HELIA PHOTONICS LIMITED

Company Registration Number:
SC232228 (Scotland)

Unaudited abridged accounts for the year ended 31 July 2023

Period of accounts

Start date: 01 August 2022

End date: 31 July 2023

HELIA PHOTONICS LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2023

Balance sheet
Notes

HELIA PHOTONICS LIMITED

Balance sheet

As at 31 July 2023


Notes

2023

2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 546,975 579,150
Tangible assets: 4 251,993 273,156
Investments:   0 0
Total fixed assets: 798,968 852,306
Current assets
Stocks: 79,336 70,254
Debtors:   370,908 295,269
Cash at bank and in hand: 102,180 67,756
Investments:   0 0
Total current assets: 552,424 433,279
Creditors: amounts falling due within one year:   (393,232) (352,077)
Net current assets (liabilities): 159,192 81,202
Total assets less current liabilities: 958,160 933,508
Creditors: amounts falling due after more than one year:   (41,381) (58,078)
Provision for liabilities: 0 0
Total net assets (liabilities): 916,779 875,430
Capital and reserves
Called up share capital: 1,287,012 1,287,012
Share premium account: 0 0
Revaluation reserve:5512,000512,000
Other reserves: 0 0
Profit and loss account: (882,233) (923,582)
Shareholders funds: 916,779 875,430

The notes form part of these financial statements

HELIA PHOTONICS LIMITED

Balance sheet statements

For the year ending 31 July 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 11 April 2024
and signed on behalf of the board by:

Name: NICHOLAS SOMERVILLE
Status: Director

The notes form part of these financial statements

HELIA PHOTONICS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and value added tax.Revenue from the sale of goods is recognised when significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the economic life of an asset. If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Intangible fixed assets and amortisation policy

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset. If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Other accounting policies

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

HELIA PHOTONICS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

2. Employees

2023 2022
Average number of employees during the period 23 21

HELIA PHOTONICS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Intangible Assets

Total
Cost £
At 01 August 2022 643,500
At 31 July 2023 643,500
Amortisation
At 01 August 2022 64,350
Charge for year 32,175
At 31 July 2023 96,525
Net book value
At 31 July 2023 546,975
At 31 July 2022 579,150

HELIA PHOTONICS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Tangible Assets

Total
Cost £
At 01 August 2022 1,214,971
Additions 48,986
At 31 July 2023 1,263,957
Depreciation
At 01 August 2022 941,815
Charge for year 70,149
At 31 July 2023 1,011,964
Net book value
At 31 July 2023 251,993
At 31 July 2022 273,156

HELIA PHOTONICS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

5. Revaluation reserve

2023
£
Balance at 01 August 2022 512,000
Surplus or deficit after revaluation 0
Balance at 31 July 2023 512,000

HELIA PHOTONICS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

6. Related party transactions

Name of the related party: Spring Engineering Services Ltd
Relationship:
Common Control
Description of the Transaction: During the year goods and services amounting to £1,955 (2022 - £16,625) were sold to Spring Engineering Services Ltd, a related company due to common control.
£
Balance at 01 August 2022 3,592
Balance at 31 July 2023 0
Name of the related party: Spring Engineering Services Ltd
Relationship:
Common Control
Description of the Transaction: During the year goods and services amounting to £27,280 (2022 - £26,799) were purchased from Spring Engineering Services Ltd, a related company due to common control.
£
Balance at 01 August 2022 9,840
Balance at 31 July 2023 24,077
Name of the related party: Pergola International Holdings Ltd
Relationship:
PARENT COMPANY
Description of the Transaction: Pergola International Holdings Ltd is the parent company of Helia Photonics Ltd. At the year end an amount of £21,240 (2022 - £21,240) was due for accrued loan interest. In the year to 31 July 2022 a new loan was taken out. The balance outstanding at the year end was £128,134 (2022 - £128,134) with interest accrued thereon of £3,999 (2022 - £135).
£
Balance at 01 August 2022 149,509
Balance at 31 July 2023 153,373
Name of the related party: SPRING UK LTD
Relationship:
Common Control
Description of the Transaction: In the year to 31 July 2023 the company borrowed £30,000 from Spring UK Ltd, a related company due to common control. At the year end the full amount was outstanding.
£
Balance at 01 August 2022 0
Balance at 31 July 2023 30,000