The Halcyon Centre Ltd 31/08/2022 iXBRL

THE HALCYON CENTRE LIMITED - Company Information

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Company registration number: 07344522

The Halcyon Centre Ltd

Unaudited filleted financial statements

31 August 2022

The Halcyon Centre Ltd

Contents

Directors and other information

Statement of financial position

Notes to the financial statements

The Halcyon Centre Ltd

Directors and other information


	Director	C Salisbury


	Company number	07344522


	Registered office	5 Underwood Street
		London
		N1 7LY

The Halcyon Centre Ltd

Statement of financial position

31 August 2022

		2022		2021
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		3,300
Tangible assets	6	10,435		10,874
		_______		_______
			10,435		14,174

Current assets
Debtors	7	172,926		161,193
Cash at bank and in hand		17,669		22,228
		_______		_______
		190,595		183,421
Creditors: amounts falling due
within one year	8	( 41,841)		( 33,815)
		_______		_______
Net current assets			148,754		149,606
			_______		_______
Total assets less current liabilities			159,189		163,780

			_______		_______
Net assets			159,189		163,780
			_______		_______

Capital and reserves
Called up share capital			1		1
Profit and loss account			159,188		163,779
			_______		_______
Shareholder funds			159,189		163,780
			_______		_______

For the year ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 20 April 2023 , and are signed on behalf of the board by:

C Salisbury

Director

Company registration number: 07344522

The Halcyon Centre Ltd

Notes to the financial statements

Year ended 31 August 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Underwood Street, London, N1 7LY.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	estimated useful economic life of 10 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	20 %	straight line
Fittings fixtures and equipment	-	20 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2021: 1 ).

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 September 2021 and 31 August 2022	33,000	33,000
	_______	_______
Amortisation
At 1 September 2021	29,700	29,700
Charge for the year	3,300	3,300
	_______	_______
At 31 August 2022	33,000	33,000
	_______	_______
Carrying amount
At 31 August 2022	-	-
	_______	_______
At 31 August 2021	3,300	3,300
	_______	_______

6. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Total
	£	£	£
Cost
At 1 September 2021	23,580	363	23,943
Additions	4,189	-	4,189
	_______	_______	_______
At 31 August 2022	27,769	363	28,132
	_______	_______	_______
Depreciation
At 1 September 2021	12,996	73	13,069
Charge for the year	4,555	73	4,628
	_______	_______	_______
At 31 August 2022	17,551	146	17,697
	_______	_______	_______
Carrying amount
At 31 August 2022	10,218	217	10,435
	_______	_______	_______
At 31 August 2021	10,584	290	10,874
	_______	_______	_______

7. Debtors

	2022	2021
	£	£
Trade debtors	18,942	17,040
Other debtors	153,984	144,153
	_______	_______
	172,926	161,193
	_______	_______

8. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	10,488	3,894
Corporation tax	19,253	16,825
Social security and other taxes	12,100	13,096
	_______	_______
	41,841	33,815
	_______	_______

9. Related party transactions

At the balance sheet date, £142,323 (2021: £142,125) was owed to the reporting entity by Tighnua Limited, a company registered in England and Wales, which the director is also a shareholder and is included within debtors falling due within one year.