Company registration number 01264049 (England and Wales)
HEATHLINE COMMERCIALS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
HEATHLINE COMMERCIALS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
HEATHLINE COMMERCIALS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
104,019
89,688
Current assets
Stocks
54,769
63,792
Debtors
5
297,824
300,483
Cash at bank and in hand
260,264
196,862
612,857
561,137
Creditors: amounts falling due within one year
6
(375,971)
(349,656)
Net current assets
236,886
211,481
Total assets less current liabilities
340,905
301,169
Provisions for liabilities
(26,006)
(22,110)
Net assets
314,899
279,059
Capital and reserves
Called up share capital
1,100
1,100
Profit and loss reserves
313,799
277,959
Total equity
314,899
279,059
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered 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 31 July 2024 and are signed on its behalf by:
CJ Crawford
Director
Company registration number 01264049 (England and Wales)
HEATHLINE COMMERCIALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Heathline Commercials Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, Bolam Bussiness Park, Bassington Industrial Estate, Cramlington, Northumberland, NE23 8AL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
33% straight line
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20-33% straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
HEATHLINE COMMERCIALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and deposits held at call with banks.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
13
13
HEATHLINE COMMERCIALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Intangible fixed assets
Software
£
Cost
At 1 April 2023 and 31 March 2024
6,603
Amortisation and impairment
At 1 April 2023 and 31 March 2024
6,603
Carrying amount
At 31 March 2024
At 31 March 2023
4
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
129,744
38,582
168,326
Additions
41,900
41,900
Disposals
(7,615)
(7,615)
At 31 March 2024
164,029
38,582
202,611
Depreciation and impairment
At 1 April 2023
53,791
24,847
78,638
Depreciation charged in the year
23,058
3,185
26,243
Eliminated in respect of disposals
(6,289)
(6,289)
At 31 March 2024
70,560
28,032
98,592
Carrying amount
At 31 March 2024
93,469
10,550
104,019
At 31 March 2023
75,953
13,735
89,688
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
227,141
197,249
Amounts owed by group undertakings
48,796
86,762
Other debtors
21,887
16,472
297,824
300,483
HEATHLINE COMMERCIALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
145,715
162,008
Amounts owed to group undertakings
67,909
61,665
Taxation and social security
83,266
61,355
Other creditors
79,081
64,628
375,971
349,656
7
Parent company
The ultimate parent company is Bolam Group Limited, a company registered in England and Wales, due to its ownership of the entire share capital of the company. The registered office is Unit 1 Bolam Business Park, Bassington Drive, Cramlington, Northumberland, NE23 8AL.
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Nicholas Cunningham FCCA
Statutory Auditor:
Robson Laidler Accountants Limited
Date of audit report:
6 August 2024