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REGISTERED NUMBER: 12891092 (England and Wales)













Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 30 June 2023

for

Heaver Group Holdings Ltd

Heaver Group Holdings Ltd (Registered number: 12891092)






Contents of the Consolidated Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow
Statement

15

Notes to the Consolidated Financial
Statements

16


Heaver Group Holdings Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mr P M Heaver
Mrs L G Heaver





REGISTERED OFFICE: The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN





REGISTERED NUMBER: 12891092 (England and Wales)





AUDITORS: Nicholsons Audit (Statutory Auditor)
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN

Heaver Group Holdings Ltd (Registered number: 12891092)

Group Strategic Report
for the Year Ended 30 June 2023

The directors present their strategic report of the company and the group for the year ended 30 June 2023.

Heaver Group Holdings Ltd is the holding company and owns 100% of the shares in Streets Heaver Computer Systems Ltd and Church Farm Swayfield Ltd. Group costs are recharged to the respective subsidiaries and its only other source of income is dividends received from subsidiaries.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks are the performance of subsidiaries. Streets Heaver Computer Systems traded strongly during the year with a net profit after tax of £974,021 and Church Farm Swayfield had a small loss due to a combination of poor market and weather conditions.

The group maintains a strong financial position with an absence of borrowing.

We have met the technological challenges through research and development and working closely with customers who share our enthusiasm for the constant improvement and scope of our products.

FUTURE DEVELOPMENT
Streets Heaver continues to focus on the development of our leading private hospital information system ("Compucare") widely used in many private hospitals/clinics as well as leading UK NHS Trusts. The breadth of our product continues to expand in scope and is now provided as a hosted solution from our NHS approved data centre or as Software as a Service from the Microsoft Cloud.

ON BEHALF OF THE BOARD:





Mr P M Heaver - Director


28 February 2024

Heaver Group Holdings Ltd (Registered number: 12891092)

Report of the Directors
for the Year Ended 30 June 2023

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of Heaver Group Holdings Ltd - Holding company.
Streets Heaver Computer Systems Ltd - developing and selling computer software and related hardware for the health industry.
Church Farm Swayfield Ltd - Farming
Profile Q Limited - Dormant company

DIVIDENDS
The total distribution of dividends for the year ended 30 June 2023 will be £360,000.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

Mr P M Heaver
Mrs L G Heaver

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group 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). 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Heaver Group Holdings Ltd (Registered number: 12891092)

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 group'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 group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mr P M Heaver - Director


28 February 2024

Report of the Independent Auditors to the Members of
Heaver Group Holdings Ltd

Opinion
We have audited the financial statements of Heaver Group Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 30 June 2023 and of the group's 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 group 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 group's and the parent 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.

Report of the Independent Auditors to the Members of
Heaver Group Holdings Ltd


Other information
The directors are responsible for the other information. The other information comprises the information in the Group 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.

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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Heaver Group Holdings Ltd


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
Heaver Group Holdings Ltd

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.




Steve Robinson ACA (Senior Statutory Auditor)
for and on behalf of Nicholsons Audit (Statutory Auditor)
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN

15 March 2024

Heaver Group Holdings Ltd (Registered number: 12891092)

Consolidated
Income Statement
for the Year Ended 30 June 2023

2023 2022
Notes £    £   

TURNOVER 3 5,355,205 4,424,370

Cost of sales 674,743 381,422
GROSS PROFIT 4,680,462 4,042,948

Administrative expenses 3,708,540 3,078,933
971,922 964,015

Other operating income 82,484 11,396
OPERATING PROFIT 5 1,054,406 975,411

Interest receivable and similar
income

30,453

918
PROFIT BEFORE TAXATION 1,084,859 976,329

Tax on profit 6 159,776 68,261
PROFIT FOR THE FINANCIAL YEAR 925,083 908,068

Heaver Group Holdings Ltd (Registered number: 12891092)

Consolidated Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 2,113,425 1,785,251
Investments 10 1,010 1,010
2,114,435 1,786,261

CURRENT ASSETS
Stocks 11 11,029 11,741
Debtors 12 924,235 837,498
Investments 13 590,200 596,389
Cash at bank and in hand 4,727,850 5,009,569
6,253,314 6,455,197
CREDITORS
Amounts falling due within one year 14 1,135,015 1,671,114
NET CURRENT ASSETS 5,118,299 4,784,083
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,232,734

6,570,344

PROVISIONS FOR LIABILITIES 15 141,756 44,449
NET ASSETS 7,090,978 6,525,895

CAPITAL AND RESERVES
Called up share capital 16 52,770 52,770
Retained earnings 17 7,038,208 6,473,125
7,090,978 6,525,895

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:





Mr P M Heaver - Director


Heaver Group Holdings Ltd (Registered number: 12891092)

Company Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 - -
Investments 10 52,870 52,870
52,870 52,870

