REGISTERED NUMBER: 10180246 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2025

FOR

Halcyon Living 111 Limited

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

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:

10180246 (England and Wales)

SENIOR STATUTORY AUDITOR:

Rocky Bharj F.C.C.A.

AUDITORS:

TAXAUDIT ACCOUNTANTS LTD

Chartered Certified Accountants

Registered Auditors

The Grange,

1 Central Road,

Morden

SM4 5PQ

The directors present their strategic report for the year ended 29 June 2025.

REVIEW OF BUSINESS

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

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' expect to maintain the level of activity for the foreseeable future.

The turnover for the year 29 June,2025 is in line with the expectations of the board and is satisfied that,with tight control of margins generated,and careful control of overhead costs,profitability will continue at satisfactory level.

The directors are not aware of any major changes in the company's principal activities in the year ahead.

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:

N Pradhan - Director

26 June 2026

The directors present their report with the financial statements of the company for the year ended 29 June 2025.

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 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 30 June 2024 to the date of this report.

Z A Pradhan

N Pradhan

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:

N Pradhan - Director

26 June 2026

Opinion

We have audited the financial statements of Halcyon Living 111 Limited (the 'company') for the year ended 29 June 2025 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 2025 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.

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.

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.

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

The Grange,

1 Central Road,

Morden

SM4 5PQ

26 June 2026

TURNOVER

5,939,745

5,593,122

Cost of sales

3,351,576

3,092,139

GROSS PROFIT

2,588,169

2,500,983

Administrative expenses

1,146,689

1,115,290

1,441,480

1,385,693

Other operating income

50,578

38,582

OPERATING PROFIT

4

1,492,058

1,424,275

Interest receivable and similar income

8

615

1,492,066

1,424,890

Interest payable and similar expenses

5

240,340

257,429

PROFIT BEFORE TAXATION

1,251,726

1,167,461

Tax on profit

6

315,275

306,175

PROFIT FOR THE FINANCIAL YEAR

936,451

861,286

PROFIT FOR THE YEAR

936,451

861,286

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

936,451

861,286

FIXED ASSETS

Intangible assets

7

-

-

Tangible assets

8

2,679,212

2,569,260

Investments

9

50,000

50,000

Investment property

10

539,444

539,444

3,268,656

3,158,704

CURRENT ASSETS

Debtors

11

6,108,522

5,394,350

Cash at bank and in hand

93,012

209,448

6,201,534

5,603,798

CREDITORS

Amounts falling due within one year

12

1,574,330

1,613,060

NET CURRENT ASSETS

4,627,204

3,990,738

TOTAL ASSETS LESS CURRENT LIABILITIES

7,895,860

7,149,442

CREDITORS

Amounts falling due after more than one year

13

2,361,864

2,551,897

NET ASSETS

5,533,996

4,597,545

CAPITAL AND RESERVES

Called up share capital

16

1,000

1,000

Retained earnings

17

5,532,996

4,596,545

SHAREHOLDERS' FUNDS

5,533,996

4,597,545

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2026 and were signed on its behalf by:

N Pradhan - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 30 June 2023

1,000

3,735,259

3,736,259

Changes in equity

Total comprehensive income

-

861,286

861,286

Balance at 29 June 2024

1,000

4,596,545

4,597,545

Changes in equity

Total comprehensive income

-

936,451

936,451

Balance at 29 June 2025

1,000

5,532,996

5,533,996

Cash flows from operating activities

Cash generated from operations

1

1,568,965

3,552,024

Interest paid

(240,340

)

(257,429

)

Tax paid

(304,350

)

(189,655

)

Net cash from operating activities

1,024,275

3,104,940

Cash flows from investing activities

Purchase of tangible fixed assets

(237,168

)

(116,593

)

Sale of tangible fixed assets

-

5,400

Interest received

8

615

Net cash from investing activities

(237,160

)

(110,578

)

Cash flows from financing activities

Other loan repayments in year

(904,408

)

(3,159,184

)

Net cash from financing activities

(904,408

)

(3,159,184

)

Decrease in cash and cash equivalents

(117,293

)

(164,822

)

