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REGISTERED NUMBER: 12891092 (England and Wales)













Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 30 June 2024

for

Heaver Group Holdings Ltd

Heaver Group Holdings Ltd (Registered number: 12891092)






Contents of the Consolidated Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow
Statement

16

Notes to the Consolidated Financial
Statements

18


Heaver Group Holdings Ltd

Company Information
for the year ended 30 June 2024







DIRECTORS: Mr P M Heaver
Mrs L G Heaver





REGISTERED OFFICE: The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN





REGISTERED NUMBER: 12891092 (England and Wales)





AUDITORS: Nicholsons Audit (Statutory Auditor)
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN

Heaver Group Holdings Ltd (Registered number: 12891092)

Group Strategic Report
for the year ended 30 June 2024

The directors present their strategic report of the company and the group for the year ended 30 June 2024.

Heaver Group Holdings Ltd is the holding company and owns 100% of the shares in Streets Heaver Computer Systems Ltd and Church Farm Swayfield Ltd. Group costs are recharged to the respective subsidiaries and its only other source of income is dividends received from subsidiaries.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks are the performance of subsidiaries. Streets Heaver Computer Systems traded strongly during the year with a net profit after tax of £1,135,720 and Church Farm Swayfield had a small loss due to a combination of poor market and weather conditions.

The group maintains a strong financial position with an absence of borrowing.

We have met the technological challenges through research and development and working closely with customers who share our enthusiasm for the constant improvement and scope of our products.

ON BEHALF OF THE BOARD:





Mr P M Heaver - Director


8 January 2025

Heaver Group Holdings Ltd (Registered number: 12891092)

Report of the Directors
for the year ended 30 June 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of Heaver Group Holdings Ltd - Holding company.
Streets Heaver Computer Systems Ltd - developing and selling computer software and related hardware for the health industry.
Church Farm Swayfield Ltd - Farming
Profile Q Limited - Dormant company

DIVIDENDS
The total distribution of dividends for the year ended 30 June 2024 will be £125,000.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

Mr P M Heaver
Mrs L G Heaver

FUTURE DEVELOPMENTS
Streets Heaver continues to focus on the development of our leading private hospital information system ("Compucare") widely used in many private hospitals/clinics as well as leading UK NHS Trusts. The breadth of our product continues to expand in scope and is now provided as a hosted solution from our NHS approved data centre or as Software as a Service from the Microsoft Cloud.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Heaver Group Holdings Ltd (Registered number: 12891092)

Report of the Directors
for the year ended 30 June 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mr P M Heaver - Director


8 January 2025

Report of the Independent Auditors to the Members of
Heaver Group Holdings Ltd

Opinion
We have audited the financial statements of Heaver Group Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Report of the Independent Auditors to the Members of
Heaver Group Holdings Ltd


Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Heaver Group Holdings Ltd


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities including fraud.

Based on our understanding of the company and its industry we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation, health and safety regulation, anti-money laundering regulation.

To help us identify instances of non-compliance with these laws and regulations and in identifying and assessing the risk of material misstatement in respect to non-compliance, our procedures included, but were not limited to:
- Inquiring of management and where appropriate those charge with governance as to whether the company is in compliance with laws and regulations.
- Inspecting correspondence, if any, with relevant licensing authorities.
- Communicating to our engagement team identified laws and regulations and remaining alert to any instances of non-compliance throughout our audit; and
- Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud.

We also considered those laws wand regulations which have a direct effect on the preparation of the financial statements such as tax legislation, the Companies Act 2006 and the reporting framework (FRS102).

Further to this, we evaluated the Directors' and managements incentives and opportunities for fraudulent manipulation of the financial statements including the risk of management override of controls and determined the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to property valuations and significant one off or unusual transactions.

Our audit procedures in relation to fraud included but were not limited to:
- Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;
- Gaining an understanding of internal controls established to mitigate risks related to fraud;
- Discussing amongst the engagement team the risks of fraud; and
- Addressing the risks of fraud through management override of controls by performing journal entry testing.


