Helenslea Limited - Period Ending 2019-12-31

Registration number: 06186610

Helenslea Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2019

Ripe LLP
Chartered accountants
9A Burroughs Gardens
London
NW4 4AU

Helenslea Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 5

Helenslea Limited

Company Information

Director

Mr M C Aljoe

Company secretary

Mr M C Aljoe

Registered office

9A Burroughs Gardens London NW4 4AU

Accountants

Ripe LLP Chartered accountants 9A Burroughs Gardens London NW4 4AU

Page 1

Helenslea Limited

(Registration number: 06186610)
Balance Sheet as at 31 December 2019

	Note	2019 £	2018 £
Fixed assets
Investment property	4	475,000	475,000
Current assets
Debtors	5	64,813	64,309
Cash at bank and in hand		58,159	52,220
		122,972	116,529
Creditors: Amounts falling due within one year	6	(578,593)	(571,276)
Net current liabilities		(455,621)	(454,747)
Total assets less current liabilities		19,379	20,253
Provisions for liabilities		(3,064)	(3,064)
Net assets		16,315	17,189
Capital and reserves
Called up share capital	7	100	100
Profit and loss account		16,215	17,089
Total equity		16,315	17,189

For the financial year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 8 April 2020
 

.........................................

Mr M C Aljoe
Company secretary and director

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 2

Helenslea Limited

Notes to the Financial Statements for the Year Ended 31 December 2019

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9A Burroughs Gardens
London
NW4 4AU
United Kingdom

The principal place of business is:
23/24 Greek Street
London
W1D 4DZ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Page 3

Helenslea Limited

Notes to the Financial Statements for the Year Ended 31 December 2019

Investment property

Investment property is carried at fair value,derivded from the current market prices for comparable real estate determined annually by the director. The directors use observale market prices, adjusted if necessary for the specific asset. Changes in fair value are recognised in profit or loss.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2018 - 1).

4	Investment properties

	2019 £
At 1 January	475,000
At 31 December	475,000

The investment property was subject to valuation by director, Mr M C Aljoe, who deemed £475,000 to be an accurate fair value of the property at the year end based on the market value of the surrounding properties.

There has been no valuation of investment property by an independent valuer.

5

Debtors

	Note	2019 £	2018 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	8	64,470	64,110
Other debtors		343	199
		64,813	64,309

Page 4

Helenslea Limited

Notes to the Financial Statements for the Year Ended 31 December 2019

6

Creditors

Creditors: amounts falling due within one year

	Note	2019  £	2018  £
Due within one year
Amounts due to related parties	8	567,671	560,215
Accrued expenses		9,250	9,250
Corporation tax liability		1,672	1,811
		578,593	571,276

7	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

8	Related party transactions

At the balance sheet date:

a) the company was owed £40,440 (2017: £30,440) by Abbey Leisure Events Limited, in which M Aljoe is a director and shareholder;

b) the company was owed £- (2017: £-) by Abbey Executive Services Limited, a company in which Mr M Aljoe is a director and shareholder;

c) the company was owed £24,030 (2017: £9,755) by Abbey Leisure Group Limited, a company in which Mr M Aljoe is a director and shareholder;

d) the company owed £236,458 (2017: £256,845), to DAM Management Limited, a company in which Mr M Aljoe is a director and shareholder;

e) the company owed £303,370 (2017: £303,370) to Abbey International Events Limited, a company in which Mr M Aljoe is a director and shareholder.

Page 5