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REGISTERED NUMBER: 13520751 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Heath Street Investment Ltd

Heath Street Investment Ltd (Registered number: 13520751)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Heath Street Investment Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: G R Ziser





REGISTERED OFFICE: Unit 9
First Floor, Hampstead West
224 Iverson Road
West Hampstead
London
NW6 2HL





REGISTERED NUMBER: 13520751 (England and Wales)





ACCOUNTANTS: Newmans
Chartered Certified Accountants
DVS House
Suite 1, First Floor
4 Spring Villa Road
Edgware
Middlesex
HA8 7EB

Heath Street Investment Ltd (Registered number: 13520751)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,610,000 1,610,000

CURRENT ASSETS
Debtors 5 67,931 73,443
Cash at bank 2,340 1,516
70,271 74,959
CREDITORS
Amounts falling due within one year 6 808,000 790,981
NET CURRENT LIABILITIES (737,729 ) (716,022 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

872,271

893,978

CREDITORS
Amounts falling due after more than one year 7 927,514 927,255
NET LIABILITIES (55,243 ) (33,277 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (55,244 ) (33,278 )
SHAREHOLDERS' FUNDS (55,243 ) (33,277 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Heath Street Investment Ltd (Registered number: 13520751)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 7 August 2024 and were signed by:





G R Ziser - Director


Heath Street Investment Ltd (Registered number: 13520751)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Heath Street Investment 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 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Heath Street Investment Ltd (Registered number: 13520751)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2023
and 31 March 2024 1,610,000
NET BOOK VALUE
At 31 March 2024 1,610,000
At 31 March 2023 1,610,000

The leasehold property was valued on an existing use open market value basis by Colliers International UK LLP, chartered surveyors on 18 August 2021. In the opinion of the director the market value of the property at 31 March 2024 is represented by the net book value above.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed by associates 67,881 67,881
Other debtors 50 5,562
67,931 73,443

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 8) - 150
Trade creditors 2,965 96
Amounts owed to group undertakings 802,468 -
Amounts owed to associates - 777,468
Other creditors 2,567 13,267
808,000 790,981

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 8) 927,514 927,255

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 year by installments 927,514 927,255

Heath Street Investment Ltd (Registered number: 13520751)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans - 150

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 year by installments 927,514 927,255

The bank loan is secured by a fixed and floating charge and negative pledge over the investment property of the company.

9. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

The company is party to cross - guarantee in respect of a loan placed with themselves and other associated companies. The loan is secured by a fixed and floating charge and negative pledge over the investment property recorded in fixed assets. The aggregate loan balance at the period end was £34,376,023 (2023 - £33,564,916).

10. GOING CONCERN

At the time of approving the financial statements,the director has reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. The ability to continue as a going concern is based on resources and funding provided by connected companies. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.