Company registration number 06713680 (England and Wales)
ROBERT HEATH GROUP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
ROBERT HEATH GROUP LIMITED
COMPANY INFORMATION
Directors
R B Heath
M L Heath
Company number
06713680
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
Bankers
Barclays Bank
1 Churchill Place
London
E14 5HP
ROBERT HEATH GROUP LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Income statement
7
Consolidated statement of comprehensive income
8
Group statement of financial position
9
Company statement of financial position
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Consolidated statement of cash flows
13
Notes to the financial statements
14 - 33
ROBERT HEATH GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2023
- 1 -

The directors present the strategic report and financial statements for the year ended 30 June 2023.

 

Principal Activity

The principal activity of the group is the service, maintenance and installation of domestic and commercial heating and hot water systems within the affordable housing sector. In addition the group undertakes activities regarding electrical and fire security installation and repair works.

Fair Review of the Business

Group revenue for the financial year to 30th June 2023 was £43.4 million (2022: £34.7million).

The group generated profit before tax of £7.0 million (2022: £4.7 million)

Some highlights for its principal trading business Robert Heath Heating Limited from the year include;

The number of employees remained stable during the year with an average of 255. The health, safety and wellbeing of our staff and end customers remained a priority for the year and we worked to ensure all those engaged and affected by our services did so in a safe working environment.

The principal risks to the business include the competitive marketplace in which it operates, and the general uncertainty within the UK economy. Growing levels of inflation and a threat of recession create challenges for our supply chain and workforce.

In consideration of all the events in the year, the Directors were pleased with the year’s performance and remain positive with the outlook of the business.

Key Performance Indicators

                          2023          2022

 

Sales                         £43,404,550     £34,698,559

 

Gross Profit                     £14,137,854     £11,074,092

 

Gross Profit margin 32.6% 31.9%

On behalf of the board

M L Heath
Director
20 October 2023
ROBERT HEATH GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
The directors present their report and financial statements for the year ended 30 June 2023.
Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

R B Heath
M L Heath
Results and dividends

The results for the year are set out on page 7.

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

Disabled persons

The group's policy is to recruit disabled workers for those vacancies that they are able to fill. All necessary assistance with initial training courses is given. Once employed, a career plan is developed so as to ensure suitable opportunities for each disabled person. Arrangements are made, wherever possible, for retraining employees who become disabled, to enable them to perform work identified as appropriate to their aptitudes and abilities.

Employee involvement

The group's policy is to consult and discuss with employees matters likely to affect employees' interests. Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

Auditor

The auditor, Ward Williams, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ROBERT HEATH GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

On behalf of the board
M L Heath
Director
20 October 2023
ROBERT HEATH GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ROBERT HEATH GROUP LIMITED
- 4 -
Opinion

We have audited the financial statements of Robert Heath Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2023 which comprise the group income statement, the group statement of comprehensive income, the group statement of financial position, the company statement of financial position, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

ROBERT HEATH GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ROBERT HEATH GROUP LIMITED
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

 

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

 

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

ROBERT HEATH GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ROBERT HEATH GROUP LIMITED
- 6 -

 

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Frank Harling (Senior Statutory Auditor)
For and on behalf of Ward Williams
20 October 2023
Chartered Accountants
Statutory Auditor
Belgrave House
39-43 Monument Hill
Weybridge
Surrey
KT13 8RN
ROBERT HEATH GROUP LIMITED
GROUP INCOME STATEMENT
FOR THE YEAR ENDED
30 JUNE 2023
30 June 2023
- 7 -
2023
2022
Notes
£
£
Revenue
3
43,404,550
34,698,559
Cost of sales
(29,266,696)
(23,624,467)
Gross profit
14,137,854
11,074,092
Administrative expenses
(7,292,942)
(6,359,554)
Other operating income
3,000
41,276
Operating profit
4
6,847,912
4,755,814
Investment income
8
167,998
4,207
Finance costs
9
(21,269)
(15,546)
Profit before taxation
6,994,641
4,744,475
Tax on profit
10
(1,452,170)
(932,152)
Profit for the financial year
24
5,542,471
3,812,323
Profit for the financial year is all attributable to the owners of the parent company.

The income statement has been prepared on the basis that all operations are continuing operations.

