Halcyon Care Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03815046 (England and Wales)

HALCYON CARE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

K S K Lalji

A S Pradhan

Mrs N Pradhan

Mrs K Lalji

SECRETARY:

K S K Lalji

REGISTERED OFFICE:

27-29 Lumley Avenue

Skegness

Lincolnshire

PE25 2AT

REGISTERED NUMBER:

03815046 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

27-29 Lumley Avenue

Skegness

Lincolnshire

PE25 2AT

BANKERS:

Royal Bank of Scotland

2 Stephenson Place

Chesterfield

Derbyshire

S40 1XL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,439,313

1,440,016

1,439,313

1,440,016

CURRENT ASSETS

Stocks

5,850

5,725

Debtors

6

315,296

255,853

Cash at bank and in hand

395,564

545,734

716,710

807,312

CREDITORS

Amounts falling due within one year

7

898,379

916,209

NET CURRENT LIABILITIES

(181,669

)

(108,897

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,257,644

1,331,119

CREDITORS

Amounts falling due after more than one year

8

(487,122

)

(579,411

)

PROVISIONS FOR LIABILITIES

(12,306

)

(15,623

)

NET ASSETS

758,216

736,085

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

758,116

735,985

SHAREHOLDERS' FUNDS

758,216

736,085

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 16 September 2019 and were signed on its behalf by:

K S K Lalji - Director

1.	STATUTORY INFORMATION

Halcyon Care 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Purchased goodwill acquired in 2004 has been fully amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

15% on reducing balance and Property - 2% on cost to residual value

Plant and machinery etc

-

33% on cost, 25% on cost, 20% on reducing balance, 15% on reducing balance and 10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Taxation

Taxation for the year ended 31 December 2018 comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings 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 that have been enacted or

substantively enacted by the 31 December 2018.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the 31 December

2018 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 the financial statements. Deferred tax is measured using tax rates and laws that have been

enacted or substantively enacted by the 31 December 2018 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.

Government grants

Capital grants - the income received is deferred and released over the life of the asset.

Revenue grant - the income received is recognised on receipt.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 128 (2017 - 125 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2018

and 31 December 2018

400,000

AMORTISATION

At 1 January 2018

and 31 December 2018

400,000

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2018

1,586,971

506,671

2,093,642

Additions

-

60,306

60,306

At 31 December 2018

1,586,971

566,977

2,153,948

DEPRECIATION

At 1 January 2018

257,439

396,187

653,626

Charge for year

22,039

38,970

61,009

At 31 December 2018

279,478

435,157

714,635

NET BOOK VALUE

At 31 December 2018

1,307,493

131,820

1,439,313

At 31 December 2017

1,329,532

110,484

1,440,016

Included in cost of land and buildings is freehold land of £ 485,000 (2017 - £ 485,000 ) which is not depreciated.

In the opinion of the directors the tangible fixed assets carried forward at historical cost are significantly undervalued.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

211,035

246,515

Other debtors

104,261

9,338

315,296

255,853

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

91,896

91,896

Trade creditors

32,168

53,352

Taxation and social security

133,246

149,877

Other creditors

641,069

621,084

898,379

916,209

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

487,122

579,411

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans - more than 5 years

125,538

217,827

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans and overdraft

579,018

671,307

The bank loans are secured by a fixed charge over property owned by the company.