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REGISTERED NUMBER: 08968867 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024

FOR

Halcyon Living Limited
Group Accounts

Halcyon Living Limited
Group Accounts (Registered number: 08968867)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
for the Year Ended 29 June 2024




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 Year Ended 29 June 2024







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,
Mitcham
CR4 3BW

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

GROUP STRATEGIC REPORT
for the Year Ended 29 June 2024

The directors present their strategic report of the company and the group for the year ended 29 June 2024.

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 8,867,220 7,869,133
Profit before taxation 1,473,774 1,264,880
Gross profit 3,623,617 3,201,108
Gross profit percentage 40.8% 40.7%

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 Group 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:





N Pradhan - Director


27 March 2025

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

REPORT OF THE DIRECTORS
for the Year Ended 29 June 2024

The directors present their report with the financial statements of the company and the group for the year ended 29 June 2024.

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

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

The total distribution of dividends for the year ended 29 June 2024 will be £ 160,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 30 June 2023 to the date of this report.

Z A Pradhan
N Pradhan

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 Year Ended 29 June 2024


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

ON BEHALF OF THE BOARD:





N Pradhan - Director


27 March 2025

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 year ended 29 June 2024 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 2024 and of the group's 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 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.

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 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,
Mitcham
CR4 3BW

27 March 2025

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

CONSOLIDATED INCOME STATEMENT
for the Year Ended 29 June 2024

Period
1.7.22
Year Ended to
29.6.24 29.6.23
Notes £    £   

TURNOVER 8,867,220 7,869,133

Cost of sales 5,243,603 4,668,025
GROSS PROFIT 3,623,617 3,201,108

Administrative expenses 1,903,402 1,802,005
1,720,215 1,399,103

Other operating income 113,742 143,502
OPERATING PROFIT 4 1,833,957 1,542,605

Interest receivable and similar income 6,758 739
1,840,715 1,543,344

Interest payable and similar expenses 5 366,941 278,464
PROFIT BEFORE TAXATION 1,473,774 1,264,880

Tax on profit 6 384,420 284,539
PROFIT FOR THE FINANCIAL YEAR 1,089,354 980,341
Profit attributable to:
Owners of the parent 1,089,354 980,341

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

CONSOLIDATED 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 1,089,354 980,341


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,089,354

980,341

Total comprehensive income attributable to:
Owners of the parent 1,089,354 980,341

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

CONSOLIDATED BALANCE SHEET
29 June 2024

29.6.24 29.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 5,882,591 5,882,591
Tangible assets 10 4,385,943 4,408,686
Investments 11 50,000 50,000
Investment property 12 684,908 684,908
11,003,442 11,026,185

CURRENT ASSETS
Debtors 13 1,025,197 3,196,061
Cash at bank and in hand 675,442 661,548
1,700,639 3,857,609
CREDITORS
Amounts falling due within one year 14 2,971,262 5,138,597
NET CURRENT LIABILITIES (1,270,623 ) (1,280,988 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,732,819

9,745,197

CREDITORS
Amounts falling due after more than one
year

15

4,477,353

5,419,085
NET ASSETS 5,255,466 4,326,112

CAPITAL AND RESERVES
Called up share capital 18 1,000 1,000
Retained earnings 19 5,254,466 4,325,112
SHAREHOLDERS' FUNDS 5,255,466 4,326,112

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





N Pradhan - Director


Halcyon Living Limited
Group Accounts (Registered number: 08968867)

COMPANY BALANCE SHEET
29 June 2024

29.6.24 29.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 1,177,811 1,195,069
Investments 11 6,650,548 6,650,548
Investment property 12 145,464 145,464
7,973,823 7,991,081

CURRENT ASSETS
Debtors 13 162,917 183,745
Cash at bank and in hand 455,329 114,288
618,246 298,033
CREDITORS
Amounts falling due within one year 14 6,839,658 5,735,521
NET CURRENT LIABILITIES (6,221,412 ) (5,437,488 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,752,411

