Helmsdale Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00824622 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2020

for

Helmsdale Investments Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Tangible assets

4

-

-

Investment property

5

2,100,000

2,100,000

2,100,000

2,100,000

Current assets

Debtors

6

75,000

75,000

Prepayments and accrued income

7,731

6,393

Cash at bank

9,570

949

92,301

82,342

Creditors

Amounts falling due within one year

7

391,495

443,683

Net current liabilities

(299,194

)

(361,341

)

Total assets less current liabilities

1,800,806

1,738,659

Provisions for liabilities

273,749

273,749

Net assets

1,527,057

1,464,910

Capital and reserves

Called up share capital

8

8

Revaluation reserve

8

1,252,213

1,252,213

Retained earnings

274,836

212,689

Shareholders' funds

1,527,057

1,464,910

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2021 and were signed on its behalf by:

R J Grievson - Director

1.	Statutory information

Helmsdale Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

00824622

Registered office:

Totterdown House Totterdown

Inkpen

Hungerford

Berkshire

RG17 9EA

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 represents rents receivable in respect of the accounting period.

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

-

20% on cost

Investment property

Investment properties are valued by the directors on an open market value basis. Depreciation is not provided on these investment properties.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	Employees and directors

The average number of employees during the year was 2 (2019 - 2 ) .

4.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 1 October 2019

and 30 September 2020

2,845

Depreciation

At 1 October 2019

and 30 September 2020

2,845

Net book value

At 30 September 2020

-

At 30 September 2019

-

5.	Investment property

Total

£

Fair value

At 1 October 2019

and 30 September 2020

2,100,000

Net book value

At 30 September 2020

2,100,000

At 30 September 2019

2,100,000

Fair value at 30 September 2020 is represented by:

£

Valuation in 2018

(100,000

)

Valuation in 2014

365,000

Valuation in 2013

1,260,962

Cost

574,038

2,100,000

6.

Debtors: amounts falling due within one year

2020

2019

£

£

Amounts owed by group undertakings

75,000

75,000

7.

Creditors: amounts falling due within one year

2020

2019

£

£

Corporation tax

14,648

14,715

Directors' loan accounts

366,294

420,294

Accrued expenses

10,553

8,674

391,495

443,683

8.

Reserves

Revaluation

reserve

£

At 1 October 2019

and 30 September 2020

1,252,213

9.	Ultimate controlling party

RJ Grievson and RJ Nevill by way of their joint control of the parent company.