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REGISTERED NUMBER: 04981690 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

HELM-X LIMITED

HELM-X LIMITED (REGISTERED NUMBER: 04981690)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HELM-X LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D B Brown
T J Lloyd
O G Manning-Brown





REGISTERED OFFICE: 36 Alderbrook Road
SOLIHULL
B91 1NN





REGISTERED NUMBER: 04981690 (England and Wales)





ACCOUNTANTS: Askews Chartered Certified Accountants
5 The Quadrant
Coventry
West Midlands
CV1 2EL

HELM-X LIMITED (REGISTERED NUMBER: 04981690)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 318,070 311,148
318,070 311,148

CURRENT ASSETS
Stocks 36,030 96,030
Debtors 6 168,985 324,029
Cash at bank 225,342 101,723
430,357 521,782
CREDITORS
Amounts falling due within one year 7 276,223 335,616
NET CURRENT ASSETS 154,134 186,166
TOTAL ASSETS LESS CURRENT
LIABILITIES

472,204

497,314

CREDITORS
Amounts falling due after more than one
year

8

(131,699

)

(199,973

)

PROVISIONS FOR LIABILITIES (4,341 ) (1,813 )
NET ASSETS 336,164 295,528

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 336,064 295,428
SHAREHOLDERS' FUNDS 336,164 295,528

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HELM-X LIMITED (REGISTERED NUMBER: 04981690)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:





D B Brown - Director


HELM-X LIMITED (REGISTERED NUMBER: 04981690)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Helm-X Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% per annum of cost
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HELM-X LIMITED (REGISTERED NUMBER: 04981690)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 7,000
AMORTISATION
At 1 January 2023
and 31 December 2023 7,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

HELM-X LIMITED (REGISTERED NUMBER: 04981690)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 January 2023 342,469 35,679 37,755 415,903
Additions - - 21,621 21,621
At 31 December 2023 342,469 35,679 59,376 437,524
DEPRECIATION
At 1 January 2023 41,096 33,082 30,577 104,755
Charge for year 6,850 650 7,199 14,699
At 31 December 2023 47,946 33,732 37,776 119,454
NET BOOK VALUE
At 31 December 2023 294,523 1,947 21,600 318,070
At 31 December 2022 301,373 2,597 7,178 311,148

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 32,505
Additions 21,621
Transfer to ownership (32,505 )
At 31 December 2023 21,621
DEPRECIATION
At 1 January 2023 25,986
Charge for year 6,959
Transfer to ownership (27,543 )
At 31 December 2023 5,402
NET BOOK VALUE
At 31 December 2023 16,219
At 31 December 2022 6,519

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 162,188 315,534
Other debtors 6,797 8,495
168,985 324,029

HELM-X LIMITED (REGISTERED NUMBER: 04981690)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 85,819 93,471
Trade creditors 78,658 98,265
Taxation and social security 36,728 64,125
Other creditors 75,018 79,755
276,223 335,616

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 131,699 199,973