Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-31131956172024-12-31false2024-01-01falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13195617 2024-01-01 2024-12-31 13195617 2023-01-01 2023-12-31 13195617 2024-12-31 13195617 2023-12-31 13195617 1 2024-01-01 2024-12-31 13195617 d:Director2 2024-01-01 2024-12-31 13195617 c:CurrentFinancialInstruments 2024-12-31 13195617 c:CurrentFinancialInstruments 2023-12-31 13195617 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 13195617 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 13195617 c:ShareCapital 2024-12-31 13195617 c:ShareCapital 2023-12-31 13195617 c:RetainedEarningsAccumulatedLosses 2024-12-31 13195617 c:RetainedEarningsAccumulatedLosses 2023-12-31 13195617 d:OrdinaryShareClass1 2024-01-01 2024-12-31 13195617 d:OrdinaryShareClass1 2023-01-01 2023-12-31 13195617 d:OrdinaryShareClass1 2024-12-31 13195617 d:OrdinaryShareClass1 2023-12-31 13195617 d:FRS102 2024-01-01 2024-12-31 13195617 d:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 13195617 d:FullAccounts 2024-01-01 2024-12-31 13195617 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13195617 c:Subsidiary1 2024-01-01 2024-12-31 13195617 c:Subsidiary1 1 2024-01-01 2024-12-31 13195617 6 2024-01-01 2024-12-31 13195617 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure



















Helios UK (Italy) Ltd

Registered number: 13195617
Information for filing with
Registrar
For the year ended 31 December 2024

 
 13195617
31 December 2024
HELIOS UK (ITALY) LTD
REGISTERED NUMBER: 13195617

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note

Fixed assets
  

Investments
 5 
10,483,073
8,958,073

  
10,483,073
8,958,073

Current assets
  

Debtors: amounts falling due within one year
 6 
3,357
-

Cash at bank and in hand
  
10,154
15,902

  
13,511
15,902

Creditors: amounts falling due within one year
 7 
(7,789)
(4,305)

Net current assets
  
 
 
5,722
 
 
11,597

Total assets less current liabilities
  
10,488,795
8,969,670

  

Net assets
  
10,488,795
8,969,670


Capital and reserves
  

Called up share capital 
 8 
10,468,604
8,998,256

Profit and loss account
  
20,191
(28,586)

Total equity
  
10,488,795
8,969,670


- 1 -

 
 13195617
31 December 2024
HELIOS UK (ITALY) LTD
REGISTERED NUMBER: 13195617
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


T Rudnicki
Director

Date: 21 July 2025

The notes on pages 3 to 11 form part of these financial statements.

- 2 -

 
 13195617
31 December 2024
HELIOS UK (ITALY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Helios UK (Italy) Ltd is a private company limited by shares incorporated in England and Wales. The company's registered number is 13195617. The address of its registered office and principal place of business is 1 Poultry, London, England, EC2R 8EJ.
The principal activity of the company during the year is that of investment and active management services in renewable energy projects in Italy, as part of a group of companies managing similar investments in UK and EU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
These financial statements have been prepared in Euros as this is the company's functional currency and the currency in which the company undertakes its major financial transactions and is rounded to the nearest Euro.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts. These financial statements therefore present information about the company as an individual undertaking and not abouts its group. 

 
2.3

Going concern

The financial statements are prepared on a going concern basis. The company remains assured of the financial support provided by the shareholders for at least twelve months from the date of the signing of this financial statements. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. 

- 3 -

 
 13195617
31 December 2024
HELIOS UK (ITALY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The company's functional and presentation currency is Euro.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

All other foreign exchange gains and losses are presented in Statement of comprehensive income within 'administrative expenses'.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

- 4 -

 
 13195617
31 December 2024
HELIOS UK (ITALY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment. Investments comprise of the consideration paid for the acquisition plus capitalised legal and professional fees.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

- 5 -

 
 13195617
31 December 2024
HELIOS UK (ITALY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
 
- 6 -

 
 13195617
31 December 2024
HELIOS UK (ITALY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

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 company after the deduction of all its liabilities.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 receipts discounted at a market rate of interest.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

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

  
2.11

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. 

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

- 7 -

 
 13195617
31 December 2024
HELIOS UK (ITALY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The critical judgements that the directors have made in the process of applying the company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below.
Critical judgements in applying the company’s accounting policies
Assessing impairment of investments
Determining the fair value of investments requires the exercise of significant judgment, including but not limited to the amount and timing of expected future cash flows, long-term growth rates and discount rates. When cash flows are employed in the valuation of investments, they are based on the company’s best estimates of future revenues, earnings, and cash flows after considering factors such as general market conditions, changes in working capital, long term business plans, and recent operating performance. Use of different estimates and judgments could yield different results.
Key sources of estimation uncertainty
The directors do not consider there to be any key sources of estimation uncertainty. 


4.


Employees

The average monthly number of employees, including the directors, during the year was 2 (2023: 1). 

- 8 -

 
 13195617
31 December 2024
HELIOS UK (ITALY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Investments





Investments in subsidiary companies




Cost


At 1 January 2024
8,958,073


Additions
1,885,000



At 31 December 2024

10,843,073



Impairment


Charge for the period
360,000



At 31 December 2024

360,000



Net book value



At 31 December 2024
10,483,073


Subsidiary undertaking


The following was a subsidiary undertaking of the company:

Name

Country of incorporation

Class of shares

Holding

HUK 5 Solar PV 1 Srl
Italy
Ordinary
80%


6.


Debtors: amounts falling due within one year

2024
2023


Amounts owed by group undertakings
1,714
-

Prepayments and accrued income
1,643
-

3,357
-


Amounts owed by group undertakings are unsecured, interest free and payable on demand.

- 9 -

 
 13195617
31 December 2024
HELIOS UK (ITALY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Creditors: amounts falling due within one year

2024
2023

Trade creditors
4,105
983

Accruals
3,684
3,322

7,789
4,305



8.


Called up share capital

2024
2023
Allotted, called up and fully paid



7,728,427 (2023: 6,220,242) ordinary shares of £1 each
10,468,604
8,998,256

Each ordinary share carries one vote per share and a right to dividends as and when declared by the company.


On 23 April 2024, the company issued 275,270 shares with a par value of £1 for a consideration of £275,270.
On 17 July 2024, the company issued 168,115 shares with a par value of £1 for a consideration of £168,115.
On 17 September 2024, the company issued 844,603 shares with a par value of £1 for a consideration of £844,603.
On 17 October 2024, the company issued 304,084 shares with a par value of £1 for a consideration of £304,084.
On 21 November 2024, the directors have passed a special resolution to reduce the shares by cancelling and extinguishing 345,000 shares with a par value of £1 each, each of which is fully paid up and the amount by which the share capital is so reduced is to be credited to a distributable reserve.


9.


Related party transactions

The company has taken advantage of the exemption from disclosing related party transactions undertaken between wholly owned members of the group that have been concluded under normal market conditions.


10.


Post balance sheet events

On 21 January 2025, the company issued 422,633 shares with a par value of £1 for a consideration of £422,633.

- 10 -

 
 13195617
31 December 2024
HELIOS UK (ITALY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Controlling party

The immediate parent company is Helios UK Holdco Ltd, a company incorporated in England and Wales.
The directors do not consider there to be an ultimate controlling party.

- 11 -