Haelan Centre Ltd 31/03/2023 iXBRL

Haelan Centre Ltd 31/03/2023 iXBRL

HAELAN CENTRE LIMITED - Company Information

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19 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04701730 2022-04-01 2023-03-31 04701730 2023-03-31 04701730 2022-03-31 04701730 2021-04-01 2022-03-31 04701730 2022-03-31 04701730 2021-03-31 04701730 core:PlantMachinery 2022-04-01 2023-03-31 04701730 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 04701730 core:MotorVehicles 2022-04-01 2023-03-31 04701730 bus:RegisteredOffice 2022-04-01 2023-03-31 04701730 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 04701730 bus:Director2 2022-04-01 2023-03-31 04701730 bus:Director3 2022-04-01 2023-03-31 04701730 bus:CompanySecretary1 2022-04-01 2023-03-31 04701730 core:NetGoodwill 2023-03-31 04701730 core:LandBuildings core:ShortLeaseholdAssets 2022-03-31 04701730 core:PlantMachinery 2022-03-31 04701730 core:FurnitureFittingsToolsEquipment 2022-03-31 04701730 core:MotorVehicles 2022-03-31 04701730 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 04701730 core:PlantMachinery 2023-03-31 04701730 core:FurnitureFittingsToolsEquipment 2023-03-31 04701730 core:MotorVehicles 2023-03-31 04701730 core:WithinOneYear 2023-03-31 04701730 core:WithinOneYear 2022-03-31 04701730 core:AfterOneYear 2023-03-31 04701730 core:AfterOneYear 2022-03-31 04701730 core:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 04701730 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 04701730 core:ShareCapital 2023-03-31 04701730 core:ShareCapital 2022-03-31 04701730 core:RetainedEarningsAccumulatedLosses 2023-03-31 04701730 core:RetainedEarningsAccumulatedLosses 2022-03-31 04701730 core:ShareCapital 2021-03-31 04701730 core:RetainedEarningsAccumulatedLosses 2021-03-31 04701730 core:LandBuildings core:ShortLeaseholdAssets 2022-04-01 2023-03-31 04701730 core:NetGoodwill 2022-03-31 04701730 core:LandBuildings core:ShortLeaseholdAssets 2022-03-31 04701730 core:PlantMachinery 2022-03-31 04701730 core:FurnitureFittingsToolsEquipment 2022-03-31 04701730 core:MotorVehicles 2022-03-31 04701730 bus:SmallEntities 2022-04-01 2023-03-31 04701730 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04701730 bus:FullAccounts 2022-04-01 2023-03-31 04701730 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 04701730 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
Company registration number: 04701730
Haelan Centre Ltd
Unaudited filleted financial statements
31 March 2023
Haelan Centre Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Haelan Centre Ltd
Directors and other information
Directors
D. Krahn
J . Krahn
Secretary D. Krahn
Company number 04701730
Registered office 41 The Broadway
Crouch End
London
N8 8DT
Business address 41 The Broadway
Crouch End
London
N8 8DT
Accountants Johal Stott & Co
10 Dartmouth Park Hill
London
NW5 1HL
Haelan Centre Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Haelan Centre Ltd
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Haelan Centre Ltd for the year ended 31 March 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf.
Johal Stott & Co
Chartered Certified Accountants
10 Dartmouth Park Hill
London
NW5 1HL
Haelan Centre Ltd
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 103,531 85,212
_______ _______
103,531 85,212
Current assets
Stocks 184,550 192,200
Debtors 7 78,526 82,101
Cash at bank and in hand 46,921 91,256
_______ _______
309,997 365,557
Creditors: amounts falling due
within one year 8 ( 304,740) ( 276,111)
_______ _______
Net current assets 5,257 89,446
_______ _______
Total assets less current liabilities 108,788 174,658
Creditors: amounts falling due
after more than one year 9 ( 31,667) ( 33,667)
_______ _______
Net assets 77,121 140,991
_______ _______
Capital and reserves
Called up share capital 153 153
Profit and loss account 76,968 140,838
_______ _______
Shareholder funds 77,121 140,991
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 04 December 2023 , and are signed on behalf of the board by:
J . Krahn
Director
Haelan Centre Ltd
Statement of changes in equity
Year ended 31 March 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2021 153 148,230 148,383
Profit for the year 120,107 120,107
_______ _______ _______
Total comprehensive income for the year - 120,107 120,107
Dividends paid and payable ( 127,499) ( 127,499)
_______ _______ _______
Total investments by and distributions to owners - ( 127,499) ( 127,499)
_______ _______ _______
At 31 March 2022 and 1 April 2022 153 140,838 140,991
Profit for the year 63,081 63,081
_______ _______ _______
Total comprehensive income for the year - 63,081 63,081
Dividends paid and payable ( 126,951) ( 126,951)
_______ _______ _______
Total investments by and distributions to owners - ( 126,951) ( 126,951)
_______ _______ _______
At 31 March 2023 153 76,968 77,121
_______ _______ _______
Haelan Centre Ltd
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 41 The Broadway, Crouch End, London, N8 8DT.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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 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.
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
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:
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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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 - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
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 or 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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 19 (2022: 27 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2022 and 31 March 2023 155,340 155,340
_______ _______
Amortisation
At 1 April 2022 and 31 March 2023 155,340 155,340
_______ _______
Carrying amount
At 31 March 2023 - -
_______ _______
At 31 March 2022 - -
_______ _______
6. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 April 2022 116,138 89,012 222,571 47,042 474,763
Additions 8,488 34,560 6,605 - 49,653
_______ _______ _______ _______ _______
At 31 March 2023 124,626 123,572 229,176 47,042 524,416
_______ _______ _______ _______ _______
Depreciation
At 1 April 2022 109,614 59,403 193,338 27,196 389,551
Charge for the year 1,373 16,041 8,959 4,961 31,334
_______ _______ _______ _______ _______
At 31 March 2023 110,987 75,444 202,297 32,157 420,885
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2023 13,639 48,128 26,879 14,885 103,531
_______ _______ _______ _______ _______
At 31 March 2022 6,524 29,609 29,233 19,846 85,212
_______ _______ _______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors 7,919 6,072
Other debtors 70,607 76,029
_______ _______
78,526 82,101
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 25,620 8,000
Trade creditors 223,160 192,901
Corporation tax 33,727 35,158
Social security and other taxes 12,769 26,193
Other creditors 9,464 13,859
_______ _______
304,740 276,111
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 31,667 33,667
_______ _______
10. Directors advances, credits and guarantees
None of the directors had overdrawn loan account.