Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31truefalsefalse22023-04-0156101 - Licensed restaurants26trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09614422 2023-04-01 2024-03-31 09614422 2022-04-01 2023-03-31 09614422 2024-03-31 09614422 2023-03-31 09614422 c:Director1 2023-04-01 2024-03-31 09614422 d:PlantMachinery 2023-04-01 2024-03-31 09614422 d:PlantMachinery 2024-03-31 09614422 d:PlantMachinery 2023-03-31 09614422 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09614422 d:FurnitureFittings 2023-04-01 2024-03-31 09614422 d:FurnitureFittings 2024-03-31 09614422 d:FurnitureFittings 2023-03-31 09614422 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09614422 d:ComputerEquipment 2023-04-01 2024-03-31 09614422 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 09614422 d:OtherPropertyPlantEquipment 2024-03-31 09614422 d:OtherPropertyPlantEquipment 2023-03-31 09614422 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09614422 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09614422 d:CurrentFinancialInstruments 2024-03-31 09614422 d:CurrentFinancialInstruments 2023-03-31 09614422 d:Non-currentFinancialInstruments 2024-03-31 09614422 d:Non-currentFinancialInstruments 2023-03-31 09614422 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09614422 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09614422 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 09614422 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09614422 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 09614422 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 09614422 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 09614422 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 09614422 d:ShareCapital 2024-03-31 09614422 d:ShareCapital 2023-03-31 09614422 d:SharePremium 2024-03-31 09614422 d:SharePremium 2023-03-31 09614422 d:RetainedEarningsAccumulatedLosses 2024-03-31 09614422 d:RetainedEarningsAccumulatedLosses 2023-03-31 09614422 c:FRS102 2023-04-01 2024-03-31 09614422 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09614422 c:FullAccounts 2023-04-01 2024-03-31 09614422 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09614422 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 09614422


HEADLAND VENTURES LTD








UNAUDITED

PAGES FOR FILING WITH REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
HEADLAND VENTURES LTD
REGISTERED NUMBER: 09614422

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
60,676
5,916

  
60,676
5,916

Current assets
  

Stocks
  
20,427
-

Debtors: amounts falling due within one year
 5 
260,716
-

  
281,143
-

Creditors: amounts falling due within one year
 7 
(992,864)
(523,946)

Net current liabilities
  
 
 
(711,721)
 
 
(523,946)

Total assets less current liabilities
  
(651,045)
(518,030)

Creditors: amounts falling due after more than one year
 8 
(37,307)
(40,500)

  

Net liabilities
  
(688,352)
(558,530)


Capital and reserves
  

Called up share capital 
  
22,459
22,459

Share premium account
  
193,234
193,234

Profit and loss account
  
(904,045)
(774,223)

  
(688,352)
(558,530)


Page 1

 
HEADLAND VENTURES LTD
REGISTERED NUMBER: 09614422
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


................................................
Phillip Cameron
Director

Date: 10 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
HEADLAND VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company is a private limited company which is incorporated and domiciled in the UK. The address of its principal place of business is 1 Vincent Square, London, England, SW1P 2PN. The principal activity of the company is mobile food stands.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
HEADLAND VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
straight line
Plant and machinery
-
20%
straight line
Other fixed assets
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
HEADLAND VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 26 (2023 - 2).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 April 2023
31,466
6,557
-
38,023


Additions
7,252
9,517
51,651
68,420


Disposals
(1,201)
(2,166)
-
(3,367)



At 31 March 2024

37,517
13,908
51,651
103,076



Depreciation


At 1 April 2023
28,456
3,651
-
32,107


Charge for the year on owned assets
2,063
2,410
5,820
10,293



At 31 March 2024

30,519
6,061
5,820
42,400



Net book value



At 31 March 2024
6,998
7,847
45,831
60,676



At 31 March 2023
3,010
2,906
-
5,916

Page 5

 
HEADLAND VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
240,902
-

Other debtors
16,151
-

Prepayments and accrued income
3,663
-

260,716
-



6.


Cash and cash equivalents

2024
2023
£
£

Less: bank overdrafts
(8,461)
(8,689)

(8,461)
(8,689)



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
8,461
8,689

Bank loans
7,292
7,292

Trade creditors
96,961
43,480

Other taxation and social security
534,701
86,589

Other creditors
329,459
367,596

Accruals and deferred income
15,990
10,300

992,864
523,946



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
37,307
40,500

37,307
40,500




Page 6

 
HEADLAND VENTURES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
7,292
7,292


7,292
7,292


Amounts falling due 2-5 years

Bank loans
36,460
36,460


36,460
36,460

Amounts falling due after more than 5 years

Bank loans
847
4,041

847
4,041

44,599
47,793



10.


Related party transactions

As at the balance sheet date the company owed P Cameron £289,469 (2023: £254,691).  


11.


Controlling party

The ultimate controlling party was Mr P. Cameron by way of their majority shareholding

 
Page 7