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REGISTERED NUMBER: 01524060 (England and Wales)















Helmrig Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Helmrig Limited (Registered number: 01524060)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Helmrig Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: DV Gallagher
KE Gallagher





REGISTERED OFFICE: New Inn Farm Dawson Lane
Leyland
Lancashire
PR25 5DB





REGISTERED NUMBER: 01524060 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Helmrig Limited (Registered number: 01524060)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 200,758 214,393

CURRENT ASSETS
Stocks 20,000 18,000
Debtors 5 875,875 825,321
Cash at bank 391,781 467,231
1,287,656 1,310,552
CREDITORS
Amounts falling due within one year 6 353,992 369,677
NET CURRENT ASSETS 933,664 940,875
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,134,422

1,155,268

PROVISIONS FOR LIABILITIES 7 50,189 53,598
NET ASSETS 1,084,233 1,101,670

CAPITAL AND RESERVES
Called up share capital 8 100 100
Capital redemption reserve 9 100 100
Retained earnings 9 1,084,033 1,101,470
SHAREHOLDERS' FUNDS 1,084,233 1,101,670

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Helmrig Limited (Registered number: 01524060)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





DV Gallagher - Director


Helmrig Limited (Registered number: 01524060)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Helmrig 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The amounts in the financial statements have been rounded to the nearest £1.

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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on 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.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Helmrig Limited (Registered number: 01524060)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 24 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 April 2023 137,982 29,128 373,137 16,049 556,296
Additions 13,210 - 39,075 1,025 53,310
At 31 March 2024 151,192 29,128 412,212 17,074 609,606
DEPRECIATION
At 1 April 2023 107,314 25,866 196,125 12,598 341,903
Charge for year 10,968 816 54,022 1,139 66,945
At 31 March 2024 118,282 26,682 250,147 13,737 408,848
NET BOOK VALUE
At 31 March 2024 32,910 2,446 162,065 3,337 200,758
At 31 March 2023 30,668 3,262 177,012 3,451 214,393

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 769,602 741,651
Other debtors 10,741 10,703
VAT 52,630 37,932
Prepayments and accrued income 42,902 35,035
875,875 825,321

Helmrig Limited (Registered number: 01524060)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 192,879 254,619
Corporation tax 87,035 82,282
Social security and other taxes 32,041 21,799
Other creditors 3,448 -
Accrued expenses 38,589 10,977
353,992 369,677

7. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 50,189 53,598

Deferred tax
£
Balance at 1 April 2023 53,598
Provided during year (3,409 )
Balance at 31 March 2024 50,189

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£ £ £

At 1 April 2023 1,101,470 100 1,101,570
Profit for the year 250,653 250,653
Dividends (268,090 ) (268,090 )
At 31 March 2024 1,084,033 100 1,084,133

10. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr DV Gallagher.