ROBERT HEATH GROUP LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED
30 JUNE 2023
30 June 2023
- 8 -
2023
2022
£
£
Profit for the year
5,542,471
3,812,323
Other comprehensive income
Revaluation of property, plant and equipment
37,926
(689,080)
Tax relating to other comprehensive income
-
0
125,965
Other comprehensive income for the year
37,926
(563,115)
Total comprehensive income for the year
5,580,397
3,249,208
Total comprehensive income for the year is all attributable to the owners of the parent company.
ROBERT HEATH GROUP LIMITED
GROUP STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023
30 June 2023
- 9 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
11
1
-
0
Property, plant and equipment
12
2,677,869
2,735,629
Investments
14
80,000
80,000
2,757,870
2,815,629
Current assets
Inventories
16
863,679
369,256
Trade and other receivables
17
10,410,142
11,959,422
Cash at bank and in hand
11,261,552
4,166,800
22,535,373
16,495,478
Current liabilities
18
(6,980,639)
(6,567,900)
Net current assets
15,554,734
9,927,578
Total assets less current liabilities
18,312,604
12,743,207
Provisions for liabilities
20
(190,035)
(201,035)
Net assets
18,122,569
12,542,172
Equity
Called up share capital
22
1,000
1,000
Revaluation reserve
23
1,329,539
1,307,964
Retained earnings
24
16,792,030
11,233,208
Equity attributable to owners of the parent company
18,122,569
12,542,172
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:
20 October 2023
M L Heath
Director
ROBERT HEATH GROUP LIMITED
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023
30 June 2023
- 10 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
13
2,160,000
2,160,000
Investments
14
1,101
1,101
2,161,101
2,161,101
Current assets
Trade and other receivables
17
1,243,676
858,298
Cash at bank and in hand
559
388
1,244,235
858,686
Current liabilities
18
(2,216,858)
(2,453,694)
Net current liabilities
(972,623)
(1,595,008)
Total assets less current liabilities
1,188,478
566,093
Provisions for liabilities
20
(62,035)
(62,035)
Net assets
1,126,443
504,058
Equity
Called up share capital
22
1,000
1,000
Retained earnings
24
1,125,443
503,058
Total equity
1,126,443
504,058
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:
20 October 2023
M L Heath
Director
Company Registration No. 06713680
ROBERT HEATH GROUP LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023
- 11 -
Share capital
Revaluation reserve
Retained earnings
Total
£
£
£
£
Balance at 1 July 2021
1,000
1,900,424
7,391,540
9,292,964
Year ended 30 June 2022:
Profit for the year
-
-
3,812,323
3,812,323
Other comprehensive income:
Revaluation of property, plant and equipment
-
(689,080)
-
(689,080)
Tax relating to other comprehensive income
-
125,965
-
0
125,965
Total comprehensive income
-
(563,115)
3,812,323
3,249,208
Transfers
-
(29,345)
29,345
-
Balance at 30 June 2022
1,000
1,307,964
11,233,208
12,542,172
Year ended 30 June 2023:
Profit for the year
-
-
5,542,471
5,542,471
Other comprehensive income:
Revaluation of property, plant and equipment
-
37,926
-
37,926
Total comprehensive income
-
37,926
5,542,471
5,580,397
Transfers
-
(16,351)
16,351
-
Balance at 30 June 2023
1,000
1,329,539
16,792,030
18,122,569
ROBERT HEATH GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023
- 12 -
Share capital
Retained earnings
Total
£
£
£
Balance at 1 July 2021
1,000
923,628
924,628
Year ended 30 June 2022:
Loss and total comprehensive income for the year
-
(420,570)
(420,570)
Balance at 30 June 2022
1,000
503,058
504,058
Year ended 30 June 2023:
Profit and total comprehensive income
-
622,385
622,385
Balance at 30 June 2023
1,000
1,125,443
1,126,443
ROBERT HEATH GROUP LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2023
- 13 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
30
8,857,636
431,055
Interest paid
(21,269)
(15,546)
Income taxes paid
(1,360,596)
(607,957)
Net cash inflow/(outflow) from operating activities
7,475,771
(192,448)
Investing activities
Purchase of property, plant and equipment
(181,267)
(277,603)
Proceeds on disposal of property, plant and equipment
13,855
-
Other investments and loans repaid/(made)
(381,605)
(626,552)
Interest received
167,998
4,207
Net cash used in investing activities
(381,019)
(899,948)
Net cash used in financing activities
-
-
Net increase/(decrease) in cash and cash equivalents
7,094,752
(1,092,396)
Cash and cash equivalents at beginning of year
4,166,800
5,259,196
Cash and cash equivalents at end of year
11,261,552
4,166,800
ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 14 -
1
Accounting policies
Company information

Robert Heath Group Limited (“the company”) 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.

