Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28212022-03-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity22truetrue 00520618 2022-03-01 2023-02-28 00520618 2021-03-01 2022-02-28 00520618 2023-02-28 00520618 2022-02-28 00520618 c:Director1 2022-03-01 2023-02-28 00520618 c:Director3 2022-03-01 2023-02-28 00520618 d:Buildings 2022-03-01 2023-02-28 00520618 d:Buildings 2023-02-28 00520618 d:Buildings 2022-02-28 00520618 d:Buildings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 00520618 d:Buildings d:LeasedAssetsHeldAsLessee 2022-03-01 2023-02-28 00520618 d:Buildings d:LongLeaseholdAssets 2023-02-28 00520618 d:Buildings d:LongLeaseholdAssets 2022-02-28 00520618 d:LandBuildings 2023-02-28 00520618 d:LandBuildings 2022-02-28 00520618 d:PlantMachinery 2022-03-01 2023-02-28 00520618 d:FurnitureFittings 2022-03-01 2023-02-28 00520618 d:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 00520618 d:OtherPropertyPlantEquipment 2023-02-28 00520618 d:OtherPropertyPlantEquipment 2022-02-28 00520618 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 00520618 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-03-01 2023-02-28 00520618 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 00520618 d:LeasedAssetsHeldAsLessee 2022-03-01 2023-02-28 00520618 d:PatentsTrademarksLicencesConcessionsSimilar 2023-02-28 00520618 d:PatentsTrademarksLicencesConcessionsSimilar 2022-02-28 00520618 d:CurrentFinancialInstruments 2023-02-28 00520618 d:CurrentFinancialInstruments 2022-02-28 00520618 d:Non-currentFinancialInstruments 2023-02-28 00520618 d:Non-currentFinancialInstruments 2022-02-28 00520618 d:Non-currentFinancialInstruments 1 2023-02-28 00520618 d:Non-currentFinancialInstruments 1 2022-02-28 00520618 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 00520618 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 00520618 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 00520618 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 00520618 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 00520618 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-02-28 00520618 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 00520618 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 00520618 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 00520618 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-02-28 00520618 d:ShareCapital 2023-02-28 00520618 d:ShareCapital 2022-02-28 00520618 d:OtherMiscellaneousReserve 2023-02-28 00520618 d:OtherMiscellaneousReserve 2022-02-28 00520618 d:RetainedEarningsAccumulatedLosses 2023-02-28 00520618 d:RetainedEarningsAccumulatedLosses 2022-02-28 00520618 c:OrdinaryShareClass1 2022-03-01 2023-02-28 00520618 c:OrdinaryShareClass1 2023-02-28 00520618 c:OrdinaryShareClass1 2022-02-28 00520618 c:PreferenceShareClass1 2022-03-01 2023-02-28 00520618 c:PreferenceShareClass1 2023-02-28 00520618 c:PreferenceShareClass1 2022-02-28 00520618 c:FRS102 2022-03-01 2023-02-28 00520618 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 00520618 c:FullAccounts 2022-03-01 2023-02-28 00520618 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 00520618 d:HirePurchaseContracts d:WithinOneYear 2023-02-28 00520618 d:HirePurchaseContracts d:WithinOneYear 2022-02-28 00520618 d:HirePurchaseContracts d:MoreThanFiveYears 2023-02-28 00520618 d:HirePurchaseContracts d:MoreThanFiveYears 2022-02-28 00520618 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-02-28 00520618 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-02-28 00520618 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 00520618 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 00520618 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 00520618 d:TaxLossesCarry-forwardsDeferredTax 2022-02-28 00520618 2 2022-03-01 2023-02-28 00520618 6 2022-03-01 2023-02-28 00520618 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-02-28 00520618 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-02-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 00520618









A. & E. G. HEADING LIMITED

FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023







































 
A. & E. G. HEADING LIMITED
REGISTERED NUMBER: 00520618

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
  
12,385,901
12,647,861

Investments
  
4,653
4,653

  
12,390,554
12,652,514

Current assets
  

Stocks
 7 
2,858,267
3,206,935

Debtors: amounts falling due within one year
 8 
5,015,366
4,419,869

Current asset investments
 9 
59,291
59,291

  
7,932,924
7,686,095

Creditors: amounts falling due within one year
 10 
(2,976,216)
(3,415,981)

Net current assets
  
 
 
4,956,708
 
 
4,270,114

Total assets less current liabilities
  
17,347,262
16,922,628

Creditors: amounts falling due after more than one year
 11 
(7,816,716)
(7,889,547)

Provisions for liabilities
  

Deferred tax
 14 
(475,882)
(510,204)

  
 
 
(475,882)
 
 
(510,204)

Net assets
  
9,054,664
8,522,877

Page 1

 
A. & E. G. HEADING LIMITED
REGISTERED NUMBER: 00520618
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
 15 
13,100
13,100

Other reserves
  
6,027
6,027

Profit and loss account
  
9,035,537
8,503,750

  
9,054,664
8,522,877


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr J E Heading
................................................
Mr M E Heading
Director
Director


Date: 27 November 2023


The notes on pages 3 to 14 form part of these financial statements.

