Tranter (Appointed 09 November 2023) |
SECRETARY | Helen Tranter |
REGISTERED OFFICE | Halcyon House Valley Lane |
Bitteswell | |
Lutterworth | |
LE17 4SA | |
United Kingdom |
COMPANY NUMBER | 01642295 (England and Wales) |
ACCOUNTANT | Shaw Gibbs Limited |
Eagle House | |
28 Billing Road | |
Northampton | |
NN1 5AJ |
SOLICITORS | Shoosmiths |
5-7 The Lakes | |
Northampton | |
NN4 7SH |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Investment property | 4 |
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604,410 | 604,410 | |||
Current assets | ||||
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand | 7 |
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291,448 | 287,927 | |||
Creditors: amounts falling due within one year | 8 | (
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Net current liabilities | (1,388,386) | (1,393,338) | ||
Total assets less current liabilities | (783,976) | (788,928) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 9 |
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Profit and loss account | (
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Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of Halcyon Country Properties Limited (registered number:
Roderick Owen Tranter
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Halcyon Country Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Halcyon House Valley Lane, Bitteswell, Lutterworth, LE17 4SA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The company is supported financially by its parent, Pennard Commercial Services Limited. This support is seen as a long term investment and the director therefore considers that the company's accounts should be drawn up on the going concern basis, notwithstanding the deficit position shown on the balance sheet.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
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 the Profit and Loss Account as described below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Investment property | |
£ | |
Valuation | |
As at 01 January 2023 |
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As at 31 December 2023 |
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The investment property was valued at open market value as of 31 December 2023 by RO Tranter the director.
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£ | £ | ||
Work in progress |
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£ | £ | ||
Prepayments |
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£ | £ | ||
Cash at bank and in hand |
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£ | £ | ||
Trade creditors |
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Amounts owed to Group undertakings |
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Amounts owed to directors |
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Accruals |
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Other taxation and social security | (
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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