Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
Heelix Limited
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The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5 ) have been prepared.
Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Heelix Limited
for the Year Ended 30 November 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Heelix Limited for the year ended 30 November 2016 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/gb/en/member/professional-standards/rules-standards/acca-rulebook.html .
This report is made solely to the Board of Directors of Heelix Limited, as a body, in accordance with the terms of our engagement letter dated 17 November 2009 . Our work has been undertaken solely to prepare for your approval the accounts of Heelix Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Heelix Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Heelix Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Heelix Limited. You consider that Heelix Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Heelix Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Oxlade & Bond Limited
Chartered Certified Accountants
The Blue Farmhouse
86-90 Cumberland Street
Woodbridge
Suffolk
IP12 4AE
29 August 2017
Heelix Limited
(Registration number: 07068673)
Abbreviated Balance Sheet at 30 November 2016
Note |
2016
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2015
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Fixed assets |
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Intangible fixed assets |
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Tangible fixed assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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2
Heelix Limited
(Registration number: 07068673)
Abbreviated Balance Sheet at 30 November 2016
......... continued
Approved by the director on
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Dr L Renwick
Director
3
Heelix Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued
Accounting policies |
Basis of preparation
Turnover
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
The cost of the goodwill in the accounts relates to the acquisition of goodwill from a business previously carried on by the director as a sole trader.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
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Amortisation of intangible fixed assets over a period of 20 years represents a departure from the requirements of the FRSSE (effective January 2015) whose requirements are as follows "if any entity is unable to make a reliable estimate of the useful life of goodwill or intangible assets, the life shall be presumed not to exceed 5 years". This departure from the requirements of the FRSSE (effective January 2015) is necessary for the financial statements to show a true and fair view as the director is of the opinion that the intangible fixed assets have lives which are in accordance with the amortisation policy.
If this departure had not been made the amortisation charge to the profit and loss account would be higher and the value of intangible fixed assets held at the balance sheet date would be lower.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Computer and office equipment |
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Deferred tax
Heelix Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued
Pensions
Fixed assets |
Intangible assets
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Tangible assets
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Total
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Cost |
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At 1 December 2015 |
30,000 |
10,071 |
40,071 |
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Additions |
- |
3,750 |
3,750 |
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Disposals |
- |
(1,957) |
(1,957) |
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At 30 November 2016 |
30,000 |
11,864 |
41,864 |
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Depreciation |
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At 1 December 2015 |
9,000 |
2,814 |
11,814 |
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Charge for the year |
1,500 |
1,803 |
3,303 |
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Eliminated on disposals |
- |
(599) |
(599) |
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At 30 November 2016 |
10,500 |
4,018 |
14,518 |
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Net book value |
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At 30 November 2016 |
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At 30 November 2015 |
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Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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