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REGISTERED NUMBER: 08968867 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD 1 JULY 2022 TO 29 JUNE 2023

FOR

Halcyon Living Limited
Group Accounts

Halcyon Living Limited
Group Accounts (Registered number: 08968867)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
for the Period 1 July 2022 to 29 June 2023




Page

Company information 1

Group strategic report 2

Report of the directors 3

Report of the independent auditors 5

Consolidated income statement 9

Consolidated other comprehensive income 10

Consolidated balance sheet 11

Company balance sheet 12

Consolidated statement of changes in equity 13

Company statement of changes in equity 14

Consolidated cash flow statement 15

Notes to the consolidated cash flow statement 16

Notes to the consolidated financial statements 18


Halcyon Living Limited
Group Accounts

COMPANY INFORMATION
for the Period 1 July 2022 to 29 June 2023







DIRECTORS: Z A Pradhan
N Pradhan



REGISTERED OFFICE: C/O Mcak & Co
No15, 1st Floor, Princeton Mews
167-169 London Road,
Kingston Upon Thames
Surrey
KT2 6PT



REGISTERED NUMBER: 08968867 (England and Wales)



SENIOR STATUTORY AUDITOR: Rocky Bharj F.C.C.A.



INDEPENDENT AUDITORS: TAXAUDIT ACCOUNTANTS LTD
Chartered Certified Accountants
Registered Auditors
170 Church Road,
Mitchem
CR4 3BW

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

GROUP STRATEGIC REPORT
for the Period 1 July 2022 to 29 June 2023

The directors present their strategic report of the company and the group for the period 1 July 2022 to 29 June 2023.

REVIEW OF BUSINESS
The Group is committed to providing the highest quality nursing care. The group has been able to maintain it's occupancies by offering well run care homes.

The results and the position of the group are shown in the financial statements. The results at the end of the year and the level of business during the year were satisfactory and the director's expect to maintain the level of activity for the foreseeable future.

The directors are not aware of any major changes in the group's principal activities in the year ahead.
£ £
Turnover 7,869,133 6,989,868
Profit before taxation 1,264,883 1,379,112
Gross profit 3,201,111 2,631,554
Gross profit percentage 40.7% 37.6%

The directors are confident that the company has sufficient funds to finance the anticipated levels of activity.
There have been no events since the balance sheet date that materially affect the financial position of the
company.

ON BEHALF OF THE BOARD:





Z A Pradhan - Director


2 December 2024

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

REPORT OF THE DIRECTORS
for the Period 1 July 2022 to 29 June 2023

The directors present their report with the financial statements of the company and the group for the period 1 July 2022 to 29 June 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the period under review was that of owning and operating nursing homes.

DIVIDENDS
No interim dividend was paid during the period. The directors recommend a final dividend of 160,000 per share.

The total distribution of dividends for the period ended 29 June 2023 will be £ 160,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

Z A Pradhan
N Pradhan

CHARITABLE DONATIONS
During the year company made a donation of £12,000 to Aga Khan Foundation (UK), a charity registered in U.K.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group strategic report, the Report of the directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are 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 directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group 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 directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director 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 group's auditors are aware of that information.

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

REPORT OF THE DIRECTORS
for the Period 1 July 2022 to 29 June 2023


AUDITORS
The auditors, TAXAUDIT ACCOUNTANTS LTD, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Z A Pradhan - Director


2 December 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HALCYON LIVING LIMITED
GROUP ACCOUNTS

Opinion
We have audited the financial statements of Halcyon Living Limited Group Accounts (the 'parent company') and its subsidiaries (the 'group') for the period ended 29 June 2023 which comprise the Consolidated income statement, Consolidated other comprehensive income, Consolidated balance sheet, Company balance sheet, Consolidated statement of changes in equity, Company statement of changes in equity, Consolidated cash flow statement and Notes to the consolidated cash flow statement, 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 group's and of the parent company affairs as at 29 June 2023 and of the group's profit for the period 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 group 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 directors' 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 group's and the parent 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 directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group strategic report and the Report of the directors, 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 Group strategic report and the Report of the directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group strategic report and the Report of the directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HALCYON LIVING LIMITED
GROUP ACCOUNTS


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

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of directors' responsibilities set out on page three, the directors are 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 directors determine 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 directors are responsible for assessing the group's and the parent 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 directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HALCYON LIVING LIMITED
GROUP ACCOUNTS


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.

