Silverfin false 31/01/2023 01/02/2022 31/01/2023 Mr T H Dunn 17/01/2019 20 October 2023 The principal activity of the Company during the financial year was that of raising horses and other equines for resale and racing events. 11773879 2023-01-31 11773879 bus:Director1 2023-01-31 11773879 2022-01-31 11773879 core:CurrentFinancialInstruments 2023-01-31 11773879 core:CurrentFinancialInstruments 2022-01-31 11773879 core:ShareCapital 2023-01-31 11773879 core:ShareCapital 2022-01-31 11773879 core:RetainedEarningsAccumulatedLosses 2023-01-31 11773879 core:RetainedEarningsAccumulatedLosses 2022-01-31 11773879 bus:OrdinaryShareClass1 2023-01-31 11773879 2022-02-01 2023-01-31 11773879 bus:FullAccounts 2022-02-01 2023-01-31 11773879 bus:SmallEntities 2022-02-01 2023-01-31 11773879 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 11773879 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 11773879 bus:Director1 2022-02-01 2023-01-31 11773879 2021-02-01 2022-01-31 11773879 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 11773879 bus:OrdinaryShareClass1 2021-02-01 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11773879 (England and Wales)

HELIUM RACING LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2023
Pages for filing with the registrar

HELIUM RACING LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2023

Contents

HELIUM RACING LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2023
HELIUM RACING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2023
DIRECTOR Mr T H Dunn
REGISTERED OFFICE The Gallops
West Buckland
Wellington
TA21 9LE
United Kingdom
COMPANY NUMBER 11773879 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
HELIUM RACING LIMITED

BALANCE SHEET

As at 31 January 2023
HELIUM RACING LIMITED

BALANCE SHEET (continued)

As at 31 January 2023
Note 2023 2022
£ £
Current assets
Stocks 3 40,240 40,240
Debtors 4 1,301 1,810
Cash at bank and in hand 6,024 2,115
47,565 44,165
Creditors: amounts falling due within one year 5 ( 123,467) ( 116,535)
Net current liabilities (75,902) (72,370)
Total assets less current liabilities (75,902) (72,370)
Net liabilities ( 75,902) ( 72,370)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 76,002 ) ( 72,470 )
Total shareholders' deficit ( 75,902) ( 72,370)

For the financial year ending 31 January 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Helium Racing Limited (registered number: 11773879) were approved and authorised for issue by the Director on 20 October 2023. They were signed on its behalf by:

Mr T H Dunn
Director
HELIUM RACING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
HELIUM RACING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Helium Racing Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Gallops, West Buckland, Wellington, TA21 9LE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There are no material departures from FRS102.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

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 value added tax, returns, rebates and discounts within the company.

Stocks

The cost of stocks comprises livestock, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Stocks

2023 2022
£ £
Stocks 40,240 40,240

4. Debtors

2023 2022
£ £
VAT recoverable 1,101 807
Other debtors 200 1,003
1,301 1,810

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,823 2,100
Other creditors 121,644 114,435
123,467 116,535

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Other related party transactions

2023 2022
£ £
Amounts payable to related party 0 7,026

Alexandra Dunn Racing Limited - a company owned and controlled by a director's wife.

During the period, the company made purchases totalling £Nil (2022: £7,026.38) for services provided by Alexandra Dunn Racing Limited. The balance due to Alexandra Dunn Racing Limited is included in trade creditors at the period end as disclosed above. All transactions were conducted at an arm's length and under normal business credit terms.