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REGISTERED NUMBER: 03257217 (England and Wales)











Financial Statements

for the Year Ended 31 December 2023

for

Helios Technology Limited

Helios Technology Limited (Registered number: 03257217)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Helios Technology Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Dr C M Davies
M Scott
A Parkinson
X R P Odolant



SECRETARY: Pinsent Masons Secretarial Limited



REGISTERED OFFICE: 29 Hercules Way
Aerospace Boulevard Aeropark
Farnborough
Hampshire
GU14 6UU



REGISTERED NUMBER: 03257217 (England and Wales)



SENIOR STATUTORY AUDITOR: Caroline Milton FCA



AUDITORS: Menzies LLP
Chartered Accountants
Statutory Auditor
Ashcombe House
5 The Crescent
Leatherhead
Surrey
KT22 8DY

Helios Technology Limited (Registered number: 03257217)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 14,169 17,304
Investments 5 5,090 5,090
19,259 22,394

CURRENT ASSETS
Debtors: amounts falling due within one year 6 3,156,721 2,729,501
Debtors: amounts falling due after more than
one year

6

63,898

74,616
Cash at bank and in hand 422,376 997,296
3,642,995 3,801,413
CREDITORS
Amounts falling due within one year 7 (992,416 ) (1,141,362 )
NET CURRENT ASSETS 2,650,579 2,660,051
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,669,838

2,682,445

CAPITAL AND RESERVES
Called up share capital 4,212 4,212
Share premium 63,785 63,785
Capital redemption reserve 1,559 1,559
Retained earnings 2,600,282 2,612,889
SHAREHOLDERS' FUNDS 2,669,838 2,682,445

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 7 November 2024 and were signed on its behalf by:





A Parkinson - Director


Helios Technology Limited (Registered number: 03257217)

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


1. STATUTORY INFORMATION

Helios Technology 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 (£).


2. ACCOUNTING POLICIES

Basis of preparation of financial statements
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.

The following principal accounting policies have been applied:

Consolidation
The company and its subsidiary undertaking comprise a small group. The company has therefore taken advantage of the exemption provided by Section 399(2A) of the Companies Act 2006 not to prepare group accounts.

Turnover
Turnover represents consultancy services provided, which are measured at the fair value of work performed, excluding discounts, rebates, value added tax and other sales taxes.

Revenue recognised as amounts recoverable on long-term contacts is shown within accrued income in these accounts, and is recognised on a individual basis as activity progresses in accordance with the substance of each contract, when the stage of completion can be estimated reliably. The stage of completion is estimated using a range of factors, including costs incurred, amounts already recognised under the contract, and estimated costs to completion.

Tangible fixed assets
Tangible fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 10% on cost


Investments in group undertakings
Investments in group undertakings are shown under fixed asset investments in these accounts, and are recognised at cost less any accumulated provisions for impairment, which is assessed by the directors at each reporting date.

Financial instruments
With the exception of the derivatives below, the company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Derivatives
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in the Income Statement immediately. A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.


Helios Technology Limited (Registered number: 03257217)

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


2. ACCOUNTING POLICIES - continued
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 statement of financial position date, adjusted where applicable for double taxation relief in respect of foreign tax suffered.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 the 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.

R&D
Expenditure on R&D activities is included in the Income Statement in the year in which it is incurred.

Foreign currencies
Transactions in currencies other than Pounds Sterling, which is the functional and presentation currency of the company, are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date, including assets and liabilities of foreign branches. Gains and losses arising on translation are included in the Income Statement for the period.

The results of foreign branches are included in the Income Statement at the average exchange rate for the
year.

The company used forward contracts to manage its foreign currency risk exposure. These are accounted for in the financial statements at fair value, and shown under derivatives in the debtors note.

Operating leases
Rentals paid under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease.

Short-term rentals are charged to the Income Statement when incurred, as adjusted for any amounts relating to periods extending after the current reporting period.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the scheme are charged to the Income Statement in the period to which they relate.

