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COMPANY REGISTRATION NUMBER: 09870392
Heath Ballard Ltd
Filleted Unaudited Financial Statements
31 October 2023
Heath Ballard Ltd
Financial Statements
Year ended 31 October 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Heath Ballard Ltd
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
Current assets
Stocks
36,000
Debtors
5
206,370
213,033
---------
---------
206,370
249,033
Creditors: amounts falling due within one year
6
1,719,610
1,714,166
------------
------------
Net current liabilities
1,513,240
1,465,133
------------
------------
Total assets less current liabilities
( 1,513,240)
( 1,465,133)
Creditors: amounts falling due after more than one year
7
27,307
39,260
------------
------------
Net liabilities
( 1,540,547)
( 1,504,393)
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 1,540,647)
( 1,504,493)
------------
------------
Shareholders deficit
( 1,540,547)
( 1,504,393)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 2 September 2024 , and are signed on behalf of the board by:
Mr S J C Hill
Director
Company registration number: 09870392
Heath Ballard Ltd
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bedford House Fulham Green, 69-79 Fulham High Street, London, SW6 3JW, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the group and director.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1).
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
206,266
212,929
Other debtors
104
104
---------
---------
206,370
213,033
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
7,521
7,472
Trade creditors
5,905
5,905
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,706,119
1,700,724
Other creditors
65
65
------------
------------
1,719,610
1,714,166
------------
------------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
27,307
39,260
--------
--------
Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.
8. Controlling party
The ultimate parent company is London Place Group Limited , a company registered in England & Wales. The registered address of the ultimate controlling party is: Bedford House Fulham Green, 69-79 Fulham High Street, London, United Kingdom, SW6 3JW .