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Registered number: 04187988
Heathercroft Training Services Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Watson Knipe Ltd
10 Milton Court
Ravenshead
Nottingham
Nottinghamshire
NG15 9BD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04187988
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 76,986 90,686
Tangible Assets 5 6,805 7,628
83,791 98,314
CURRENT ASSETS
Debtors 6 478,680 409,921
Cash at bank and in hand 35,722 17,695
514,402 427,616
Creditors: Amounts Falling Due Within One Year 7 (271,183 ) (266,641 )
NET CURRENT ASSETS (LIABILITIES) 243,219 160,975
TOTAL ASSETS LESS CURRENT LIABILITIES 327,010 259,289
NET ASSETS 327,010 259,289
CAPITAL AND RESERVES
Called up share capital 8 303,000 303,000
Share premium account 240,000 240,000
Profit and Loss Account (215,990 ) (283,711 )
SHAREHOLDERS' FUNDS 327,010 259,289
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Luke Whiting
Director
08/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Heathercroft Training Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04187988 . The registered office is 142 Whitley Road, Eastbourne, East Sussex, BN22 8LT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
3. Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2022: 21)
22 21
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 750,000
As at 31 December 2023 750,000
Amortisation
As at 1 January 2023 659,314
Provided during the period 13,700
As at 31 December 2023 673,014
Net Book Value
As at 31 December 2023 76,986
As at 1 January 2023 90,686
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Page 4
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 - 24,717 68,226 92,943
Additions 833 - - 833
As at 31 December 2023 833 24,717 68,226 93,776
Depreciation
As at 1 January 2023 - 19,327 65,988 85,315
Provided during the period 208 808 640 1,656
As at 31 December 2023 208 20,135 66,628 86,971
Net Book Value
As at 31 December 2023 625 4,582 1,598 6,805
As at 1 January 2023 - 5,390 2,238 7,628
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 31,901 4,579
Prepayments and accrued income 3,334 4,930
Other debtors 443,445 400,412
478,680 409,921
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 54,167 46,075
Bank loans and overdrafts 114,332 129,317
Other taxes and social security 31,921 16,945
VAT 5,282 3,982
Other creditors 62,746 67,878
Accruals and deferred income 2,735 2,444
271,183 266,641
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 303,000 303,000
Page 4