Helios Property Group Ltd
Registered number: 12092871
Statement of Financial Position
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 272,129 272,129
Current assets
Cash at bank and in hand 8,278 13,152
Creditors: amounts falling due within one year 4 (82,501) (87,893)
Net current liabilities (74,223) (74,741)
Total assets less current liabilities 197,906 197,388
Creditors: amounts falling due after more than one year 5 (191,511) (191,431)
Net assets 6,395 5,957
Capital and reserves
Called up share capital 8 8
Profit and loss account 6,387 5,949
Shareholder's funds 6,395 5,957
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 member has 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 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.
T Partington
Director
Approved by the board on 5 March 2025
Helios Property Group Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from property rental. Turnover from the rental is recognised by reference to the stage of completion of the tenancy.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Investment property
Investment property is included at fair value. Gains and losses are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 August 2023 272,129
At 31 July 2024 272,129
Depreciation
At 31 July 2024 -
Net book value
At 31 July 2024 272,129
At 31 July 2023 272,129
Freehold land and buildings: 2024 2023
£ £
Historical cost 272,129 272,129
Cumulative depreciation based on historical cost - -
272,129 272,129
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 550 -
Accruals 912 1,170
Corporation tax 103 2,099
Other creditors 80,936 84,624
82,501 87,893
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 191,511 191,431
6 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 191,511 191,431
Belmont Green Finance Limited hold a charge against the investment property. The loan contains a negative pledge.
7 Other information
Helios Property Group Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20 Cranmore Gardens
Aldershot
Hampshire
GU11 3BE
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