Registered number
01994218
Headline Filters Limited
Filleted Accounts
30 June 2024
Applied Accountancy Limited
Headline Filters Limited
Registered number: 01994218
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,267,608 1,397,587
Current assets
Stocks 543,791 449,377
Debtors 4 806,632 851,867
Cash at bank and in hand 2,015,827 2,324,755
3,366,250 3,625,999
Creditors: amounts falling due within one year 5 (1,888,882) (2,618,674)
Net current assets 1,477,368 1,007,325
Total assets less current liabilities 2,744,976 2,404,912
Creditors: amounts falling due after more than one year 6 (297,528) (245,306)
Deferred Taxation (211,556) (240,778)
Net assets 2,235,892 1,918,828
Capital and reserves
Called up share capital 30,000 30,000
Profit and loss account 2,205,892 1,888,828
Shareholders' funds 2,235,892 1,918,828
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Brian Head
Director
Approved by the board on 6 November 2024
Headline Filters Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006..

The presentation currency is £ sterling.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Revenue represents the sale of goods. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at annual rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 15% on cost
Fixtures, fittings, tools and equipment 15% - 25% on cost
Motor Vehicles 25% on cost
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currencies
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leasing and hire purchase contracts
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Provision for repair or replacement of goods under guarantee
Provision is made for the cost of repair or replacement of goods sold during the year but remaining under guarantee at the Balance Sheet date.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 33 34
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 141,294 3,622,667 369,738 4,133,699
Additions - 292,105 75,478 367,583
Disposals - (219,225) (18,332) (237,557)
At 30 June 2024 141,294 3,695,547 426,884 4,263,725
Depreciation
At 1 July 2023 47,831 2,362,717 325,564 2,736,112
Charge for the year 5,390 392,016 55,594 453,000
On disposals - (174,663) (18,332) (192,995)
At 30 June 2024 53,221 2,580,070 362,826 2,996,117
Net book value
At 30 June 2024 88,073 1,115,477 64,058 1,267,608
At 30 June 2023 93,463 1,259,950 44,174 1,397,587
4 Debtors 2024 2023
£ £
Trade debtors 647,609 703,754
Other debtors 159,023 148,113
806,632 851,867
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 174,874 214,769
Trade creditors 296,511 353,452
Corporation tax 142,135 107,287
Other taxes and social security costs 156,440 126,361
Other creditors 1,118,922 1,816,805
1,888,882 2,618,674
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 297,528 245,306
The finance leases are secured on the assets concerned.
7 Capital commitments 2024 2023
£ £
Amounts contracted for but not provided in the accounts 738,504 315,948
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 9,347,604 443,962
The annual commitment is £97,050 on leases expiring in 2027 and £361,288 expiring in 2049.
9 Other information
Headline Filters Limited is a private company limited by shares and incorporated in England. Its registered office is:
Headline House
Mill Hall Business Estate
Aylesford
Maidstone
Kent, ME20 7JZ
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