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REGISTERED NUMBER: SC468306 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Heartwood Installations Ltd

Heartwood Installations Ltd (Registered number: SC468306)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 6

Heartwood Installations Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mrs Jacqueline Kane
Mr John Michael Kane





REGISTERED OFFICE: 2nd Floor
22-24 Blythswood Square
Glasgow
G2 4BG





REGISTERED NUMBER: SC468306 (Scotland)





ACCOUNTANTS: Wallace White Accountants
2nd Floor
22-24 Blythswood Square
Glasgow
G2 4BG

Heartwood Installations Ltd (Registered number: SC468306)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,168 27,614

CURRENT ASSETS
Debtors 5 80,015 145,305
Cash at bank 14,606 4,674
94,621 149,979
CREDITORS
Amounts falling due within one year 6 54,057 70,969
NET CURRENT ASSETS 40,564 79,010
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,732

106,624

CREDITORS
Amounts falling due after more than one
year

7

(20,277

)

(29,200

)

PROVISIONS FOR LIABILITIES (2,882 ) (5,247 )
NET ASSETS 32,573 72,177

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 32,569 72,173
SHAREHOLDERS' FUNDS 32,573 72,177

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Heartwood Installations Ltd (Registered number: SC468306)

Balance Sheet - continued
31 January 2024


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 Board of Directors and authorised for issue on 31 May 2024 and were signed on its behalf by:





Mr John Michael Kane - Director


Heartwood Installations Ltd (Registered number: SC468306)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Heartwood Installations Ltd is a private company, limited by shares , registered in Scotland. 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.

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.
Plant and machinery etc - 33% on cost and 25% on cost

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
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Heartwood Installations Ltd (Registered number: SC468306)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 48,533
DEPRECIATION
At 1 February 2023 20,919
Charge for year 12,446
At 31 January 2024 33,365
NET BOOK VALUE
At 31 January 2024 15,168
At 31 January 2023 27,614

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 80,015 145,305

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,800 10,800
Trade creditors 21,707 27,918
Taxation and social security 19,864 30,756
Other creditors 1,686 1,495
54,057 70,969

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 20,277 29,200

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 31,077 40,000

The bank loan is secured by a government backed guarantee.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is an amount due to the directors of £696 (2023: £505).

Heartwood Installations Ltd

Report of the Accountants to the Directors of
Heartwood Installations 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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 January 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Wallace White Accountants
2nd Floor
22-24 Blythswood Square
Glasgow
G2 4BG


31 May 2024