Page 2

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

A & E G Heading Limited is a private company limited by shares and is incorporated in England and Wales.
The address of its registered office is Greenwood House, Greenwood Court, Bury St Edmunds, Suffolk, IP32 7GY.
The address of its principal place of business is Middlefield, Stocking Drove, Chatteris, Cambridgeshire, PE16 6SH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line or reducing balance basis.

Depreciation is provided on the following bases:

Freehold property
-
5%-10% per annum on a straight line basis
Plant & machinery
-
10%-35% per annum on a reducing balance basis and 10% per annum on a straight line basis
Fixtures & fittings
-
15% per annum on a reducing balance basis
Other fixed assets
-
5%-10% per annum on a straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable 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.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. 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.

Page 6

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.17

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.18

Dividends

Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.


3.


Employees

The average monthly number of employees, including directors, during the year was 21 (2022 - 22).

Page 7

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Intangible assets




Entitlements

£



Cost


At 1 March 2022
7,359



At 28 February 2023

7,359



Amortisation


At 1 March 2022
7,359



At 28 February 2023

7,359



Net book value



At 28 February 2023
-



At 28 February 2022
-



Page 8

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Tangible fixed assets





Land and buildings
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 March 2022
12,504,216
5,460,721
17,964,937


Additions
-
328,868
328,868


Disposals
-
(182,045)
(182,045)



At 28 February 2023

12,504,216
5,607,544
18,111,760



Depreciation


At 1 March 2022
2,213,701
3,103,375
5,317,076


Charge for the year on owned assets
81,342
153,114
234,456


Charge for the year on financed assets
-
254,698
254,698


Disposals
-
(80,370)
(80,370)



At 28 February 2023

2,295,043
3,430,817
5,725,860



Net book value



At 28 February 2023
10,209,173
2,176,727
12,385,900



At 28 February 2022
10,290,515
2,357,346
12,647,861




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
10,143,750
10,223,370

Long leasehold
65,423
67,145

10,209,173
10,290,515


Page 9

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

           5.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Other fixed assets
1,056,655
1,028,666


6.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 March 2022
4,653



At 28 February 2023
4,653





7.


Stocks

2023
2022
£
£

Valuation
2,858,267
3,206,935


Page 10

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

8.


Debtors

2023
2022
£
£


Trade debtors
1,245,299
639,215

Other debtors
2,584,282
2,825,465

Prepayments and accrued income
1,185,785
840,571

Tax recoverable
-
114,618

5,015,366
4,419,869



9.


Current asset investments

2023
2022
£
£

Unlisted investments
59,291
59,291



10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
1,591,175
1,814,035

Bank loans
80,000
80,000

Trade creditors
417,811
550,211

Amounts owed to other participating interests
4,600
4,600

Corporation tax
158,712
-

Other taxation and social security
15,333
31,063

Obligations under finance lease and hire purchase contracts
197,614
122,657

Other creditors
171,045
459,410

Accruals and deferred income
339,926
354,005

2,976,216
3,415,981


Page 11

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

11.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
6,791,667
6,871,667

Net obligations under finance leases and hire purchase contracts
625,049
617,880

Share capital treated as debt
400,000
400,000


The following liabilities were secured:

2023
2022
£
£



Bank loans
6,871,667
6,951,667

Finance lease and hire purchase contracts
822,663
740,537

7,694,330
7,692,204

Details of security provided:

Bank borrowings are secured against land owned by the Company. Finance lease and hire purchase contracts are secured on the assets concerned.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2023
2022
£
£


Repayable other than by instalments
6,565,000
6,565,000

6,565,000
6,565,000



Page 12

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

12.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
80,000
80,000

Amounts falling due 1-2 years

Bank loans
80,000
80,000

Amounts falling due 2-5 years

Bank loans
146,667
226,667

Amounts falling due after more than 5 years

Bank loans
6,565,000
6,565,000

6,871,667
6,951,667



13.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
222,200
122,657

Between 1-5 years
579,478
427,667

Over 5 years
96,000
183,299

897,678
733,623


14.


Deferred taxation




2023


£






At beginning of year
(510,204)


Charged to profit or loss
34,322



At end of year
(475,882)

Page 13

 
A. & E. G. HEADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
 
14.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(523,538)
(531,369)

Other timing differences
47,656
21,165


15.


Share capital

2023
2022
£
£
Shares classified as equity

Allotted, called up and fully paid



13,100 (2022 - 13,100) Ordinary shares of £1.00 each
13,100
13,100

2023
2022
£
£
Shares classified as debt

Allotted, called up and fully paid



400,000 (2022 - 400,000) Redeemable preference shares shares of £1.00 each
400,000
400,000


The 400,000 redeemable preference shares of £1 each can be redeemed on or before 28 February 2033. The company is obliged to redeem those shares and no premium is payable upon redemption.


16.


Pension commitments

The company operates a defined contributions pension scheme for its employees and also a defined
contributions scheme for one of its directors. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions
payable by the company to the fund and amounted to £17,572 (2022 - £23,760).


17.


Related party transactions

The balance due to directors at 28 February 2023 was £149,135 (2022 - £76,302).
Included within other debtors is £2,407,671 (2021 - £2,778,926) showing as due to a connected Company for which one of the Directors has control over.
The Company is the guarantor for lending undertaken by the same connected Company.

 
Page 14