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REGISTERED NUMBER: 00777343 (England and Wales)










E A Heath (Rag & Woollen) Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






E A Heath (Rag & Woollen) Limited (Registered number: 00777343)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


E A Heath (Rag & Woollen) Limited

Company Information
for the year ended 29 February 2024







DIRECTORS: Mrs D Hand
Mr J C Hand





REGISTERED OFFICE: Unit 6, Fenpark Industrial Estate
Park Lane
Stoke-On-Trent
Staffordshire
ST4 3JP





REGISTERED NUMBER: 00777343 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

E A Heath (Rag & Woollen) Limited (Registered number: 00777343)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 123,486 135,667

CURRENT ASSETS
Stocks 53,000 18,000
Debtors 5 488,541 548,981
Cash at bank and in hand 190,692 134,953
732,233 701,934
CREDITORS
Amounts falling due within one year 6 127,300 125,425
NET CURRENT ASSETS 604,933 576,509
TOTAL ASSETS LESS CURRENT
LIABILITIES

728,419

712,176

PROVISIONS FOR LIABILITIES 9,069 11,352
NET ASSETS 719,350 700,824

CAPITAL AND RESERVES
Called up share capital 1,200 1,200
Retained earnings 718,150 699,624
SHAREHOLDERS' FUNDS 719,350 700,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 14 November 2024 and were signed on its behalf by:





Mr J C Hand - Director


E A Heath (Rag & Woollen) Limited (Registered number: 00777343)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

E A Heath (Rag & Woollen) Limited is a private company, limited by shares , registered in England and Wales. 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, as follows:

Plant and machinery - 10% reducing balance
Fixtures, fittings and equipment - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer and electrical - 25% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

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 5 (2023 - 5 ) .

E A Heath (Rag & Woollen) Limited (Registered number: 00777343)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 75,000 156,952 231,952
Additions - 753 753
Disposals - (741 ) (741 )
At 29 February 2024 75,000 156,964 231,964
DEPRECIATION
At 1 March 2023 - 96,285 96,285
Charge for year - 12,934 12,934
Eliminated on disposal - (741 ) (741 )
At 29 February 2024 - 108,478 108,478
NET BOOK VALUE
At 29 February 2024 75,000 48,486 123,486
At 28 February 2023 75,000 60,667 135,667

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,000 102,000
Amounts owed by group undertakings 470,960 442,960
Other debtors 5,581 4,021
488,541 548,981

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 122,244 120,369
Other creditors 5,056 5,056
127,300 125,425

7. RELATED PARTY DISCLOSURES

During the year the company paid a dividend of £20,000 (2023 - £20,000) to it's parent company, Recycling Wales Limited.

During the year the company made a loan of £13,000 (2023 - £5,000) to Shot-Blast Stoke Ltd, a company that is owned by the directors. At the year end £41,148 (2023 - £28,148) was outstanding.

8. ULTIMATE CONTROLLING PARTY

The ultimate control lies with the directors, Mr John Hand and Mrs Dawn Hand, who own all the share capital of Recycling Wales Limited.