Headaway (Europe) Limited 03914107 true 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is Dormant Digita Accounts Production Advanced 6.30.9574.0 true Mr David Thursfield Mr M E R Llewellyn Mrs S C Llewellyn false 03914107 2022-03-01 2023-02-28 03914107 2023-02-28 03914107 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-02-28 03914107 core:RetainedEarningsAccumulatedLosses 2023-02-28 03914107 core:ShareCapital 2023-02-28 03914107 core:CurrentFinancialInstruments 2023-02-28 03914107 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 03914107 bus:FRS102 2022-03-01 2023-02-28 03914107 bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 03914107 bus:FullAccounts 2022-03-01 2023-02-28 03914107 bus:RegisteredOffice 2022-03-01 2023-02-28 03914107 bus:CompanySecretary1 2022-03-01 2023-02-28 03914107 bus:Director1 2022-03-01 2023-02-28 03914107 bus:Director3 2022-03-01 2023-02-28 03914107 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-03-01 2023-02-28 03914107 bus:EntityNoLongerTradingButTradedInPast 2022-03-01 2023-02-28 03914107 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 03914107 core:ParentEntities 2022-03-01 2023-02-28 03914107 1 2022-03-01 2023-02-28 03914107 countries:EnglandWales 2022-03-01 2023-02-28 03914107 2021-03-01 2022-02-28 03914107 2022-02-28 03914107 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-02-28 03914107 core:RetainedEarningsAccumulatedLosses 2022-02-28 03914107 core:ShareCapital 2022-02-28 03914107 core:CurrentFinancialInstruments 2022-02-28 03914107 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03914107

Headaway (Europe) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Headaway (Europe) Limited

Contents

Income Statement

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Headaway (Europe) Limited

Income Statement for the Year Ended 28 February 2023

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

Headaway (Europe) Limited

(Registration number: 03914107)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

249,835

249,835

Creditors: Amounts falling due within one year

5

(380)

(380)

Net assets

 

249,455

249,455

Capital and reserves

 

Called up share capital

6

790

790

Retained earnings

248,665

248,665

Shareholders' funds

 

249,455

249,455

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 1 September 2023 and signed on its behalf by:
 

.........................................
Mr M E R Llewellyn
Director

 

Headaway (Europe) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hirwaun House
Hirwaun Industrial Estate
Hirwaun
Aberdare
Rhondda Cynon Taf
CF44 9UL
Wales

These financial statements were authorised for issue by the Board on 1 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Summary of disclosure exemptions

As a dormant company, Headaway (Europe) Limited has adopted the transitional exemption: Section 35.10 (m) Dormant Companies. This exemption allows the company, which is within the Companies Act definition of a dormant company, to retain its accounting policies for reported assets, liabilities and equity at the date of transition until there is any change to those balances or the company undertakes any new transactions.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Headaway (Europe) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

8

235,656

235,656

Other debtors

 

494

494

Accrued income

 

13,685

13,685

 

249,835

249,835

5

Creditors

2023
£

2022
£

Due within one year

Accruals

380

380

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

790

790

790

790

         

7

Financial guarantee contracts

The company has a joint and several cross guarantee indemnity facility in respect of contract bonds. This indemnity is in relation to Headaway (Europe) Limited, the parent company G Walters (Holdings) Limited and fellow subsidiaries G Walters (Leasing) Limited, Walters Resources Limited, Walters Plant Hire Limited, Walters Environmental Limited, Walters UK Limited and Walters Land Limited. The indemnity facility is also in relation to three companies outside the group: G Walters (Consultancy) Limited, Ffos Las Limited and Walters Land (Rogerstone) Limited. The total of active contract bonds at 28 February 2023 was £1,891,201 (2022 - £1,168,291).

8

Related party transactions

Summary of transactions with parent

The company loaned its parent company G Walters (Holdings) Limited £235,656 in an earlier year. This remains outstanding at the balance sheet date (2022: £235,656). The loan bears no interest and is repayable on demand.
 

 

Headaway (Europe) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

9

Parent and ultimate parent undertaking

The company's immediate parent is G Walters (Holdings) Limited, incorporated in the United Kingdom.

 The most senior parent entity producing publicly available financial statements is G Walters (Holdings) Limited. These financial statements are available upon request from the registered office of Headaway (Europe) Limited: Hirwaun House, Hirwaun Industrial Estate, Hirwaun, Aberdare. CF44 9UL.

 The ultimate controlling party is the G Walters (Discretionary) Trust, the major shareholder of G Walters (Holdings) Limited, whose trustees are Mr G Walters, Mrs S C Llewellyn, Mr R Walters and Mr P Hurn.