Registered number: 09890838
ABERDEEN HELIX HOUSE GP LIMITED
Directors' Report and Financial Statements
For the Year Ended 31 March 2024
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ABERDEEN HELIX HOUSE GP LIMITED
Company Information
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Chartered Certified Accountants & Statutory Auditor
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ABERDEEN HELIX HOUSE GP LIMITED
Contents
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Directors' Responsibilities Statement
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Independent Auditor's Report
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Statement of Comprehensive Income
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Statement of Financial Position
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Statement of Changes in Equity
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Notes to the Financial Statements
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ABERDEEN HELIX HOUSE GP LIMITED
Directors' Report
For the Year Ended 31 March 2024
The directors present their report and the audited financial statements of Aberdeen Helix House GP Limited (the 'company') for the year ended 31 March 2024. The comparative period is from 6 April 2022 to 31 March 2023.
The principal activity of the company during the year was that of investment in a limited partnership.
The loss for this reporting year amounted to £43,756 (2023: profit of £58,100).
The directors do not recommend the payment of a dividend for this reporting year (2023: £Nil).
The directors who served during the year and up to date of this report were as follows:
Disclosure of information to auditor
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Each of the persons who is a director at the date of approval of this report confirms that:
∙so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and
∙they have taken all the steps that ought to have been taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
The auditor, Asta Accountants Ltd, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
Small companies provisions
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In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board of directors and signed on their behalf by:
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ABERDEEN HELIX HOUSE GP LIMITED
Directors' Responsibilities Statement
For the Year Ended 31 March 2024
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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ABERDEEN HELIX HOUSE GP LIMITED
Independent Auditor's Report to the Members of Aberdeen Helix House GP Limited
We have audited the financial statements of Aberdeen Helix House GP Limited (the 'company') for the year ended 31 March 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
∙give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its loss for the year then ended;
∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
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We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report to you where:
The directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
The directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
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ABERDEEN HELIX HOUSE GP LIMITED
Independent Auditor's Report to the Members of Aberdeen Helix House GP Limited (continued)
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
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In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Directors' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
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In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
∙the financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of directors' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit; or
∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.
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ABERDEEN HELIX HOUSE GP LIMITED
Independent Auditor's Report to the Members of Aberdeen Helix House GP Limited (continued)
Responsibilities of directors
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As explained more fully in the Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
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Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Capability of the audit in detecting irregularities, including fraud.
Based on our understanding of the company and industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to limited partnerships, tax legislation, data protection, environmental protection and health and safety regulations. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006.
We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries to increase revenue and management bias in accounting estimates.
Audit procedures performed by the engagement team included, but were not limited to:
- enquiries with management including consideration of known or suspected instances of fraud and non-compliance with laws and regulations;
- inspecting correspondence with regulators and tax authorities;
- challenging assumptions and judgements made by management in determining significant accounting estimates;
- identifying and testing journal entries, in particular journal entries posted with unusual account combinations, journal entries crediting cash and journal entries with specific defined descriptions;
- challenging why certain items are excluded or included from underlying profit and review of disclosures included in the Annual Report.
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ABERDEEN HELIX HOUSE GP LIMITED
Independent Auditor's Report to the Members of Aberdeen Helix House GP Limited (continued)
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
∙Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
∙Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the company's internal control.
∙Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
∙Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.
∙Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
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ABERDEEN HELIX HOUSE GP LIMITED
Independent Auditor's Report to the Members of Aberdeen Helix House GP Limited (continued)
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
Jayantkumar Maganlal Mistry (Senior Statutory Auditor)
For and on behalf of
Asta Accountants Ltd
Chartered Certified Accountants & Statutory Auditor
Devonshire House
582 Honeypot Lane
Stanmore
HA7 1JS
3 July 2024
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ABERDEEN HELIX HOUSE GP LIMITED
Statement of Comprehensive Income
For the Year Ended 31 March 2024
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Period from 6 April 2022 -
31 March
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(Loss)/profit for the financial year/period and total comprehensive loss/income
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All the activities of the company are from continuing operations.
The notes on pages 11 to 13 form part of these financial statements.
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ABERDEEN HELIX HOUSE GP LIMITED
Registered number: 09890838
Statement of Financial Position
As at 31 March 2024
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Debtors: amounts falling due within one year
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Total assets less current liabilities
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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 were approved and authorised for issue by the board of directors and were signed on their behalf by:
Company registration number: 09890838
The notes on pages 11 to 13 form part of these financial statements.
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ABERDEEN HELIX HOUSE GP LIMITED
Statement of Changes in Equity
For the Year Ended 31 March 2024
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Total comprehensive income for the period
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Total comprehensive loss for the year
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The notes on pages 11 to 13 form part of these financial statements.
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ABERDEEN HELIX HOUSE GP LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2024
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4th Floor, 22 Baker Street, London, W1U 3BW, England.
2.Accounting policies
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Basis of preparation of financial statements
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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.
These financial statements are presented in Sterling (£), which is the functional currency of the entity. All amounts are rounded to the nearest Pound (£), except when otherwise indicated.
The following principal accounting policies have been applied:
The directors, after making enquiries and considering the available resources, have formed a judgement that there is a reasonable expectation that the company has adequate resources to continue operations in the foreseeable future, along with on going support from the controlling and parent companies. Therefore the going concern basis has been adopted for these financial statements.
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.
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.
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Cash and cash equivalents
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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.
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ABERDEEN HELIX HOUSE GP LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2024
2.Accounting policies (continued)
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.
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The company has no employees other than the directors, who did not receive any remuneration (2023: £Nil).
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Debtors: amounts falling due within one year
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Amounts owed by group undertakings
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Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
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ABERDEEN HELIX HOUSE GP LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2024
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Allotted, called up and fully paid
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15 Ordinary shares of £1 each
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Related party transactions
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No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.
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Ultimate parent undertaking and controlling party
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The company's ultimate parent undertaking is Aprirose Holding Limited, a company incorporated in England and Wales.
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