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Registration number: 04213167

Helios Homoeopathy Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Helios Homoeopathy Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Helios Homoeopathy Limited

Company Information

Directors

Mr John Lee

Ms Roz Buckfield

Ms Janet Weddell

Mr Roger Haddon

Mrs Maya Morgan

Mr John Morgan

Registered office

97 Camden Road
Tunbridge Wells
Kent
TN1 2QR

Accountants

Melrose Accountants
62 Florence Road
Brighton
East Sussex
BN1 6DJ

 

Helios Homoeopathy Limited

(Registration number: 04213167)
Statement of Financial Position as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

62,157

16,153

Investments

5

1,272,285

-

 

1,334,442

16,153

Current assets

 

Stocks

6

559,819

332,348

Debtors

7

695,159

771,065

Cash at bank and in hand

 

387,445

1,409,316

 

1,642,423

2,512,729

Creditors: Amounts falling due within one year

8

(477,637)

(332,861)

Net current assets

 

1,164,786

2,179,868

Total assets less current liabilities

 

2,499,228

2,196,021

Provisions for liabilities

(9,690)

-

Net assets

 

2,489,538

2,196,021

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

2,489,438

2,195,921

Shareholders' funds

 

2,489,538

2,196,021

For the financial year ending 30 June 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

 

Helios Homoeopathy Limited

(Registration number: 04213167)
Statement of Financial Position as at 30 June 2023

Approved and authorised by the Board on 11 October 2023 and signed on its behalf by:
 

.........................................
Mr John Morgan
Director

 

Helios Homoeopathy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
97 Camden Road
Tunbridge Wells
Kent
TN1 2QR

These financial statements were authorised for issue by the Board on 11 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are translated at the exchange rate ruling at the date of the transaction, or, where forward cover has been arranged, at the contractual rate. Monetary assets and liabilities denominated in foreign currencies are retranslated at the exchange rates ruling at the balance sheet date or at a contractual rate if applicable and any exchange differences arising are taken to the profit and loss account in the season to which the contract relates.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Helios Homoeopathy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Except where otherwise required by accounting standards, full provision without discounting is made for all timing differences, which have arisen but not reversed at the balance sheet date. Deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33% straight line

Motor vehicles

25% straight line

Leasehold improvements

over the term of the lease

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Helios Homoeopathy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits as incurred.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 79 (2022 - 79).

 

Helios Homoeopathy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

37,650

438,998

27,550

504,198

Additions

-

57,203

-

57,203

At 30 June 2023

37,650

496,201

27,550

561,401

Depreciation

At 1 July 2022

37,650

422,845

27,550

488,045

Charge for the year

-

11,199

-

11,199

At 30 June 2023

37,650

434,044

27,550

499,244

Carrying amount

At 30 June 2023

-

62,157

-

62,157

At 30 June 2022

-

16,153

-

16,153

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of short leasehold land and buildings.
 

5

Investments

2023
£

2022
£

Investments in subsidiaries

1,272,285

-

Subsidiaries

£

Cost or valuation

Additions

1,272,285

Provision

Carrying amount

At 30 June 2023

1,272,285

 

Helios Homoeopathy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Stocks

2023
£

2022
£

Other inventories

559,819

332,348

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

135,956

161,815

Amounts owed by related parties

509,000

553,000

Prepayments

 

33,703

47,250

Other debtors

 

16,500

9,000

   

695,159

771,065

 

Helios Homoeopathy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

trade creditors

 

145,644

80,709

Amounts owed to group undertakings and undertakings in which the company has a participating interest

100,000

-

Taxation and social security

 

110,729

114,101

Accruals and deferred income

 

22,980

23,219

Other creditors

 

10,098

11,564

Income tax liability

 

88,186

103,268

 

477,637

332,861

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

ordinary shares of £1 each

100

100

100

100

         

10

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £870.00 (2022 - £1,290.00) per each ordinary shares

 

87,000

 

129,000

         

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £380,550 (2022 - £471,307).