REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024 |
FOR |
Halcyon Living 111 Limited |
REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024 |
FOR |
Halcyon Living 111 Limited |
Halcyon Living 111 Limited (Registered number: 10180246) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 29 June 2024 |
Page |
Company information | 1 |
Strategic report | 2 |
Report of the directors | 3 |
Report of the independent auditors | 4 |
Income statement | 8 |
Other comprehensive income | 9 |
Balance sheet | 10 |
Statement of changes in equity | 11 |
Cash flow statement | 12 |
Notes to the cash flow statement | 13 |
Notes to the financial statements | 15 |
Halcyon Living 111 Limited |
COMPANY INFORMATION |
for the Year Ended 29 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Certified Accountants |
Registered Auditors |
170 Church Road, |
Mitcham |
CR4 3BW |
Halcyon Living 111 Limited (Registered number: 10180246) |
STRATEGIC REPORT |
for the Year Ended 29 June 2024 |
The directors present their strategic report for the year ended 29 June 2024. |
REVIEW OF BUSINESS |
In the opinion of the directors, the company has achieved good results of the year under review. |
The results and the position of the company 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 directors expects to maintain the level of activity for the foreseeable future. |
The turnover for the year to 29 June,2024 is likely be consistent and with tight control on the expenditure, profitability will continue at satisfactory level. |
£ £ |
Turnover | 5,593,122 | 4,935,551 |
Profit before taxation | 1,167,461 | 925,592 |
Gross profit | 2,500,983 | 2,218,530 |
Gross profit percentage | 44.7% | 44.9% |
Shareholders' funds amount to £4,597,545 (2023: £3,736,259).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. |
PRINCIPAL RISKS AND UNCERTAINTIES |
like all Nursing home businesses, Halcyon Living III Ltd faces a number of operating risks and uncertainties.The risk that could impact the company's long term performance and steps are taken to evaluate these in order to achieve the company's objective of long term sustainable returns. |
The fundamental risks faced are compliance with regulatory requirements, negative publicity if any serious incident were to happen,occupancy levels and weekly fee level to maintain profit margins and attracting and retaining good qualified staff. |
ON BEHALF OF THE BOARD: |
Halcyon Living 111 Limited (Registered number: 10180246) |
REPORT OF THE DIRECTORS |
for the Year Ended 29 June 2024 |
The directors present their report with the financial statements of the company for the year ended 29 June 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of operating and managing nursing homes. |
DIVIDENDS |
No dividends will be distributed for the year ended 29 June 2024. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 30 June 2023 to the date of this report. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company's auditors are aware of that information. |
AUDITORS |
The auditors, TAXAUDIT ACCOUNTANTS LTD, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
HALCYON LIVING 111 LIMITED |
Opinion |
We have audited the financial statements of Halcyon Living 111 Limited (the 'company') for the year ended 29 June 2024 which comprise the Income statement, Other comprehensive income, Balance sheet, Statement of changes in equity, Cash flow statement and Notes to the 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 company's affairs as at 29 June 2024 and of its profit 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 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 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 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 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 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 111 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 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, 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 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 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 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 111 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. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
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: 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 111 LIMITED |
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. |
for and on behalf of |
Chartered Certified Accountants |
Registered Auditors |
170 Church Road, |
Mitcham |
CR4 3BW |
Halcyon Living 111 Limited (Registered number: 10180246) |
INCOME STATEMENT |
for the Year Ended 29 June 2024 |