CURRENT ASSETS
Debtors 12 1,205,152 3,152,152
Cash at bank 1,932,542 21,238
3,137,694 3,173,390
CREDITORS
Amounts falling due within one year 14 2,400 90,562
NET CURRENT ASSETS 3,135,294 3,082,828
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,188,164

3,135,698

CAPITAL AND RESERVES
Called up share capital 16 52,770 52,770
Retained earnings 3,135,394 3,082,928
3,188,164 3,135,698

Company's profit for the financial
year

412,466

2,161,751

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:





Mr P M Heaver - Director


Heaver Group Holdings Ltd (Registered number: 12891092)

Consolidated 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 52,770 5,760,276 5,813,046

Changes in equity
Dividends - (195,219 ) (195,219 )
Total comprehensive income - 908,068 908,068
Balance at 30 June 2022 52,770 6,473,125 6,525,895

Changes in equity
Dividends - (360,000 ) (360,000 )
Total comprehensive income - 925,083 925,083
Balance at 30 June 2023 52,770 7,038,208 7,090,978

Heaver Group Holdings Ltd (Registered number: 12891092)

Company 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 52,770 1,116,396 1,169,166

Changes in equity
Dividends - (195,219 ) (195,219 )
Total comprehensive income - 2,161,751 2,161,751
Balance at 30 June 2022 52,770 3,082,928 3,135,698

Changes in equity
Dividends - (360,000 ) (360,000 )
Total comprehensive income - 412,466 412,466
Balance at 30 June 2023 52,770 3,135,394 3,188,164

Heaver Group Holdings Ltd (Registered number: 12891092)

Consolidated Cash Flow Statement
for the Year Ended 30 June 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 673,005 1,904,800
Tax paid (56,126 ) (93,092 )
Net cash from operating activities 616,879 1,811,708

Cash flows from investing activities
Purchase of tangible fixed assets (480,913 ) (145,457 )
Sale of tangible fixed assets 1,617 1
Decrease in investment 6,189 (5,012 )
Interest received 30,453 918
Net cash from investing activities (442,654 ) (149,550 )

Cash flows from financing activities
Amount introduced by directors - 80,000
Amount withdrawn by directors (95,944 ) (91,185 )
Equity dividends paid (360,000 ) (195,219 )
Net cash from financing activities (455,944 ) (206,404 )

(Decrease)/increase in cash and cash equivalents (281,719 ) 1,455,754
Cash and cash equivalents at
beginning of year

2

5,009,569

3,553,815

Cash and cash equivalents at end
of year

2

4,727,850

5,009,569

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 June 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 1,084,859 976,329
Depreciation charges 152,563 118,285
Profit on disposal of fixed assets (1,442 ) -
Finance income (30,453 ) (918 )
1,205,527 1,093,696
Decrease/(increase) in stocks 712 (11,741 )
Increase in trade and other debtors (86,737 ) (92,032 )
(Decrease)/increase in trade and other creditors (446,497 ) 914,877
Cash generated from operations 673,005 1,904,800

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 4,727,850 5,009,569
Year ended 30 June 2022
30.6.22 1.7.21
£    £   
Cash and cash equivalents 5,009,569 3,553,815


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 5,009,569 (281,719 ) 4,727,850
5,009,569 (281,719 ) 4,727,850

Liquid resources
Current asset investments 596,389 (6,189 ) 590,200
596,389 (6,189 ) 590,200
Total 5,605,958 (287,908 ) 5,318,050

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Heaver Group Holdings Ltd 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Basis of consolidation
The group financial statements consolidate the financial statements of Heaver Group Holdings Limited and its subsidiary undertakings drawn up to 30 June each year. Subsidiaries are consolidated from the date of their acquisition, being the date on which the Group obtains control and continue to be consolidated until the date that such control ceases. Control comprises the power to govern the financial and operating policies of the investee so as to obtain benefit from its activities.

All other subsidiary undertakings have been excluded from consolidation on the basis of having an immaterial impact to the group consolidated financial statements.

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 and not provided
Plant and machinery - 15% on cost, 10% on cost and Monthly over a 12 month period
Fixtures and fittings - 15% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% 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.


Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

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.

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 group operates a defined contribution pension scheme. Contributions payable to the group'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.

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

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.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2023 2022
£    £   
United Kingdom 5,119,959 4,245,109
Europe 235,246 179,261
5,355,205 4,424,370

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

4. EMPLOYEES AND DIRECTORS

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
Farm employees 2 2

81 78

The number of directors to whom retirement benefits were accruing was as follows;

Defined contribution schemes 2023 - 2 (2022 - 2).

