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REGISTERED NUMBER: 10104483 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Heaven Apparel Limited

Heaven Apparel Limited (Registered number: 10104483)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Heaven Apparel Limited (Registered number: 10104483)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 3,566 4,104
Investments 5 89 89
3,655 4,193

Current assets
Stocks 25,684 19,923
Debtors 6 47,712 37,230
Cash at bank and in hand 50,228 51,642
123,624 108,795
Creditors: amounts falling due within
one year

7

103,867

80,744
Net current assets 19,757 28,051
Total assets less current liabilities 23,412 32,244

Creditors: amounts falling due after
more than one year

8

(16,467

)

(26,675

)

Provisions for liabilities (919 ) (780 )
Net assets 6,026 4,789

Capital and reserves
Called up share capital 9 100 100
Retained earnings 5,926 4,689
Shareholders' funds 6,026 4,789

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 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.

Heaven Apparel Limited (Registered number: 10104483)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2024 and were signed by:





S V Lomond - Director


Heaven Apparel Limited (Registered number: 10104483)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. Statutory information

Heaven Apparel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10104483

Registered office: 85 Church Road
Hove
East Sussex
BN3 2BB

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).
These accounts are not directly comparable as the comparative figures cover a period of 8 months therefore are not entirely comparable.

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 and represents amounts receivable for goods supplied, stated net of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% reducing balance
Computer equipment - 15% reducing balance
Short leasehold - 4 years straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Heaven Apparel Limited (Registered number: 10104483)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 4 (2022 - 5 ) .

Heaven Apparel Limited (Registered number: 10104483)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 January 2023 742 7,059 7,801
Additions - 83 83
At 31 December 2023 742 7,142 7,884
Depreciation
At 1 January 2023 127 3,570 3,697
Charge for year 92 529 621
At 31 December 2023 219 4,099 4,318
Net book value
At 31 December 2023 523 3,043 3,566
At 31 December 2022 615 3,489 4,104

5. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 January 2023
and 31 December 2023 89
Net book value
At 31 December 2023 89
At 31 December 2022 89

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 19,187 16,722
Other debtors 28,525 20,508
47,712 37,230

Heaven Apparel Limited (Registered number: 10104483)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 25,332 9,208
Trade creditors 40,530 30,526
Amounts owed to group undertakings 21,923 19,191
Taxation and social security 9,590 10,962
Other creditors 6,492 10,857
103,867 80,744

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 16,467 26,675

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

10. Other financial commitments

On 31 December 2023 the company had operating lease commitments of £79,625 (December 2022: £104,125).

11. Director's advances, credits and guarantees

During the year advances of £26,000 and credits of £2,029 were made for a director with repayments being received of £12,640 resulting in and amount owed to the company on 31 December 2023 of £26,045 included within debtors (December 2022: £10,657). These advances were made interest free and with no set repayment terms.