Heavyweight Ltd
Company Registration No. 10969540 (England And Wales)
Unaudited Financial Statements
Year Ended 30 September 2024
HEAVYWEIGHT LTD
Heavyweight Ltd
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
HEAVYWEIGHT LTD
Heavyweight Ltd
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
30,421
30,320
Current assets
Debtors
5
2,398
11,336
Cash at bank and in hand
235,436
175,882
237,834
187,218
Creditors: amounts falling due within one year
6
(65,942)
(95,379)
Net current assets
171,892
91,839
Total assets less current liabilities
202,313
122,159
Provisions for liabilities
(1,971)
(1,846)
Net assets
200,342
120,313
Capital and reserves
Called up share capital
112
112
Share premium account
14,352
14,352
Profit and loss reserves
185,878
105,849
Total equity
200,342
120,313

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

HEAVYWEIGHT LTD
Heavyweight Ltd
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 2 June 2025
Mr P Robinson
Director
Company registration number 10969540 (England and Wales)
HEAVYWEIGHT LTD
Heavyweight Ltd
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Heavyweight Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 6 George House, Beam Heath Way, Nantwich, Cheshire, United Kingdom, CW5 6GD12 Pashmina Avenue, Barlaston, Stoke On trent, ST12 9FE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Property improvements
No depreciation
Fixtures and fittings
20% on reducing balance
Computers
20% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

HEAVYWEIGHT LTD
Heavyweight Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

HEAVYWEIGHT LTD
Heavyweight Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
HEAVYWEIGHT LTD
Heavyweight Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
4
Tangible fixed assets
Property improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 October 2023
22,938
1,482
10,916
35,336
Additions
-
0
-
0
2,473
2,473
Disposals
-
0
(281)
(545)
(826)
At 30 September 2024
22,938
1,201
12,844
36,983
Depreciation and impairment
At 1 October 2023
-
0
882
4,134
5,016
Depreciation charged in the year
-
0
103
1,770
1,873
Eliminated in respect of disposals
-
0
(189)
(138)
(327)
At 30 September 2024
-
0
796
5,766
6,562
Carrying amount
At 30 September 2024
22,938
405
7,078
30,421
At 30 September 2023
22,938
600
6,782
30,320
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
2
Other debtors
2,398
11,334
2,398
11,336
HEAVYWEIGHT LTD
Heavyweight Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
310
2,178
Corporation tax
48,169
64,030
Other taxation and social security
-
0
27,175
Other creditors
17,463
1,996
65,942
95,379

 

7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
1,971
1,846
2024
Movements in the year:
£
Liability at 1 October 2023
1,846
Charge to profit or loss
125
Liability at 30 September 2024
1,971
8
Directors' transactions

At the 30 September 2024 the Director owes nil (2023 £11,334) to the Company. No interest has been charged to the Company in respect of this loan which is repayable on demand and classified in debtors due within one year.

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