Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31222022-04-01falseNo description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 4193051 2022-04-01 2023-03-31 4193051 2021-04-01 2022-03-31 4193051 2023-03-31 4193051 2022-03-31 4193051 c:Director2 2022-04-01 2023-03-31 4193051 d:PlantMachinery 2022-04-01 2023-03-31 4193051 d:PlantMachinery 2023-03-31 4193051 d:PlantMachinery 2022-03-31 4193051 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 4193051 d:CurrentFinancialInstruments 2023-03-31 4193051 d:CurrentFinancialInstruments 2022-03-31 4193051 d:Non-currentFinancialInstruments 2023-03-31 4193051 d:Non-currentFinancialInstruments 2022-03-31 4193051 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 4193051 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 4193051 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 4193051 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 4193051 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 4193051 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 4193051 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 4193051 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 4193051 d:ShareCapital 2023-03-31 4193051 d:ShareCapital 2022-03-31 4193051 d:RetainedEarningsAccumulatedLosses 2023-03-31 4193051 d:RetainedEarningsAccumulatedLosses 2022-03-31 4193051 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 4193051 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 4193051 c:OrdinaryShareClass1 2022-04-01 2023-03-31 4193051 c:OrdinaryShareClass1 2023-03-31 4193051 c:OrdinaryShareClass1 2022-03-31 4193051 c:FRS102 2022-04-01 2023-03-31 4193051 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 4193051 c:FullAccounts 2022-04-01 2023-03-31 4193051 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 4193051 2 2022-04-01 2023-03-31 4193051 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 4193051 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 4193051










HELICAL SYSTEMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023



 
HELICAL SYSTEMS LIMITED
REGISTERED NUMBER: 4193051

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,632
7,188

Current assets
  

Stocks
  
146,095
165,349

Debtors: amounts falling due within one year
 5 
52,761
28,463

Cash at bank and in hand
 6 
60,652
91,342

  
259,508
285,154

Creditors: amounts falling due within one year
 7 
(215,044)
(249,014)

Net current assets
  
 
 
44,464
 
 
36,140

Total assets less current liabilities
  
50,096
43,328

Creditors: amounts falling due after more than one year
 8 
(32,305)
(36,667)

Provisions for liabilities
  

Deferred tax
 11 
(1,070)
(1,366)

  
 
 
(1,070)
 
 
(1,366)

Net assets
  
16,721
5,295


Capital and reserves
  

Called up share capital 
 12 
2
2

Profit and loss account
  
16,719
5,293

  
16,721
5,295


Page 1

 
HELICAL SYSTEMS LIMITED
REGISTERED NUMBER: 4193051

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J M Cannon
Director

Date: 7 November 2023

Page 2

 
HELICAL SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
1.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
HELICAL SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.Accounting policies (continued)

 
1.6

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
1.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Page 4

 
HELICAL SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.Accounting policies (continued)

 
1.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
1.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 5

 
HELICAL SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.Accounting policies (continued)

 
1.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


General information

Helical Systems Limited is a limited company incorporated in England and Wales. The Company’s principal place of business is The Old Police Station, 195 Main Road, Biggin Hill, Kent, TN16 3JU.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Plant & machinery

£



Cost or valuation


At 1 April 2022
46,889


Additions
291



At 31 March 2023

47,180



Depreciation


At 1 April 2022
39,701


Charge for the year on owned assets
1,847



At 31 March 2023

41,548



Net book value



At 31 March 2023
5,632



At 31 March 2022
7,188

Page 6

 
HELICAL SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
31,934
12,690

Other debtors
20,827
15,773

52,761
28,463



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
60,652
91,342



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,352
10,000

Trade creditors
19,802
49,749

Taxation and social security
21,462
5,940

Directors' loan account
162,328
155,915

Other creditors
2,100
27,410

215,044
249,014



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
32,305
36,667


Page 7

 
HELICAL SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
9,352
10,000

Amounts falling due 1-2 years

Bank loans
10,202
10,000

Amounts falling due 2-5 years

Bank loans
22,104
26,667


41,658
46,667



10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
60,652
91,342




Financial assets measured at fair value through profit or loss comprise cash held.


11.


Deferred taxation




2023


£






At beginning of year
(1,366)


Charged to profit or loss
296



At end of year
(1,070)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(1,070)
(1,366)

Page 8

 
HELICAL SYSTEMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



Page 9