Cash and cash equivalents at beginning of year

2

198,933

363,755

Cash and cash equivalents at end of year

2

81,640

198,933

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

29.6.25

29.6.24

£

£

Profit before taxation

1,251,726

1,167,461

Depreciation charges

127,217

133,227

Profit on disposal of fixed assets

-

(1,840

)

Finance costs

240,340

257,429

Finance income

(8

)

(615

)

1,619,275

1,555,662

Decrease in trade and other debtors

15,174

2,030,892

Decrease in trade and other creditors

(65,484

)

(34,530

)

Cash generated from operations

1,568,965

3,552,024

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 2025

29.6.25

30.6.24

£

£

Cash and cash equivalents

93,012

209,448

Bank overdrafts

(11,372

)

(10,515

)

81,640

198,933

Year ended 29 June 2024

29.6.24

30.6.23

£

£

Cash and cash equivalents

209,448

372,431

Bank overdrafts

(10,515

)

(8,676

)

198,933

363,755

3.	ANALYSIS OF CHANGES IN NET DEBT

At 30.6.24

Cash flow

At 29.6.25

£

£

£

Net cash

Cash at bank and in hand

209,448

(116,436

)

93,012

Bank overdrafts

(10,515

)

(857

)

(11,372

)

198,933

(117,293

)

81,640

Debt

Debts falling due within 1 year

(550,177

)

(14,972

)

(565,149

)

Debts falling due after 1 year

(2,551,897

)

190,033

(2,361,864

)

(3,102,074

)

175,061

(2,927,013

)

Total

(2,903,141

)

57,768

(2,845,373

)

1.	STATUTORY INFORMATION

Halcyon Living 111 Limited 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 Company 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.

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

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 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.

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

29.6.25

29.6.24

£

£

Wages and salaries

2,911,608

2,680,490

Social security costs

238,964

201,186

Other pension costs

38,645

40,111

3,189,217

2,921,787

The average number of employees during the year was as follows:

29.6.25

29.6.24

Administration, management & finance

8

10

Care and Nursing

100

110

Kitchen and other services

12

14

120

134

29.6.25

29.6.24

£

£

Directors' remuneration

42,000

42,000

4.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

29.6.25

29.6.24

£

£

Depreciation - owned assets

127,216

133,225

Profit on disposal of fixed assets

-

(1,840

)

Auditors' remuneration

9,600

9,600

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

29.6.25

29.6.24

£

£

Bank loan interest

240,340

257,429

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

29.6.25

29.6.24

£

£

Current tax:

UK corporation tax

315,275

306,175

Tax on profit

315,275

306,175

UK corporation tax has been charged at 25% (2024 - 25%).

7.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 30 June 2024

and 29 June 2025

41,997

AMORTISATION

At 30 June 2024

and 29 June 2025

41,997

NET BOOK VALUE

At 29 June 2025

-

At 29 June 2024

-

8.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 30 June 2024

1,616,066

779,707

157,435

Additions

107,857

50,407

513

At 29 June 2025

1,723,923

830,114

157,948

DEPRECIATION

At 30 June 2024

123,224

31,093

112,846

Charge for year

17,239

8,302

11,275

At 29 June 2025

140,463

39,395

124,121

NET BOOK VALUE

At 29 June 2025

1,583,460

790,719

33,827

At 29 June 2024

1,492,842

748,614

44,589

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 30 June 2024

680,026

44,810

39,999

3,318,043

Additions

76,465

-

1,926

237,168

At 29 June 2025

756,491

44,810

41,925

3,555,211

DEPRECIATION

At 30 June 2024

447,329

11,203

23,088

748,783

Charge for year

77,290

8,401

4,709

127,216

At 29 June 2025

524,619

19,604

27,797

875,999

NET BOOK VALUE

At 29 June 2025

231,872

25,206

14,128

2,679,212

At 29 June 2024

232,697

33,607

16,911

2,569,260

9.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 30 June 2024

and 29 June 2025

50,000

NET BOOK VALUE

At 29 June 2025

50,000

At 29 June 2024

50,000

10.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 30 June 2024

and 29 June 2025

539,444

NET BOOK VALUE

At 29 June 2025

539,444

At 29 June 2024

539,444