rregularities, 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: As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud. In particular, we looked at where management made subjective judgements, for example in respect of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. We also considered potential financial or other pressures, opportunity and motivations for fraud. As part of this discussion we identified the internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations and how management monitor these processes. Appropriate procedures included the review and testing of manual journals and key estimates and judgements made by management. We gained an understanding of the legal and regulatory framework applicable to the Union and the industry in which it operates, drawing on our broad sector experience, and considered the risk of acts by the Union that were contrary to these laws and regulations, including fraud. We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Trade Union and Labour Relations (Consolidation) Act 1992, UK tax legislation and equivalent local laws and regulations. We made enquiries of management with regards to compliance with the above laws and regulations and corroborated any necessary evidence to relevant information, for example, minutes of the Central Executive Council meetings, minutes of regional meetings held, legal reports provided to the Central Executive Council and correspondence between the Union and its solicitors. We completed a sample of branch audit reviews with a focus on the income, expenditure and cash balances throughout the period to ensure that activities were supported and in line with Union rules and practices. Any unusual findings were raised with the regional secretaries for further investigation. Our tests included agreeing the financial statements disclosures to underlying supporting documentation and enquiries with management. We did not identify any key audit matters relating to irregularities, including fraud. As in all of our audits, we also addressed the risk of management override of internal controls including testing journals and evaluation whether there was evidence of bias by the Central Executive Council that represented a risk of material misstatement due to fraud. Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognizing that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councils website at: www.frc.org.uk/auditors responsibilities. This description forms part of our auditor’s report.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HALCYON LIVING LIMITED
GROUP ACCOUNTS


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.




Rocky Bharj F.C.C.A. (Senior Statutory Auditor)
for and on behalf of TAXAUDIT ACCOUNTANTS LTD
Chartered Certified Accountants
Registered Auditors
170 Church Road,
Mitchem
CR4 3BW

2 December 2024

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

CONSOLIDATED INCOME STATEMENT
for the Period 1 July 2022 to 29 June 2023

Period
1.7.22
to Year Ended
29.6.23 30.6.22
Notes £    £   

TURNOVER 7,869,133 6,989,868

Cost of sales 4,668,022 4,358,314
GROSS PROFIT 3,201,111 2,631,554

Administrative expenses 1,802,005 1,617,532
1,399,106 1,014,022

Other operating income 143,502 519,212
OPERATING PROFIT 4 1,542,608 1,533,234

Interest receivable and similar income 739 1,094
1,543,347 1,534,328

Interest payable and similar expenses 5 278,464 155,216
PROFIT BEFORE TAXATION 1,264,883 1,379,112

Tax on profit 6 284,539 263,660
PROFIT FOR THE FINANCIAL PERIOD 980,344 1,115,452
Profit attributable to:
Owners of the parent 980,344 1,115,452

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
for the Period 1 July 2022 to 29 June 2023

Period
1.7.22
to Year Ended
29.6.23 30.6.22
Notes £    £   

PROFIT FOR THE PERIOD 980,344 1,115,452


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

980,344

1,115,452

Total comprehensive income attributable to:
Owners of the parent 980,344 1,115,452

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

CONSOLIDATED BALANCE SHEET
29 June 2023

29.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 5,882,591 5,882,591
Tangible assets 10 4,408,688 4,360,139
Investments 11 50,000 -
Investment property 12 684,908 508,392
11,026,187 10,751,122

CURRENT ASSETS
Debtors 13 3,196,061 3,269,889
Cash at bank and in hand 661,548 365,295
3,857,609 3,635,184
CREDITORS
Amounts falling due within one year 14 5,138,596 4,476,423
NET CURRENT LIABILITIES (1,280,987 ) (841,239 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,745,200

9,909,883

CREDITORS
Amounts falling due after more than one
year

15

5,419,085

6,404,112
NET ASSETS 4,326,115 3,505,771

CAPITAL AND RESERVES
Called up share capital 18 1,000 1,000
Retained earnings 19 4,325,115 3,504,771
SHAREHOLDERS' FUNDS 4,326,115 3,505,771

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by:





Z A Pradhan - Director


Halcyon Living Limited
Group Accounts (Registered number: 08968867)

COMPANY BALANCE SHEET
29 June 2023

29.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 1,195,069 1,166,830
Investments 11 6,650,548 6,650,548
Investment property 12 145,464 145,464
7,991,081 7,962,842

CURRENT ASSETS
Debtors 13 183,745 176,774
Cash at bank and in hand 114,288 47,711
298,033 224,485
CREDITORS
Amounts falling due within one year 14 5,735,521 5,006,899
NET CURRENT LIABILITIES (5,437,488 ) (4,782,414 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,553,593

