Company registration number 03399601 (England and Wales)
HELMWALL HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
HELMWALL HOLDINGS LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
Group balance sheet
2
Company balance sheet
3
Notes to the financial statements
6 - 11
HELMWALL HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 1 -

The directors present their annual report and financial statements of Helmwall Holdings Limited (the "company") and its subsidiaries (together the "group") for the period ended 31 December 2024.

Results

The Group turnover represents in its entirety full and final settlement of the contingent asset as described on Note 17 of the Group's 2022 accounts.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

Ms A S N Lim
(Resigned 3 January 2024)
Mr K Y Yong
Mr T Y Yong
Mr D Yong
Mr Paul Grashei
(Appointed 5 January 2024)
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr K Y Yong
Director
6 June 2025
HELMWALL HOLDINGS LIMITED
GROUP BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
31 December 2024
30 June 2023
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Tangible assets
3
2
2
Current assets
Debtors
6
2,687
290,426
Cash at bank and in hand
166,938
263,627
169,625
554,053
Creditors: amounts falling due within one year
7
(169,627)
(262,488)
Net current (liabilities)/assets
(2)
291,565
Net assets
-
291,567
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
(2)
291,565
Total equity
-
0
291,567

The directors of the group have elected not to include a copy of the profit and loss account within the financial statements.

For the financial period ended 31 December 2024 the group was entitled to exemption from audit under section 477 of the Companies Act 2006.

Directors' responsibilities under the Companies Act 2006:

 

These financial statements have been prepared in accordance with the provisions applicable to groups and companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 June 2025 and are signed on its behalf by:
06 June 2025
Mr K Y Yong
Director
Company registration number 03399601 (England and Wales)
HELMWALL HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 3 -
31 December 2024
30 June 2023
Notes
£
£
£
£
Fixed assets
Investments
4
4
4
Current assets
Debtors
6
123,688
45,328
Cash at bank and in hand
29,388
44,221
153,076
89,549
Creditors: amounts falling due within one year
7
(153,078)
(20,000)
Net current (liabilities)/assets
(2)
69,549
Net assets
2
69,553
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
-
0
69,551
Total equity
2
69,553

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £874,487 (2023 - £84,192 profit).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 June 2025 and are signed on its behalf by:
06 June 2025
Mr K Y Yong
Director
Company registration number 03399601 (England and Wales)
HELMWALL HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 4 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 July 2022
2
268,617
268,619
Year ended 30 June 2023:
Profit and total comprehensive income
-
22,948
22,948
Balance at 30 June 2023
2
291,565
291,567
Period ended 31 December 2024:
Profit and total comprehensive income
-
652,471
652,471
Dividends
-
(944,038)
(944,038)
Balance at 31 December 2024
2
(2)
-
0
HELMWALL HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 5 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 July 2022
2
(14,641)
(14,639)
Year ended 30 June 2023:
Profit and total comprehensive income for the year
-
84,192
84,192
Balance at 30 June 2023
2
69,551
69,553
Period ended 31 December 2024:
Profit and total comprehensive income
-
874,487
874,487
Dividends
-
(944,038)
(944,038)
Balance at 31 December 2024
2
-
0
2
HELMWALL HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 6 -
1
Accounting policies
Company information

Helmwall Holdings Limited (“the company”) and its subsidiaries ("the group") are private companies limited by shares and incorporated in England and Wales. The registered office is 48 The Avenue, Brondesbury Park, London, NW6 7NP.

1.1
Reporting period

The financial statements represent a period of accounts between 01 July 2023 to 31 December 2024. Therefore the figures are not directly comparable with the prior period.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006. The disclosure requirements of FRS 102 have been applied.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The consolidated and separate financial statements have been prepared on a going concern basis under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below and have been applied consistently to all years presented.

1.3
Basis of consolidation

The consolidated financial statements incorporate those of Helmwall Holdings Limited and all of its subsidiaries (ie entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits).

 

All financial statements are made up to 31 December 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of the properties is recognised when the significant risks and rewards of ownership of the property have passed to the buyer (in this case, the completion of contracts), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

HELMWALL HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 7 -

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term, except where the period to the review date on which the rent is first expected to be adjusted to the prevailing market rate is shorter than the full lease term, in which case the shorter period is used.

 

Revenue from rental income is recognised when it becomes due and any that straddles the year end will be deferred or accrued as necessary.

 

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised on tangible fixed assets over their useful lives on the following bases:

Fixtures, fittings & equipment
25% reducing balance
Computer equipment
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.6
Investment in subsidiaries

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Impairment of non-financial assets

At each reporting period end date, the group and the company review the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss.

