Heliodore Limited
Unaudited accounts
Contents
Heliodore Limited
Statement of financial position
as at
31 May 2018
Tangible assets
2,626
1,702
Cash at bank and in hand
5,270
1,681
Creditors: amounts falling due within one year
(11,252)
(11,250)
Net current liabilities
(1,964)
(639)
Total assets less current liabilities
662
1,063
Creditors: amounts falling due after more than one year
-
(484)
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
64
156
Shareholders' funds
164
256
For the year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 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 accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 23 January 2019.
D More
Director
Company Registration No. 10194530
Heliodore Limited
Notes to the Accounts
for the year ended 31 May 2018
Heliodore Limited is a private company, limited by shares, registered in England and Wales, registration number 10194530. The registered office is 75 Cotswolds Way, Calvert, Buckingham, Buckinghamshire, MK18 2FJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
3 years - Straight Line
Computer equipment
3 years - Straight Line
Other tangible fixed assets
3 years - Straight Line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Heliodore Limited
Notes to the Accounts
for the year ended 31 May 2018
4
Tangible fixed assets
Total
Charge for the year
1,372
5
Deferred taxation
2018
2017
Accelerated capital allowances
498
323
Provision at start of year
323
-
Charged to the profit and loss account
175
323
Provision at end of year
498
323
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest bearing loan to director
1,950
509
-
2,459
7
Transactions with related parties
The director charged the company rent of £164 (2017: £984.60).
8
Average number of employees
During the year the average number of employees was 2 (2017: 2).