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REGISTERED NUMBER: 01848816 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

HEATONS ENGINEERING LIMITED

HEATONS ENGINEERING LIMITED (REGISTERED NUMBER: 01848816)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


HEATONS ENGINEERING LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTOR: I P Dunne





REGISTERED OFFICE: 1 Brinwell Road
Marton
Blackpool
Lancashire
FY4 4QU





REGISTERED NUMBER: 01848816 (England and Wales)





AUDITORS: RFM Audit Services LLP, Statutory Auditor
Unit 1, Guest House Farm
Runshaw Lane
Euxton
Chorley
Lancashire
PR7 6HD

HEATONS ENGINEERING LIMITED (REGISTERED NUMBER: 01848816)

STATEMENT OF FINANCIAL POSITION
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 699,980 710,259

CURRENT ASSETS
Stocks 5 4,500 4,500
Debtors 6 1,175,838 1,260,291
Cash at bank and in hand 341,847 336,464
1,522,185 1,601,255
CREDITORS
Amounts falling due within one year 7 879,097 1,010,701
NET CURRENT ASSETS 643,088 590,554
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,343,068

1,300,813

PROVISIONS FOR LIABILITIES 9 32,167 46,217
NET ASSETS 1,310,901 1,254,596

CAPITAL AND RESERVES
Called up share capital 10 73 82
Capital redemption reserve 73 64
Retained earnings 1,310,755 1,254,450
SHAREHOLDERS' FUNDS 1,310,901 1,254,596

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 July 2024 and were signed by:





I P Dunne - Director


HEATONS ENGINEERING LIMITED (REGISTERED NUMBER: 01848816)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Heatons Engineering 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents amounts chargeable in respect of the invoiced sales of completed engineering work, net of value added tax. Sales of goods are recognised when the sale is made either at the point of sale or when the items are formally despatched to the customer or at an agreed percentage completion of the contract.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Depreciation rares are as follows:

Freehold land and buildings - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

STOCKS
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

HEATONS ENGINEERING LIMITED (REGISTERED NUMBER: 01848816)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions are charged in the profit and loss account as they become payable in accordance with the rules of the scheme.

EMPLOYEE BENEFIT TRUSTS
The company has created a trust whose beneficiaries will include employees of the company and their dependents. Assets held under this trust will be controlled by trustees who will be acting independently and entirely at their own discretion.

Where assets are held in trust and these are considered by the company to be in respect of services already provided by employees to the company, the company will account for these as assets of the trust when payment is made to the trust. The value transferred will be charged in the company's profit and loss account for the year to which it relates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 25 ) .

HEATONS ENGINEERING LIMITED (REGISTERED NUMBER: 01848816)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2022 600,000 296,259 89,833 165,842 1,151,934
Additions - 40,428 - 42,499 82,927
Disposals - - - (74,859 ) (74,859 )
At 31 October 2023 600,000 336,687 89,833 133,482 1,160,002
DEPRECIATION
At 1 November 2022 84,000 173,130 82,973 101,572 441,675
Charge for year 12,000 46,698 2,322 16,968 77,988
Eliminated on disposal - - - (59,641 ) (59,641 )
At 31 October 2023 96,000 219,828 85,295 58,899 460,022
NET BOOK VALUE
At 31 October 2023 504,000 116,859 4,538 74,583 699,980
At 31 October 2022 516,000 123,129 6,860 64,270 710,259


5. STOCKS
2023 2022
£    £   
Raw materials 3,500 3,500
Finished goods 1,000 1,000
4,500 4,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 841,793 717,345
Amounts recoverable on contracts 275,273 506,946
Other debtors 14,418 -
Directors' loan accounts 19,287 11,655
Prepayments and accrued income 25,067 24,345
1,175,838 1,260,291

HEATONS ENGINEERING LIMITED (REGISTERED NUMBER: 01848816)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 121,239 69,202
Payments on account 238,535 237,445
Trade creditors 311,364 561,036
Corporation tax 59,104 50,457
Social security and other taxes 97,601 70,040
Other creditors 2,669 4,896
Directors' current accounts 22,941 -
Directors' loan accounts - 2,402
Accruals and deferred income 25,644 15,223
879,097 1,010,701

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 121,239 69,202

Bank loans and overdrafts are secured by way of legal charges over the freehold property at Brinwell Road and a debenture over all assets of the company.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 32,167 46,217

Deferred
tax
£   
Balance at 1 November 2022 46,217
Provided during the year (14,050 )
Balance at 31 October 2023 32,167

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
73 Ordinary £1 73 82

During the previous year the company made a purchase of own shares for 14 ordinary shares owned by Mr T G Rowlands at £200,000.
Further purchases of own shares were made in the current year for 9 ordinary shares owned by Mr T G Rowlands for £125,000.

HEATONS ENGINEERING LIMITED (REGISTERED NUMBER: 01848816)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sarah Flynn FCA (Senior Statutory Auditor)
for and on behalf of RFM Audit Services LLP, Statutory Auditor

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - INTEREST FREE

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
T G Rowlands
Balance outstanding at start of year - (92 )
Amounts advanced - 92
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

I P Dunne
Balance outstanding at start of year 11,655 (6,448 )
Amounts advanced 19,287 18,103
Amounts repaid (34,596 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,654 ) 11,655