Company registration number 06713503 (England and Wales)
ROBERT HEATH TECHNOLOGY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
ROBERT HEATH TECHNOLOGY LIMITED
COMPANY INFORMATION
Directors
R B Heath
M L Heath
Company number
06713503
Registered office
Heath House
264 Burlington Road
New Malden
Surrey
KT3 4NN
Auditors
Ward Williams
Belgrave House
39-43 Monument Hill
Weybridge
Surrey
KT13 8RN
Business address
Heath House
264 Burlington Road
New Malden
Surrey
KT3 4NN
ROBERT HEATH TECHNOLOGY LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
ROBERT HEATH TECHNOLOGY LIMITED
STATEMENT OF FINANCIAL POSITION
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Trade and other receivables
6
1
Current liabilities
7
(20,285)
Net current assets/(liabilities)
1
(20,285)
Equity
Called up share capital
9
1
1
Retained earnings
10
(20,286)
Total equity
1
(20,285)
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 20 October 2023 and are signed on its behalf by:
M L Heath
Director
Company Registration No. 06713503
ROBERT HEATH TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information
Robert Heath Technology Limited is a private company limited by shares incorporated in England and Wales. The registered office is Heath House, 264 Burlington Road, New Malden, Surrey, KT3 4NN.
1.1
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 on the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company is not currently trading, with the only transactions in the financial year relating to the group. On this basis, the director does not consider the company to be a going concern and the financial statements have not been prepared on the going concern basis.true
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial assets
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets are classified into specified categories. The classification depends on the nature and purpose of the financial assets and is determined at the time of recognition.
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price, less any impairment.
Loans and receivables
Loans and receivables are measured at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.
ROBERT HEATH TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Other financial liabilities
Other financial liabilities, including bank loans, are initially measured at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
ROBERT HEATH TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
3
Intangible fixed assets
£
Cost
At 1 July 2022
1,098,306
Disposals
(1,098,306)
At 30 June 2023
Amortisation and impairment
At 1 July 2022
1,098,306
Disposals
(1,098,306)
At 30 June 2023
Carrying amount
At 30 June 2023
At 30 June 2022
4
Trade and other receivables
2023
2022
£
£
Amounts due from fellow group undertakings
1
5
Current liabilities
2023
2022
£
£
Amounts owed to group undertakings
20,285
6
Called up share capital
2023
2022
£
£
Ordinary share capital
Authorised
1 Ordinary share of £1 each
1
1
Issued and fully paid
1 Ordinary share of £1 each
1
1
ROBERT HEATH TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 5 -
7
Retained earnings
2023
2022
£
£
At the beginning of the year
(20,286)
(20,286)
Profit for the year
20,286
At end of the period
(20,286)
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
In forming our opinion on the financial statements, which is not qualified, we have considered the adequacy of the disclosures made in note 1.2 to the financial statements concerning the company's ability to continue as a going concern. The company has not actively traded during the year and remains dormant at the current time.
In consequence of this, the company is not considered to be a going concern and the accounts have been prepared on this basis.
The senior statutory auditor was Frank Harling.
The auditor was Ward Williams.
9
Related party transactions
The company has taken advantage of the exemption in FRS 102 section 33 from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared by the ultimate parent company. The consolidated financial statements of Robert Heath Group Limited are available from Heath House, 264 Burlington Road, New Malden, Surrey, KT3 4NN.
10
Financial commitments, guarantees and contingent liabilities
Robert Heath Heating Limited had an invoice discounting facility in place with Shawbrook Bank Limited. It was secured by a composite guarantee and debenture being a fixed charge over the fixed and current assets of the company, its parent, Robert Heath Group Limited and its fellow subsidiaries Robert Heath Heating Limited and Robert Heath Property Services Limited. This included a security over 264 Burlington Road, New Malden, Surrey (asset of which is held in the parent company).
This facility has been ceased since the year-end on 14th July 2023, with the relevant charges now removed.
11
Parent company
The ultimate parent company is Robert Heath Group Limited, a company registered in England and Wales. The consolidated financial statements of Robert Heath Group Limited can be obtained from Heath House, 264 Burlington Road, New Malden, Surrey, KT3 4NN.
The ultimate controlling party is R B Heath, a director of the company.