Period from 1 September 2017 to
Registration number:
Halcyon Developments Group Limited
Contents
Balance Sheet |
|
Notes to the Financial Statements |
Halcyon Developments Group Limited
Balance Sheet
31 May 2018
Note |
2018 |
2017 |
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
( |
( |
|
Total equity |
( |
( |
For the financial period ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Company Registration Number: 10344601
Page 1 |
Halcyon Developments Group Limited
Notes to the Financial Statements
Period from 1 September 2017 to 31 May 2018
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis as the directors continue to provide financial support to the company with funding from associated businesses that they control, both UK and non-UK.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Page 2 |
Halcyon Developments Group Limited
Notes to the Financial Statements
Period from 1 September 2017 to 31 May 2018
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
Fully amortised in year of acquisition |
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Page 3 |
Halcyon Developments Group Limited
Notes to the Financial Statements
Period from 1 September 2017 to 31 May 2018
Intangible assets |
Goodwill |
Total |
|
Cost or valuation |
||
At 1 September 2017 |
|
|
Additions acquired separately |
|
|
At 31 May 2018 |
|
|
Amortisation |
||
At 1 September 2017 |
|
|
Amortisation charge |
|
|
At 31 May 2018 |
|
|
Carrying amount |
||
At 31 May 2018 |
- |
- |
At 31 August 2017 |
- |
- |
Debtors |
Note |
31 May 2018 |
31 August 2017 |
|
Amounts due from group undertakings |
|
|
|
Other debtors |
|
|
|
Prepayments |
|
- |
|
|
|
Page 4 |
Halcyon Developments Group Limited
Notes to the Financial Statements
Period from 1 September 2017 to 31 May 2018
Creditors |
Creditors: amounts falling due within one year
Note |
31 May 2018 |
31 August 2017 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Amounts due to group undertakings |
|
|
|
Corporation tax |
4,522 |
- |
|
Social security and other taxes |
|
|
|
Other creditors |
- |
|
|
Deferred income and accrued expenses |
|
|
|
|
|
Loans and borrowings |
2018 |
2017 |
|
Current loans and borrowings |
||
Bank overdrafts |
|
|
Other borrowings |
|
- |
|
|
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
|
|
100 |
|
100 |
|
|
|
|
Page 5 |
Halcyon Developments Group Limited
Notes to the Financial Statements
Period from 1 September 2017 to 31 May 2018
Related party transactions |
Advances to directors |
2018 |
At 1 September 2017 |
Advances to director |
Repayments by director |
At 31 May 2018 |
Mr R J Barrasford |
||||
Director's loan (Interest charged at 2.5%) |
14,136 |
|
( |
|
Mr A F Bird |
||||
Directors' loan |
(3,239) |
|
( |
|
2017 |
At 24 August 2016 |
Advances to director |
Repayments by director |
At 31 August 2017 |
Mr R J Barrasford |
||||
Director's loan (Interest charged at 2.5%) |
- |
|
( |
|
Other transactions with directors |
£34,000 of Mr Barrasford's loan was repaid by way of a bonus in February 2019.
Page 6 |