REGISTERED NUMBER: |
Strategic Report, |
Report of the Directors and |
Audited Financial Statements |
for the Year Ended 30 June 2023 |
for |
Streets Heaver Computer Systems Limited |
REGISTERED NUMBER: |
Strategic Report, |
Report of the Directors and |
Audited Financial Statements |
for the Year Ended 30 June 2023 |
for |
Streets Heaver Computer Systems Limited |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 5 |
Statement of Comprehensive Income | 9 |
Statement of Financial Position | 10 |
Statement of Changes in Equity | 11 |
Statement of Cash Flows | 12 |
Notes to the Statement of Cash Flows | 13 |
Notes to the Financial Statements | 14 |
Streets Heaver Computer Systems Limited |
Company Information |
for the Year Ended 30 June 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Newland House |
The Point |
Weaver Road |
LINCOLN |
Lincolnshire |
LN6 3QN |
BANKERS: |
Unit 1 |
City Office Park |
Tritton Road |
LINCOLN |
Lincolnshire |
LN6 7QY |
SOLICITORS: |
Stonebow |
LINCOLN |
Lincolnshire |
LN2 1DA |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Strategic Report |
for the Year Ended 30 June 2023 |
The directors present their strategic report for the year ended 30 June 2023. |
REVIEW OF BUSINESS |
Our turnover and activity increased by 20.9% during the year and net profit before tax was 2.4% higher. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The principal risks are the need to constantly innovate to keep abreast of the significant world-wide competition and new entrants using the latest technological advances. In the UK, we have faced increased competition in the recruitment and retention of staff due to a national shortage of skilled staff. |
We have met the technological challenge through increased research and development and working with customers who share our enthusiasm for continued improvement in efficiency at the hospitals/clinics that we serve. |
FUTURE DEVELOPMENTS |
Our focus continues to on the development of our Compucare product which is used in private hospitals/clinics in the UK and overseas as well as the NHS, where it is significantly adopted in the private wings of many of the major Trusts. |
The breadth of the product continues to expand both in scope and activity. Our NHS approved data centre is also increasingly seen by customers as an efficient way of providing for their IT requirements. We are moving our hosted solution from our own datacentre to the Microsoft cloud and have a separate team developing our future cloud solution. |
GOING CONCERN |
The company continues to be cash generative with surpluses being retained in the business to support the company growth. |
ON BEHALF OF THE BOARD: |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Report of the Directors |
for the Year Ended 30 June 2023 |
The directors present their report with the financial statements of the company for the year ended 30 June 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of developing and selling computer software and related hardware for the health industry. |
DIVIDENDS |
The total distribution of dividends for the year ended 30 June 2023 will be £ |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report. |
CHARITABLE DONATIONS AND EXPENDITURE |
Donations in the year were made to St Peter & St Pauls Church - £800. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Report of the Directors |
for the Year Ended 30 June 2023 |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Streets Heaver Computer Systems Limited |
Opinion |
We have audited the financial statements of Streets Heaver Computer Systems Limited (the 'company') for the year ended 30 June 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 June 2023 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Report of the Independent Auditors to the Members of |
Streets Heaver Computer Systems Limited |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Report of the Independent Auditors to the Members of |
Streets Heaver Computer Systems Limited |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities including fraud. |
Based on our understanding of the company and its industry we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation, health and safety regulation, anti-money laundering regulation. |
To help us identify instances of non-compliance with these laws and regulations and in identifying and assessing the risk of material misstatement in respect to non-compliance, our procedures included, but were not limited to: |
- Inquiring of management and where appropriate those charge with governance as to whether the company is in compliance with laws and regulations. |
- Inspecting correspondence, if any, with relevant licensing authorities. |
- Communicating to our engagement team identified laws and regulations and remaining alert to any instances of non-compliance throughout our audit; and |
- Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud. |
We also considered those laws wand regulations which have a direct effect on the preparation of the financial statements such as tax legislation, the Companies Act 2006 and the reporting framework (FRS102). |
