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Company registration number: 07961008

Hellier Asset Management Limited

Filleted Annual Report and Unaudited Financial Statements

for the Period from 1 April 2023 to 30 June 2024

 

Hellier Asset Management Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Hellier Asset Management Limited

(Registration number: 07961008)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

-

29,355

Tangible assets

4

68,796

96,999

Investment property

5

5,860,194

6,161,080

 

5,928,990

6,287,434

Current assets

 

Debtors

7

4,741,410

3,407,530

Other financial assets

6

53,032

-

Cash at bank and in hand

 

705,910

55,238

 

5,500,352

3,462,768

Creditors: Amounts falling due within one year

8

(9,604,966)

(9,384,597)

Net current liabilities

 

(4,104,614)

(5,921,829)

Total assets less current liabilities

 

1,824,376

365,605

Creditors: Amounts falling due after more than one year

8

(1,347,440)

-

Provisions for liabilities

 

Deferred tax liabilities

 

(17,199)

(36,674)

Net assets

 

459,737

328,931

Capital and reserves

 

Called up share capital

1

1

Fair value reserve

 

57,294

33,617

Profit and loss account

402,442

295,313

Total equity

 

459,737

328,931

 

Hellier Asset Management Limited

(Registration number: 07961008)
Balance Sheet as at 30 June 2024

For the financial period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.

Approved and authorised by the director on 28 January 2025 .
 


M Hellier
Director

   
 

Hellier Asset Management Limited

Notes to the Unaudited Financial Statements
for the Period from 1 April 2023 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Lupin Way
Yeovil
Somerset
BA22 8WW

2

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

These financial statements are presented in Sterling (£).

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for rental income in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Rental income received in advance of the period to which it relates is included as deferred income within other creditors on the balance sheet.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Hellier Asset Management Limited

Notes to the Unaudited Financial Statements
for the Period from 1 April 2023 to 30 June 2024

The current 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 taxable income.

Deferred tax is recognised on timing differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Depreciation of tangible assets

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

Plant and Machinery

20% Reducing Balance

Fixtures and Fittings

20% Straight Line

Computer Equipment

20% Straight Line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised through the profit or loss but are shown separately on the balance sheet as a non-distributable fair value reserve. A transfer is made at the year end from the profit and loss reserve to the fair value reserve for the movement during the year.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtor.

 

Hellier Asset Management Limited

Notes to the Unaudited Financial Statements
for the Period from 1 April 2023 to 30 June 2024

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 Profit and Loss Account 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.

Assets held under hire purchase agreements are capitalised as tangible fixed assets with the future obligation being recognised as a liability. Finance costs are recognised in the Profit and Loss Account calculated at a constant periodic rate of interest over the term of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period was 1 (2023 - 2).

 

Hellier Asset Management Limited

Notes to the Unaudited Financial Statements
for the Period from 1 April 2023 to 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 April 2023

107,599

32,190

11,000

150,789

Additions

5,048

-

-

5,048

At 30 June 2024

112,647

32,190

11,000

155,837

Depreciation

At 1 April 2023

43,040

8,550

2,200

53,790

Charge for the period

25,136

5,910

2,205

33,251

At 30 June 2024

68,176

14,460

4,405

87,041

Carrying amount

At 30 June 2024

44,471

17,730

6,595

68,796

At 31 March 2023

64,559

23,640

8,800

96,999

5

Investment properties

30 June 2024
 £

At 1 April 2023

6,161,080

Additions

187,248

Disposals

(488,134)

At 30 June 2024

5,860,194

The investment properties were revalued on 30 June 2024 by the director who is internal to the company. The valuation was conducted at current open market value.

There has been no valuation of the investment property by an independent valuer.

 

Hellier Asset Management Limited

Notes to the Unaudited Financial Statements
for the Period from 1 April 2023 to 30 June 2024

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

At 1 April 2023

29,355

29,355

Fair value adjustments

23,677

23,677

At 30 June 2024

53,032

53,032

Impairment

Carrying amount

At 30 June 2024

53,032

53,032

7

Debtors

Current

2024
£

2023
£

Trade debtors

4,270

908

Prepayments

34,809

17,174

Other debtors

62

11,974

Amounts owed by group undertakings

4,702,269

3,377,474

 

4,741,410

3,407,530

 

Hellier Asset Management Limited

Notes to the Unaudited Financial Statements
for the Period from 1 April 2023 to 30 June 2024

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

160,528

-

Trade creditors

 

19,233

12,447

Taxation and social security

 

41,421

46,123

Accruals and deferred income

 

29,081

26,583

Other creditors

 

2,999

3,000

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

9,351,704

9,296,444

 

9,604,966

9,384,597

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

160,528

-

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,347,440

-

10

Related party transactions

Summary of transactions with parent

The company has taken advantage of the exemptions provided from disclosing transactions with its parent and other wholly owned group companies on the grounds that it is a wholly owned subsidiary.
 

11

Parent and ultimate parent undertaking

The company's immediate parent is Hellier Capital Holdings Limited, incorporated in England.

 The ultimate parent is Hellier Group Holdings Limited, incorporated in England.

  These financial statements are available upon request from Companies House, Cardiff