HALCION_EXPRESS_LIMITED - Accounts

HALCION EXPRESS LIMITED - Company Information

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Company Registration No. 01918981 (England and Wales)

HALCION EXPRESS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

HALCION EXPRESS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

HALCION EXPRESS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

29 FEBRUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

333,423

252,500

Investments

4,250

337,673

256,750

Current assets

Debtors

233,098

187,180

Cash at bank and in hand

501,620

419,668

734,718

606,848

Creditors: amounts falling due within one year

(181,907)

(197,422)

Net current assets

552,811

409,426

Total assets less current liabilities

890,484

666,176

Creditors: amounts falling due after more than one year

(115,298)

(13,215)

Provisions for liabilities

(60,016)

(45,888)

715,170

607,073

Capital and reserves

Called up share capital

1,030

1,000

Profit and loss account

714,140

606,073

Shareholders' funds

715,170

607,073

For the financial year ended 29 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 15 June 2016

Mrs M Corrie

Mr A C Corrie

Director

Company Registration No. 01918981

HALCION EXPRESS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% per annum on cost

Fixtures, fittings and equipment

15% per annum on net book value

1.4

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.

1.8

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company has not prepared group accounts as it is exempt from the requirement to do so by section 398 of the Companies Act 2006 as it is a subsiduary undertaking of Halcion Holdings Ltd, a company incorporated in England and Wales.

HALCION EXPRESS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 March 2015

513,593

4,250

517,843

Additions

150,000

Disposals

(20,750)

At 29 February 2016

642,843

4,250

647,093

Depreciation

At 1 March 2015

261,093

On disposals

(19,250)

Charge for the year

67,577

At 29 February 2016

309,420

Net book value

At 29 February 2016

333,423

4,250

337,673

At 28 February 2015

252,500

4,250

256,750

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £37,917 (2015 - £31,770).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £115,298 (2015 - £13,215).

Share capital

2016

2015

Allotted, called up and fully paid

1,000 Ordinary shares of £1 each

1,000

30 Ordinary B shares of £1 each

1,030

1,000

During the year 30 Ordinary B shares of £1 each were allotted and fully paid at par for cash consideration to provide additional working capital.

HALCION EXPRESS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 4 -

Ultimate parent company

The ultimate parent company is Halcion Holdings Limited, a company registered in England and Wales.