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Company Registration No. 09996937 (England and Wales)
Helegan Close Properties Limited Unaudited accounts for the year ended 31 December 2024
Helegan Close Properties Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Helegan Close Properties Limited Company Information for the year ended 31 December 2024
Directors
M C Elster J O'Shea
Secretary
R Cox
Company Number
09996937 (England and Wales)
Registered Office
3rd Floor, Waverley House 7-12 Noel Street London W1F 8GQ England
Accountants
Clearview Accounting Solutions Limited 1 Fir Tree Close Hildenborough Kent TN11 9EQ
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Helegan Close Properties Limited Statement of financial position as at 31 December 2024
2024
2023
Notes
£
£
Current assets
Inventories
-
430,000
Debtors
4
1,661
444
Cash at bank and in hand
2,608,709
4,962,969
2,610,370
5,393,413
Creditors: amounts falling due within one year
5
(118,702)
(3,023,559)
Net current assets
2,491,668
2,369,854
Net assets
2,491,668
2,369,854
Capital and reserves
Called up share capital
6
1,000
1,000
Share premium
924,100
924,100
Profit and loss account
1,566,568
1,444,754
Shareholders' funds
2,491,668
2,369,854
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2025 and were signed on its behalf by
M C Elster Director Company Registration No. 09996937
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Helegan Close Properties Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Helegan Close Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 09996937. The registered office is 3rd Floor, Waverley House, 7-12 Noel Street, London, W1F 8GQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
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 financial statements have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for the sale of properties 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.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the profit or loss. Reversals of impairment losses are also recognised in the profit or loss.
Cash and cash equivalents
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.
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Helegan Close Properties Limited Notes to the Accounts for the year ended 31 December 2024
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Finanical Instruments Issues' of FRS 102 to all of its financial instruments. Financial Instruments are recognised in the company's balance sheet when the company becomes party to contractual provisions in 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, 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. Financial liabiities 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 deducting all of its liabilities. Basic financial liabilities, including creditors, 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 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 effetive interest method.
Equity Instruments
Equity Instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
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Helegan Close Properties Limited Notes to the Accounts for the year ended 31 December 2024
Taxation
The tax expense represents the sum of the tax currently payable and deferred 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 and expenses that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. 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 when the company has 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.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
4
Debtors
2024
2023
£
£
Amounts falling due within one year
Amounts due from group undertakings etc.
344
344
Other debtors
1,317
100
1,661
444
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxes and social security
40,604
446,146
Other creditors
66,021
2,575,413
Accruals
12,077
2,000
118,702
3,023,559
6
Share capital
2024
2023
£
£
Allotted, called up and fully paid:
100,000 Ordinary shares of £0.01 each
1,000
1,000
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Helegan Close Properties Limited Notes to the Accounts for the year ended 31 December 2024
7
Transactions with related parties
As at 31 December 2024 the company was owed £344 (2023: £344) by Cray Avenue Properties Limited, a company under common control.
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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