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REGISTERED NUMBER: 04542795 (England and Wales)















Financial Statements

for the Year Ended 30 November 2023

for

HEALEY & LORD LTD

HEALEY & LORD LTD (REGISTERED NUMBER: 04542795)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HEALEY & LORD LTD

Company Information
for the Year Ended 30 November 2023







DIRECTORS: G C S Gates
T P J Gates
G S Cox
D M Fiddy





SECRETARY: D M Fiddy





REGISTERED OFFICE: Vulcan Road South
Norwich
NR6 6AF





REGISTERED NUMBER: 04542795 (England and Wales)





AUDITORS: Rawse, Varley & Co
Statutory Auditor
Lloyds Bank Chambers
Hustlergate
Bradford
BD1 1UQ

HEALEY & LORD LTD (REGISTERED NUMBER: 04542795)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,029 42,049

CURRENT ASSETS
Stocks 5 912,030 778,620
Debtors 6 83,401 34,291
Cash at bank 170,832 185,231
1,166,263 998,142
CREDITORS
Amounts falling due within one year 7 415,092 358,833
NET CURRENT ASSETS 751,171 639,309
TOTAL ASSETS LESS CURRENT
LIABILITIES

778,200

681,358

PROVISIONS FOR LIABILITIES 6,210 9,844
NET ASSETS 771,990 671,514

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 770,990 670,514
SHAREHOLDERS' FUNDS 771,990 671,514

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 30 August 2024 and were signed on its behalf by:





G C S Gates - Director


HEALEY & LORD LTD (REGISTERED NUMBER: 04542795)

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


1. STATUTORY INFORMATION

Healey & Lord 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 represents amounts receivable for goods and services sold, less returns and allowances, excluding value added tax.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation.

Depreciation is calculated to write off the assets over their estimated useful lives at the following annual rates:

Fittings and office equipment-20% and 25% of cost
Hire equipment-20% to 30% of cost

Stock
Stock consists of goods held for resale. Cost is determined using the first in, first out (FIFO) principal.

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.

Pension contributions
Contributions payable to the group defined contribution pension scheme are charged to profit and loss account when incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

HEALEY & LORD LTD (REGISTERED NUMBER: 04542795)

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


4. TANGIBLE FIXED ASSETS
Plant,
equipment
and
vehicles
£   
COST
At 1 December 2022 199,962
Additions 3,007
At 30 November 2023 202,969
DEPRECIATION
At 1 December 2022 157,913
Charge for year 18,027
At 30 November 2023 175,940
NET BOOK VALUE
At 30 November 2023 27,029
At 30 November 2022 42,049

5. STOCKS

Stock consists of goods held for resale. Cost is determined using the first in, first out (FIFO) principal.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 57,346 21,752
Amounts owed by group undertakings 10,542 8,238
Prepayments and accrued income 15,513 4,301
83,401 34,291

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 199,760 247,735
Amounts owed to group undertakings 70,858 707
Corporation tax 33,290 21,561
Social security and other taxes 77,627 53,714
Accruals and deferred income 33,557 35,116
415,092 358,833

HEALEY & LORD LTD (REGISTERED NUMBER: 04542795)

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


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 7,242 -
Between one and five years 17,500 -
24,742 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary shares £1 1,000 1,000

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

The Report of the Auditors was unqualified.

Philip Varley (Senior Statutory Auditor)
for and on behalf of Rawse, Varley & Co

11. CONTINGENT LIABILITIES AND GUARANTEES

The company is party to an unlimited composite cross guarantee to its bankers securing the borrowings of group companies. There were no such borrowings at 30 November 2023 - 2022: none. Overall the group's cash at bank amounted to £14,915,249 - 2022: £12,806,960.

The company is contingently liable under a group registration scheme for VAT liabilities of group companies. At 30 November 2023 such liabilities amounted to £405,103 - 2022: £374,657.

The above arrangements are not expected to have any financial effect on the company.

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', from disclosing related party transactions with wholly owned subsidiaries within the group.

13. ULTIMATE CONTROLLING PARTY

The controlling party is MAG Group Limited.

The ultimate controlling party is G C S Gates.

The registered office of MAG Group Limited is Vulcan Road South, Norwich NR6 6AF.

14. BANK SECURITY

Bank borrowings are secured by a debenture over the company's assets. There were no such bank borrowings at 30 November 2023 - 2022: none.