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REGISTERED NUMBER: 02328290 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Helvellyn Properties Limited

Helvellyn Properties Limited (Registered number: 02328290)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Helvellyn Properties Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J D Aitchison
Mrs R Aitchison
H Aitchison





SECRETARY: J D Aitchison





REGISTERED OFFICE: The Old Rectory
Duncton
Petworth
West Sussex
GU28 0JZ





REGISTERED NUMBER: 02328290 (England and Wales)





ACCOUNTANTS: Maximus Accountancy Services Limited
47 Kensington Road
Chichester
West Sussex
PO19 7XS

Helvellyn Properties Limited (Registered number: 02328290)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,943 8,173
Investments 5 211,106 211,106
Investment property 6 600,000 600,000
817,049 819,279

CURRENT ASSETS
Stocks 7 405,457 356,723
Debtors 8 21,801 35,887
Cash at bank 538,977 591,977
966,235 984,587
CREDITORS
Amounts falling due within one year 9 21,471 25,580
NET CURRENT ASSETS 944,764 959,007
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,761,813

1,778,286

CAPITAL AND RESERVES
Called up share capital 10 20,668 20,668
Share premium 1,028,835 1,028,835
Fair value reserve (14,764 ) (14,764 )
Retained earnings 727,074 743,547
SHAREHOLDERS' FUNDS 1,761,813 1,778,286

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Helvellyn Properties Limited (Registered number: 02328290)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





J D Aitchison - Director


Helvellyn Properties Limited (Registered number: 02328290)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Helvellyn Properties 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.

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.
Fixtures and fittings - 33% on cost, 20% on cost and 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Development sites are valued at the lower of cost and net realisable value. Cost includes the purchase cost of the development site and the additional costs incurred in obtaining planning permission prior to selling the site on.

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

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.

Investment in participating interests
Investments in participating interests are shown at cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Helvellyn Properties Limited (Registered number: 02328290)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023
and 31 December 2023 9,710
DEPRECIATION
At 1 January 2023 1,537
Charge for year 2,230
At 31 December 2023 3,767
NET BOOK VALUE
At 31 December 2023 5,943
At 31 December 2022 8,173

5. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Participating interests 50,000 50,000
Loans to undertakings in which the company
has a participating interest

161,106

161,106
211,106 211,106

Additional information is as follows:
Interest
in other
participating
interests
£   
COST
At 1 January 2023
and 31 December 2023 50,000
NET BOOK VALUE
At 31 December 2023 50,000
At 31 December 2022 50,000
Loans to
other
participating
interests
£   
At 1 January 2023
and 31 December 2023 161,106

Interest in and loans to other participating interests relate to the company's 25% membership of Fleet Suites LLP. Loans to other participating interests includes a non interest bearing loan of £152,125, and other loans amounting to £8,981.

Helvellyn Properties Limited (Registered number: 02328290)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 600,000
NET BOOK VALUE
At 31 December 2023 600,000
At 31 December 2022 600,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 600,000

The valuation was made by J D Aitchison (director), who is a qualified member of the Royal Institute of Chartered Surveyors, on an open market value for existing use basis. The historical cost of the investment property was £614,764 (2022: £614,764). The investment property is held for letting to tenants under operating leases.

7. STOCKS
2023 2022
£    £   
Development site 405,457 356,723

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by participating interests 12,426 14,097
Other debtors 9,375 21,790
21,801 35,887

Amounts due from participating interests are the company's share of the accumulated undistributed profits of Fleet Suites LLP as at the balance sheet date.

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,226 7,893
Taxation and social security 2,709 1,152
Other creditors 16,536 16,535
21,471 25,580

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
20,668 Ordinary £1 20,668 20,668

Helvellyn Properties Limited (Registered number: 02328290)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. ULTIMATE CONTROLLING PARTY

The controlling party is Helvellyn Holdings Limited.

The ultimate controlling party is J D Aitchison.