HALCYON INTERIORS LIMITED

HALCYON INTERIORS LIMITED - Company Information

2022-04-012023-03-312023-03-31false05453335HALCYON INTERIORS LIMITED2023-07-04iso4217:GBPxbrli:pure054533352022-04-01054533352023-03-31054533352022-04-012023-03-31054533352021-04-01054533352022-03-31054533352021-04-012022-03-3105453335bus:SmallEntities2022-04-012023-03-3105453335bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3105453335bus:FullAccounts2022-04-012023-03-3105453335bus:PrivateLimitedCompanyLtd2022-04-012023-03-3105453335core:WithinOneYear2023-03-3105453335core:AfterOneYear2023-03-3105453335core:WithinOneYear2022-03-3105453335core:AfterOneYear2022-03-3105453335core:ShareCapital2023-03-3105453335core:SharePremium2023-03-3105453335core:RevaluationReserve2023-03-3105453335core:OtherReservesSubtotal2023-03-3105453335core:RetainedEarningsAccumulatedLosses2023-03-3105453335core:ShareCapital2022-03-3105453335core:SharePremium2022-03-3105453335core:RevaluationReserve2022-03-3105453335core:OtherReservesSubtotal2022-03-3105453335core:RetainedEarningsAccumulatedLosses2022-03-3105453335core:LandBuildings2023-03-3105453335core:PlantMachinery2023-03-3105453335core:Vehicles2023-03-3105453335core:FurnitureFittings2023-03-3105453335core:OfficeEquipment2023-03-3105453335core:NetGoodwill2023-03-3105453335core:IntangibleAssetsOtherThanGoodwill2023-03-3105453335core:ListedExchangeTraded2023-03-3105453335core:UnlistedNon-exchangeTraded2023-03-3105453335core:LandBuildings2022-03-3105453335core:PlantMachinery2022-03-3105453335core:Vehicles2022-03-3105453335core:FurnitureFittings2022-03-3105453335core:OfficeEquipment2022-03-3105453335core:NetGoodwill2022-03-3105453335core:IntangibleAssetsOtherThanGoodwill2022-03-3105453335core:ListedExchangeTraded2022-03-3105453335core:UnlistedNon-exchangeTraded2022-03-3105453335core:LandBuildings2022-04-012023-03-3105453335core:PlantMachinery2022-04-012023-03-3105453335core:Vehicles2022-04-012023-03-3105453335core:FurnitureFittings2022-04-012023-03-3105453335core:OfficeEquipment2022-04-012023-03-3105453335core:NetGoodwill2022-04-012023-03-3105453335core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3105453335core:ListedExchangeTraded2022-04-012023-03-3105453335core:UnlistedNon-exchangeTraded2022-04-012023-03-3105453335core:MoreThanFiveYears2022-04-012023-03-3105453335core:Non-currentFinancialInstruments2023-03-3105453335core:Non-currentFinancialInstruments2022-03-3105453335dpl:CostSales2022-04-012023-03-3105453335dpl:DistributionCosts2022-04-012023-03-3105453335core:LandBuildings2022-04-012023-03-3105453335core:PlantMachinery2022-04-012023-03-3105453335core:Vehicles2022-04-012023-03-3105453335core:FurnitureFittings2022-04-012023-03-3105453335core:OfficeEquipment2022-04-012023-03-3105453335dpl:AdministrativeExpenses2022-04-012023-03-3105453335core:NetGoodwill2022-04-012023-03-3105453335core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3105453335dpl:GroupUndertakings2022-04-012023-03-3105453335dpl:ParticipatingInterests2022-04-012023-03-3105453335dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3105453335core:ListedExchangeTraded2022-04-012023-03-3105453335dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3105453335core:UnlistedNon-exchangeTraded2022-04-012023-03-3105453335dpl:CostSales2021-04-012022-03-3105453335dpl:DistributionCosts2021-04-012022-03-3105453335core:LandBuildings2021-04-012022-03-3105453335core:PlantMachinery2021-04-012022-03-3105453335core:Vehicles2021-04-012022-03-3105453335core:FurnitureFittings2021-04-012022-03-3105453335core:OfficeEquipment2021-04-012022-03-3105453335dpl:AdministrativeExpenses2021-04-012022-03-3105453335core:NetGoodwill2021-04-012022-03-3105453335core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3105453335dpl:GroupUndertakings2021-04-012022-03-3105453335dpl:ParticipatingInterests2021-04-012022-03-3105453335dpl:GroupUndertakingscore:ListedExchangeTraded2021-04-012022-03-3105453335core:ListedExchangeTraded2021-04-012022-03-3105453335dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-04-012022-03-3105453335core:UnlistedNon-exchangeTraded2021-04-012022-03-3105453335core:NetGoodwill2023-03-3105453335core:IntangibleAssetsOtherThanGoodwill2023-03-3105453335core:LandBuildings2023-03-3105453335core:PlantMachinery2023-03-3105453335core:Vehicles2023-03-3105453335core:FurnitureFittings2023-03-3105453335core:OfficeEquipment2023-03-3105453335core:AfterOneYear2023-03-3105453335core:WithinOneYear2023-03-3105453335core:ListedExchangeTraded2023-03-3105453335core:UnlistedNon-exchangeTraded2023-03-3105453335core:ShareCapital2023-03-3105453335core:SharePremium2023-03-3105453335core:RevaluationReserve2023-03-3105453335core:OtherReservesSubtotal2023-03-3105453335core:RetainedEarningsAccumulatedLosses2023-03-3105453335core:NetGoodwill2022-03-3105453335core:IntangibleAssetsOtherThanGoodwill2022-03-3105453335core:LandBuildings2022-03-3105453335core:PlantMachinery2022-03-3105453335core:Vehicles2022-03-3105453335core:FurnitureFittings2022-03-3105453335core:OfficeEquipment2022-03-3105453335core:AfterOneYear2022-03-3105453335core:WithinOneYear2022-03-3105453335core:ListedExch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Registered Number
05453335
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