Period |
1.7.22 |
Year Ended | to |
29.6.24 | 29.6.23 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
1,385,693 | 1,074,624 |
Other operating income |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
1,424,890 | 1,117,210 |
Interest payable and similar expenses | 5 |
PROFIT BEFORE TAXATION |
Tax on profit | 6 |
PROFIT FOR THE FINANCIAL YEAR |
Halcyon Living 111 Limited (Registered number: 10180246) |
OTHER COMPREHENSIVE INCOME |
for the Year Ended 29 June 2024 |
Period |
1.7.22 |
Year Ended | to |
29.6.24 | 29.6.23 |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
Halcyon Living 111 Limited (Registered number: 10180246) |
BALANCE SHEET |
29 June 2024 |
29.6.24 | 29.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 7 |
Tangible assets | 8 |
Investments | 9 |
Investment property | 10 |
CURRENT ASSETS |
Debtors | 11 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 12 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
13 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 16 |
Retained earnings | 17 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Halcyon Living 111 Limited (Registered number: 10180246) |
STATEMENT OF CHANGES IN EQUITY |
for the Year Ended 29 June 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 July 2022 |
Changes in equity |
Total comprehensive income | - |
Balance at 29 June 2023 |
Changes in equity |
Total comprehensive income | - |
Balance at 29 June 2024 |
Halcyon Living 111 Limited (Registered number: 10180246) |
CASH FLOW STATEMENT |
for the Year Ended 29 June 2024 |
Period |
1.7.22 |
Year Ended | to |
29.6.24 | 29.6.23 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Interest paid | ( |
) | ( |
) |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Purchase of fixed asset investments | - | (50,000 | ) |
Purchase of investment property | ( |
) |
Sale of tangible fixed assets |
Interest received |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
Other loan repayments in year | (3,159,185 | ) | - |
Amount introduced by directors | - | 10,669 |
Loans | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
(Decrease)/increase in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of year |
2 |
363,755 |
303,002 |
Cash and cash equivalents at end of year |
2 |
Halcyon Living 111 Limited (Registered number: 10180246) |
NOTES TO THE CASH FLOW STATEMENT |
for the Year Ended 29 June 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
Period |
1.7.22 |
Year Ended | to |
29.6.24 | 29.6.23 |
£ | £ |
Profit before taxation |
Depreciation charges |
Profit on disposal of fixed assets | ( |
) |
Finance costs | 257,429 | 191,618 |
Finance income | (615 | ) | (673 | ) |
1,555,662 | 1,254,415 |
Decrease in trade and other debtors |
(Decrease)/increase in trade and other creditors | ( |
) |
Cash generated from operations |
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: |
Year ended 29 June 2024 |
29.6.24 | 30.6.23 |
£ | £ |
Cash and cash equivalents | 209,448 | 372,431 |
Bank overdrafts | ( |
) | ( |
) |
198,933 | 363,755 |
Period ended 29 June 2023 |
29.6.23 | 1.7.22 |
£ | £ |
Cash and cash equivalents | 372,431 | 307,863 |
Bank overdrafts | ( |
) | ( |
) |
363,755 | 303,002 |
Halcyon Living 111 Limited (Registered number: 10180246) |
NOTES TO THE CASH FLOW STATEMENT |
for the Year Ended 29 June 2024 |
3. | ANALYSIS OF CHANGES IN NET DEBT |
At 30.6.23 | Cash flow | At 29.6.24 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 372,431 | (162,983 | ) | 209,448 |
Bank overdrafts | (8,676 | ) | (1,839 | ) | (10,515 | ) |
363,755 | ( |
) | 198,933 |
Debt |
Debts falling due within 1 year | (673,127 | ) | 122,951 | (550,176 | ) |
Debts falling due after 1 year | (2,673,698 | ) | 121,801 | (2,551,897 | ) |
(3,346,825 | ) | 244,752 | (3,102,073 | ) |
Total | (2,983,070 | ) | 79,930 | (2,903,140 | ) |
Halcyon Living 111 Limited (Registered number: 10180246) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 29 June 2024 |
1. | STATUTORY INFORMATION |
Halcyon Living 111 Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
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 |
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 |
Freehold property | - |
Fixtures and fittings | - |
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 year comprises current and deferred tax. Tax is recognised in the 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 111 Limited (Registered number: 10180246) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29 June 2024 |
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 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
Period |
1.7.22 |
Year Ended | to |
29.6.24 | 29.6.23 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
