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REGISTERED NUMBER: 04577387 (England and Wales)















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 4,000 8,000
Tangible assets 5 1,069 1,121
5,069 9,121

CURRENT ASSETS
Stocks 34,000 39,750
Debtors 6 97,675 94,196
Cash at bank and in hand 1,082 5,850
132,757 139,796
CREDITORS
Amounts falling due within one year 7 103,085 96,120
NET CURRENT ASSETS 29,672 43,676
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,741

52,797

CREDITORS
Amounts falling due after more than one
year

8

40,824

55,848
NET LIABILITIES (6,083 ) (3,051 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (6,183 ) (3,151 )
SHAREHOLDERS' FUNDS (6,083 ) (3,051 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

HEATHS LIMITED (REGISTERED NUMBER: 04577387)

BALANCE SHEET - continued
31 JANUARY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2023 and were signed by:





Mr P J Heath - Director


HEATHS LIMITED (REGISTERED NUMBER: 04577387)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Heaths 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: 04577387

Registered office: 76 Dalton Road
Barrow-in-furness
Cumbria
LA14 1JE

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.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

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 7 (2022 - 7 ) .

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 80,000
AMORTISATION
At 1 February 2022 72,000
Charge for year 4,000
At 31 January 2023 76,000
NET BOOK VALUE
At 31 January 2023 4,000
At 31 January 2022 8,000

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 February 2022 23,515
Additions 241
At 31 January 2023 23,756
DEPRECIATION
At 1 February 2022 22,394
Charge for year 293
At 31 January 2023 22,687
NET BOOK VALUE
At 31 January 2023 1,069
At 31 January 2022 1,121

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/23 31/1/22
£    £   
Trade debtors 14,193 24,182
Directors' current accounts 82,998 69,261
Prepayments and accrued income 484 753
97,675 94,196

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 31,284 18,512
Trade creditors 54,551 64,849
Corporation tax 1,505 1,283
Social security and other taxes 1,405 1,164
VAT 8,952 2,706
Credit card account 4,697 5,192
Accrued expenses 691 2,414
103,085 96,120

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/1/23 31/1/22
£    £   
Bank loans - 1-2 years 5,000 5,000
Bounceback loan 1-2 years 10,080 9,832
Bank loans - 2-5 years 8,499 13,714
Bounceback loan 2-5 years 17,245 27,302
40,824 55,848

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/1/23 31/1/22
value: £    £   
100 ordinary 1 100 100

10. RESERVES
Retained
earnings
£   

At 1 February 2022 (3,151 )
Deficit for the year (3,032 )
At 31 January 2023 (6,183 )

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.






RfM Ulverston Ltd
Bellevue
Princes St
Ulverston
Cumbria
LA12 7NB


29 September 2023