Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-31117371272023-12-3122023-01-01false2truetrue 11737127 2023-01-01 2023-12-31 11737127 2022-01-01 2022-12-31 11737127 2023-12-31 11737127 2022-12-31 11737127 1 2023-01-01 2023-12-31 11737127 d:Director2 2023-01-01 2023-12-31 11737127 c:ComputerEquipment 2023-01-01 2023-12-31 11737127 c:ComputerEquipment 2023-12-31 11737127 c:ComputerEquipment 2022-12-31 11737127 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11737127 c:CurrentFinancialInstruments 2023-12-31 11737127 c:CurrentFinancialInstruments 2022-12-31 11737127 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 11737127 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 11737127 c:ShareCapital 2023-12-31 11737127 c:ShareCapital 2022-12-31 11737127 c:RetainedEarningsAccumulatedLosses 2023-12-31 11737127 c:RetainedEarningsAccumulatedLosses 2022-12-31 11737127 d:OrdinaryShareClass1 2023-01-01 2023-12-31 11737127 d:OrdinaryShareClass1 2022-01-01 2022-12-31 11737127 d:OrdinaryShareClass1 2023-12-31 11737127 d:OrdinaryShareClass1 2022-12-31 11737127 d:OrdinaryShareClass2 2023-01-01 2023-12-31 11737127 d:OrdinaryShareClass2 2022-01-01 2022-12-31 11737127 d:OrdinaryShareClass2 2023-12-31 11737127 d:OrdinaryShareClass2 2022-12-31 11737127 d:OrdinaryShareClass3 2023-01-01 2023-12-31 11737127 d:OrdinaryShareClass3 2022-01-01 2022-12-31 11737127 d:OrdinaryShareClass3 2023-12-31 11737127 d:OrdinaryShareClass3 2022-12-31 11737127 d:OrdinaryShareClass4 2023-01-01 2023-12-31 11737127 d:OrdinaryShareClass4 2022-01-01 2022-12-31 11737127 d:OrdinaryShareClass4 2023-12-31 11737127 d:OrdinaryShareClass4 2022-12-31 11737127 d:OrdinaryShareClass5 2023-01-01 2023-12-31 11737127 d:OrdinaryShareClass5 2022-01-01 2022-12-31 11737127 d:OrdinaryShareClass5 2023-12-31 11737127 d:OrdinaryShareClass5 2022-12-31 11737127 d:PreferenceShareClass1 2023-01-01 2023-12-31 11737127 d:PreferenceShareClass1 2022-01-01 2022-12-31 11737127 d:PreferenceShareClass1 2023-12-31 11737127 d:PreferenceShareClass1 2022-12-31 11737127 d:PreferenceShareClass2 2023-01-01 2023-12-31 11737127 d:PreferenceShareClass2 2022-01-01 2022-12-31 11737127 d:PreferenceShareClass2 2023-12-31 11737127 d:PreferenceShareClass2 2022-12-31 11737127 d:PreferenceShareClass3 2023-01-01 2023-12-31 11737127 d:PreferenceShareClass3 2022-01-01 2022-12-31 11737127 d:PreferenceShareClass3 2023-12-31 11737127 d:PreferenceShareClass3 2022-12-31 11737127 d:FRS102 2023-01-01 2023-12-31 11737127 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11737127 d:FullAccounts 2023-01-01 2023-12-31 11737127 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11737127 c:Subsidiary1 2023-01-01 2023-12-31 11737127 c:Subsidiary1 1 2023-01-01 2023-12-31 11737127 c:Subsidiary2 2023-01-01 2023-12-31 11737127 c:Subsidiary2 1 2023-01-01 2023-12-31 11737127 c:Subsidiary3 2023-01-01 2023-12-31 11737127 c:Subsidiary3 1 2023-01-01 2023-12-31 11737127 c:Subsidiary4 2023-01-01 2023-12-31 11737127 c:Subsidiary4 1 2023-01-01 2023-12-31 11737127 c:Subsidiary5 2023-01-01 2023-12-31 11737127 c:Subsidiary5 1 2023-01-01 2023-12-31 11737127 c:Subsidiary6 2023-01-01 2023-12-31 11737127 c:Subsidiary6 1 2023-01-01 2023-12-31 11737127 c:Subsidiary7 2023-01-01 2023-12-31 11737127 c:Subsidiary7 1 2023-01-01 2023-12-31 11737127 2 2023-01-01 2023-12-31 11737127 6 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure



