Report of the Independent Auditors to the Members of
Heaver Group Holdings Ltd

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Steve Robinson ACA (Senior Statutory Auditor)
for and on behalf of Nicholsons Audit (Statutory Auditor)
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN

20 January 2025

Heaver Group Holdings Ltd (Registered number: 12891092)

Consolidated
Income Statement
for the year ended 30 June 2024

2024 2023
Notes £    £    £    £   

TURNOVER 3 6,380,255 5,355,205

Cost of sales 859,996 674,743
GROSS PROFIT 5,520,259 4,680,462

Administrative expenses 4,361,630 3,708,539
1,158,629 971,923

Other operating income 108,705 82,484
OPERATING PROFIT 5 1,267,334 1,054,407

Income from fixed asset investments 4,953 -
Interest receivable and similar
income

80,690

30,453
85,643 30,453
1,352,977 1,084,860

Interest payable and similar
expenses

6

39

-
PROFIT BEFORE TAXATION 1,352,938 1,084,860

Tax on profit 7 222,453 159,776
PROFIT FOR THE FINANCIAL YEAR 1,130,485 925,084
Profit attributable to:
Owners of the parent 1,130,485 925,084

Heaver Group Holdings Ltd (Registered number: 12891092)

Consolidated
Other Comprehensive Income
for the year ended 30 June 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,130,485 925,084


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,130,485

925,084

Total comprehensive income attributable to:
Owners of the parent 1,130,485 925,084

Heaver Group Holdings Ltd (Registered number: 12891092)

Consolidated Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 2,049,340 2,113,426
Investments 11 1,010 1,010
2,050,350 2,114,436

CURRENT ASSETS
Stocks 12 - 11,029
Debtors 13 1,434,592 924,235
Investments 14 2,051,114 590,200
Cash at bank and in hand 4,353,724 4,727,850
7,839,430 6,253,314
CREDITORS
Amounts falling due within one year 15 1,662,913 1,135,015
NET CURRENT ASSETS 6,176,517 5,118,299
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,226,867

7,232,735

PROVISIONS FOR LIABILITIES 16 130,403 141,756
NET ASSETS 8,096,464 7,090,979

CAPITAL AND RESERVES
Called up share capital 17 52,770 52,770
Retained earnings 18 8,043,694 7,038,209
8,096,464 7,090,979

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by:





Mr P M Heaver - Director


Heaver Group Holdings Ltd (Registered number: 12891092)

Company Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 - -
Investments 11 52,870 52,870
52,870 52,870

CURRENT ASSETS
Debtors 13 1,225,152 1,205,152
Investments 14 1,260,559 -
Cash at bank 1,058,676 1,932,542
3,544,387 3,137,694
CREDITORS
Amounts falling due within one year 15 15,443 2,400
NET CURRENT ASSETS 3,528,944 3,135,294
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,581,814

3,188,164

CAPITAL AND RESERVES
Called up share capital 17 52,770 52,770
Retained earnings 3,529,044 3,135,394
3,581,814 3,188,164

Company's profit for the financial
year

518,650

412,466

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by:





Mr P M Heaver - Director


Heaver Group Holdings Ltd (Registered number: 12891092)

Consolidated Statement of Changes in Equity
for the year ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 52,770 6,473,125 6,525,895

Changes in equity
Dividends - (360,000 ) (360,000 )
Total comprehensive income - 925,084 925,084
Balance at 30 June 2023 52,770 7,038,209 7,090,979

Changes in equity
Dividends - (125,000 ) (125,000 )
Total comprehensive income - 1,130,485 1,130,485
Balance at 30 June 2024 52,770 8,043,694 8,096,464

Heaver Group Holdings Ltd (Registered number: 12891092)

Company Statement of Changes in Equity
for the year ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 52,770 3,082,928 3,135,698

Changes in equity
Dividends - (360,000 ) (360,000 )
Total comprehensive income - 412,466 412,466
Balance at 30 June 2023 52,770 3,135,394 3,188,164

Changes in equity
Dividends - (125,000 ) (125,000 )
Total comprehensive income - 518,650 518,650
Balance at 30 June 2024 52,770 3,529,044 3,581,814

Heaver Group Holdings Ltd (Registered number: 12891092)

Consolidated Cash Flow Statement
for the year ended 30 June 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,334,736 673,006
Interest paid (39 ) -
Tax paid (74,697 ) (56,126 )
Net cash from operating activities 1,260,000 616,880

Cash flows from investing activities
Purchase of tangible fixed assets (137,531 ) (480,914 )
Sale of tangible fixed assets 4,958 1,617
Decrease in investment (1,460,916 ) 6,189
Interest received 80,690 30,453
Dividends received 4,953 -
Net cash from investing activities (1,507,846 ) (442,655 )