 

The group consists of Robert Heath Group Limited and all of its subsidiaries.

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.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

As permitted by s408 Companies Act 2006, the company has not presented its own income statement and related notes. The company’s profit for the period was £622,385 (2022 - £420,570 loss).

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

 

1.2
Basis of consolidation

The consolidated financial statements incorporate those of Robert Heath Group Limited and all of its subsidiaries (i.e. entities that the Group controls through its power to govern the financial and operating policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes. All financial statements are made up to 30 June 2023.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

 

Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the Group.

1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 15 -
1.4
Revenue

Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

 

The total turnover for the group for the year has been derived from its principal activities wholly undertaken in the United Kingdom.

Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods and services have passed to the buyer (usually on dispatch of the goods or completion of service), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Amortisation 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:

Development Costs
Over 5 years
1.6
Property, plant and equipment

Property, plant and equipment 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:

Buildings Freehold
Fifty years straight line
Land and buildings Leasehold
in line with the lease period
Plant and machinery
10 years straight line
Fixtures, fittings & equipment
5 - 10 years straight line
Computer equipment
3 - 5 years straight line
ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 16 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

 

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

 

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

No depreciation is provided in respect of freehold land.

1.7
Non-current investments

In the parent company financial statements, investments 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 group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Fixed Asset Investments 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 are recognised immediately in profit and loss.

1.8
Impairment of non-current assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit and loss.

1.9
Inventories

Inventories are stated at the lower of cost and net realisable value.

 

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 17 -
1.10
Construction contracts

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded for contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

1.11
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.

1.12
Financial instruments

The Group 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 group's statement of financial position when the group 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 measured at transaction price, less any impairment.

Loans and receivables

Loans and receivables are measured initially 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.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 18 -

Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies, are measured at the transaction price.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Other financial liabilities, including bank loans, are measured initially 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 group's contractual obligations expire or are discharged or cancelled.

1.13
Equity instruments

Equity instruments issued by the group 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 group.

1.14
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 19 -
1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.17
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

1.18
Grants

Grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are 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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Useful lives of property, plant and equipment

In determining appropriate depreciation rates to apply against the property, plant and equipment, the directors have used their knowledge and experience of both the group and the industry to assess the useful lives of each individual asset.

Income recognition on long term contracts

In accordance with its policy set out in note 1, the directors have used their knowledge and experience of the work being undertaken by the group around the year-end to determine the appropriate amount of revenue to recognise in a given period, based on the % completion of the job and costs incurred at that point. Revenue has then been either accrued or deferred accordingly.

ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
2
Judgements and key sources of estimation uncertainty
(Continued)
- 20 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Valuation of Freehold property

In determining an appropriate valuation for freehold land and buildings (included within Investment properties for the company purposes, but Property, Plant and Equipment for group purposes), the directors have used valuations obtained from market experts, along with their knowledge and experience of the local property market, to revalue the assets held at an appropriate value.

Provision of the impairment of trade receivables

The group establishes a provision for the impairment of trade receivables in accordance with its policy in note 1. The recoverable amount of the receivables is compared to the carrying amount to determine the amount of impairment. These calculations require the use of estimates.

ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 21 -
3
Revenue

An analysis of the group's revenue is as follows:

2023
2022
£
£
Revenue analysed by class of business
Service, maintenance and installation of domestic and commercial heating and hot water systems
37,789,490
31,250,624
Electrical and fire security installation and repair works
5,635,060
3,447,935
43,424,550
34,698,559

The total turnover for the group for the period has been derived from its principal activities wholly undertaken in the United Kingdom.

2023
2022
£
£
Other operating income
Grants received
-
36,946
Sundry income
3,000
4,330

Grants received in the prior year were relating to support obtained regarding the Jobs Retention Scheme which was announced in response to the Covid-19 global pandemic and restrictions that were placed on businesses as a consequence, including the Group.

