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REGISTERED NUMBER: NI615627 (Northern Ireland)















HEEB INVESTMENTS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023






HEEB INVESTMENTS LTD (REGISTERED NUMBER: NI615627)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


HEEB INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr H J Elkin
Mr E Bennett



SECRETARY: Mr H J Elkin



REGISTERED OFFICE: 24 Dromore Road Retail Park
Dromore Road
Omagh
Co. Tyrone
BT78 1RE



REGISTERED NUMBER: NI615627 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: AIB
2-4 East Bridge Street
Enniskillen
Co. Fermanagh
BT74 7BT

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HEEB INVESTMENTS LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 December 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


23 September 2024

HEEB INVESTMENTS LTD (REGISTERED NUMBER: NI615627)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 231 288
Investments 5 11,672 11,344
Investment property 6 455,000 455,000
466,903 466,632

CURRENT ASSETS
Cash at bank 66,178 64,015

CREDITORS
Amounts falling due within one year 7 22,503 18,878
NET CURRENT ASSETS 43,675 45,137
TOTAL ASSETS LESS CURRENT
LIABILITIES

510,578

511,769

PROVISIONS FOR LIABILITIES 58 55
NET ASSETS 510,520 511,714

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 378,281 378,281
Retained earnings 131,239 132,433
SHAREHOLDERS' FUNDS 510,520 511,714

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

HEEB INVESTMENTS LTD (REGISTERED NUMBER: NI615627)

BALANCE SHEET - continued
31 DECEMBER 2023


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 23 September 2024 and were signed on its behalf by:




Mr E Bennett - Director



Mr H J Elkin - Director


HEEB INVESTMENTS LTD (REGISTERED NUMBER: NI615627)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

HEEB Investments Ltd is a private company, limited by shares , registered in Northern Ireland. 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 as modified by the revaluation of certain assets.

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.
Fixtures and fittings - 20% on reducing balance

Investment property
Investment properties are included in the Balance Sheet at their open market value in accordance with Section 16 of FRS 102 Section 1A and are not depreciated.

Although this accounting policy is in accordance with the applicable accounting standard it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

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.


HEEB INVESTMENTS LTD (REGISTERED NUMBER: NI615627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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 (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023
and 31 December 2023 880
DEPRECIATION
At 1 January 2023 592
Charge for year 57
At 31 December 2023 649
NET BOOK VALUE
At 31 December 2023 231
At 31 December 2022 288

HEEB INVESTMENTS LTD (REGISTERED NUMBER: NI615627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023 11,344
Additions 337
Impairments (9 )
At 31 December 2023 11,672
NET BOOK VALUE
At 31 December 2023 11,672
At 31 December 2022 11,344

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 455,000
NET BOOK VALUE
At 31 December 2023 455,000
At 31 December 2022 455,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2014 (30,000 )
Valuation in 2022 72,720
Cost 412,280
455,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 412,280 412,280

HEEB INVESTMENTS LTD (REGISTERED NUMBER: NI615627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 3,114 3,977
Other creditors 19,389 14,901
22,503 18,878

8. RELATED PARTY DISCLOSURES

At the year end the company had a loan amounting to £18,400 from members of key management personnel (£14,000 at 01.01.2023).

There is no repayment date for this loan and interest is not currently being charged.

The loan is presented within creditors: amounts falling due within one year.