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COMPANY REGISTRATION NUMBER: 06412478
HELIACE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2024
HELIACE LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
37,771
34,148
Current assets
Debtors
6
10,879
1,299
Cash at bank and in hand
23,232
39,663
---------
---------
34,111
40,962
Creditors: amounts falling due within one year
7
56,320
39,766
---------
---------
Net current (liabilities)/assets
( 22,209)
1,196
---------
---------
Total assets less current liabilities
15,562
35,344
Creditors: amounts falling due after more than one year
8
3,738
8,631
Provisions
Taxation including deferred tax
7,684
5,066
---------
---------
Net assets
4,140
21,647
---------
---------
HELIACE LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
149
149
Profit and loss account
3,991
21,498
-------
---------
Shareholders funds
4,140
21,647
-------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 May 2025 , and are signed on behalf of the board by:
Captain M K D Little
Director
Company registration number: 06412478
HELIACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brookview, Lower Street, Ninfield, Battle, East Sussex, TN22 9EA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.
The directors consider that the uncertainty caused in the company's industry as a result of Coronavirus and the recovery from the restrictions put in place by the government should not materially affect the company's ability to continue as a going concern.
This assumption has been continued as the economy is hit by the cost of living crisis, and world economic impact of the war in Ukraine.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Land and Building
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Land and buildings
Total
£
£
£
£
£
£
Cost
At 1 Jan 2024
11,532
8,361
51,122
15,565
25,830
112,410
Additions
480
12,872
13,352
---------
-------
---------
---------
---------
----------
At 31 Dec 2024
11,532
8,841
51,122
15,565
38,702
125,762
---------
-------
---------
---------
---------
----------
Depreciation
At 1 Jan 2024
11,167
7,908
31,405
13,145
14,637
78,262
Charge for the year
91
234
4,929
605
3,870
9,729
---------
-------
---------
---------
---------
----------
At 31 Dec 2024
11,258
8,142
36,334
13,750
18,507
87,991
---------
-------
---------
---------
---------
----------
Carrying amount
At 31 Dec 2024
274
699
14,788
1,815
20,195
37,771
---------
-------
---------
---------
---------
----------
At 31 Dec 2023
365
453
19,717
2,420
11,193
34,148
---------
-------
---------
---------
---------
----------
6. Debtors
2024
2023
£
£
Trade debtors
9,679
144
Other debtors
1,200
1,155
---------
-------
10,879
1,299
---------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
5,001
3,212
Social security and other taxes
3,648
244
Other creditors
47,671
36,310
---------
---------
56,320
39,766
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
3,738
8,631
-------
-------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Captain M K D Little
( 463)
79
( 384)
----
----
----
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Captain M K D Little
( 359)
( 104)
( 463)
----
----
----
10. Related party transactions
The company was under the control of Captain M Little throughout the current and previous year. Captain Little is the managing director and majority shareholder. Captain M Little and Mrs G Little are both directors of GBA Homes Ltd.