Registered number
04444449
Helnick Limited
Unaudited Filleted Accounts
30 September 2024
Helnick Limited
Registered number: 04444449
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 25,886 23,647
Current assets
Stocks 3,210 3,373
Debtors 5 17,214 32,612
Cash at bank and in hand 81,612 83,407
102,036 119,392
Creditors: amounts falling due within one year 6 (80,734) (123,454)
Net current assets/(liabilities) 21,302 (4,062)
Total assets less current liabilities 47,188 19,585
Creditors: amounts falling due after more than one year 7 (6,672) (12,571)
Provisions for liabilities (5,788) (4,580)
Net assets 34,728 2,434
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 33,728 1,434
Shareholders' funds 34,728 2,434
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Nicholas Wedgery
Director
Approved by the board on 7 January 2025
Helnick Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leashold property improvements Over the period of the lease
Plant and machinery over 5 years
Motor vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Intangible fixed assets £ £ £
Goodwill: Goodwill Website Total
Cost
At 1 October 2023 125,000 3,544 128,544
At 30 September 2024 125,000 3,544 128,544
Amortisation
At 1 October 2023 125,000 3,544 128,544
At 30 September 2024 125,000 3,544 128,544
Net book value
At 30 September 2024 - - -
Goodwill was written off in equal annual instalments over its estimated economic life of 5 years and website costs over 4 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 7,077 31,059 24,995 63,131
Additions - 11,745 16,000 27,745
Disposals - (12,000) (24,995) (36,995)
At 30 September 2024 7,077 30,804 16,000 53,881
Depreciation
At 1 October 2023 4,899 29,586 4,999 39,484
Charge for the year 2,178 3,065 4,849 10,092
On disposals - (12,000) (9,581) (21,581)
At 30 September 2024 7,077 20,651 267 27,995
Net book value
At 30 September 2024 - 10,153 15,733 25,886
At 30 September 2023 2,178 1,473 19,996 23,647
5 Debtors 2024 2023
£ £
Trade debtors 12,279 19,292
Amounts recoverable on contracts 385 4,091
Other debtors 4,550 9,229
17,214 32,612
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,899 5,779
Trade creditors 2,268 8,172
Taxation and social security costs 30,064 27,585
Other creditors 42,503 81,918
80,734 123,454
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,672 12,571
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 97,198 131,306
9 Other information
Helnick Limited is a private company limited by shares and incorporated in England. Its registered office is:
43 Sidwell Street
Exeter
Devon
EX4 6NS
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