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HALCYON BUILDING LTD

Registered Number
10823089
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

HALCYON BUILDING LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

WILLIAMS, Karl Michael

Registered Address

12a Marlborough Place
Brighton
BN1 1WN

Registered Number

10823089 (England and Wales)
HALCYON BUILDING LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets37,9739,081
7,9739,081
Current assets
Stocks415,00015,000
Debtors528,6463,821
Cash at bank and on hand11,95345,388
55,59964,209
Creditors amounts falling due within one year6(63,102)(70,408)
Net current assets (liabilities)(7,503)(6,199)
Total assets less current liabilities4702,882
Net assets4702,882
Capital and reserves
Called up share capital5050
Profit and loss account4202,832
Shareholders' funds4702,882
The financial statements were approved and authorised for issue by the Director on 13 December 2024, and are signed on its behalf by:
WILLIAMS, Karl Michael
Director
Registered Company No. 10823089
HALCYON BUILDING LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Vehicles-10
Office Equipment25-
Stocks and work in progress
Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 July 231299,0001,84010,969
At 30 June 241299,0001,84010,969
Depreciation and impairment
At 01 July 23747501,0641,888
Charge for year149001941,108
At 30 June 24881,6501,2582,996
Net book value
At 30 June 24417,3505827,973
At 30 June 23558,2507769,081
4.Stocks

2024

2023

££
Work in progress15,00015,000
Total15,00015,000
5.Debtors: amounts due within one year

2024

2023

££
Other debtors28,6463,821
Total28,6463,821
6.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts28,51027,916
Taxation and social security19,33227,231
Other creditors15,26015,261
Total63,10270,408
7.Related party transactions
At the year end, the director, K Williams, owed the company £26,684 (2023: £NIL). The overdrawn amounts were repaid to the company before 31/12/2024. Interest has been charged on the overdrawn amounts at the official HM Revenue & Customs rate.