Company registration number 14328321 (England and Wales)
Heffernan Enterprise Limited
Unaudited
financial statements
for the period ended 30 April 2023
PAGES FOR FILING WITH REGISTRAR
Heffernan Enterprise Limited
Contents
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 6
Heffernan Enterprise Limited
Statement of financial position
as at 30 April 2023
- 1 -
2023
Notes
£
£
Fixed assets
Tangible assets
4
457,330
Investments
5
1
457,331
Current assets
Debtors
88,185
Cash at bank and in hand
18,761
106,946
Creditors: amounts falling due within one year
6
(19,100)
Net current assets
87,846
Total assets less current liabilities
545,177
Creditors: amounts falling due after more than one year
7
(246,400)
Net assets
298,777
Capital and reserves
Called up share capital
2
Profit and loss reserves
298,775
Total equity
298,777
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial period ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Heffernan Enterprise Limited
Statement of financial position (continued)
as at 30 April 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 21 August 2023
L Heffernan
Director
Company Registration No. 14328321
Heffernan Enterprise Limited
Statement of changes in equity
for the period ended 30 April 2023
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 31 August 2022
-
Period ended 30 April 2023:
Profit and total comprehensive income for the period
-
360,469
360,469
Issue of share capital
2
-
2
Dividends
-
(61,694)
(61,694)
Balance at 30 April 2023
2
298,775
298,777
Heffernan Enterprise Limited
Notes to the financial statements
for the period ended 30 April 2023
- 4 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No depreciation
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Heffernan Enterprise Limited
Notes to the financial statements (continued)
for the period ended 30 April 2023
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
Total
4
Tangible fixed assets
Total
£
Cost
At 31 August 2022
Additions
457,330
At 30 April 2023
457,330
Depreciation and impairment
At 31 August 2022 and 30 April 2023
Carrying amount
At 30 April 2023
457,330
5
Fixed asset investments
2023
£
Shares in group undertakings and participating interests
1
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 31 August 2022
-
Additions
1
At 30 April 2023
1
Carrying amount
At 30 April 2023
1
Heffernan Enterprise Limited
Notes to the financial statements (continued)
for the period ended 30 April 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
£
Bank loans
17,600
Accruals and deferred income
1,500
19,100
7
Creditors: amounts falling due after more than one year
2023
Notes
£
Bank loans and overdrafts
246,400
Amounts included above which fall due after five years are as follows:
Payable by instalments
176,000
8
Company information
Heffernan Enterprise Limited is a private company limited by shares incorporated in England and Wales. The registered office is Third Floor Suite, Brian Royd Business Centre, Saddleworth Road, Greetland, Halifax, West Yorkshire, HX4 8NF.