Helenslea Limited - Period Ending 2020-12-31

Helenslea Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited 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

Registered number

06186610

Accountants

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

Helenslea Limited

(Registration number: 06186610)
Balance Sheet as at 31 December 2020

	Note	2020 £	2019 £
Fixed assets
Investment property	4	460,000	475,000
Current assets
Debtors	5	64,668	64,813
Cash at bank and in hand		62,649	58,159
		127,317	122,972
Creditors: Amounts falling due within one year	6	(555,176)	(578,593)
Net current liabilities		(427,859)	(455,621)
Total assets less current liabilities		32,141	19,379
Provisions for liabilities		(214)	(3,064)
Net assets		31,927	16,315
Capital and reserves
Called up share capital	7	100	100
Profit and loss account		31,827	16,215
Shareholders' funds		31,927	16,315

For the financial year ending 31 December 2020 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 2021
 

Mr M C Aljoe
Company secretary and director

Helenslea Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020

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
England

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.

Helenslea Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020

Investment property

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

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2019 - 1).

4	Investment properties

	2020 £
At 1 January	475,000
Fair value adjustments	(15,000)
At 31 December	460,000

The investment property was subject to valuation by director, Mr M C Aljoe, who deemed £460,000 to be an accurate fair value of the property at the year end based on the market value of the surrounding properties.

5

Debtors

	Note	2020 £	2019 £
Amounts owed by related parties	8	64,470	64,470
Other debtors		198	343
		64,668	64,813

Helenslea Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020

6

Creditors

Creditors: amounts falling due within one year

	Note	2020  £	2019  £
Due within one year
Amounts due to related parties	8	542,795	567,671
Accrued expenses		9,950	9,250
Corporation tax liability		2,431	1,672
		555,176	578,593

7	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

8	Related party transactions

M Aljoe is a director and shareholder of related companies. At the balance sheet date,

a) Abbey Leisure Events Limited owed £40,440 (2019: £40,440) to the company.

b) Abbey Leisure Group Limited owed £24,030 (2019: £24,030) to the company.

c) the company owed £236,458 (2019: £236,458), to DAM Management Limited.

d) the company owed £303,370 (2019: £303,370) to Abbey International Events Limited.

e) the company owed £- (2019: £25,395) to Abbey Executive Services Limited.

f) the company owed £2,549 (2019: £2,448) to Abbey Box Office Limited.

g) the company owed £418 to the director Mr M C Aljoe.