2,553,593

CREDITORS
Amounts falling due after more than one
year

15

1,408,002

2,195,746
NET ASSETS 344,409 357,847

CAPITAL AND RESERVES
Called up share capital 18 1,000 1,000
Retained earnings 19 343,409 356,847
SHAREHOLDERS' FUNDS 344,409 357,847

Company's profit for the financial year 146,562 135,332

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





N Pradhan - Director


Halcyon Living Limited
Group Accounts (Registered number: 08968867)

CONSOLIDATED 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 1,000 3,504,771 3,505,771

Changes in equity
Dividends - (160,000 ) (160,000 )
Total comprehensive income - 980,341 980,341
Balance at 29 June 2023 1,000 4,325,112 4,326,112

Changes in equity
Dividends - (160,000 ) (160,000 )
Total comprehensive income - 1,089,354 1,089,354
Balance at 29 June 2024 1,000 5,254,466 5,255,466

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

COMPANY 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 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

Changes in equity
Dividends - (160,000 ) (160,000 )
Total comprehensive income - 146,562 146,562
Balance at 29 June 2024 1,000 343,409 344,409

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

CONSOLIDATED 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 2,097,926 2,075,054
Interest paid (366,941 ) (278,464 )
Tax paid (304,472 ) (268,004 )
Net cash from operating activities 1,426,513 1,528,586

Cash flows from investing activities
Purchase of tangible fixed assets (206,444 ) (274,856 )
Purchase of fixed asset investments - (50,000 )
Purchase of investment property - (176,516 )
Sale of tangible fixed assets 5,400 -
Interest received 6,758 739
Net cash from investing activities (194,286 ) (500,633 )

Cash flows from financing activities
Other loans repaid in year (1,066,346 ) (591,265 )
Amount introduced by directors 1,149 10,669
Equity dividends paid (160,000 ) (160,000 )
Net cash from financing activities (1,225,197 ) (740,596 )

Increase in cash and cash equivalents 7,030 287,357
Cash and cash equivalents at
beginning of year

2

641,578

354,221

Cash and cash equivalents at end of
year

2

648,608

641,578

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED 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 1,473,774 1,264,880
Depreciation charges 225,627 226,309
Profit on disposal of fixed assets (1,840 ) -
Finance costs 366,941 278,464
Finance income (6,758 ) (739 )
2,057,744 1,768,914
Decrease in trade and other debtors 2,170,864 1,501
(Decrease)/increase in trade and other creditors (2,130,682 ) 304,639
Cash generated from operations 2,097,926 2,075,054

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 675,442 661,548
Bank overdrafts (26,834 ) (19,970 )
648,608 641,578
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


Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED 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 661,548 13,894 675,442
Bank overdrafts (19,970 ) (6,864 ) (26,834 )
641,578 7,030 648,608
Debt
Debts falling due within 1 year (899,765 ) 124,614 (775,151 )
Debts falling due after 1 year (5,419,085 ) 941,732 (4,477,353 )
(6,318,850 ) 1,066,346 (5,252,504 )
Total (5,677,272 ) 1,073,376 (4,603,896 )

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
for the Year Ended 29 June 2024

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 year 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 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 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
Year Ended to
29.6.24 29.6.23
£    £   
Wages and salaries 4,579,346 4,063,577
Social security costs 329,651 280,298
Other pension costs 64,463 55,389
4,973,460 4,399,264

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 and finance 20 20
Care and nursing 217 210
Kitchen and other services 30 30
267 260

The average number of employees by undertakings that were proportionately consolidated during the year was 267 (2023 - 260 ) .

Period
1.7.22
Year Ended to
29.6.24 29.6.23
£    £   
Directors' remuneration 84,000 84,000

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED 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 225,627 226,309
Profit on disposal of fixed assets (1,840 ) -
Auditors' remuneration 19,200 8,400

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.7.22
Year Ended to
29.6.24 29.6.23
£    £   
Bank loan interest 366,941 278,464

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 384,420 297,648
years - (13,109 )

Tax on profit 384,420 284,539

UK corporation tax has been charged at 25 % .