3,180,428

CREDITORS
Amounts falling due after more than one
year

15

2,195,746

2,797,913
NET ASSETS 357,847 382,515

CAPITAL AND RESERVES
Called up share capital 18 1,000 1,000
Retained earnings 19 356,847 381,515
SHAREHOLDERS' FUNDS 357,847 382,515

Company's profit for the financial year 135,332 129,722

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by:





Z A Pradhan - Director


Halcyon Living Limited
Group Accounts (Registered number: 08968867)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
for the Period 1 July 2022 to 29 June 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2021 1,000 2,549,319 2,550,319

Changes in equity
Dividends - (160,000 ) (160,000 )
Total comprehensive income - 1,115,452 1,115,452
Balance at 30 June 2022 1,000 3,504,771 3,505,771

Changes in equity
Dividends - (160,000 ) (160,000 )
Total comprehensive income - 980,344 980,344
Balance at 29 June 2023 1,000 4,325,115 4,326,115

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

COMPANY STATEMENT OF CHANGES IN EQUITY
for the Period 1 July 2022 to 29 June 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2021 1,000 411,793 412,793

Changes in equity
Dividends - (160,000 ) (160,000 )
Total comprehensive income - 129,722 129,722
Balance at 30 June 2022 1,000 381,515 382,515

Changes in equity
Dividends - (160,000 ) (160,000 )
Total comprehensive income - 135,332 135,332
Balance at 29 June 2023 1,000 356,847 357,847

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

CONSOLIDATED CASH FLOW STATEMENT
for the Period 1 July 2022 to 29 June 2023

Period
1.7.22
to Year Ended
29.6.23 30.6.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,044,036 620,955
Interest paid (278,464 ) (155,216 )
Tax paid (268,004 ) 92,374
Net cash from operating activities 1,497,568 558,113

Cash flows from investing activities
Purchase of tangible fixed assets (274,857 ) (447,114 )
Purchase of fixed asset investments (50,000 ) -
Purchase of investment property (176,516 ) (508,392 )
Interest received 739 1,094
Net cash from investing activities (500,634 ) (954,412 )

Cash flows from financing activities
Other loans repaid in year (560,246 ) (67,655 )
Amount introduced by directors 10,669 -
Amount withdrawn by directors - (10,669 )
Equity dividends paid (160,000 ) (160,000 )
Net cash from financing activities (709,577 ) (238,324 )

Increase/(decrease) in cash and cash equivalents 287,357 (634,623 )
Cash and cash equivalents at
beginning of period

2

354,221

988,844

Cash and cash equivalents at end of
period

2

641,578

354,221

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
for the Period 1 July 2022 to 29 June 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

Period
1.7.22
to Year Ended
29.6.23 30.6.22
£    £   
Profit before taxation 1,264,883 1,379,112
Depreciation charges 226,309 215,009
Government grants - (407,597 )
Finance costs 278,464 155,216
Finance income (739 ) (1,094 )
1,768,917 1,340,646
Increase in trade and other debtors (32,580 ) (2,851,104 )
Increase in trade and other creditors 307,699 2,131,413
Cash generated from operations 2,044,036 620,955

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash flow statement in respect of cash and cash equivalents are in respect of these Balance sheet amounts:

Period ended 29 June 2023
29.6.23 1.7.22
£    £   
Cash and cash equivalents 661,548 365,295
Bank overdrafts (19,970 ) (11,074 )
641,578 354,221
Year ended 30 June 2022
30.6.22 1.7.21
£    £   
Cash and cash equivalents 365,295 989,023
Bank overdrafts (11,074 ) (179 )
354,221 988,844


Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
for the Period 1 July 2022 to 29 June 2023

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.7.22 Cash flow At 29.6.23
£    £    £   
Net cash
Cash at bank and in hand 365,295 296,253 661,548
Bank overdrafts (11,074 ) (8,896 ) (19,970 )
354,221 287,357 641,578
Debt
Debts falling due within 1 year (567,663 ) (332,102 ) (899,765 )
Debts falling due after 1 year (6,404,112 ) 985,027 (5,419,085 )
(6,971,775 ) 652,925 (6,318,850 )
Total (6,617,554 ) 940,282 (5,677,272 )

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
for the Period 1 July 2022 to 29 June 2023

1. STATUTORY INFORMATION

Halcyon Living Limited Group Accounts 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 General 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.

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five 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 - 1% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated 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 Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Period 1 July 2022 to 29 June 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 period 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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
Period
1.7.22
to Year Ended
29.6.23 30.6.22
£    £   
Wages and salaries 4,064,024 3,822,731
Social security costs 280,298 258,776
Other pension costs 54,942 50,930
4,399,264 4,132,437

The average number of employees during the period was as follows:
Period
1.7.22
to Year Ended
29.6.23 30.6.22

Administration and finance 20 20
Care and nursing 210 199
Kitchen and other services 30 26
260 245

The average number of employees by undertakings that were proportionately consolidated during the period was 260 (2022 - 245 ) .

