REGISTERED NUMBER: 02328290 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Helvellyn Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J D Aitchison

Mrs R Aitchison

H Aitchison

SECRETARY:

J D Aitchison

REGISTERED OFFICE:

The Old Rectory

Duncton

Petworth

West Sussex

GU28 0JZ

REGISTERED NUMBER:

02328290 (England and Wales)

ACCOUNTANTS:

Maximus Accountancy Services Limited

47 Kensington Road

Chichester

West Sussex

PO19 7XS

FIXED ASSETS

Tangible assets

4

23,028

5,943

Investments

5

-

211,106

Investment property

6

600,000

600,000

623,028

817,049

CURRENT ASSETS

Stocks

7

-

405,457

Debtors

8

242,014

21,801

Investments

9

1,047,497

-

Cash at bank

46,438

538,977

1,335,949

966,235

CREDITORS

Amounts falling due within one year

10

83,196

21,471

NET CURRENT ASSETS

1,252,753

944,764

TOTAL ASSETS LESS CURRENT LIABILITIES

1,875,781

1,761,813

CAPITAL AND RESERVES

Called up share capital

12

20,668

20,668

Share premium

1,028,835

1,028,835

Fair value reserve

(14,764

)

(14,764

)

Retained earnings

841,042

727,074

SHAREHOLDERS' FUNDS

1,875,781

1,761,813

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 25 September 2025 and were signed on its behalf by:

J D Aitchison - Director

1.	STATUTORY INFORMATION

Helvellyn Properties 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 as modified by the revaluation of certain assets.

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.

Fixtures and fittings

-

33% on cost, 25% on cost, 20% on cost and 10% on cost

Motor vehicles

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Development sites are valued at the lower of cost and net realisable value. Cost includes the purchase cost of the development site and the additional costs incurred in obtaining planning permission prior to selling the site on.

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.

Investment in participating interests

Investments in participating interests are shown at cost less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 January 2024

9,710

-

9,710

Additions

5,566

15,050

20,616

At 31 December 2024

15,276

15,050

30,326

DEPRECIATION

At 1 January 2024

3,767

-

3,767

Charge for year

2,832

699

3,531

At 31 December 2024

6,599

699

7,298

NET BOOK VALUE

At 31 December 2024

8,677

14,351

23,028

At 31 December 2023

5,943

-

5,943

5.	FIXED ASSET INVESTMENTS

2024

2023

£

£

Participating interests

-

50,000

Loans to undertakings in which the company has a participating interest

-

161,106

-

211,106

Additional information is as follows:

Interest

in other

participating

interests

£

COST

At 1 January 2024

50,000

Disposals

(50,000

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

50,000

Loans to

other

participating

interests

£

At 1 January 2024

161,106

Repayment in year

(161,106

)

At 31 December 2024

-

Interest in and loans to other participating interests related to the company's 25% membership of Fleet Suites LLP. During the year the property owned by the LLP was sold and the LLP ceased trading.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

600,000

NET BOOK VALUE

At 31 December 2024

600,000

At 31 December 2023

600,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

600,000

The valuation was made by J D Aitchison (director), who is a qualified member of the Royal Institute of Chartered Surveyors, on an open market value for existing use basis. The historical cost of the investment property was £614,764 (2023: £614,764). The investment property is held for letting to tenants under operating leases.

7.

STOCKS

2024

2023

£

£

Development site

-

405,457

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

19,314

-

Amounts owed by participating interests

-

12,426

Other debtors

222,700

9,375

242,014

21,801

Amounts due from participating interests in the prior year related to the company's share of the accumulated undistributed profits of Fleet Suites LLP as at the balance sheet date. The LLP ceased to trade during the year.

9.	CURRENT ASSET INVESTMENTS

2024

2023

£

£

Listed investments

1,027,830

-

Cash held by investment managers

19,667

-

1,047,497

-

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

20,151

2,226

Taxation and social security

53,478

2,709

Other creditors

9,567

16,536

83,196

21,471

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

10,703

-

Operating lease payments made during the year amounted to £2,676.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

20,668

Ordinary

£1

20,668

20,668

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

J D Aitchison

Balance outstanding at start of year

-

-

Amounts advanced

200,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

200,000

-

The above loan to the director was repaid by means of a dividend voted in September 2025. The loan was unsecured and interest free.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is Helvellyn Holdings Limited.

The ultimate controlling party is J D Aitchison.