REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 |
FOR |
HEATHS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 |
FOR |
HEATHS LIMITED |
HEATHS LIMITED (REGISTERED NUMBER: 04577387) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Chartered Accountants' Report | 7 |
HEATHS LIMITED (REGISTERED NUMBER: 04577387) |
BALANCE SHEET |
31 JANUARY 2023 |
31/1/23 | 31/1/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
HEATHS LIMITED (REGISTERED NUMBER: 04577387) |
BALANCE SHEET - continued |
31 JANUARY 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
HEATHS LIMITED (REGISTERED NUMBER: 04577387) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2023 |
1. | STATUTORY INFORMATION |
Heaths Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
GOODWILL |
INTANGIBLE ASSETS |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
TANGIBLE FIXED ASSETS |
Fixtures and fittings | - |
STOCKS |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
HEATHS LIMITED (REGISTERED NUMBER: 04577387) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 February 2022 |
and 31 January 2023 |
AMORTISATION |
At 1 February 2022 |
Charge for year |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 February 2022 |
Additions |
At 31 January 2023 |
DEPRECIATION |
At 1 February 2022 |
Charge for year |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/1/23 | 31/1/22 |
£ | £ |
Trade debtors |
Directors' current accounts | 82,998 | 69,261 |
Prepayments and accrued income |
HEATHS LIMITED (REGISTERED NUMBER: 04577387) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/1/23 | 31/1/22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | 8,952 | 2,706 |
Credit card account | 4,697 | 5,192 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/1/23 | 31/1/22 |
£ | £ |
Bank loans - 1-2 years |
Bounceback loan 1-2 years | 10,080 | 9,832 |
Bank loans - 2-5 years |
Bounceback loan 2-5 years | 17,245 | 27,302 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/1/23 | 31/1/22 |
value: | £ | £ |
ordinary | 1 | 100 | 100 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 February 2022 | ( |
) |
Deficit for the year | ( |
) |
At 31 January 2023 | ( |
) |
11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
Included within debtors is an amount owed to the company of £82,998. (2022: £69,261). The maximum overdrawn balance in the year was £82,998. Interest was charged on the overdrawn amount during the year at a rate of 4%. |
12. | RELATED PARTY DISCLOSURES |
The company operates from premises owned personally by the director and rent of £14,400 was paid to him during the year (2022: £14,400). |
During the year Mr & Mrs P Heath jointly received a dividend of £nil (2022:- £nil). |
HEATHS LIMITED (REGISTERED NUMBER: 04577387) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2023 |
13. | ULTIMATE CONTROLLING PARTY |
The company was under the control of Mr P J Heath throughout the current and previous periods. Mr Heath is the managing director and together with members of his immediate family owns all of the company's issued share capital. |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
HEATHS LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Heaths Limited for the year ended 31 January 2023 which comprise the Income Statement, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at icaew.com/membershandbook. |
This report is made solely to the director of Heaths Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Heaths Limited and state those matters that we have agreed to state to the director of Heaths Limited in this report in accordance with icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Heaths Limited and its director for our work or for this report. |
It is your duty to ensure that Heaths Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Heaths Limited. You consider that Heaths 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 financial statements of Heaths 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 financial statements. |
Bellevue |
Princes St |
Ulverston |
Cumbria |
LA12 7NB |