Period
1.7.22
to Year Ended
29.6.23 30.6.22
£    £   
Directors' remuneration 84,000 84,000

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Period 1 July 2022 to 29 June 2023

4. OPERATING PROFIT

The operating profit is stated after charging:

Period
1.7.22
to Year Ended
29.6.23 30.6.22
£    £   
Depreciation - owned assets 226,308 215,007
Auditors' remuneration 8,400 5,400

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.7.22
to Year Ended
29.6.23 30.6.22
£    £   
Bank loan interest 278,464 155,216

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
Period
1.7.22
to Year Ended
29.6.23 30.6.22
£    £   
Current tax:
UK corporation tax 297,648 263,660
years (13,109 ) -

Tax on profit 284,539 263,660

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
Period
1.7.22
to Year Ended
29.6.23 30.6.22
£    £   
Ordinary shares of £1.00 each
Final 160,000 160,000

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Period 1 July 2022 to 29 June 2023

9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 July 2022
and 29 June 2023 5,936,588
AMORTISATION
At 1 July 2022
and 29 June 2023 53,997
NET BOOK VALUE
At 29 June 2023 5,882,591
At 30 June 2022 5,882,591

10. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 July 2022 3,296,366 822,761 377,360
Additions - 66,433 22,819
At 29 June 2023 3,296,366 889,194 400,179
DEPRECIATION
At 1 July 2022 219,300 46,958 244,430
Charge for period 32,964 14,114 38,937
At 29 June 2023 252,264 61,072 283,367
NET BOOK VALUE
At 29 June 2023 3,044,102 828,122 116,812
At 30 June 2022 3,077,066 775,803 132,930

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Period 1 July 2022 to 29 June 2023

10. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 816,084 15,000 61,405 5,388,976
Additions 173,945 - 11,660 274,857
At 29 June 2023 990,029 15,000 73,065 5,663,833
DEPRECIATION
At 1 July 2022 477,362 10,254 30,533 1,028,837
Charge for period 128,474 1,186 10,633 226,308
At 29 June 2023 605,836 11,440 41,166 1,255,145
NET BOOK VALUE
At 29 June 2023 384,193 3,560 31,899 4,408,688
At 30 June 2022 338,722 4,746 30,872 4,360,139

Company
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 July 2022 1,071,493 50,276 202,939
Additions - 24,100 -
At 29 June 2023 1,071,493 74,376 202,939
DEPRECIATION
At 1 July 2022 85,719 2,150 139,500
Charge for period 10,715 744 15,860
At 29 June 2023 96,434 2,894 155,360
NET BOOK VALUE
At 29 June 2023 975,059 71,482 47,579
At 30 June 2022 985,774 48,126 63,439

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Period 1 July 2022 to 29 June 2023

10. TANGIBLE FIXED ASSETS - continued

Company

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2022 179,517 25,620 1,529,845
Additions 64,632 476 89,208
At 29 June 2023 244,149 26,096 1,619,053
DEPRECIATION
At 1 July 2022 123,981 11,665 363,015
Charge for period 30,042 3,608 60,969
At 29 June 2023 154,023 15,273 423,984
NET BOOK VALUE
At 29 June 2023 90,126 10,823 1,195,069
At 30 June 2022 55,536 13,955 1,166,830

11. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
Additions 50,000
At 29 June 2023 50,000
NET BOOK VALUE
At 29 June 2023 50,000
Company
Shares in
group
undertakings
£   
COST
At 1 July 2022
and 29 June 2023 6,650,548
NET BOOK VALUE
At 29 June 2023 6,650,548
At 30 June 2022 6,650,548

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Period 1 July 2022 to 29 June 2023

11. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance sheet date in the share capital of companies include the following:

Subsidiaries

Halycon Living 11 Limited
Registered office:
Nature of business: Care Home
%
Class of shares: holding
ordinary shares of £1.00 100.00
29.6.23 30.6.22
£    £   
Aggregate capital and reserves 986,858 855,650
Profit for the period/year 131,208 112,088

Halcyon Living 111 limited
Registered office:
Nature of business: Nursing Home
%
Class of shares: holding
Ordinary shares 100.00
29.6.23 30.6.22
£    £   
Aggregate capital and reserves 3,769,648 3,035,563
Profit for the period/year 734,085 873,641


12. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 July 2022 508,392
Additions 176,516
At 29 June 2023 684,908
NET BOOK VALUE
At 29 June 2023 684,908
At 30 June 2022 508,392

