Registration number:
Helvellyn Investments Limited
for the Year Ended 30 December 2023
Helvellyn Investments Limited
Contents
Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Helvellyn Investments Limited
(Registration number: 08536959)
Statement of Financial Position as at 30 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Other financial assets |
1,286,941 |
953,283 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
10,000 |
10,000 |
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Revaluation reserve |
135,027 |
(138,225) |
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Retained earnings |
502,629 |
528,631 |
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Shareholders' funds |
647,656 |
400,406 |
Helvellyn Investments Limited
(Registration number: 08536959)
Statement of Financial Position as at 30 December 2023
For the financial year ending 30 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.
Approved and authorised by the
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Helvellyn Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 December 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
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 sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Government grants
Government grants are included in the accounts on the accruals basis.
Helvellyn Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 December 2023
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Computer equipment |
33.33% Straight line |
Other Financial Assets (Investments)
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method.
Dividends on equity securities are recognised in income when receivable.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Helvellyn Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 December 2023
Financial instruments
Classification
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Helvellyn Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 December 2023
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 31 December 2022 |
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At 30 December 2023 |
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Depreciation |
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At 31 December 2022 |
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At 30 December 2023 |
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Carrying amount |
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At 30 December 2023 |
- |
- |
Other financial assets (current and non-current) |
2023 |
2022 |
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Non-current financial assets |
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Financial assets at fair value through profit and loss |
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Investments |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 31 December 2022 |
953,283 |
953,283 |
Fair value adjustments |
273,253 |
273,253 |
Additions |
60,405 |
60,405 |
At 30 December 2023 |
1,286,941 |
1,286,941 |
Debtors |
Current |
2023 |
2022 |
Other debtors |
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Helvellyn Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 December 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Bank overdrafts |
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Creditors include bank overdrafts which are secured with a fixed and floating charge over the assets of the compnay is held in favour of Efg Bank Ltd dated 31 October 2022.