4
Operating profit
2023
2022
£
£
Operating profit for the year is stated after charging/(crediting):
Grants
-
(36,946)
Depreciation of owned property, plant and equipment
258,199
249,956
Loss on disposal of property, plant and equipment
4,899
10,543
Reversal of past impairment of intangible assets
(1)
-
0
Operating lease charges
779,940
710,448
ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 22 -
5
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
4,000
7,250
Audit of the financial statements of the company's subsidiaries
20,000
17,500
24,000
24,750
For other services
All other non-audit services
16,520
10,750
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2023
2022
2023
2022
Number
Number
Number
Number
Management and administration
115
105
-
-
Service and installation
140
132
-
-
Total
255
237
-
0
-
0

Their aggregate remuneration comprised:

Group
Company
2023
2022
2023
2022
£
£
£
£
Wages and salaries
8,919,547
7,920,513
-
0
-
0
Social security costs
962,055
862,079
-
-
Pension costs
201,370
193,410
-
0
-
0
10,082,972
8,976,002
-
0
-
0
7
Directors' remuneration
2023
2022
£
£
Remuneration for qualifying services
36,460
46,286
Company pension contributions to defined contribution schemes
285
285
36,745
46,571
ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 23 -
8
Investment income
2023
2022
£
£
Interest income
Interest on bank deposits
143,940
4,207
Other interest income
24,058
-
Total income
167,998
4,207

Investment income includes the following:

Interest on financial assets not measured at fair value through profit or loss
143,940
4,207
9
Finance costs
2023
2022
£
£
Interest on financial liabilities measured at amortised cost:
Interest on invoice finance arrangements
17,762
15,546
Other finance costs:
Bank loan interest
3,507
-
Total finance costs
21,269
15,546
10
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
1,463,170
885,152
Deferred tax
Origination and reversal of timing differences
(11,000)
47,000
Total tax charge
1,452,170
932,152
ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
10
Taxation
(Continued)
- 24 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2023
2022
£
£
Profit before taxation on continued operations
6,994,641
4,744,475
Expected tax charge based on the standard rate of corporation tax in the UK of 20.50% (2022: 19.00%)
1,433,613
901,450
Tax effect of expenses that are not deductible in determining taxable profit
19,926
4,666
Deferred tax movements
(11,000)
47,000
Permanent capital allowances in excess of depreciation
9,631
(20,964)
Tax expense for the year
1,452,170
932,152

In addition to the amount charged to the income statement, the following amounts relating to tax have been recognised directly in other comprehensive income:

2023
2022
£
£
Deferred tax arising on:
Revaluation of property
-
(125,965)
ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 25 -
11
Intangible fixed assets
Group
Development Costs
£
Cost
At 1 July 2022 and 30 June 2023
1,098,306
Amortisation and impairment
At 1 July 2022
1,098,306
Reversal of past impairment loss
(1)
At 30 June 2023
1,098,305
Carrying amount
At 30 June 2023
1
At 30 June 2022
-
0
The company had no intangible fixed assets at 30 June 2023 or 30 June 2022.

Development costs have been capitalised on the grounds that they will provide future benefits to the group. The capitalised expenditure is carried forward when its future recoverability can be seen with reasonable assurance and is amortised over a period of 5 years, during which the company is expected to benefit, commencing from the date the project is completed and product ready for market. The development costs have been fully impaired, with a nominal £1 value put on the product that has been developed by the group.

ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 26 -
12
Property, plant and equipment
Group
Buildings Freehold
Land and buildings Leasehold
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
£
£
Cost or valuation
At 1 July 2022
2,160,000
60,357
88,022
170,223
975,905
3,454,507
Additions
-
0
-
0
21,180
-
0
160,087
181,267
Disposals
-
0
-
0
(1,707)
(13,663)
(282,089)
(297,459)
At 30 June 2023
2,160,000
60,357
107,495
156,560
853,903
3,338,315
Depreciation and impairment
At 1 July 2022
-
0
12,177
47,376
160,989
498,336
718,878
Depreciation charged in the year
37,926
12,301
13,449
4,873
189,650
258,199
Eliminated in respect of disposals
-
0
-
0
(1,707)
(12,774)
(264,224)
(278,705)
Revaluation
(37,926)
-
0
-
0
-
0
-
0
(37,926)
At 30 June 2023
-
0
24,478
59,118
153,088
423,762
660,446
Carrying amount
At 30 June 2023
2,160,000
35,879
48,377
3,472
430,141
2,677,869
At 30 June 2022
2,160,000
48,180
40,646
9,234
477,569
2,735,629
The company had no property, plant and equipment assets at 30 June 2023 or 30 June 2022.
ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
12
Property, plant and equipment
(Continued)
- 27 -

The freehold property was acquired at a cost of £1,228,759. The fair value of the freehold property has been arrived at on the basis of the directors knowledge of the property market, as well as a formal valuation report obtained on 9 March 2023 from Stiles Harold Williams Partnership LLP, an independent external property valuation specialist, which valued the property at £2,160,000 on an existing use basis. This valuation is considered by the directors to remain appropriate to use as at the year-end date.