2023 2022
£    £   
Directors' remuneration 100,824 84,632
Directors' pension contributions to money purchase schemes 50,000 50,000

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Other operating leases 12,996 12,996
Depreciation - owned assets 152,564 118,287
Profit on disposal of fixed assets (1,442 ) -
Foreign exchange differences (1,963 ) (2,987 )
Audit fees 2,700 5,500

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

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 62,470 65,798

Deferred tax 97,306 2,463
Tax on profit 159,776 68,261

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 1,084,859 976,329
Profit multiplied by the standard rate of corporation tax in the
UK of 19 % (2022 - 19 %)

206,123

185,503

Effects of:
Expenses not deductible for tax purposes 213 5,067
Income not taxable for tax purposes (274 ) -
Capital allowances in excess of depreciation (66,805 ) (2,482 )
Deferred tax 97,307 (2,463 )
Research & development (74,252 ) (109,123 )
Group Relief 1,872 (8,241 )
Change of tax rate 5,268 -
Adjustments to tax charge in respect of previous periods (9,676 ) -
Total tax charge 159,776 68,261

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS

30/6/23 30/6/22
£ £
52,770 shares of £1 each
Final 360,000 195,219

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

9. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2022 1,619,427 129,931 177,706
Additions - 2,100 58,238
Disposals - (3,643 ) (51,002 )
At 30 June 2023 1,619,427 128,388 184,942
DEPRECIATION
At 1 July 2022 128,840 74,942 117,223
Charge for year 23,205 11,955 11,491
Eliminated on disposal - (15,522 ) (38,947 )
At 30 June 2023 152,045 71,375 89,767
NET BOOK VALUE
At 30 June 2023 1,467,382 57,013 95,175
At 30 June 2022 1,490,587 54,989 60,483

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 68,886 564,185 2,560,135
Additions 259,447 161,128 480,913
Disposals - (292,223 ) (346,868 )
At 30 June 2023 328,333 433,090 2,694,180
DEPRECIATION
At 1 July 2022 18,960 434,919 774,884
Charge for year 27,194 78,719 152,564
Eliminated on disposal - (292,224 ) (346,693 )
At 30 June 2023 46,154 221,414 580,755
NET BOOK VALUE
At 30 June 2023 282,179 211,676 2,113,425
At 30 June 2022 49,926 129,266 1,785,251

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

10. FIXED ASSET INVESTMENTS

Group
Shares in
profile Q
£   
COST
At 1 July 2022
and 30 June 2023 42,780
PROVISIONS
At 1 July 2022
and 30 June 2023 41,770
NET BOOK VALUE
At 30 June 2023 1,010
At 30 June 2022 1,010
Company
Shares in
group
undertakings
£   
COST
At 1 July 2022
and 30 June 2023 52,870
NET BOOK VALUE
At 30 June 2023 52,870
At 30 June 2022 52,870

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Streets Heaver Computer Systems Ltd
Registered office: The Point Weaver Road LINCOLN LN6 3QN
Nature of business: Computer software
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 4,111,236 3,537,215
Profit for the year 974,021 975,605

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

10. FIXED ASSET INVESTMENTS - continued

Church Farm Swayfield Ltd
Registered office: The Point Weaver Road LINCOLN LN6 3QN
Nature of business: Farming
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves (155,552 ) (94,148 )
Loss for the year (61,404 ) (66,438 )


11. STOCKS

Group
2023 2022
£    £   
Stocks 11,029 11,741

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 790,976 745,040 - -
Bad debt provision (21,500 ) (14,468 ) - -
Amounts owed by group undertakings - - 1,205,152 3,152,152
Other debtors 15,490 16,928 - -
Prepayments and accrued income 139,269 89,998 - -
924,235 837,498 1,205,152 3,152,152

13. CURRENT ASSET INVESTMENTS

Group
2023 2022
£    £   
Listed investments 590,200 596,389

Market value of listed investments held by the group at 30 June 2023 - £590,200 (2022 - £596,389).

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade creditors 92,469 94,098 - 62
Other creditors 62 - - -
Tax 72,142 65,798 - -
Social security and other taxes 74,831 71,519 - -
Pension control 16,887 15,002 - -
VAT 167,153 228,195 - -
Amounts owed to Profile Q 1,000 1,000 - -
Directors' current accounts 407 96,351 - 90,000
Accruals and deferred income 710,064 1,099,151 2,400 500
1,135,015 1,671,114 2,400 90,562

15. PROVISIONS FOR LIABILITIES

Group
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

Group
Deferred
tax
£   
Balance at 1 July 2022 44,449
Accelerated capital allowances 83,270
Tax rate adjustment 14,037
Balance at 30 June 2023 141,756

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2023

16. CALLED UP SHARE CAPITAL

Allocated, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
40,270 Ordinary A £1 40,270 40,270
5,000 Ordinary B £1 5,000 5,000
45,270 45,270

Allocated and issued:
Number: Class: Nominal 2023 2022
value: £    £   
2,500 Ordinary C £1 2,500 2,500
2,500 Ordinary D £1 2,500 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 aspects.

17. RESERVES

Group
Retained
earnings
£   

At 1 July 2022 6,473,125
Profit for the year 925,083
Dividends (360,000 )
At 30 June 2023 7,038,208