REGISTERED NUMBER: |
Financial Statements for the Year Ended 30th September 2023 |
for |
Heathhall Business Centre Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30th September 2023 |
for |
Heathhall Business Centre Limited |
Heathhall Business Centre Limited (Registered number: SC333338) |
Contents of the Financial Statements |
for the Year Ended 30th September 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 6 |
Heathhall Business Centre Limited |
Company Information |
for the Year Ended 30th September 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
Dumfries Enterprise Park |
Heathhall |
Dumfries |
DUMFRIESSHIRE |
DG1 3SJ |
BANKERS: |
76 Hanover Street |
Edinburgh |
EH2 1EL |
Heathhall Business Centre Limited (Registered number: SC333338) |
Balance Sheet |
30th September 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Heathhall Business Centre Limited (Registered number: SC333338) |
Notes to the Financial Statements |
for the Year Ended 30th September 2023 |
1. | STATUTORY INFORMATION |
Heathhall Business Centre Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised: |
Sales of goods |
Turnover from the sale of packaging 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 the continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; |
- the amount of turnover 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 |
Turnover from a contract to provide insurance and storage 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 turnover 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. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Amounts written off each asset over the estimated useful life represent cost less residual value. The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. |
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 first in, first out basis. |
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. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Heathhall Business Centre Limited (Registered number: SC333338) |
Notes to the Financial Statements - continued |
for the Year Ended 30th September 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Financial instruments |
Cash and cash equivalents |
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. |
Trade debtors |
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business. |
Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties. |
Trade creditors |
Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities. |
Borrowings |
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. |
Provisions and contingencies |
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Heathhall Business Centre Limited (Registered number: SC333338) |
Notes to the Financial Statements - continued |
for the Year Ended 30th September 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st October 2022 |
Additions |
Disposals | ( |
) | ( |
) |
Revaluations |
At 30th September 2023 |
DEPRECIATION |
At 1st October 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30th September 2023 |
NET BOOK VALUE |
At 30th September 2023 |
At 30th September 2022 |
Cost or valuation at 30th September 2023 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2010 | 78,110 | - | 78,110 |
Valuation in 2014 | (1,094,880 | ) | - | (1,094,880 | ) |
Valuation in 2023 | 3,546,061 | - | 3,546,061 |
Cost | 3,233,977 | 2,415,560 | 5,649,537 |
5,763,268 | 2,415,560 | 8,178,828 |
Land and buildings were valued on an open market basis on 28th February 2023 by Jones Lang LaSalle Ltd . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Heathhall Business Centre Limited (Registered number: SC333338) |
Notes to the Financial Statements - continued |
for the Year Ended 30th September 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
9. | RESERVES |
Revaluation |
reserve |
£ |
Revaluation in year | 3,546,061 |
At 30th September 2023 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | RELATED PARTY DISCLOSURES |
The company operates an inter company loan account with its parent company, Heathhall Holdings Limited. At 30th September 2023 Heathhall Business Centre Limited was owed the sum of £66,869 (2022 - owed £149,131 to) from Heathhall Holdings Limited. |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is S S Hodgson. |