If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:

Group
Company
2023
2022
2023
2022
£
£
£
£
Cost
1,228,759
1,228,759
-
-
Accumulated depreciation
460,333
437,758
-
-
Carrying value
768,426
791,001
-
-

The revaluation surplus is disclosed in note 23.

13
Investment property
Group
Company
2023
2023
£
£
Fair value
At 1 July 2022 & 30 June 2023
-
2,160,000

Investment property comprises of Land and Buildings owned by the company and occupied by subsidiaries Robert Heath Heating Limited, Robert Heath Property Services Limited and Robert Heath Technology Limited. The fair value of the freehold property has been arrived at on the basis of the directors knowledge of the property market, as well as a formal valuation report obtained on 9 March 2023 from Stiles Harold Williams Partnership LLP, an independent external property valuation specialist, which valued the property at £2,160,000 on an existing use basis. This valuation is considered by the directors to remain appropriate to use as at the year-end date.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2023
2022
£
£
Cost
2,000,000
2,000,000
Accumulated depreciation
-
-
Carrying amount
2,000,000
2,000,000
ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
13
Investment property
(Continued)
- 28 -

The land and buildings were purchased from subsidiary Robert Heath Heating Limited for £2million on 2 March 2016.

 

For group purchases the above land and buildings have been shown within Property, Plant & Equipment, as they are used by the group for trade purposes.

14
Fixed asset investments
Group
Company
2023
2022
2023
2022
Notes
£
£
£
£
Investments in subsidiaries
29
-
0
-
0
1,101
1,101
Unlisted investments
80,000
80,000
-
0
-
0
80,000
80,000
1,101
1,101

The above investments have been measured at cost less impairment. The unlisted investments represent investments which are not publically traded, however during the year the group obtained a current valuation of the investment held and the brought forward valuation remains appropriate.

15
Financial instruments
Group
Company
2023
2022
2023
2022
£
£
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
8,115,760
9,474,119
1,008,157
646,837
Equity instruments measured at cost less impairment
80,000
80,000
1,101
1,001
Carrying amount of financial liabilities
Measured at amortised cost
5,196,386
4,561,922
2,162,811
2,196,852
16
Inventories
Group
Company
2023
2022
2023
2022
£
£
£
£
Work in progress
395,301
146,908
-
-
Finished goods and goods for resale
468,378
222,348
-
0
-
0
863,679
369,256
-
-
ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 29 -
17
Trade and other receivables
Group
Company
2023
2022
2023
2022
Amounts falling due within one year:
£
£
£
£
Trade receivables
7,104,383
8,835,567
-
0
-
0
Corporation tax recoverable
211,461
211,461
211,461
211,461
Amounts due from subsidiary undertakings
-
0
-
0
-
0
20,285
Other receivables
1,011,377
638,552
1,008,157
626,552
Prepayments and accrued income
2,082,921
2,273,842
24,058
-
0
10,410,142
11,959,422
1,243,676
858,298
18
Current liabilities
Group
Company
2023
2022
2023
2022
£
£
£
£
Corporation tax payable
962,397
859,823
54,047
256,842
Other taxation and social security
821,856
1,146,155
-
0
-
0
Trade payables
4,165,520
3,451,648
-
0
-
0
Amounts due to subsidiary undertakings
-
0
-
0
2,154,386
2,184,977
Other payables
1,323
33,839
-
-
Accruals and deferred income
1,029,543
1,076,435
8,425
11,875
6,980,639
6,567,900
2,216,858
2,453,694
19
Borrowings

The Group had an invoice discounting facility which was secured by a debenture being a fixed charge over the fixed and current assets of the group. This included a charge over 264 Burlington Road, New Malden, Surrey (which is held in the company).

 

This facility has been ceased since the year-end on 14th July 2023, with the relevant charges now removed.

