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Registration number: 02936358

Helionix Group Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Helionix Group Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Helionix Group Limited

Company Information

Directors

A Gould

Mrs D E Gould

Registered office

Furnace Brook Fishery
Trolliloes
Cowbeech
Hailsham
East Sussex
BN27 4QR

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

Helionix Group Limited

(Registration number: 02936358)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

300

300

Tangible assets

5

80,836

82,295

Investments

6

100

100

Other financial assets

7

148

148

 

81,384

82,843

Current assets

 

Stocks

8

1,500

2,000

Debtors

9

65,210

357,598

Cash at bank and in hand

 

4,372

8,969

 

71,082

368,567

Creditors: Amounts falling due within one year

10

(1,597,063)

(1,837,848)

Net current liabilities

 

(1,525,981)

(1,469,281)

Net liabilities

 

(1,444,597)

(1,386,438)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(1,444,697)

(1,386,538)

Shareholders' deficit

 

(1,444,597)

(1,386,438)

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 February 2024 and signed on its behalf by:
 

 

Helionix Group Limited

(Registration number: 02936358)
Balance Sheet as at 30 June 2023

.........................................
A Gould
Director

 

Helionix Group 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:
Furnace Brook Fishery
Trolliloes
Cowbeech
Hailsham
East Sussex
BN27 4QR

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis. The directors have confirmed their continued support of the company.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet 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.

 

Helionix Group Limited

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

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

Land and buildings

Not depreciated

Plant and machinery

10% reducing balance

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.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents

not depreciated

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.

 

Helionix Group Limited

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

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 at the transaction price, 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.

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 at the transaction price.

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.

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 4 (2022 - 6).

 

Helionix Group Limited

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

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 July 2022

300

300

At 30 June 2023

300

300

Amortisation

Carrying amount

At 30 June 2023

300

300

At 30 June 2022

300

300

5

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

67,679

26,898

94,577

At 30 June 2023

67,679

26,898

94,577

Depreciation

At 1 July 2022

-

12,282

12,282

Charge for the year

-

1,459

1,459

At 30 June 2023

-

13,741

13,741

Carrying amount

At 30 June 2023

67,679

13,157

80,836

At 30 June 2022

67,679

14,616

82,295

Included within the net book value of land and buildings above is £67,679 (2022 - £67,679) in respect of freehold land and buildings.
 

 

Helionix Group Limited

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

6

Investments

2023
£

2022
£

Investments in subsidiaries

100

100

Subsidiaries

£

Fair value

At 1 July 2022

100

At 30 June 2023

100

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Helionix Developments Limited

Furnace Brook Fishery
Trolliloes
Cowbeech
Hailsham
East Sussex
BN27 4QR

England and Wales

Ordinary

100%

100%

 

Helionix Group Limited

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

7

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2022

148

148

At 30 June 2023

148

148

Impairment

Carrying amount

At 30 June 2023

148

148

8

Stocks

2023
£

2022
£

Other inventories

1,500

2,000

9

Debtors

Note

2023
£

2022
£

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

11

53,210

345,598

Prepayments

 

12,000

12,000

 

65,210

357,598

 

Helionix Group Limited

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

10

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

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

11

611,347

635,808

Taxation and social security

 

571

2,894

Accruals and deferred income

 

750

750

Other creditors

 

-

7,414

Director loan account

 

984,395

1,190,982

 

1,597,063

1,837,848

11

Related party transactions

Summary of transactions with subsidiaries

Helionix Developments Ltd
 Interest free Loan and management fee
 

Summary of transactions with other related parties

Carbon Free Communication Limited
 A Gould is a director in the above companies
There are interest free loans from these companies
Purchases and Sales were made to Carbon Free Communications Limited

 

Income and receivables from related parties

2023

Subsidiary
£

Other related parties
£

Receipt of services

12,000

-

Amounts receivable from related party

-

53,210

2022

Subsidiary
£

Other related parties
£

Receipt of services

12,000

-

Amounts receivable from related party

-

345,597

 

Helionix Group Limited

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

Expenditure with and payables to related parties

2023

Subsidiary
£

Key management
£

Amounts payable to related party

611,347

984,395

2022

Subsidiary
£

Key management
£

Amounts payable to related party

635,808

1,190,982