HELMWALL HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 8 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

1.8
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

HELMWALL HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 9 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

 

The shareholder loan and the amounts due to group undertakings and related parties are repayable on demand and there is no interest being accrued on them.

Other financial liabilities

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Ordinary shares are classified as equity instruments. Equity instruments issued by the group are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

HELMWALL HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 10 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the group and company during the period was:

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Total
-
-
-
0
-
0
3
Tangible fixed assets
Group
Plant and machinery
£
Cost
At 1 July 2023 and 31 December 2024
136,388
Depreciation and impairment
At 1 July 2023 and 31 December 2024
136,386
Carrying amount
At 31 December 2024
2
At 30 June 2023
2
4
Investment in subsidiaries
Group
Company
2024
2023
2024
2023
£
£
£
£
Investments
-
-
4
4
HELMWALL HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
4
Investment in subsidiaries
(Continued)
- 11 -
5
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Helmwall Properties Limited
48 The Avenue, London, NW6 7NP
Ordinary
100.00
Pal Properties Limted
48 The Avenue, London, NW6 7NP
Ordinary
100.00
6
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
-
0
1,718
-
0
-
0
Amounts owed by group
-
0
-
0
123,688
45,328
Other debtors
2,687
288,708
-
-
2,687
290,426
123,688
45,328
7
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
£
£
£
£
Trade creditors
273
242,488
-
0
-
0
Other creditors
169,354
20,000
153,078
20,000
169,627
262,488
153,078
20,000
8
Share capital
Group and company
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary class A shares of £1 each
2
2
2024-12-312023-07-01falsefalseCCH SoftwareCCH Accounts Production 2025.100No description of principal activityMs A S N LimMr K Y YongMr T Y YongMr D YongMr Paul Grasheifalse03399601bus:Consolidated2023-07-012024-12-31033996012023-07-012024-12-3103399601bus:Director12023-07-012024-12-3103399601bus:Director22023-07-012024-12-3103399601bus:Director32023-07-012024-12-3103399601bus:Director42023-07-012024-12-3103399601bus:Director52023-07-012024-12-31033996012024-12-3103399601bus:Consolidated2024-12-3103399601bus:Consolidated2023-06-3003399601core:OtherPropertyPlantEquipmentbus:Consolidated2024-12-3103399601core:OtherPropertyPlantEquipmentbus:Consolidated2023-06-30033996012023-06-3003399601core:ShareCapitalbus:Consolidated2024-12-3103399601core:ShareCapitalbus:Consolidated2023-06-3003399601core:RetainedEarningsAccumulatedLossesbus:Consolidated2024-12-3103399601core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-06-3003399601core:ShareCapital2024-12-3103399601core:ShareCapital2023-06-3003399601core:RetainedEarningsAccumulatedLosses2024-12-3103399601core:RetainedEarningsAccumulatedLosses2023-06-3003399601core:ShareCapitalbus:Consolidated2022-06-30033996012022-06-3003399601core:ShareCapital2022-06-3003399601core:RetainedEarningsAccumulatedLosses2022-06-30033996012022-07-012023-06-3003399601core:FurnitureFittings2023-07-012024-12-3103399601core:ComputerEquipment2023-07-012024-12-3103399601core:OtherPropertyPlantEquipmentbus:Consolidated2023-06-3003399601core:Subsidiary12023-07-012024-12-3103399601core:Subsidiary22023-07-012024-12-3103399601core:Subsidiary112023-07-012024-12-3103399601core:Subsidiary222023-07-012024-12-3103399601core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2024-12-3103399601core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-06-3003399601core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3103399601core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3003399601core:CurrentFinancialInstrumentsbus:Consolidated2024-12-3103399601core:CurrentFinancialInstrumentsbus:Consolidated2023-06-3003399601core:CurrentFinancialInstruments2024-12-3103399601core:CurrentFinancialInstruments2023-06-3003399601bus:PrivateLimitedCompanyLtd2023-07-012024-12-3103399601bus:SmallCompaniesRegimeForAccounts2023-07-012024-12-3103399601bus:FRS1022023-07-012024-12-3103399601bus:AuditExemptWithAccountantsReport2023-07-012024-12-3103399601bus:ConsolidatedGroupCompanyAccounts2023-07-012024-12-3103399601bus:FullAccounts2023-07-012024-12-31xbrli:purexbrli:sharesiso4217:GBP