Period |
1.7.22 |
Year Ended | to |
29.6.24 | 29.6.23 |
Administration, management & finance | 10 | 10 |
Care and Nursing | 110 | 120 |
Kitchen and other services | 14 | 14 |
Period |
1.7.22 |
Year Ended | to |
29.6.24 | 29.6.23 |
£ | £ |
Directors' remuneration |
Halcyon Living 111 Limited (Registered number: 10180246) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29 June 2024 |
4. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
Period |
1.7.22 |
Year Ended | to |
29.6.24 | 29.6.23 |
£ | £ |
Depreciation - owned assets |
Profit on disposal of fixed assets | ( |
) |
Auditors' remuneration |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
Period |
1.7.22 |
Year Ended | to |
29.6.24 | 29.6.23 |
£ | £ |
Bank loan interest |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
Period |
1.7.22 |
Year Ended | to |
29.6.24 | 29.6.23 |
£ | £ |
Current tax: |
UK corporation tax |
Tax on profit |
UK corporation tax has been charged at 25% . |
7. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 30 June 2023 |
and 29 June 2024 |
AMORTISATION |
At 30 June 2023 |
and 29 June 2024 |
NET BOOK VALUE |
At 29 June 2024 |
At 29 June 2023 |
Halcyon Living 111 Limited (Registered number: 10180246) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29 June 2024 |
8. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 30 June 2023 |
Additions |
Disposals |
At 29 June 2024 |
DEPRECIATION |
At 30 June 2023 |
Charge for year |
Eliminated on disposal |
At 29 June 2024 |
NET BOOK VALUE |
At 29 June 2024 |
At 29 June 2023 |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 30 June 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 29 June 2024 |
DEPRECIATION |
At 30 June 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 29 June 2024 |
NET BOOK VALUE |
At 29 June 2024 |
At 29 June 2023 |
Halcyon Living 111 Limited (Registered number: 10180246) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29 June 2024 |
9. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 30 June 2023 |
and 29 June 2024 |
NET BOOK VALUE |
At 29 June 2024 |
At 29 June 2023 |
10. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 30 June 2023 |
and 29 June 2024 |
NET BOOK VALUE |
At 29 June 2024 |
At 29 June 2023 |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.6.24 | 29.6.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors | 685,122 | 2,810,062 |
Prepayments |
Staff Loans | 13,635 | - |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.6.24 | 29.6.23 |
£ | £ |
Bank loans and overdrafts (see note 14) |
Other loans (see note 14) |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Net Wages | 199,500 | 169,726 |
Other creditors |
Accrued expenses |
Advanced fees | 135,722 | 67,977 |
Halcyon Living 111 Limited (Registered number: 10180246) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29 June 2024 |
13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.6.24 | 29.6.23 |
£ | £ |
Bank loans (see note 14) |
Other loans (see note 14) |
14. | LOANS |
An analysis of the maturity of loans is given below: |
29.6.24 | 29.6.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Bank loans |
Other loans | 106,723 | 117,667 |
Investment property loan | 88,289 | 97,263 |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Other loans - 1-2 years | 33,866 |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
15. | SECURED DEBTS |
The following secured debts are included within creditors: |
29.6.24 | 29.6.23 |
£ | £ |
Bank loans |
Bank borrowings is denominated in sterling with a normal interest rate of 2.75% and the final instalment is Payable by 20 instalments ending on 26 November, 2029. |
A debenture creating a fixed and floating charge over the assets of Halcyon Living 111 Ltd |
A legal charge over the freehold properties at Martin Hall Nursing Home,High Street, Martin , Lincoln LN4 3QY.Oaklands Care Centre,283 North Street, Langwith,Mansfield NG20 9BN and Cliff House Care Home,Cliff Hill, Clowne,Chesterfield.S43 4LE |
.A cross guarantees between Halcyon Living 111 Limited and Halcyon Living Limited |
Halcyon Living 111 Limited (Registered number: 10180246) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29 June 2024 |
16. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.6.24 | 29.6.23 |
value: | £ | £ |
Ordinary | 1 | 1,000 | 1,000 |
17. | RESERVES |
Retained |
earnings |
£ |
At 30 June 2023 |
Profit for the year |
At 29 June 2024 |
18. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the year ended 29 June 2024 and the period ended 29 June 2023: |
29.6.24 | 29.6.23 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
19. | ULTIMATE CONTROLLING PARTY |
Mr Z.Pradhan and Mr N.Pradhan are the controlling parties. |