Helperton Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01922362 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2020

for

HELPERTON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

F O Dawood

Mrs N Dawood

Secretary:

Mrs N Dawood

Registered office:

Unit 3

Redwing Court Business Centre

Ashton Road

Romford

Essex

RM3 8QQ

Registered number:

01922362 (England and Wales)

Accountants:

Haines Watts Essex LLP

Chartered Accountants

Coopers House

65a Wingletye Lane

Hornchurch

Essex

RM11 3AT

Fixed assets

Tangible assets

4

6,944

10,099

Investments

5

511

511

7,455

10,610

Current assets

Debtors

6

626,513

627,261

Cash at bank and in hand

713,169

665,762

1,339,682

1,293,023

Creditors

Amounts falling due within one year

7

296,443

352,866

Net current assets

1,043,239

940,157

Total assets less current liabilities

1,050,694

950,767

Creditors

Amounts falling due after more than one year

8

100,000

-

Net assets

950,694

950,767

Capital and reserves

Called up share capital

9

100

100

Capital redemption reserve

10

10

10

Retained earnings

10

950,584

950,657

Shareholders' funds

950,694

950,767

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 27 September 2021 and were signed on its behalf by:

Mrs N Dawood - Director

F O Dawood - Director

1.	Statutory information

Helperton 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

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

-

25% on cost

Motor vehicles

-

25% on cost

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation

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 5 (2019 - 5 ) .

4.	Tangible fixed assets

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

Cost

At 1 January 2020

115,724

14,000

129,724

Additions

651

-

651

At 31 December 2020

116,375

14,000

130,375

Depreciation

At 1 January 2020

105,625

14,000

119,625

Charge for year

3,806

-

3,806

At 31 December 2020

109,431

14,000

123,431

Net book value

At 31 December 2020

6,944

-

6,944

At 31 December 2019

10,099

-

10,099

5.	Fixed asset investments

Other

investments

£

Cost

At 1 January 2020

and 31 December 2020

511

Net book value

At 31 December 2020

511

At 31 December 2019

511

At 31 December 2020 investments comprise an investment in a subsidiary undertaking. The company's investment in its subsidiary company of £51 represents the cost of acquisition of 51% of the ordinary share capital of Retail Gateway Limited which provides the supply of electronic services.

At the year end the company's investment in FRII-World Limited of £460 represents the cost of acquisition of 46% of the ordinary share capital.

6.

Debtors: amounts falling due within one year

2020

2019

£

£

Trade debtors

56,351

543,276

Other debtors

570,162

83,985

626,513

627,261

7.

Creditors: amounts falling due within one year

2020

2019

£

£

Bank loans and overdrafts

107,953

61,534

Trade creditors

7,061

72,177

Taxation and social security

177

-

Other creditors

181,252

219,155

296,443

352,866

8.

Creditors: amounts falling due after more than one year

2020

2019

£

£

Bank loans

100,000

-

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100

10.

Reserves

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 January 2020

950,657

10

950,667

Deficit for the year

(73

)

(73

)

At 31 December 2020

950,584

10

950,594