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
Year Ended to
29.6.24 29.6.23
£    £   
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 Year Ended 29 June 2024

9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 30 June 2023
and 29 June 2024 5,936,588
AMORTISATION
At 30 June 2023
and 29 June 2024 53,997
NET BOOK VALUE
At 29 June 2024 5,882,591
At 29 June 2023 5,882,591

10. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 30 June 2023 3,296,366 889,193 400,179
Additions - 44,771 26,154
Disposals - - -
At 29 June 2024 3,296,366 933,964 426,333
DEPRECIATION
At 30 June 2023 252,264 61,072 283,367
Charge for year 32,964 19,018 35,742
Eliminated on disposal - - -
At 29 June 2024 285,228 80,090 319,109
NET BOOK VALUE
At 29 June 2024 3,011,138 853,874 107,224
At 29 June 2023 3,044,102 828,121 116,812

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 29 June 2024

10. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 30 June 2023 990,029 15,000 73,065 5,663,832
Additions 83,707 44,810 7,002 206,444
Disposals - (15,000 ) - (15,000 )
At 29 June 2024 1,073,736 44,810 80,067 5,855,276
DEPRECIATION
At 30 June 2023 605,836 11,441 41,166 1,255,146
Charge for year 116,975 11,203 9,725 225,627
Eliminated on disposal - (11,440 ) - (11,440 )
At 29 June 2024 722,811 11,204 50,891 1,469,333
NET BOOK VALUE
At 29 June 2024 350,925 33,606 29,176 4,385,943
At 29 June 2023 384,193 3,559 31,899 4,408,686

Company
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 30 June 2023 1,071,493 74,376 202,939
Additions - 3,222 612
At 29 June 2024 1,071,493 77,598 203,551
DEPRECIATION
At 30 June 2023 96,434 2,894 155,360
Charge for year 10,715 776 12,048
At 29 June 2024 107,149 3,670 167,408
NET BOOK VALUE
At 29 June 2024 964,344 73,928 36,143
At 29 June 2023 975,059 71,482 47,579

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 29 June 2024

10. TANGIBLE FIXED ASSETS - continued

Company

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 30 June 2023 244,149 26,096 1,619,053
Additions 36,794 118 40,746
At 29 June 2024 280,943 26,214 1,659,799
DEPRECIATION
At 30 June 2023 154,023 15,273 423,984
Charge for year 31,730 2,735 58,004
At 29 June 2024 185,753 18,008 481,988
NET BOOK VALUE
At 29 June 2024 95,190 8,206 1,177,811
At 29 June 2023 90,126 10,823 1,195,069

11. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
At 30 June 2023
and 29 June 2024 50,000
NET BOOK VALUE
At 29 June 2024 50,000
At 29 June 2023 50,000
Company
Shares in
group
undertakings
£   
COST
At 30 June 2023
and 29 June 2024 6,650,548
NET BOOK VALUE
At 29 June 2024 6,650,548
At 29 June 2023 6,650,548

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 29 June 2024

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

Halcyon Living 11 Limited
Registered office: No15,1st Floor,Princeton Mews,167-169 London Road, Kingston Upon Thames, Surrey.KT2 6PT
Nature of business: Care Home
%
Class of shares: holding
ordinary shares of £1.00 100.00
29.6.24 29.6.23
£    £   
Aggregate capital and reserves 1,081,472 999,967
Profit for the year/period 81,505 144,317

Halcyon Living 111 limited
Registered office: No15,1st Floor, Princeton Mews, 167-169 London Road,Kingston Upon Thames Surrey.KT2 6PT
Nature of business: Nursing Home
%
Class of shares: holding
Ordinary shares 100.00
29.6.24 29.6.23
£    £   
Aggregate capital and reserves 4,596,545 3,736,259
Profit for the year/period 861,286 700,696


12. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 30 June 2023
and 29 June 2024 684,908
NET BOOK VALUE
At 29 June 2024 684,908
At 29 June 2023 684,908

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 29 June 2024

12. INVESTMENT PROPERTY - continued

Company
Total
£   
FAIR VALUE
At 30 June 2023
and 29 June 2024 145,464
NET BOOK VALUE
At 29 June 2024 145,464
At 29 June 2023 145,464

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
29.6.24 29.6.23 29.6.24 29.6.23
£    £    £    £   
Trade debtors 301,291 356,485 154,095 154,877
Other debtors 3,075 - - -
Other debtors 685,122 2,829,106 - 19,044
Prepayments 21,309 10,470 8,057 9,824
Staff loans 14,400 - 765 -
1,025,197 3,196,061 162,917 183,745

Other debtors include £685,122 (2023: £2,810,062) was advanced to companies owned by related party. The loan is repayable on demand.

