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Registration number: 09802850

Helical Productions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Helical Productions Limited

Company Information

Directors

Z Meharg

A Meharg

Company secretary

D Meharg

Registered office

The Pump House
Pump Court
Garnier Road
Winchester
SO23 9QG

Accountants

Tax Innovations Limited
Innovations House
19 Staple Gardens
Winchester
Hampshire
SO23 8SR

 

Helical Productions Limited

(Registration number: 09802850)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

115,326

127,614

Current assets

 

Debtors

5

55,954

136,869

Creditors: Amounts falling due within one year

6

(147,220)

(183,756)

Net current liabilities

 

(91,266)

(46,887)

Net assets

 

24,060

80,727

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

24,058

80,725

Shareholders' funds

 

24,060

80,727

For the financial year ending 31 October 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 29 July 2024 and signed on its behalf by:
 

 

Helical Productions Limited

(Registration number: 09802850)
Balance Sheet as at 31 October 2023

.........................................
Z Meharg
Director

.........................................
A Meharg
Director

 

Helical Productions Limited

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

1

General information

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

The address of its registered office is:
The Pump House
Pump Court
Garnier Road
Winchester
SO23 9QG

These financial statements were authorised for issue by the Board on 29 July 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.

 

Helical Productions Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

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

Office equipment

15% reducing balance method

Motor vehicles

7% reducing balance method

Fixture, fittings and equipment

15% reducing balance method

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.

 

Helical Productions Limited

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

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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Helical Productions Limited

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

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 2 (2022 - 2).

 

Helical Productions Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

119,036

73,328

192,364

Additions

1,881

-

1,881

At 31 October 2023

120,917

73,328

194,245

Depreciation

At 1 November 2022

54,103

10,647

64,750

Charge for the year

9,782

4,387

14,169

At 31 October 2023

63,885

15,034

78,919

Carrying amount

At 31 October 2023

57,032

58,294

115,326

At 31 October 2022

64,933

62,681

127,614

5

Debtors

Current

2023
£

2022
£

Trade debtors

21,742

74,387

Other debtors

34,212

62,482

 

55,954

136,869

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

73,629

95,399

Trade creditors

 

2,475

2,258

Taxation and social security

 

63,268

91,865

Accruals and deferred income

 

-

295

Other creditors

 

7,848

(6,061)

 

147,220

183,756

 

Helical Productions Limited

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

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A share of £1 each

1

1

1

1

Ordinary B share of £1 each

1

1

1

1

2

2

2

2

 

Helical Productions Limited

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

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank overdrafts

10,953

14,259

Hire purchase contracts

33,037

44,158

Other borrowings

29,639

36,982

73,629

95,399

9

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £100,339 (2022 - £73,124) per each Ordinary A share

100,339

73,124

Interim dividend of £67,958 (2022 - £71,034) per each Ordinary B share

67,958

71,034

168,297

144,158

10

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Advances to director
£

At 31 October 2023
£

A Meharg

Director's current account

31,241

(35,097)

(3,856)

Z Meharg

Director's current account

31,241

(35,717)

(4,476)

 

Helical Productions Limited

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

2022

At 1 November 2021
£

Other payments made to company by director
£

At 31 October 2022
£

A Meharg

Director's current account

9,707

21,534

31,241

Z Meharg

Director's current account

-

31,241

31,241

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

13,675

15,782