Company registration number 03749489 (England and Wales)
HELIX SPRING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
PAGES FOR FILING WITH REGISTRAR
HELIX SPRING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HELIX SPRING LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2022
30 November 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
234,616
199,663
Current assets
Debtors
4
94,064
130,357
Cash at bank and in hand
5,436
9,259
99,500
139,616
Creditors: amounts falling due within one year
5
(222,942)
(315,590)
Net current liabilities
(123,442)
(175,974)
Net assets
111,174
23,689
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
111,172
23,687
Total equity
111,174
23,689
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 29 November 2023
D Trickett
Director
Company Registration No. 03749489
HELIX SPRING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
- 2 -
1
Accounting policies
Company information
Helix Spring Limited is a private company limited by shares incorporated in England and Wales. The registered office is Newline Industrial Estate, Newline, Bacup, Lancashire, United Kingdom, OL13 9RW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
10% reducing balance basis
Fixtures and fittings
10% straight line basis
Motor vehicles
25% reducing balance basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
HELIX SPRING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2022
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2021
203,926
4,157
1,500
209,583
Additions
36,091
36,091
At 30 November 2022
240,017
4,157
1,500
245,674
Depreciation and impairment
At 1 December 2021
6,092
3,328
500
9,920
Depreciation charged in the year
347
416
375
1,138
At 30 November 2022
6,439
3,744
875
11,058
Carrying amount
At 30 November 2022
233,578
413
625
234,616
At 30 November 2021
197,834
829
1,000
199,663
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
94,064
130,357
5
Creditors: amounts falling due within one year
2022
2021
£
£
Other loans (secured)
185,000
185,000
Trade creditors
19,471
Taxation and social security
4,501
8,667
Other creditors
12,415
67,710
Accruals and deferred income
21,026
34,742
222,942
315,590
HELIX SPRING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2022
- 4 -
6
Related party transactions
Other related party transactions
During the year the company made the following related party transactions:
MPT Group Pension Scheme
Mr D Trickett is a trustee of the MPT Group Pension Scheme.
On 1 May 2013, the MPT Group Pension Scheme made a loan to Helix Spring Limited of £185,000, as disclosed in note 5 as other loans. Interest is charged on the loan at a rate of 4% per annum.
At the balance sheet date the amount due to MPT Group Pension Scheme was £185,000 (2020 - £185,000) and interest of £19,140.
7
Control
The company is controlled by Mr D Trickett.