IRIS Accounts Production v24.3.2.46 03789369 Board of Directors 1.9.23 31.8.24 31.8.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037893692023-08-31037893692024-08-31037893692023-09-012024-08-31037893692022-08-31037893692022-09-012023-08-31037893692023-08-3103789369ns15:EnglandWales2023-09-012024-08-3103789369ns14:PoundSterling2023-09-012024-08-3103789369ns10:Director12023-09-012024-08-3103789369ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3103789369ns10:SmallEntities2023-09-012024-08-3103789369ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3103789369ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3103789369ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3103789369ns10:FullAccounts2023-09-012024-08-3103789369ns10:Director22023-09-012024-08-3103789369ns10:RegisteredOffice2023-09-012024-08-3103789369ns5:CurrentFinancialInstruments2024-08-3103789369ns5:CurrentFinancialInstruments2023-08-3103789369ns5:Non-currentFinancialInstruments2024-08-3103789369ns5:Non-currentFinancialInstruments2023-08-3103789369ns5:ShareCapital2024-08-3103789369ns5:ShareCapital2023-08-3103789369ns5:RetainedEarningsAccumulatedLosses2024-08-3103789369ns5:RetainedEarningsAccumulatedLosses2023-08-3103789369ns5:PlantMachinery2023-09-012024-08-3103789369ns5:FurnitureFittings2023-09-012024-08-3103789369ns5:PlantMachinery2023-08-3103789369ns5:FurnitureFittings2023-08-3103789369ns5:PlantMachinery2024-08-3103789369ns5:FurnitureFittings2024-08-3103789369ns5:PlantMachinery2023-08-3103789369ns5:FurnitureFittings2023-08-3103789369ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3103789369ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3103789369ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-08-3103789369ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-08-3103789369ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-08-3103789369ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-08-3103789369ns5:Secured2024-08-3103789369ns5:Secured2023-08-31
REGISTERED NUMBER: 03789369 (England and Wales)















HEARTLANDS FURNITURE (WHOLESALE) LIMITED

Financial Statements for the Year Ended 31 August 2024






HEARTLANDS FURNITURE (WHOLESALE) LIMITED (REGISTERED NUMBER: 03789369)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


HEARTLANDS FURNITURE (WHOLESALE) LIMITED

Company Information
for the year ended 31 August 2024







Directors: T Shareef
S Shareef





Registered office: Heartlands House
Cranford Street
Smethwick
West Midlands
B66 2TA





Registered number: 03789369 (England and Wales)





Accountants: Cooper Parry Advisory Limited
CUBO Birmingham
4th Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX

HEARTLANDS FURNITURE (WHOLESALE) LIMITED (REGISTERED NUMBER: 03789369)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 610,812 678,680

Current assets
Stocks 3,713,772 3,900,871
Debtors 5 1,303,802 4,821,983
Cash at bank and in hand 269,207 202,873
5,286,781 8,925,727
Creditors
Amounts falling due within one year 6 2,814,086 3,224,446
Net current assets 2,472,695 5,701,281
Total assets less current liabilities 3,083,507 6,379,961

Creditors
Amounts falling due after more than one year 7 (483,378 ) (498,307 )

Provisions for liabilities (274,516 ) (169,670 )
Net assets 2,325,613 5,711,984

Capital and reserves
Called up share capital 99 99
Retained earnings 2,325,514 5,711,885
Shareholders' funds 2,325,613 5,711,984

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 30 January 2025 and were signed on its behalf by:




S Shareef - Director


HEARTLANDS FURNITURE (WHOLESALE) LIMITED (REGISTERED NUMBER: 03789369)

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

1. Statutory information

Heartlands Furniture (Wholesale) 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
The company recognises revenue when it transfers control over goods to a customer. Turnover is measured at the fair value of the consideration received or receivable and is presented net of value added tax (VAT), rebates and discounts.

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 - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance

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

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.

3. Employees and directors

The average number of employees during the year was 35 (2023 - 35 ) .

4. Tangible fixed assets
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
Cost
At 1 September 2023
and 31 August 2024 1,041,727 170,050 1,211,777
Depreciation
At 1 September 2023 434,684 98,413 533,097
Charge for year 60,704 7,164 67,868
At 31 August 2024 495,388 105,577 600,965
Net book value
At 31 August 2024 546,339 64,473 610,812
At 31 August 2023 607,043 71,637 678,680

HEARTLANDS FURNITURE (WHOLESALE) LIMITED (REGISTERED NUMBER: 03789369)

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

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 873,429 826,718
Amounts owed by participating interests 1,604 3,658,957
Other debtors 183,096 248,770
Directors' current accounts 183,306 25,170
Prepayments 62,367 62,368
1,303,802 4,821,983

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 100,000 100,000
Hire purchase contracts 98,667 87,747
Trade creditors 1,973,361 2,470,597
Amounts owed to participating interests - 132,133
Tax 150,544 40,631
Social security and other taxes 12,919 11,613
VAT 420,005 103,085
Other creditors 27,232 249,813
Directors' current accounts - 8,564
Accruals and deferred income 31,358 20,263
2,814,086 3,224,446

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 100,000 100,000
Bank loans - 2-5 years 16,667 116,667
Hire purchase contracts 7,124 7,124
Other creditors > I year 359,587 274,516
483,378 498,307

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 216,667 316,667

The bank loans are secured by a fixed charge over the company's assets.

9. Directors' advances, credits and guarantees

At the year end there was an amount due to the company fro the directors of £183,306.

10. Parent company

The company is a wholly owned subsidiary of Heartlands Topco Ltd, a company incorporated in England & Wales whose registered office address is Heartlands House, Cranford Street, Smethwick, B66 2TA.