Helios UK Holdco Ltd

Registered number: 11737127
Information for 
filing with Registrar
For the year ended 31 December 2023

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
REGISTERED NUMBER: 11737127

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
607
910

Investments
 6 
34,008,971
109,217,157

  
34,009,578
109,218,067

Current assets
  

Debtors: amounts falling due within one year
 7 
6,081
15,104

Cash at bank and in hand
  
186,226
72,881

  
192,307
87,985

Creditors: amounts falling due within one year
 8 
(43,648)
(40,252)

Net current assets
  
 
 
148,659
 
 
47,733

Total assets less current liabilities
  
34,158,237
109,265,800

  

Net assets
  
34,158,237
109,265,800


Capital and reserves
  

Called up share capital 
 9 
34,902,647
45,984,418

Profit and loss account
  
(744,410)
63,281,382

Total equity
  
34,158,237
109,265,800


- 1 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
REGISTERED NUMBER: 11737127
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006.

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




T Rudnicki
Director

Date: 31 July 2024

The notes on pages 3 to 18 form part of these financial statements.

- 2 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Helios UK Holdco Ltd is a private company limited by shares incorporated in England and Wales. The company's registered number is 11737127. The address of its registered office and principal place of business is 1 Poultry, London, England, EC2R 8EJ.
The principal activity of the company is that of investment and active management services in renewable energy projects and energy transition in the UK and other European countries. All the projects in the company's portfolio are treated as investment entities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).

The financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the company operates and is rounded to the nearest Pound.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The company, and the group are exempt from preparing consolidated financial statements as the investments are held as part of an investment portfolio and are held at fair value with the changes in fair value recognised in the Statement of comprehensive income in compliance with Financial Reporting Standard 102 section 9.9C(a). 

 
2.3

Going concern

The financial statements are prepared on a going concern basis. The company remains assured of the financial support provided by the shareholders for at least 12 months from the date of the signing of this financial statements. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis.

- 3 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The company's functional and presentation currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'administrative expenses'. 

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

- 4 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Turnover

Turnover is based on the following policies:
Management fee revenues are recognised as services are provided to investment entities.
Other revenue is calculated based on project development contributions from shareholders.

 
2.7

Interest receivable and similar income

Interest receivable and similar income is recognised in profit or loss using the effective interest method.

 
2.8

Interest payable and similar expenses

Interest payable and similar expenses are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

  
2.9

Pensions

Self-Invested Personal Pension
The Company, at the request of the employee, will pay a pre determined amount into the employees personal pension scheme of an amount requested by the employee. The Company does not have any payment obligations in respect of these contributions other than to pay them in a timely manor. 
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in other creditors as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

- 5 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in companies held as part of an investment portfolio are measured at fair value, with changes in fair value recognised in profit or loss in accordance with Financial Reporting Standard 102 section 9.9C(a).

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
- 6 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)


Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
 
- 7 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)


Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

- 8 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

  
2.16

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

- 9 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The critical judgements that the director has made in the process of applying the company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below.
Critical judgements in applying the company’s accounting policies
Investments in companies held as part of an investment portfolio are measured at fair value, with changes in fair value recognised in the statement of comprehensive income in accordance with Financial Reporting Standard 102 section 9.9C(a).
Key sources of estimation uncertainty
Valuation of investments
The director conducted valuation reviews of investments in companies held as part of an investment portfolio in accordance with the relevant accounting standards. Fair value movements are recognised in the Statement of comprehensive income. The director reviews the underlying assets held by the investees and the forecasts prepared to determine the fair value.


4.


Employees

The average monthly number of employees, including the directors, during the year was 2 (2022: 2).

- 10 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Computer equipment

£



Cost


At 1 January 2023
1,214



At 31 December 2023

1,214



Depreciation


At 1 January 2023
304


Charge for the year
303



At 31 December 2023

607



Net book value



At 31 December 2023
607



At 31 December 2022
910

- 11 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Investments





Investments

£



Valuation


At 1 January 2023
109,217,157


Additions
10,924,560


Disposals
(85,802,187)