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
29.6.24 29.6.23 29.6.24 29.6.23
£    £    £    £   
Bank loans and overdrafts (see note 16) 525,838 615,913 156,532 147,556
Other loans (see note 16) 276,147 303,822 81,134 88,892
Trade creditors 66,692 244,236 32,608 66,426
Other creditors - 2,520 - -
Amounts owed to group undertakings - - 5,655,763 2,508,937
Tax 715,245 635,297 118,735 140,988
Social security and other taxes 116,464 67,510 29,146 18,704
Net wages 337,127 294,345 89,539 80,669
Other creditors 539,139 2,606,478 528,900 2,521,321
Directors' current accounts 1,149 - 1,149 -
Accrued expenses 226,656 153,043 132,647 26,831
Advance fees 166,805 215,433 13,505 135,197
2,971,262 5,138,597 6,839,658 5,735,521

Other creditors include £528,900 (£2,586,321) due to related parties and is payable on demand.

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 29 June 2024

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

Group Company
29.6.24 29.6.23 29.6.24 29.6.23
£    £    £    £   
Bank loans (see note 16) 3,609,691 3,840,300 608,002 695,746
Other loans (see note 16) 867,662 1,578,785 800,000 1,500,000
4,477,353 5,419,085 1,408,002 2,195,746

16. LOANS

An analysis of the maturity of loans is given below:

Group Company
29.6.24 29.6.23 29.6.24 29.6.23
£    £    £    £   
Amounts falling due within one year or on demand:
Bank overdrafts 26,834 19,970 12,691 9,811
Bank loans 499,004 595,943 143,841 137,745
Other loans 106,723 117,667 - -
Investment property loan 169,424 186,155 81,134 88,892
801,985 919,735 237,666 236,448
Amounts falling due between one and two years:
Bank loans - 1-2 years 936,474 811,867 287,681 287,681
Other loans - 1-2 years 67,662 78,785 - -
1,004,136 890,652 287,681 287,681
Amounts falling due between two and five years:
Bank loans - 2-5 years 2,518,523 2,835,138 286,918 369,176
Sub-ordinated loan 800,000 1,500,000 800,000 1,500,000
3,318,523 4,335,138 1,086,918 1,869,176
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 121,291 154,406 - -
Bounce back loan 33,403 38,889 33,403 38,889
154,694 193,295 33,403 38,889

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 29 June 2024

17. SECURED DEBTS

The following secured debts are included within creditors:

Company
29.6.24 29.6.23
£    £   
Bank loans 751,843 833,491

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.6.24 29.6.23
value: £    £   
1,000 Ordinary £1.00 1,000 1,000

19. RESERVES

Group
Retained
earnings
£   

At 30 June 2023 4,325,112
Profit for the year 1,089,354
Dividends (160,000 )
At 29 June 2024 5,254,466

Company
Retained
earnings
£   

At 30 June 2023 356,847
Profit for the year 146,562
Dividends (160,000 )
At 29 June 2024 343,409


20. 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
£    £   
Z A Pradhan
Balance outstanding at start of year - 3,733
Amounts repaid - (3,733 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Halcyon Living Limited
Group Accounts (Registered number: 08968867)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the Year Ended 29 June 2024

20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

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

21. RELATED PARTY DISCLOSURES

Other related parties
29.6.24 29.6.23
£    £   
Amount due from related party 685,122 2,810,062
Amount due to related party 528,900 2,586,321

22. ULTIMATE CONTROLLING PARTY

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