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REGISTERED NUMBER: 07205356 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Helmsman Systems Limited

Helmsman Systems Limited (Registered number: 07205356)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Helmsman Systems Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P J Morgan
Mrs L M Morgan





REGISTERED OFFICE: Dunstars Farm
Bemzells Lane
Cowbeech
East Sussex
BN27 4QD





REGISTERED NUMBER: 07205356 (England and Wales)





ACCOUNTANTS: Caburn Accountants Limited
Chartered Certified Accountants
First Floor,
The Estate Office
The Green, Lewes Road
Ringmer
East Sussex
BN8 5QE

Helmsman Systems Limited (Registered number: 07205356)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 58,993 59,709

CURRENT ASSETS
Stocks 70,500 100,500
Debtors 5 44,960 65,316
Cash at bank 92 544
115,552 166,360
CREDITORS
Amounts falling due within one year 6 162,201 196,030
NET CURRENT LIABILITIES (46,649 ) (29,670 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,344

30,039

CREDITORS
Amounts falling due after more than one
year

7

11,983

29,252
NET ASSETS 361 787

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 261 687
SHAREHOLDERS' FUNDS 361 787

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Helmsman Systems Limited (Registered number: 07205356)

Balance Sheet - continued
31 March 2024


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 24 February 2025 and were signed on its behalf by:





P J Morgan - Director


Helmsman Systems Limited (Registered number: 07205356)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Helmsman Systems 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Helmsman Systems Limited (Registered number: 07205356)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 42,292 84,984 5,641
Additions - - -
Disposals - - -
At 31 March 2024 42,292 84,984 5,641
DEPRECIATION
At 1 April 2023 13,168 63,496 4,727
Charge for year 2,115 5,372 183
At 31 March 2024 15,283 68,868 4,910
NET BOOK VALUE
At 31 March 2024 27,009 16,116 731
At 31 March 2023 29,124 21,488 914

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 25,259 15,068 173,244
Additions 17,000 - 17,000
Disposals (5,000 ) - (5,000 )
At 31 March 2024 37,259 15,068 185,244
DEPRECIATION
At 1 April 2023 19,636 12,508 113,535
Charge for year 4,406 640 12,716
At 31 March 2024 24,042 13,148 126,251
NET BOOK VALUE
At 31 March 2024 13,217 1,920 58,993
At 31 March 2023 5,623 2,560 59,709

Helmsman Systems Limited (Registered number: 07205356)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 44,960 65,316

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 80,222 90,567
Trade creditors 48,891 62,957
Taxation and social security 21,606 29,760
Other creditors 11,482 12,746
162,201 196,030

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 11,983 29,252

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdrafts 70,222 75,618
Bank loans 21,983 44,201
92,205 119,819