Revaluations
16,574,836



At 31 December 2023

50,914,366



Impairment


At 1 January 2023
-


Impairment charge
16,905,395



At 31 December 2023

16,905,395



Net book value



At 31 December 2023
34,008,971



At 31 December 2022
109,217,157

- 12 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
At the year end, investments in the portfolio were measured at fair value. After careful consideration of the value of similar investments in the market, the director valued these investments in Helios UK (NL 2) Ltd at £1,923,997 (2022: £1,610,379) and Helios (Italy) Ltd at £7,728,419 (2022: £6,220,243) and Helios UK (Italy-Biogas) Ltd at £8,435,188 (2022: £2,896,332) and Helios UK (Poland-EV) Ltd at £15,432,366 (2022: £6,518,305) representing the fair market value at 31 December 2023. The increase in the fair value of the investment of £5,577,354 (2022: £53,718,060) has been recognised in the Statement of comprehensive income. 
On 6 June 2023 Helios UK (Spain) Ltd signed a sale and purchase agreement to sell HLS Bonete TopCo, S.L.U., for a consideration of €63,518,964 for its equity stake, to the Italian based Plenitude company, the renewable and retail division of energy group Eni. The directors assessed after the sale of the investment in Helios UK (Spain) Ltd the value to be £147,317 based on the cash balance of the investment. An impairment on revaluation of the investment has been recognised in the Statement of comprehensive income of £1,565,391. 
On 15 June 2023 Helios UK (Poland) Ltd signed a sale and purchase agreement to sell Wilko 5 SP ZOO, for a consideration of €49,727,759 for its equity stake, to the Equinor Wind Power AS. The directors assessed after the sale of the investment in Helios UK (Poland) Ltd the value to be £341,697 based on the cash balance of the investment. An impairment on revaluation of the investment has been recognised in the Statement of comprehensive income of £8,857,525. 
During the year the directors carefully considered the value of the investment in Helios UK (Netherlands) Ltd during the year to be £nil. An impairment charge on the investment has been recognised in the Statement of comprehensive income of £6,482,479. 
- 13 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

Investments


The following investments were held as part of the investment portfolio of the company:

Name

Registered office

Principal activity

Class of shares

Holding

Helios UK (Netherlands) Ltd
  England and Wales
 
Investment and active management services in renewable energy projects in Netherlands
  Ordinary
100%
Helios UK (Spain) Ltd
  England and Wales
 
Investment and active management services in renewable energy projects in Spain
  Ordinary
100%
Helios UK (Poland) Ltd
  England and Wales
 
Investment and active management services in renewable energy projects in Poland
  Ordinary
100%
Helios UK (NL 2) Ltd
  England and Wales
 
Investment and active management services in renewable energy projects in Netherlands
  Ordinary
100%
Helios UK (Italy) Ltd
  England and Wales
 
Investment and active management services in renewable energy projects in Italy
  Ordinary
100%
Helios UK (Italy - Biogas) Ltd
  England and Wales
 
Investment and active management services in renewable energy projects in Italy
  Ordinary
100%
Helios UK (Poland - EV) Ltd
  England and Wales
 
Investment and active management services in renewable energy projects in Poland
  Ordinary
100%

- 14 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors: amounts falling due within one year

2023
2022
£
£


Amounts owed by investment entities
-
5,398

Other debtors
6,081
9,706

6,081
15,104


Included within other debtors is the deposit for the company's office.
Amounts owed by investment entities are unsecured, interest free and payable on demand. 


8.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
1,994
9,126

Amounts owed to investment entities
-
894

Other taxation and social security
24,998
4,214

Other creditors
6,966
3,422

Accruals
9,690
22,596

43,648
40,252


Amounts owed to investment entities are unsecured, interest free and repayable on demand. 

- 15 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Called up share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022: 1) ordinary share of £1
1
1
59,264 (2022: 10,002,303) Series A shares of £1 each
59,264
10,002,303
6,491,243 (2022: 6,314,229) Series B shares of £1 each
6,491,243
6,314,229
448,590 (2022: 12,456,513) Series C shares of £1 each
448,590
12,456,513
1,909,578 (2022:1,596,113) Series D shares of £1 each
1,909,578
1,596,113
7,708,886 (2022: 6,205,058) Series E shares of £1 each
7,708,886
6,205,058
9,851,719 (2022:6,518,304) Series F shares of £1 each
9,851,719
6,518,304
8,433,366 (2022:2,891,897) Series G shares of £1 each
8,433,366
2,891,897