Dividends
Dividends are recognised when the shareholder's right to receive payment is established.

Interest receivable
Interest receivable is recognised in profit or loss using the effective interest method.

Interest payable
Interest payable is recognised in profit or loss using the effective interest method.

Helios Technology Limited (Registered number: 03257217)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2022 - 41 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2023 164,197 89,071 253,268
Additions 4,328 387 4,715
At 31 December 2023 168,525 89,458 257,983
DEPRECIATION
At 1 January 2023 159,439 76,525 235,964
Charge for year 4,595 3,255 7,850
At 31 December 2023 164,034 79,780 243,814
NET BOOK VALUE
At 31 December 2023 4,491 9,678 14,169
At 31 December 2022 4,758 12,546 17,304

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 5,090
NET BOOK VALUE
At 31 December 2023 5,090
At 31 December 2022 5,090

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 352,557 267,912
Amounts owed by group undertakings 1,156,381 1,278,802
Other debtors 10,428 10,723
Derivatives - 5,864
Directors' loan accounts 5,354 5,709
Tax 1,585 89,429
Prepayments and accrued income 1,630,416 1,071,062
3,156,721 2,729,501

Helios Technology Limited (Registered number: 03257217)

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


6. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 32,745 38,423
Directors' loan accounts 31,153 36,193
63,898 74,616

Aggregate amounts 3,220,619 2,804,117

Amounts owed by group undertakings are interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 109,831 136,073
Amounts owed to group undertakings 279,684 290,543
Social security and other taxes 70,290 92,043
Other creditors 24,337 20,069
Accruals and deferred income 508,274 602,634
992,416 1,141,362

Amounts owed to group undertakings are interest free and repayable on demand.

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 112,197 44,993
Between one and five years 439,818 20,930
In more than five years 424,868 -
976,883 65,923

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Caroline Milton FCA (Senior Statutory Auditor)
for and on behalf of Menzies LLP

Helios Technology Limited (Registered number: 03257217)

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


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
M Scott
Balance outstanding at start of year 15,517 40,484
Amounts repaid (1,683 ) (24,967 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,834 15,517

Dr C M Davies
Balance outstanding at start of year - 49,753
Amounts repaid - (49,753 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

A Parkinson
Balance outstanding at start of year 26,385 30,003
Amounts repaid (3,712 ) (3,618 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,673 26,385

The above loan to M Scott, which is denominated in Euros, is interest free and due for repayment in equal annual instalments by 1 March 2030. The payment for 2020 was deferred until the end of the agreement.

The above loan to Dr C M Davies, which was denominated in Euros, was interest free. During the prior year this loan was repaid via the debt being transferred to another group company.

The above loan to A Parkinson, which is denominated in Euros, is interest free and due for repayment in equal annual instalments by 1 March 2029. The payment for 2020 was deferred until the end of the agreement. The loan above is shown as an addition during 2021 as A Parkinson was made a director during the year. The loan was pre-existing, and was previously shown under other debtors.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. PARENT COMPANIES

The parent company of the smallest and largest group of which Helios Technology Limited is a member which prepares consolidated accounts is Egis S.A, a company registered at 15, Avenue de Centre, CS20538 Guyancourt, 78286 St Quentin en Yvelines, France.

13. SECURITIES AND GUARANTEES

A debenture is in issue in favour of the company's bank comprising fixed and floating charges over the assets of the company.

The company has guaranteed its performance of various contracts to a total value as at 31 December 2023 of 396,788 Euros (2022: 376,435 Euros and 55,104 Polish Zlotys).

Helios Technology Limited (Registered number: 03257217)

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


14. CONTINGENT LIABILITY

During the year the company received £46,111 from HM Revenue & Customs in respect of its R&D claim for 2021. The company's corporation tax return for that year is currently under enquiry by HM Revenue & Customs, the outcome of which cannot be reliably estimated. It is possible that as a result of the enquiry part or all of the amount received may be repayable once the enquiry has concluded, however it is not possible to estimate the date of conclusion.