Company registration number 04394885 (England and Wales)
HELION & COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
HELION & COMPANY LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 8
HELION & COMPANY LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HELION & COMPANY LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Helion & Company Limited for the year ended 31 March 2024 which comprise, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Helion & Company Limited, as a body, in accordance with the terms of our engagement letter dated 21 June 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Helion & Company Limited and state those matters that we have agreed to state to the board of directors of Helion & Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Helion & Company Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Helion & Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Helion & Company Limited. You consider that Helion & Company Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Helion & Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Malcolm Piper & Company Limited
4 June 2024
Chartered Accountants
Kingsnorth House
Blenheim Way
Birmingham
West Midlands
United Kingdom
B44 8LS
HELION & COMPANY LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
8,385
5,594
Current assets
Stock
459,120
438,909
Debtors
5
173,106
197,702
Cash at bank and in hand
31,775
30,683
664,001
667,294
Creditors: amounts falling due within one year
6
(415,298)
(453,615)
Net current assets
248,703
213,679
Total assets less current liabilities
257,088
219,273
Creditors: amounts falling due after more than one year
7
(98,732)
(87,827)
Provisions for liabilities
(1,840)
(1,142)
Net assets
156,516
130,304
Capital and reserves
Called up share capital
9
1,000
1,000
Profit and loss reserves
155,516
129,304
Total equity
156,516
130,304
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
HELION & COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 4 June 2024
Mr D C W Rogers
Director
Company registration number 04394885 (England and Wales)
HELION & COMPANY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2022
1,000
146,051
147,051
Year ended 31 March 2023:
Loss and total comprehensive income
-
(16,747)
(16,747)
Balance at 31 March 2023
1,000
129,304
130,304
Year ended 31 March 2024:
Profit and total comprehensive income
-
26,212
26,212
Balance at 31 March 2024
1,000
155,516
156,516
HELION & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
1
Accounting policies
Company information
Helion & Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kingsnorth House, Blenheim Way, Birmingham, West Midlands, B44 8LS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Intangible fixed assets other than goodwill
Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Patents & licences
Fully amortised
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% on reducing balance
Computers
33% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stock
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items.
HELION & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
Current tax
The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
15
15
3
Intangible fixed assets
Patents & licences
£
Cost
At 1 April 2023 and 31 March 2024
22,000
Amortisation and impairment
At 1 April 2023 and 31 March 2024
22,000
Carrying amount
At 31 March 2024
At 31 March 2023
HELION & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2023
4,886
22,360
27,246
Additions
3,580
998
4,578
At 31 March 2024
8,466
23,358
31,824
Depreciation and impairment
At 1 April 2023
1,990
19,662
21,652
Depreciation charged in the year
730
1,057
1,787
At 31 March 2024
2,720
20,719
23,439
Carrying amount
At 31 March 2024
5,746
2,639
8,385
At 31 March 2023
2,896
2,698
5,594
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
151,720
182,002
Other debtors
21,386
15,700
173,106
197,702
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
9,588
29,253
Trade creditors
269,606
290,553
Taxation and social security
7,347
5,271
Other creditors
128,757
128,538
415,298
453,615
HELION & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
29,554
Other creditors
98,732
58,273
98,732
87,827
8
Loans and overdrafts
2024
2023
£
£
Bank loans
5,959
55,645
Bank overdrafts
3,629
3,162
Other loans
157,427
108,802
167,015
167,609
Payable within one year
68,283
79,782
Payable after one year
98,732
87,827
Bank and other loans of £112,464 (2023 - £47,299) are secured by a director's personal guarantee.
A Bounce Back loan of £Nil (2023 - £32,389) is underwritten by H M Government.
A CBILS loan of £50,922 (2023 - £84,759) is guaranteed by H M Government in accordance with the CBILS loans legislation.
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000