Cash flows from financing activities
Amount withdrawn by directors (1,280 ) (95,944 )
Equity dividends paid (125,000 ) (360,000 )
Net cash from financing activities (126,280 ) (455,944 )

Decrease in cash and cash equivalents (374,126 ) (281,719 )
Cash and cash equivalents at
beginning of year

2

4,727,850

5,009,569

Cash and cash equivalents at end
of year

2

4,353,724

4,727,850

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Cash Flow Statement
for the year ended 30 June 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 1,352,938 1,084,860
Depreciation charges 194,236 152,563
Loss/(profit) on disposal of fixed assets 2,424 (1,442 )
Finance costs 39 -
Finance income (85,643 ) (30,453 )
1,463,994 1,205,528
Decrease in stocks 11,029 712
Increase in trade and other debtors (509,484 ) (86,737 )
Increase/(decrease) in trade and other creditors 369,197 (446,497 )
Cash generated from operations 1,334,736 673,006

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 4,353,724 4,727,850
Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 4,727,850 5,009,569


Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Cash Flow Statement
for the year ended 30 June 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank and in hand 4,727,850 (374,126 ) 4,353,724
4,727,850 (374,126 ) 4,353,724

Liquid resources
Current asset investments 590,200 1,460,914 2,051,114
590,200 1,460,914 2,051,114
Total 5,318,050 1,086,788 6,404,838

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Heaver Group Holdings Ltd 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Basis of consolidation
The group financial statements consolidate the financial statements of Heaver Group Holdings Limited and its subsidiary undertakings drawn up to 30 June each year. Subsidiaries are consolidated from the date of their acquisition, being the date on which the Group obtains control and continue to be consolidated until the date that such control ceases. Control comprises the power to govern the financial and operating policies of the investee so as to obtain benefit from its activities.

All other subsidiary undertakings have been excluded from consolidation on the basis of having an immaterial impact to the group consolidated financial statements.

Turnover
Turnover represents net invoiced sales of goods and services, excluding the value added tax.

Income is deferred at the year end to recognise only the elements of income relating to the current financial year, in respect of maintenance contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost and not provided
Plant and machinery - 15% on cost, 10% on cost and Monthly over a 12 month period
Fixtures and fittings - 15% on cost and 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

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


Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Current asset investments
The Current Asset Investments are included within the accounts at the market value.

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 6,124,554 5,119,959
Europe 255,701 235,246
6,380,255 5,355,205

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was as
follows:


2024 2023

Admin 4 4
Support 18 17
Data Centre 3 3
Projects 15 19
Development 34 27
Sales marketing 6 5
Central administration 2 2
Training 3 2
Farm employees 2 2

87 81

The number of directors to whom retirement benefits were accruing was as follows;

Defined contribution schemes 2024 - 2 (2023 - 2).

2024 2023
£    £   
Directors' remuneration 100,824 100,824
Directors' pension contributions to money purchase schemes 75,000 50,000

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Other operating leases 12,996 12,996
Depreciation - owned assets 194,235 152,564
Loss/(profit) on disposal of fixed assets 2,424 (1,442 )
Foreign exchange differences 5,520 (1,963 )
Audit fees 2,700 2,700

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
HMRC Interest 39 -

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 233,805 62,470

Deferred tax (11,352 ) 97,306
Tax on profit 222,453 159,776

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,352,938 1,084,860
Profit multiplied by the standard rate of corporation tax in the
UK of 25 % (2023 - 19 %)

338,235

206,123

Effects of:
Expenses not deductible for tax purposes 167 213
Income not taxable for tax purposes - (274 )
Capital allowances in excess of depreciation - (66,805 )
Depreciation in excess of capital allowances 14,684 -
Deferred tax (11,352 ) 97,307
Research & development (121,969 ) (74,252 )
Group Relief 2,688 1,872
Change of tax rate - 5,268
Adjustments to tax charge in respect of previous periods - (9,676 )
Total tax charge 222,453 159,776

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS

30/06/24 30/06/23
£ £
52,770 shares of £1 each
Final 125,000 360,000

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

10. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 1,619,427 128,388 184,942
Additions 9,553 26,829 63,624
Disposals - (8,974 ) (995 )
At 30 June 2024 1,628,980 146,243 247,571
DEPRECIATION
At 1 July 2023 152,045 71,375 89,767
Charge for year 23,205 12,700 19,765
Eliminated on disposal - (2,277 ) (315 )
At 30 June 2024 175,250 81,798 109,217
NET BOOK VALUE
At 30 June 2024 1,453,730 64,445 138,354
At 30 June 2023 1,467,382 57,013 95,175

