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REGISTERED NUMBER: 10104483 (England and Wales)















Unaudited Financial Statements

for the Period 1 May 2021 to 31 December 2021

for

Heaven Apparel Limited

Heaven Apparel Limited (Registered number: 10104483)






Contents of the Financial Statements
for the Period 1 May 2021 to 31 December 2021




Page

Balance Sheet 1

Notes to the Financial Statements 3


Heaven Apparel Limited (Registered number: 10104483)

Balance Sheet
31 December 2021

2021 2021
Notes £    £    £    £   
Fixed assets
Tangible assets 4 5,940 4,061
Investments 5 89 89
6,029 4,150

Current assets
Stocks 23,004 33,340
Debtors 6 34,318 68,288
Cash at bank and in hand 52,864 37,328
110,186 138,956
Creditors: amounts falling due within
one year

7

72,350

141,026
Net current assets/(liabilities) 37,836 (2,070 )
Total assets less current liabilities 43,865 2,080

Creditors: amounts falling due after
more than one year

8

(35,883

)

(44,167

)

Provisions for liabilities (832 ) -
Net assets/(liabilities) 7,150 (42,087 )

Capital and reserves
Called up share capital 9 100 100
Retained earnings 7,050 (42,187 )
Shareholders' funds 7,150 (42,087 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Heaven Apparel Limited (Registered number: 10104483)

Balance Sheet - continued
31 December 2021


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 director and authorised for issue on 9 August 2022 and were signed by:





S V Lomond - Director


Heaven Apparel Limited (Registered number: 10104483)

Notes to the Financial Statements
for the Period 1 May 2021 to 31 December 2021

1. Statutory information

Heaven Apparel 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: 10104483

Registered office: 85 Church Road
Hove
East Sussex
BN3 2BB

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).
The period covered by the financial statements is 8 months from 1 May 2021 to 31 December 2021 therefore comparatives are not entirely comparable.. The reason for shortening the year end is for it to coincide with the other group company.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over 4 years
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on cost

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Government grants
Government grants are recognised in the period to which they relate.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Heaven Apparel Limited (Registered number: 10104483)

Notes to the Financial Statements - continued
for the Period 1 May 2021 to 31 December 2021

2. Accounting policies - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Taxation
Taxation for the period 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Significant events affecting the company
During the period, the UK and many other countries around the world have imposed restrictions on daily life that have impacted their economies. The company has begun to see the effect of these restrictions in these accounts but it is too early to determine the full financial impact.

Heaven Apparel Limited (Registered number: 10104483)

Notes to the Financial Statements - continued
for the Period 1 May 2021 to 31 December 2021

3. Employees and directors

The average number of employees during the period was 4 (2021 - 4 ) .

4. Tangible fixed assets
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
Cost
At 1 May 2021 25,000 - 6,609 31,609
Additions - 742 - 742
At 31 December 2021 25,000 742 6,609 32,351
Depreciation
At 1 May 2021 25,000 - 2,548 27,548
Charge for period - 19 406 425
Charge written back (1,562 ) - - (1,562 )
At 31 December 2021 23,438 19 2,954 26,411
Net book value
At 31 December 2021 1,562 723 3,655 5,940
At 30 April 2021 - - 4,061 4,061

5. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 May 2021
and 31 December 2021 89
Net book value
At 31 December 2021 89
At 30 April 2021 89

6. Debtors: amounts falling due within one year
2021 2021
£    £   
Trade debtors 20,655 43,542
Other debtors 13,663 24,746
34,318 68,288

Heaven Apparel Limited (Registered number: 10104483)

Notes to the Financial Statements - continued
for the Period 1 May 2021 to 31 December 2021

7. Creditors: amounts falling due within one year
2021 2021
£    £   
Bank loans and overdrafts 9,661 11,776
Trade creditors 114 105,863
Amounts owed to group undertakings 6,207 11,916
Taxation and social security 13,121 7,312
Other creditors 43,247 4,159
72,350 141,026

8. Creditors: amounts falling due after more than one year
2021 2021
£    £   
Bank loans 35,883 44,167

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 yrs 7,555 4,167

9. Called up share capital



Allotted, issued and fully paid:
Number: Class: Nominal 2021 2021
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

10. Other financial commitments

On 31 December 2021 the company had operating lease commitments of £6,125 (April 2021: £22,458 ).

11. Director's advances, credits and guarantees

During the year advances of £15,000 and credits of £2,072 were made for a director with repayments being received of £23,517 resulting in and amount owed to the company on 31 December 2021 of £10,527 included within debtors (April 2021: £16,972). These advances were made interest free and with no set repayment terms.