Halycon LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: OC403774

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		32,000		48,000
Tangible Assets	5		977,521		987,054

			1,009,521		1,035,054
CURRENT ASSETS
Debtors	6	409		33,609
Cash at bank and in hand		26,474		27,912

		26,883		61,521
Creditors: Amounts Falling Due Within One Year	7	(46,191 )		(61,373 )

NET CURRENT ASSETS (LIABILITIES)			(19,308 )		148

TOTAL ASSETS LESS CURRENT LIABILITIES			990,213		1,035,202

Creditors: Amounts Falling Due After More Than One Year	8		-		(37,741 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			990,213		997,461

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		950,317		953,378

			950,317		953,378

Equity
Members' other interests
Other reserves		39,896		44,083

			39,896		44,083

			990,213		997,461

TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year			950,317		953,378
Members' other interests			39,896		44,083

			990,213		997,461

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Page 2

Halycon LLP

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

M Cole

Partner

23/12/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Halycon LLP is a limited liability partnership, incorporated in England & Wales, registered number OC403774 . The Registered Office is 107 Penn Hill Road, Bath, BA1 3RU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	15% reducing balance
Fixtures & Fittings	15% reducing balance
Computer Equipment	15% reducing balance

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 6 (2024: 7)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	160,000

As at 31 March 2025	160,000

Amortisation
As at 1 April 2024	112,000
Provided during the period	16,000

As at 31 March 2025	128,000

...CONTINUED

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Halycon LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025	32,000

As at 1 April 2024	48,000

5. Tangible Assets

	Land & Property
	Freehold	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2024	917,945	50,503	80,386	5,234	1,054,068

As at 31 March 2025	917,945	50,503	80,386	5,234	1,054,068

Depreciation
As at 1 April 2024	-	13,037	52,118	1,859	67,014
Provided during the period	-	4,787	4,240	506	9,533

As at 31 March 2025	-	17,824	56,358	2,365	76,547

Net Book Value
As at 31 March 2025	917,945	32,679	24,028	2,869	977,521

As at 1 April 2024	917,945	37,466	28,268	3,375	987,054

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	19,200
Other debtors	409	14,409

	409	33,609

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	2,359	2,359
Bank loans and overdrafts	-	15,576
Other creditors	35,402	40,284
Taxation and social security	8,430	3,154

	46,191	61,373

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	-	37,741

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