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Company No: 08132961 (England and Wales)

HELIFILMS SERVICES (UK) LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

HELIFILMS SERVICES (UK) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

HELIFILMS SERVICES (UK) LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
HELIFILMS SERVICES (UK) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR Mr M S Wright
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
COMPANY NUMBER 08132961 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
HELIFILMS SERVICES (UK) LIMITED

BALANCE SHEET

As at 31 March 2024
HELIFILMS SERVICES (UK) LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 181,843 242,475
181,843 242,475
Current assets
Debtors 4 8,080 29,965
Cash at bank and in hand 10,877 95,475
18,957 125,440
Creditors: amounts falling due within one year 5 ( 83,488) ( 84,296)
Net current (liabilities)/assets (64,531) 41,144
Total assets less current liabilities 117,312 283,619
Creditors: amounts falling due after more than one year 6 ( 32,741) ( 89,881)
Provision for liabilities ( 35,800) ( 54,200)
Net assets 48,771 139,538
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 48,671 139,438
Total shareholder's funds 48,771 139,538

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Helifilms Services (UK) Limited (registered number: 08132961) were approved and authorised for issue by the Director on 12 September 2024. They were signed on its behalf by:

Mr M S Wright
Director
HELIFILMS SERVICES (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
HELIFILMS SERVICES (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Helifilms Services (UK) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.

The address of the Company's registered office is:
Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

The principal place of business is:
Osborne House
The Strand
Lympstone
Devon
EX8 5JS

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

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 value added tax, returns, rebates and discounts.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 1,124,624 1,124,624
At 31 March 2024 1,124,624 1,124,624
Accumulated depreciation
At 01 April 2023 882,149 882,149
Charge for the financial year 60,632 60,632
At 31 March 2024 942,781 942,781
Net book value
At 31 March 2024 181,843 181,843
At 31 March 2023 242,475 242,475

4. Debtors

2024 2023
£ £
Trade debtors 4,740 29,543
Prepayments 0 422
Other debtors 3,340 0
8,080 29,965

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,204 9,952
Trade creditors 162 133
Corporation tax 0 8,200
Other taxation and social security 631 4,398
Obligations under finance leases and hire purchase contracts (secured) 50,119 47,324
Other creditors 22,372 14,289
83,488 84,296

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 12,213 22,435
Obligations under finance leases and hire purchase contracts (secured) 20,528 67,446
32,741 89,881

Creditors include net obligations under hire purchase contracts which are secured over its respective assets of £70,647 (2022: £114,770).

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's director

Advances

During the year, advances were made to the director totalling £55,997, and interest was charged at 2.25%. This was repaid by the issue of funds back into the business and by way of dividends being credited to the directors loan account during the year.