Helmslake Limited 04028552 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is Property investments Digita Accounts Production Advanced 6.30.9574.0 true true 04028552 2022-08-01 2023-07-31 04028552 2023-07-31 04028552 bus:OrdinaryShareClass1 2023-07-31 04028552 core:CurrentFinancialInstruments 2023-07-31 04028552 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 04028552 core:Non-currentFinancialInstruments 2023-07-31 04028552 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 04028552 core:FurnitureFittingsToolsEquipment 2023-07-31 04028552 core:LandBuildings 2023-07-31 04028552 bus:SmallEntities 2022-08-01 2023-07-31 04028552 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 04028552 bus:FullAccounts 2022-08-01 2023-07-31 04028552 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 04028552 bus:RegisteredOffice 2022-08-01 2023-07-31 04028552 bus:Director1 2022-08-01 2023-07-31 04028552 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 04028552 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 04028552 core:FurnitureFittings 2022-08-01 2023-07-31 04028552 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 04028552 core:LandBuildings 2022-08-01 2023-07-31 04028552 countries:England 2022-08-01 2023-07-31 04028552 2022-07-31 04028552 core:FurnitureFittingsToolsEquipment 2022-07-31 04028552 core:LandBuildings 2022-07-31 04028552 2021-08-01 2022-07-31 04028552 2022-07-31 04028552 bus:OrdinaryShareClass1 2022-07-31 04028552 core:CurrentFinancialInstruments 2022-07-31 04028552 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 04028552 core:Non-currentFinancialInstruments 2022-07-31 04028552 core:Non-currentFinancialInstruments core:AfterOneYear 2022-07-31 04028552 core:FurnitureFittingsToolsEquipment 2022-07-31 04028552 core:LandBuildings 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04028552

Helmslake Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Helmslake Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Helmslake Limited

Company Information

Director

Mr VAJ Reay

Registered office

26 High Street
Rickmansworth
WD3 1ER

Accountants

DJM Accountants BLJ Limited
26 High Street
Rickmansworth
WD3 1ER

 

Helmslake Limited

(Registration number: 04028552)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,170,698

2,173,495

Current assets

 

Debtors

5

10,423

11,143

Cash at bank and in hand

 

369,244

349,446

 

379,667

360,589

Creditors: Amounts falling due within one year

6

(90,858)

(55,334)

Net current assets

 

288,809

305,255

Total assets less current liabilities

 

2,459,507

2,478,750

Creditors: Amounts falling due after more than one year

6

(1,084,390)

(1,131,139)

Net assets

 

1,375,117

1,347,611

Capital and reserves

 

Called up share capital

7

1

1

Revaluation reserve

910,790

910,790

Retained earnings

464,326

436,820

Shareholders' funds

 

1,375,117

1,347,611

For the financial year ending 31 July 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 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 April 2024
 

 

Helmslake Limited

(Registration number: 04028552)
Balance Sheet as at 31 July 2023

Mr VAJ Reay
Director

   
     
 

Helmslake Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
26 High Street
Rickmansworth
WD3 1ER

These financial statements were authorised for issue by the director on 16 April 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Helmslake Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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.

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

Fixtures and fittings

20% on reducing balance

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.

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Helmslake Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

2,159,510

17,935

2,177,445

At 31 July 2023

2,159,510

17,935

2,177,445

Depreciation

At 1 August 2022

-

3,950

3,950

Charge for the year

-

2,797

2,797

At 31 July 2023

-

6,747

6,747

Carrying amount

At 31 July 2023

2,159,510

11,188

2,170,698

At 31 July 2022

2,159,510

13,985

2,173,495

Included within the net book value of land and buildings above is £2,159,510 (2022 - £2,159,510) in respect of freehold land and buildings.
 

Revaluation

 

Helmslake Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

The fair value of the company's Land and building was revalued on 31 July 2020. An independent valuer was not involved. .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £Nil (2022 - £Nil).

5

Debtors

Current

2023
£

2022
£

Other debtors

10,423

11,143

 

Helmslake Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

37,754

37,754

Taxation and social security

7,779

3,008

Accruals and deferred income

22,382

3,912

Other creditors

22,943

10,660

90,858

55,334

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

1,084,390

1,131,139

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

765,128

811,877

Other borrowings

319,262

319,262

1,084,390

1,131,139