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 328,334 433,090 2,694,181
Additions - 37,525 137,531
Disposals - (4,169 ) (14,138 )
At 30 June 2024 328,334 466,446 2,817,574
DEPRECIATION
At 1 July 2023 46,154 221,414 580,755
Charge for year 65,703 72,862 194,235
Eliminated on disposal - (4,164 ) (6,756 )
At 30 June 2024 111,857 290,112 768,234
NET BOOK VALUE
At 30 June 2024 216,477 176,334 2,049,340
At 30 June 2023 282,180 211,676 2,113,426

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

11. FIXED ASSET INVESTMENTS

Group
Shares in
profile Q
£   
COST
At 1 July 2023
and 30 June 2024 42,780
PROVISIONS
At 1 July 2023
and 30 June 2024 41,770
NET BOOK VALUE
At 30 June 2024 1,010
At 30 June 2023 1,010
Company
Shares in
group
undertakin
£   
COST
At 1 July 2023
and 30 June 2024 52,870
NET BOOK VALUE
At 30 June 2024 52,870
At 30 June 2023 52,870

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Streets Heaver Computer Systems Ltd
Registered office: The Point Weaver Road LINCOLN LN6 3QN
Nature of business: Computer software
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 4,746,956 4,111,236
Profit for the year 1,135,720 974,021

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

11. FIXED ASSET INVESTMENTS - continued

Church Farm Swayfield Ltd
Registered office: The Point Weaver Road LINCOLN LN6 3QN
Nature of business: Farming
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (179,536 ) (155,552 )
Loss for the year (23,884 ) (61,404 )


12. STOCKS

Group
2024 2023
£    £   
Stocks - 11,029

13. DEBTORS

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year:
Trade debtors 1,279,740 790,976 - -
Bad debt provision - (21,500 ) - -
Amounts owed by group undertakings - - - 1,205,152
Other debtors 24,791 15,490 - -
Directors' current accounts 873 - - -
Prepayments and accrued income 129,188 139,269 - -
1,434,592 924,235 - 1,205,152

Amounts falling due after more than one year:
Amounts owed by group undertakings - - 1,225,152 -

Aggregate amounts 1,434,592 924,235 1,225,152 1,205,152

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

14. CURRENT ASSET INVESTMENTS

Group Company
2024 2023 2024 2023
£    £    £    £   
Listed investments 2,051,114 590,200 1,260,559 -

Market value of listed investments at 30 June 2024 held by the group - £2,051,114 (2023 - £590,200). and by the company - £ (1,260,559) .

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade creditors 203,454 92,469 7,326 -
Other creditors - 62 - -
Tax 231,250 72,142 5,417 -
Social security and other taxes 77,221 74,831 - -
Pension control 29,035 16,887 - -
VAT 281,603 167,153 - -
Amounts owed to Profile Q 1,000 1,000 - -
Directors' current accounts - 407 - -
Accruals and deferred income 839,350 710,064 2,700 2,400
1,662,913 1,135,015 15,443 2,400

16. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax
Deferred tax b/fwd 141,755 44,449
Accelerated capital allowances (11,352 ) 83,270
Tax rate adjustment - 14,037
130,403 141,756

Group
Deferred
tax
£   
Balance at 1 July 2023 141,756
Accelerated capital allowances (11,353 )
Tax rate adjustment
Balance at 30 June 2024 130,403

Heaver Group Holdings Ltd (Registered number: 12891092)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

17. CALLED UP SHARE CAPITAL

Allocated, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
40,270 Ordinary A £1 40,270 40,270
5,000 Ordinary B £1 5,000 5,000
45,270 45,270

Allocated and issued:
Number: Class: Nominal 2023 2022
value: £    £   
2,500 Ordinary C £1 2,500 2,500
2,500 Ordinary D £1 2,500 2,500
2,500 Ordinary E £1 2,500 2,500
7,500 7,500

Ordinary shares A - E are ranked in pari passu in all aspects.

18. RESERVES

Group
Retained
earnings
£   

At 1 July 2023 7,038,209
Profit for the year 1,130,485
Dividends (125,000 )
At 30 June 2024 8,043,694