Further to this, we evaluated the Directors' and managements incentives and opportunities for fraudulent manipulation of the financial statements including the risk of management override of controls and determined the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to property valuations and significant one off or unusual transactions. |
Our audit procedures in relation to fraud included but were not limited to: |
- Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud; |
- Gaining an understanding of internal controls established to mitigate risks related to fraud; |
- Discussing amongst the engagement team the risks of fraud; and |
- Addressing the risks of fraud through management override of controls by performing journal entry testing. |
Report of the Independent Auditors to the Members of |
Streets Heaver Computer Systems Limited |
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Newland House |
The Point |
Weaver Road |
LINCOLN |
Lincolnshire |
LN6 3QN |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Statement of Comprehensive |
Income |
for the Year Ended 30 June 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER | 3 |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
1,062,127 | 1,035,232 |
Other operating income |
OPERATING PROFIT | 5 |
Interest receivable and similar income |
PROFIT BEFORE TAXATION |
Tax on profit | 6 |
PROFIT FOR THE FINANCIAL YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Statement of Financial Position |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
Investments | 9 |
CURRENT ASSETS |
Debtors | 10 |
Investments | 11 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 12 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 13 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 14 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Statement of Changes in Equity |
for the Year Ended 30 June 2023 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 July 2021 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 June 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 June 2023 |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Statement of Cash Flows |
for the Year Ended 30 June 2023 |
2023 | 2022 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Increase in Investments | ( |
) |
Interest received |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
Amount withdrawn by directors | (6,405 | ) | (20,520 | ) |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
(Decrease)/increase in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of year |
2 |
3,421,593 |
Cash and cash equivalents at end of year |
2 |
2,773,278 |
4,983,866 |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Notes to the Statement of Cash Flows |
for the Year Ended 30 June 2023 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2023 | 2022 |
£ | £ |
Profit before taxation |
Depreciation charges |
Profit on disposal of fixed assets | ( |
) |
Finance income | (13,394 | ) | (918 | ) |
1,245,048 | 1,136,978 |
Increase in trade and other debtors | ( |
) | ( |
) |
(Decrease)/increase in trade and other creditors | ( |
) |
Cash generated from operations |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts: |
Year ended 30 June 2023 |
30.6.23 | 1.7.22 |
£ | £ |
Cash and cash equivalents | 2,773,278 | 4,983,866 |
Year ended 30 June 2022 |
30.6.22 | 1.7.21 |
£ | £ |
Cash and cash equivalents | 4,983,866 | 3,421,593 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.7.22 | Cash flow | At 30.6.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 4,983,866 | (2,210,588 | ) | 2,773,278 |
4,983,866 | ( |
) | 2,773,278 |
Liquid resources |
Current asset investments | 596,389 | (6,189 | ) | 590,200 |
596,389 | (6,189 | ) | 590,200 |
Total | 5,580,255 | (2,216,777 | ) | 3,363,478 |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Streets Heaver Computer Systems Limited is a |
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. |
Turnover |
Turnover represents net invoiced sales of goods and services, excluding the value added tax. |
Income is deferred at the year end to recognise only the elements of income relating to the current financial year, in respect of maintenance contracts. |
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 |
Land - not depreciated. |
Plant and machinery - 15% on cost and monthly over a 12 month period |
Fixtures and fittings - 15% on cost |
Motor vehicles - 20% on cost |
Computer equipment - 33% on cost |
Data centre included in computer equipment - 20% on cost |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date. |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 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 statement of financial position 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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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. |
Current asset investments |
The Current Asset Investments are included within the accounts at the market value. |
Fixed asset investments |
Fixed asset investments are stated at cost less provisions for permanent diminution. |
Financial instruments |
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows: |
Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. |
Cash at bank is classified as a basic financial instrument and is measured at transaction price. |
Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest. |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
3. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the company. |
An analysis of turnover by geographical market is given below: |
2023 | 2022 |
£ | £ |
United Kingdom |
Europe |
4. | EMPLOYEES AND DIRECTORS |
2023 | 2022 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2023 | 2022 |
Admin | 4 | 4 |
Support | 17 | 16 |
Data centre | 3 | 2 |
Projects | 19 | 20 |
Development | 27 | 24 |
Sales marketing | 5 | 6 |
Central administration | 2 | 2 |
Training | 2 | 2 |
The number of directors to whom retirement benefits were accruing was as follows; |
Defined contribution schemes 2023 - 2 (2022 - 2). |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
5. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Other operating leases |
Depreciation - owned assets |
Profit on disposal of fixed assets | ( |
) |
Foreign exchange differences | ( |
) | ( |
) |
Audit fees |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2023 | 2022 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax |
Tax on profit |
UK corporation tax has been charged at 19% (2022 - 19%). |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
2023 | 2022 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of |
Effects of: |
Expenses not deductible for tax purposes |
Income not taxable for tax purposes | ( |
) |
Capital allowances in excess of depreciation | ( |
) | ( |
) |
Adjustments to tax charge in respect of previous periods | ( |
) |
Deferred tax | 97,306 | 2,463 |
Research & development | (74,252 | ) | (109,123 | ) |
Group Relief | (7,426 | ) | (16,464 | ) |
Change in Corporation Tax rate | 5,266 | - |
Total tax charge | 159,776 | 68,261 |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
7. | DIVIDENDS |
2023 | 2022 |
£ | £ |
Ordinary A shares of £1 each |
Interim |
8. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 July 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
8. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
9. | FIXED ASSET INVESTMENTS |
Shares in |
profile Q |
£ |
COST |
At 1 July 2022 |
and 30 June 2023 |
PROVISIONS |
At 1 July 2022 |
and 30 June 2023 | 41,770 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
The company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Bad debt provision | (21,500 | ) | (14,468 | ) |
Other debtors |
Prepayments and accrued income |
11. | CURRENT ASSET INVESTMENTS |
2023 | 2022 |
£ | £ |
Listed investments | 590,200 | 596,389 |
Market value of listed investments at 30 June 2023 - £ 590,200 (2022 - £ 596,389 ). |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors | 62 | - |
Tax |
Social security and other taxes |
Pension control | 16,887 | 15,002 |
VAT | 167,663 | 229,068 |
Amounts due to group |
undertakings | - | 2,000,000 |
Amounts owed to Profile Q |
Directors' current accounts | 407 | 6,812 |
Accruals and deferred income |
13. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax |
Deferred tax b/fwd | 44,449 | 41,986 |
Accelerated capital allowances | 83,270 | 2,463 |
Tax rate adjustment | 14,037 | - |
141,756 | 44,449 |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
13. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 July 2022 |
Deferred tax charge | 83,270 |
Change of tax rate | 14,037 |
Balance at 30 June 2023 |
14. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary A | £1 | 40,270 | 40,270 |
Ordinary B | £1 | 5,000 | 5,000 |
45,270 | 45,270 |
Allotted and issued: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary C | £1 | 2,500 | 2,500 |
Ordinary D | £1 | 2,500 | 2,500 |
Ordinary E | £1 | 2,500 | 2,500 |
7,500 | 7,500 |
Ordinary shares A - E are ranked in pari passu in all respects. |
15. | ULTIMATE PARENT COMPANY |
Heaver Group Holdings is regarded by the directors as being the company's ultimate parent company. |
Mr P M Heaver is the ultimate controlling party. Consolidated accounts can be obtained from the address below; |
The Point |
Weaver Road |
LINCOLN |
Lincolnshire |
LN6 3QN |
Streets Heaver Computer Systems Limited (Registered number: 01999298) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
16. | RELATED PARTY DISCLOSURES |
As at 30 June 2023 included within creditors is a balance of £407 (2022: £6,812) owed to Mr P M Heaver. This is an unsecured loan and no interest has been charged. |
During the year total dividends were paid of £400,000 (2022: £162,850). |
Mr P M Heaver owns a London property and charges the company a rent of £1,083 a month for the use of it for when staff members are working at a London area client's premises. The property was available for the entire year and is rented under an assured leasehold tenancy agreement. The amount paid in rent during the year was £12,996 (2022: £12,996). |
Included in other debtors is an amount of £15,490 (2022: £16,990) which relates to the Coleby Pub Investments Limited, Mr P M Heaver is a Director of this company. This is an unsecured loan and no interest has been charged. |