Registered number
11030596
Healey House Holdings Ltd
Filleted Accounts
for the year ended 31 March 2024
Healey House Holdings Ltd
Registered number: 11030596
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Property, plant and equipment 3 - 33,094
Current assets
Debtors 4 792,032 1,705,313
Cash at bank and in hand 15,066 18,422
807,098 1,723,735
Creditors: amounts falling due within one year 5 (597,052) (1,544,819)
Net current assets 210,046 178,916
Total assets less current liabilities 210,046 212,010
Creditors: amounts falling due after more than one year 6 (22,890) (27,052)
Net assets 187,156 184,958
Capital and reserves
Called up share capital 1 1
Profit and loss account 187,155 184,957
Shareholders' funds 187,156 184,958
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 members have 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.
G A Lindley
Director
Approved by the board on 2 April 2024
Healey House Holdings Ltd
Notes to the Accounts
for the year ended 31 March 2024
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services 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, other than freehold land and buildings, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% on reducing balance
Fixtures, fittings, tools and equipment 10% on reducing balance
Investments
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 April 2023 54,666
Disposals (54,666)
At 31 March 2024 -
Depreciation
At 1 April 2023 21,572
On disposals (21,572)
At 31 March 2024 -
Net book value
At 31 March 2024 -
At 31 March 2023 33,094
4 Debtors 2024 2023
£ £
Other debtors 792,032 1,705,313
Amounts due after more than one year included above 775,000 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,162 724,162
Taxation and social security costs 590 61,008
Other creditors 592,300 759,649
597,052 1,544,819
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 22,890 27,052
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 6,243 10,405
Secured bank loans - 720,000
The Cumberland Building Society had a fixed and floating charge over all the property and undertaking of the company, which was satisfied during the accounting period.
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
George Andrew Lindley
Loan account with no fixed terms for repayment. Interest of £368 (2023 : nil) was charged by the company at a rate of 2.25%. - (74,016) 74,016 -
Jennifer Victoria Lindley
Loan account with no fixed terms for repayment. Interest of £271 (2023 : nil) was charged by the company at a rate of 2.25%. - (49,519) 49,519 -
- (123,535) 123,535 -
9 Related party transactions
The company has a loan from Mr G A Lindley, a director. The director charges interest on the loan and the total interest expense on the loan to the company during the accounting period was £4,049 (2023 : £25,066). The total amount owed by the company at the accounting date was £293,500 (2023 : £362,144). There are no fixed terms for repayment.
The company has a loan from Mrs J V Lindley, a director. The director charges interest on the loan and the total interest expense on the loan to the company during the accounting period was £4,049 (2023 : £8,752). The total amount owed by the company at the accounting date was £293,500 (2023 : £131,303). There are no fixed terms for repayment.
Brown Royd Accountants Ltd is a connected company by virtue of Mr G A Lindley, a director, owning a 100% shareholding in Brown Royd Accountants Ltd, and a 50% shareholding in the company. The company had a loan with Brown Royd Accountants Ltd. The loan was interest free and there were no fixed terms for repayment. The total owed by the company at the accounting date was nil (2023 : £205,000)
Mr G A Lindley & Mrs J V Lindley, the directors, provided a personal guarantee to The Cumberland Building Society to secure borrowings by the company.
10 Other information
Healey House Holdings Ltd is a private company limited by shares and incorporated in England. Its registered office is:
41 Church Lane
South Crosland
Huddersfield
West Yorkshire
HD4 7DD
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