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REGISTERED NUMBER: 07440219 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Heathbrook Limited

Heathbrook Limited (Registered number: 07440219)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Heathbrook Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: N T Greenfield
N Greenfield
A Greenfield





REGISTERED OFFICE: 14-16 Boulton Road
Reading
Berkshire
RG2 0NH





REGISTERED NUMBER: 07440219 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Heathbrook Limited (Registered number: 07440219)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 457,105 472,389
457,105 472,389

CURRENT ASSETS
Stocks 734,405 835,182
Debtors 6 800,175 915,813
Cash at bank and in hand 757,145 685,666
2,291,725 2,436,661
CREDITORS
Amounts falling due within one year 7 1,164,895 891,158
NET CURRENT ASSETS 1,126,830 1,545,503
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,583,935

2,017,892

CREDITORS
Amounts falling due after more than one
year

8

(262,582

)

(383,197

)

PROVISIONS FOR LIABILITIES 11 (27,696 ) (21,826 )
NET ASSETS 1,293,657 1,612,869

CAPITAL AND RESERVES
Called up share capital 12 12,000 12,000
Retained earnings 1,281,657 1,600,869
SHAREHOLDERS' FUNDS 1,293,657 1,612,869

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Heathbrook Limited (Registered number: 07440219)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2024 and were signed on its behalf by:





A Greenfield - Director


Heathbrook Limited (Registered number: 07440219)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Heathbrook Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 50% on cost and 33% on cost
Office equipment - 33% on cost and 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.


Heathbrook Limited (Registered number: 07440219)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 29 ) .

Heathbrook Limited (Registered number: 07440219)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 450,001
AMORTISATION
At 1 January 2023
and 31 December 2023 450,001
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Office
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 497,019 86,171 55,654 171,381 810,225
Additions - - 7,213 24,029 31,242
Disposals - - (77 ) (29,012 ) (29,089 )
At 31 December 2023 497,019 86,171 62,790 166,398 812,378
DEPRECIATION
At 1 January 2023 109,341 79,136 48,796 100,563 337,836
Charge for year 9,941 2,302 4,474 28,833 45,550
Eliminated on disposal - - (7 ) (28,106 ) (28,113 )
At 31 December 2023 119,282 81,438 53,263 101,290 355,273
NET BOOK VALUE
At 31 December 2023 377,737 4,733 9,527 65,108 457,105
At 31 December 2022 387,678 7,035 6,858 70,818 472,389

The company has allowed a fixed charge over the company's assets, including the freehold property and all other assets owned outright with a carrying value of £457,105 (2022: £472,389), as security for the bank loan.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 605,500 738,596
Other debtors 194,675 177,217
800,175 915,813

Heathbrook Limited (Registered number: 07440219)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 22,876 25,360
Trade creditors 668,548 492,434
Taxation and social security 212,354 219,609
Other creditors 261,117 153,755
1,164,895 891,158

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 262,582 283,197
Other creditors - 100,000
262,582 383,197

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 171,077 174,071

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 10,894 6,419
Between one and five years 30,867 -
41,761 6,419

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 285,458 308,557

11. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 27,696 21,826

Heathbrook Limited (Registered number: 07440219)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 21,826
Accelerated capital allowances 5,870
Balance at 31 December 2023 27,696

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
6,000 A Ordinary £1 6,000 6,000
6,000 B Ordinary £1 6,000 6,000
12,000 12,000

13. RELATED PARTY DISCLOSURES

Included in other creditors at the year end is £166,083 (2022: £33,158) which is owed to the directors.