34,902,647

45,984,418

On 10 January 2023, the company issued 2,469,056 Series F shares with a par value of £1 each for a consideration of £2,469,056.
On 10 January 2023, the company issued 1,201,174 Series E shares with a par value of £1 each for a consideration of £1,201,174.
On 10 January 2023, the company made three different issues for a total of 1,546,195 Series G shares with a par value of £1 each for a consideration of £1,546,195.
On 11 January 2023, the company issued 9,301 Series C shares with a par value of £1 each for a consideration of £9,301.
On 1 February 2023, the company issued 7,097 Series A shares with a par value of £1 each for a consideration of £7,097.
On 1 February 2023, the company issued 53,228 Series G shares with a par value of £1 each for a consideration of £53,228.
On 3 March 2023, the company issued 177,014 Series B shares with a par value of £1 each for a consideration of £177,014.
On 7 March 2023, the company issued 3,567 Series A shares with a par value of £1 each for a consideration of £3,567.
On 2 May 2023, the company issued 17,631 Series D shares with a par value of £1 each for a consideration of £17,631.
On 5 May 2023, the company issued 261,510 Series D shares with a par value of £1 each for a consideration of £261,510.
On 19 May 2023, the company issued 22,138 Series C shares with a par value of £1 each for a consideration of £22,138.
On 1 June 2023, the company issued 4,717 Series A shares with a par value of £1 each for a consideration of £4,717.
 
- 16 -

 
 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.Called up share capital (continued)


On 12 June 2023, the company issued 662,547 Series G shares with a par value of £1 each for a consideration of £662,547.
On 12 July 2023, the company issued 1,027,398 Series G shares with a par value of £1 each for a consideration of £1,027,398.
On 17 July 2023, the directors have passed a special resolution to reduce the Series A shares by cancelling and extinguishing 9,460,910 with a par value of £1 each, each of which is fully paid up and the amount by which the share capital is so reduced is to be credited to a distributable reserve.
On 3 August 2023, the directors have passed a special resolution to reduce the Series A shares by cancelling and extinguishing 430,741 with a par value of £1 each, each of which is fully paid up and the amount by which the share capital is so reduced is to be credited to a distributable reserve.
On 21 September 2023, the directors have passed a special resolution to reduce the Series A and Series C shares by cancelling and extinguishing 11,220,189 with a par value of £1 each, each of which is fully paid up and the amount by which the share capital is so reduced is to be credited to a distributable reserve.
On 6 December 2023, the directors have passed a special resolution to reduce the Series C shares by cancelling and extinguishing 885,942 with a par value of £1 each, each of which is fully paid up and the amount by which the share capital is so reduced is to be credited to a distributable reserve.


10.


Pension commitments

The Company, at the request of the employee, will pay a pre determined amount into the employees personal pension scheme of an amount requested by the employee. The Company does not have any payment obligations in respect of these contributions other than to pay them in a timely manor. The pension cost charge represents contributions payable by the company to the fund and amounted to £6,966 (2022: £3,421).


11.


Related party transactions

The company is exempt from disclosing related party transactions that have been concluded under normal market condition.

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 11737127
31 December 2023
HELIOS UK HOLDCO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Post balance sheet events

On 15 February 2024, the company issued 1,291,698 Series F shares with a par value of £1 each for a consideration of £1,291,698.
On 28 February 2024, the company issued 213,966 Series G shares with a par value of £1 each for a consideration of £213,966.
On 2 April 2024, the company issued 2,141,180 Series F shares with a par value of £1 each for a consideration of £2,141,180.
On 22 April 2024, the company issued 276,107 Series E shares with a par value of £1 each for a consideration of £276,107.
On 25 April 2024, the company issued 25,745 Series F shares with a par value of £1 each for a consideration of £25,745.
On 20 May 2024, the company issued 196,598 Series D shares with a par value of £1 each for a consideration of £196,598.
During the year the company paid dividends of £85,802,187 (2022: £nil). At the time the dividend was paid the directors assessed that there were sufficient profits available for distribution. Due to an impairment charge being recognised in the Statement of comprehensive income of £6,482,479 on the value of the investment in Helios UK (Netherlands). This resulted in the distributable reserves being in a deficit of £744,410 at the year end date. The directors decided a reduction in the share capital by which the share capital is so reduced is to be credited to a distributable reserve will allow for sufficient profits.
The directors acknowledge that no further distributions can be made until there are sufficient profits available for that purpose. 


13.


Controlling party

The directors do not consider there to be controlling party.

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