HALCYON INTERIORS LIMITED

Company Information
for the year from 1 April 2022 to 31 March 2023


Directors	GOBEL, Martin
	GOBEL, Stephen
	GOBEL, Susan
	PAXTON, Rebecca Sarah


Registered Address	509 Uxbridge Road
	Pinner
	HA5 4JS


Registered Number	05453335 (England and Wales)

HALCYON INTERIORS LIMITED

Balance Sheet as at
31 March 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Intangible assets	6		1		1
Tangible assets	7		35,317		51,540
			35,318		51,541
Current assets
Stocks	8	277,872		305,662
Debtors	9	84,817		132,572
Cash at bank and on hand		185,328		244,104
		548,017		682,338
Creditors amounts falling due within one year	10	(783,970)		(770,878)
Net current assets (liabilities)			(235,953)		(88,540)
Total assets less current liabilities			(200,635)		(36,999)
Creditors amounts falling due after one year	11		(22,500)		(32,500)
Provisions for liabilities	12		-		(8,812)
Net assets			(223,135)		(78,311)
Capital and reserves
Called up share capital			220		220
Profit and loss account			(223,355)		(78,531)
Shareholders' funds			(223,135)		(78,311)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 4 July 2023, and are signed on its behalf by:

GOBEL, Martin
Director
Registered Company No. 05453335

HALCYON INTERIORS LIMITED

Notes to the Financial Statements
for the year ended 31 March 2023

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Principal activities
	The principal activities of the Company is that of Kitchen designers and installers.

4.	Accounting policies

	Functional and presentation currency policy
	The financial statements are presented in pound sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied
and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have
transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured
reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred
or to be incurred in respect of the transactions can be measured reliably.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Land and buildings	10
	Plant and machinery	4
	Fixtures and fittings	4
	Vehicles	4
	Office Equipment	4

	Intangible assets policy
	Goodwill is amortised over its useful life of 10 years.

	Stocks policy
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Taxation policy
	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.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Government grants and other government assistance policy
	Government grants are recognised in the period to which they relate.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Going concern
	The financial statements have been prepared on the going concern basis. The directors have considered the current financial position of the company. Whilst the company has made losses during the year and there are accumulated losses of £ 261,092 at the balance sheet date and the company has net current liabilities of £ 316,904 this include amounts provided by the Directors of £317,752. The Directors have confirmed that they will not withdraw these sums until such time as the Company is in a position to repay these. Having considered the cash requirements of the business the directors are of the opinion that the company has sufficient resources to enable it to continue trading for at least 12 months from the approval of these financial statements.

Going concern

The financial statements have been prepared on the going concern basis. The directors have considered the current financial position of the company. Whilst the company has made losses during the year and there are accumulated losses of £ 261,092 at the balance sheet date and the company has net current liabilities of £ 316,904 this include amounts provided by the Directors of £317,752. The Directors have confirmed that they will not withdraw these sums until such time as the Company is in a position to repay these. Having considered the cash requirements of the business the directors are of the opinion that the company has sufficient resources to enable it to continue trading for at least 12 months from the approval of these financial statements.

5.	Employee information


		2023		2022
	Average number of employees during the year	13		12

6.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 22	375,000	375,000
At 31 March 23	375,000	375,000
Amortisation and impairment
At 01 April 22	374,999	374,999
At 31 March 23	374,999	374,999
Net book value
At 31 March 23	1	1
At 31 March 22	1	1

7.	Property, plant and equipment

	Land & buildings	Vehicles	Fixtures & fittings	Total
	£	£	£	£
Cost or valuation
At 01 April 22	21,500	109,241	16,471	147,212
Additions	-	-	2,679	2,679
At 31 March 23	21,500	109,241	19,150	149,891
Depreciation and impairment
At 01 April 22	21,499	67,241	6,932	95,672
Charge for year	-	13,998	4,904	18,902
At 31 March 23	21,499	81,239	11,836	114,574
Net book value
At 31 March 23	1	28,002	7,314	35,317
At 31 March 22	1	42,000	9,539	51,540

8.	Stocks

	2023	2022
	£	£
Finished goods	277,872	305,662
Total	277,872	305,662

9.	Debtors

	2023	2022
	£	£
Trade debtors / trade receivables	37,007	33,620
Other debtors	12,167	29,476
Prepayments and accrued income	35,643	69,476
Total	84,817	132,572


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

10.	Creditors within one year

	2023	2022
	£	£
Trade creditors / trade payables	354,725	337,547
Bank borrowings and overdrafts	10,000	10,000
Taxation and social security	92,485	115,222
Other creditors	320,260	302,110
Accrued liabilities and deferred income	6,500	5,999
Total	783,970	770,878


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

11.	Creditors after one year

	2023	2022
	£	£
Bank borrowings and overdrafts	22,500	32,500
Total	22,500	32,500

12.	Provisions for liabilities

	2023	2022
	£	£
Net deferred tax liability (asset)	-	8,812
Total	-	8,812