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REGISTERED NUMBER: 10654839 (England and Wales)










Heywood And Heywood Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Heywood And Heywood Limited (Registered number: 10654839)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Heywood And Heywood Limited

Company Information
for the year ended 31 March 2024







DIRECTOR: Mrs S Heywood





SECRETARY: Mr L Heywood





REGISTERED OFFICE: Williams House
Conway Road
Mochdre
Colwyn Bay
Conwy
LL28 5HE





REGISTERED NUMBER: 10654839 (England and Wales)





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

Heywood And Heywood Limited (Registered number: 10654839)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 657,758 466,189

CURRENT ASSETS
Stocks 26,075 21,667
Debtors 5 36,969 92,968
Cash at bank 67,392 202,905
130,436 317,540
CREDITORS
Amounts falling due within one year 6 492,086 535,441
NET CURRENT LIABILITIES (361,650 ) (217,901 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

296,108

248,288

CREDITORS
Amounts falling due after more than one
year

7

501,802

353,301
NET LIABILITIES (205,694 ) (105,013 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (205,696 ) (105,015 )
SHAREHOLDERS' FUNDS (205,694 ) (105,013 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 3 December 2024 and were signed by:





Mrs S Heywood - Director


Heywood And Heywood Limited (Registered number: 10654839)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Heywood And Heywood 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.
Land and buildings - 20% on reducing balance
Plant and machinery etc - 33% on reducing balance, 20% on reducing balance and 15% on reducing balance

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.

Creditors
Short term trade creditors are measure at the transaction price. Other financial liabilities including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 30 ) .

Heywood And Heywood Limited (Registered number: 10654839)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 23,581 545,648 569,229
Additions - 304,472 304,472
At 31 March 2024 23,581 850,120 873,701
DEPRECIATION
At 1 April 2023 13,869 89,171 103,040
Charge for year 2,359 110,544 112,903
At 31 March 2024 16,228 199,715 215,943
NET BOOK VALUE
At 31 March 2024 7,353 650,405 657,758
At 31 March 2023 9,712 456,477 466,189

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,356 28,157
Other debtors 29,613 64,811
36,969 92,968

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 321,636 361,770
Hire purchase contracts 45,721 -
Trade creditors 101,632 153,478
Taxation and social security 14,482 11,578
Other creditors 8,615 8,615
492,086 535,441

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 330,324 353,301
Hire purchase contracts 171,478 -
501,802 353,301

8. ULTIMATE CONTROLLING PARTY

Ultimate control lies with the director, who owns the issued share capital in its entirety.