20
Deferred taxation

Deferred tax assets and liabilities are offset where the group or company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2023
2022
Group
£
£
ACAs
128,000
139,000
Revaluations
62,035
62,035
190,035
201,035
ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
20
Deferred taxation
(Continued)
- 30 -
Liabilities
Liabilities
2023
2022
Company
£
£
Revaluations
62,035
62,035
Group
Company
2023
2023
Movements in the year:
£
£
Liability at 1 July 2022
201,035
62,035
Credit to profit or loss
(11,000)
-
Liability at 30 June 2023
190,035
62,035

 

21
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit and loss in respect of defined contribution schemes
201,370
193,410

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

22
Share capital
Group and company
2023
2022
Ordinary share capital
£
£
Authorised
1,000 Ordinary shares of £1 each
1,000
1,000
Issued and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 31 -
23
Revaluation reserve
Group
Company
2023
2022
2023
2022
£
£
£
£
At beginning of year
1,307,964
1,900,424
-
0
-
0
Revaluation surplus/(deficit) arising in the year
37,926
(689,080)
-
0
-
0
Deferred tax on revaluation of PPE
-
125,965
-
-
Transfer to retained earnings
(16,351)
(29,345)
-
-
At end of year
1,329,539
1,307,964
-
0
-
24
Retained earnings
Group
Company
2023
2022
2023
2022
£
£
£
£
At the beginning of the year
11,233,208
7,391,540
503,058
923,628
Profit for the year
5,542,471
3,812,323
622,385
(420,570)
Transfer from revaluation reserve
16,351
29,345
-
-
At the end of the year
16,792,030
11,233,208
1,125,443
503,058
25
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2023
2022
2023
2022
£
£
£
£
Within one year
660,022
319,444
-
-
Between two and five years
838,608
134,616
-
-
1,498,630
454,060
-
-
26
Directors' transactions

During the year, the group has made a loan of £1,008,157 (2022: £626,552) to the directors of the company. These loans remain outstanding at the time of signing these financial statements.

 

Interest of £24,058 (2022: £nil) has been charged to the directors regarding these loans, inline with HMRC beneficial interest rates. This interest also remained outstanding at the time of signing these financial statements.

ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 32 -
27
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2023
2022
£
£
Aggregate compensation
36,745
46,571
Transactions with related parties

During the year, the group purchased IT equipment and services totalling £1,430,164 (2022: £1,433,943) from Ionize Limited, a company in which a director has a significant interest. The group also sold fixed assets of £9,089 (2022: £nil) to Ionize Limited. At the year-end a balance of £83,191 (2022: £116,626) was owed by the group to Ionize Limited.

 

The company has taken advantage of the exemption conferred by FRS 102 Section 33 from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared.

 

28
Controlling party

The ultimate controlling party is R B Heath, a director of the company.

29
Subsidiaries

Details of the company's subsidiaries at 30 June 2023 are as follows:

Name of undertaking and country of
Nature of business
Class of
% Held
incorporation or residency
shareholding
Direct
Robert Heath Heating Limited
UK
Heating services & installation
Ordinary
100.00
-
Robert Heath Technology Limited
UK
Non-trading
Ordinary
100.00
-
Robert Heath Property Services Limited
UK
Non-trading
Ordinary
100.00
-
ROBERT HEATH GROUP LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 33 -
30
Cash generated from group operations
2023
2022
£
£
Profit for the year after tax
5,542,471
3,812,323
Adjustments for:
Taxation charged
1,452,170
932,152
Finance costs
21,269
15,546
Investment income
(167,998)
(4,207)
Loss on disposal of property, plant and equipment
4,899
10,543
Amortisation and impairment of intangible assets
(1)
-
Depreciation and impairment of property, plant and equipment
258,199
249,956
Movements in working capital:
Increase in inventories
(494,423)
(83,781)
Decrease/(increase) in trade and other receivables
1,930,885
(5,026,430)
Increase in trade and other payables
310,165
524,953
Cash generated from operations
8,857,636
431,055
31
Analysis of changes in net funds - group
1 July 2022
Cash flows
30 June 2023
£
£
£
Cash at bank and in hand
4,166,800
7,094,752
11,261,552
2023-06-302022-07-01falseCCH SoftwareCCH Accounts Production 2023.300No description of principal activityR B HeathM L 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