Registered number
04246890
Heath Financial Associates Limited
Filleted Accounts
31 March 2023
Heath Financial Associates Limited
Registered number: 04246890
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 25,792 29,146
Investments 4 273,748 269,846
299,540 298,992
Current assets
Cash at bank 54,223 79,062
Creditors: amounts falling due within one year 5 (13,224) (30,219)
Net current assets 40,999 48,843
Net assets 340,539 347,835
Capital and reserves
Called up share capital 200 200
Profit and loss account 340,339 347,635
Shareholder's funds 340,539 347,835
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Konrad
Director
Approved by the board on 24 May 2023
Heath Financial Associates Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services which is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Furniture & equipment 15% reducing balance
Investments
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Furniture and equipment
£
Cost
At 1 April 2022 97,854
Additions 1,197
At 31 March 2023 99,051
Depreciation
At 1 April 2022 68,708
Charge for the year 4,551
At 31 March 2023 73,259
Net book value
At 31 March 2023 25,792
At 31 March 2022 29,146
4 Investments
Other
investments
£
Cost
At 1 April 2022 269,846
Additions 6,644
Disposals (2,742)
At 31 March 2023 273,748
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 2,162 2,112
Value added tax 2,200 1,720
Accruals - 210
Directors current acccount 8,862 26,177
13,224 30,219
6 Other information
Heath Financial Associates Limited is a private company limited by shares and incorporated in England. Its registered office is 13c Wedderburn Road, London, NW3 5QS
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