Company Registration No. 10052343 (England and Wales)
HELIX TANKS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
PAGES FOR FILING WITH REGISTRAR
HELIX TANKS LIMITED
COMPANY INFORMATION
Director
Roger Andrews
Company number
10052343
Registered office
52 Tagwell Road
Droitwich
Worcestershire
WR9 7AD
Accountants
Neal and Co Business Services Limited
Shakespeare Buildings
26 Cradley Road
Cradley Heath
West Midlands
B64 6AG
HELIX TANKS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HELIX TANKS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2017
31 March 2017
- 1 -
2017
Notes
£
£
Fixed assets
Tangible assets
3
1,093
Current assets
Debtors
4
11,723
Cash at bank and in hand
5,485
17,208
Creditors: amounts falling due within one year
5
(12,154)
Net current assets
5,054
Total assets less current liabilities
6,147
Capital and reserves
Called up share capital
6
1
Profit and loss reserves
6,146
Total equity
6,147
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 24 July 2017
Roger Andrews
Director
Company Registration No. 10052343
HELIX TANKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
- 2 -
1
Accounting policies
Company information
Helix Tanks Limited is a private company limited by shares incorporated in England and Wales. The registered office is 52 Tagwell Road, Droitwich, Worcestershire, WR9 7AD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
These financial statements for the year ended 31 March 2017 are the first financial statements of Helix Tanks Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was . The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.
Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
HELIX TANKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2017
1
Accounting policies
(Continued)
- 3 -
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings/Profit and Loss Account.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1.
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 9 March 2016
-
Additions
1,458
At 31 March 2017
1,458
Depreciation and impairment
At 9 March 2016
-
Depreciation charged in the year
365
At 31 March 2017
365
Carrying amount
At 31 March 2017
1,093
4
Debtors
2017
Amounts falling due within one year:
£
Trade debtors
11,723
HELIX TANKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2017
- 4 -
5
Creditors: amounts falling due within one year
2017
£
Bank loans and overdrafts
1,044
Corporation tax
2,588
Other taxation and social security
3,615
Other creditors
4,907
12,154
6
Called up share capital
2017
£
Ordinary share capital
Issued and fully paid
1 Ordinary of £1 each
1
1