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REGISTERED NUMBER: 01620062 (England and Wales)



































Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Heelman Limited

Heelman Limited (Registered number: 01620062)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Heelman Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: D P Cole
Mrs E J Cole





SECRETARY: Mrs E J Cole





REGISTERED OFFICE: Unit 17-18 Orleton Road
Ludlow Business Park
Ludlow
Shropshire
SY8 1XF





REGISTERED NUMBER: 01620062 (England and Wales)





ACCOUNTANTS: Thorne Widgery Accountancy Ltd
Chartered Accountants
2 Wyevale Business Park
Kings Acre
Hereford
Herefordshire
HR4 7BS

Heelman Limited (Registered number: 01620062)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 260,971 355,093
260,971 355,093

CURRENT ASSETS
Stocks 20,000 56,000
Debtors 6 985,880 582,977
Cash at bank and in hand 255,873 263,904
1,261,753 902,881
CREDITORS
Amounts falling due within one year 7 (685,362 ) (464,145 )
NET CURRENT ASSETS 576,391 438,736
TOTAL ASSETS LESS CURRENT LIABILITIES 837,362 793,829

CREDITORS
Amounts falling due after more than one
year

8

(163,761

)

(207,427

)

PROVISIONS FOR LIABILITIES (65,243 ) (67,466 )
NET ASSETS 608,358 518,936

CAPITAL AND RESERVES
Called up share capital 251 251
Capital redemption reserve 49 49
Retained earnings 608,058 518,636
608,358 518,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Heelman Limited (Registered number: 01620062)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2023 and were signed on its behalf by:




D P Cole - Director



Mrs E J Cole - Director


Heelman Limited (Registered number: 01620062)

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

1. STATUTORY INFORMATION

Heelman 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 0, is being amortised evenly over its estimated useful life of nil 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 33% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

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.

Heelman Limited (Registered number: 01620062)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 10,000
AMORTISATION
At 1 July 2022
and 30 June 2023 10,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2022 1,470,114 19,278 123,035 1,612,427
Additions 18,129 - - 18,129
At 30 June 2023 1,488,243 19,278 123,035 1,630,556
DEPRECIATION
At 1 July 2022 1,209,720 11,878 35,736 1,257,334
Charge for year 88,572 1,854 21,825 112,251
At 30 June 2023 1,298,292 13,732 57,561 1,369,585
NET BOOK VALUE
At 30 June 2023 189,951 5,546 65,474 260,971
At 30 June 2022 260,394 7,400 87,299 355,093

Heelman Limited (Registered number: 01620062)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 755,280 79,990 835,270
DEPRECIATION
At 1 July 2022 561,046 19,998 581,044
Charge for year 39,359 14,998 54,357
At 30 June 2023 600,405 34,996 635,401
NET BOOK VALUE
At 30 June 2023 154,875 44,994 199,869
At 30 June 2022 194,234 59,992 254,226

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 243,655 187,934
Other debtors 505 505
Loan to D&E for Motor Home 44,911 43,603
Cole Residential Properties 488,776 293,776
Directors' current accounts 194,844 49,395
Prepayments 13,189 7,764
985,880 582,977

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 395,374 179,902
Hire purchase contracts 48,524 124,284
Trade creditors 126,567 138,194
Tax 50,052 7,163
Social security and other taxes 5,403 86
Pensions payable 1,218 1,138
VAT 50,367 6,831
Directors' current accounts 156 233
Accruals and deferred income 7,701 6,314
685,362 464,145

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts 163,761 207,427

Heelman Limited (Registered number: 01620062)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
D P Cole
Balance outstanding at start of year 49,396 125,335
Amounts advanced 248,588 52,167
Amounts repaid (103,139 ) (128,106 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 194,845 49,396

Mrs E J Cole
Balance outstanding at start of year (233 ) 59,181
Amounts advanced 39,510 9,569
Amounts repaid (39,433 ) (68,983 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (156 ) (233 )

10. RELATED PARTY DISCLOSURES

During the year the company formally loaned the directors £44,911 (£43,603 2022) at 3% interest which is repayable on demand.


Cole Residential Properties Ltd
A company wholly owned by the directors.

During the year the company has lent £488,776 (£293,776 2022) to Cole Residential Properties Ltd at 0% interest p.a. which is repayable on demand.