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Period 1 July 2022 to 29 June 2023

12. INVESTMENT PROPERTY - continued

Company
Total
£   
FAIR VALUE
At 1 July 2022
and 29 June 2023 145,464
NET BOOK VALUE
At 29 June 2023 145,464
At 30 June 2022 145,464

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
29.6.23 30.6.22 29.6.23 30.6.22
£    £    £    £   
Trade debtors 356,485 377,130 154,877 173,849
Related parties - 61,658 - -
Other debtors 2,829,106 2,798,187 19,044 -
Directors' current accounts - 10,669 - -
Prepayments 10,470 22,245 9,824 2,925
3,196,061 3,269,889 183,745 176,774

Other debtors include £2,810,062 (2022: £2,810,122) was advanced to companies owned by related party. The loan is repayable on demand.

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
29.6.23 30.6.22 29.6.23 30.6.22
£    £    £    £   
Bank loans and overdrafts (see note 16) 615,913 450,797 147,556 120,788
Other loans (see note 16) 303,822 127,940 88,892 -
Trade creditors 244,235 166,429 66,426 72,390
Other creditors 2,520 - - -
Amounts owed to group undertakings - - 2,508,937 1,984,284
Tax 635,297 618,762 140,988 133,001
Social security and other taxes 67,510 59,629 18,704 24,753
Net wages 294,345 269,040 80,669 75,752
Other creditors 2,606,478 2,609,537 2,521,321 2,523,410
Accrued expenses 153,043 63,498 26,831 11,604
Advance fees 215,433 110,791 135,197 60,917
5,138,596 4,476,423 5,735,521 5,006,899

Other creditors include an amount of £2,585,440 ( 2022:£2,587,333) due to companies controlled and managed by a related party and payable on demand.

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Period 1 July 2022 to 29 June 2023

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
29.6.23 30.6.22 29.6.23 30.6.22
£    £    £    £   
Bank loans (see note 16) 3,840,300 4,314,297 695,746 797,913
Other loans (see note 16) 1,578,785 2,089,815 1,500,000 2,000,000
5,419,085 6,404,112 2,195,746 2,797,913

16. LOANS

An analysis of the maturity of loans is given below:

Group Company
29.6.23 30.6.22 29.6.23 30.6.22
£    £    £    £   
Amounts falling due within one year or on demand:
Bank overdrafts 19,970 11,074 9,811 4,154
Bank loans 595,943 439,723 137,745 116,634
Other loans 117,667 127,940 - -
Investment property loan 186,155 - 88,892 -
919,735 578,737 236,448 120,788
Amounts falling due between one and two years:
Bank loans - 1-2 years 811,867 607,240 287,681 233,268
Other loans - 1-2 years 78,785 89,815 - -
890,652 697,055 287,681 233,268
Amounts falling due between two and five years:
Bank loans - 2-5 years 2,835,138 3,210,770 369,176 349,901
Sub-ordinated loan 1,500,000 2,000,000 1,500,000 2,000,000
4,335,138 5,210,770 1,869,176 2,349,901
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 154,406 451,843 - 170,300
Bounce back loan 38,889 44,444 38,889 44,444
193,295 496,287 38,889 214,744

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Period 1 July 2022 to 29 June 2023

17. SECURED DEBTS

The following secured debts are included within creditors:

Company
29.6.23 30.6.22
£    £   
Bank loans 833,491 914,547

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.6.23 30.6.22
value: £    £   
1,000 Ordinary £1.00 1,000 1,000

19. RESERVES

Group
Retained
earnings
£   

At 1 July 2022 3,504,771
Profit for the period 980,344
Dividends (160,000 )
At 29 June 2023 4,325,115

Company
Retained
earnings
£   

At 1 July 2022 381,515
Profit for the period 135,332
Dividends (160,000 )
At 29 June 2023 356,847


Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Period 1 July 2022 to 29 June 2023

20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 29 June 2023 and the year ended 30 June 2022:

29.6.23 30.6.22
£    £   
Z A Pradhan
Balance outstanding at start of period 3,733 -
Amounts advanced - 3,733
Amounts repaid (3,733 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 3,733

N Pradhan
Balance outstanding at start of period 6,936 -
Amounts advanced - 6,936
Amounts repaid (6,936 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 6,936

21. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Z A PRADHAN AND N A PRADHAN.

22. SUBSIDIARY COMPANY AUDIT EXEMPTION

The following companies are entitled to and have taken advantage of the exemption from statutory Audit conferred under Section 479A of the companies Act 2006.

Halcyon Living 11 Limited 9392024
Halcyon Living 111 Limited 10180246