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Registered Number: 00695764
England and Wales

 

 

 

L S HEASON INVESTMENTS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
Directors Mrs J L Heason
Mrs J P Heason
Mr D R Heason
Mrs D I Heason
Registered Number 00695764
Registered Office Unit 2 Sherbrook Enterprise
100 Sherbrook Road
Daybrook
Nottingham
NG5 6AB
Accountants Equinox Accounting Limited
Unit 2 Sherbrook Road
Daybrook
Nottingham
Nottinghamshire
NG5 6AB
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 3,074,347    2,975,858 
3,074,347    2,975,858 
Current assets      
Debtors 4 91,909    81,946 
Cash at bank and in hand 127,052    109,526 
218,961    191,472 
Creditors: amount falling due within one year 5 (21,535)   (18,196)
Net current assets 197,426    173,276 
 
Total assets less current liabilities 3,271,773    3,149,134 
Creditors: amount falling due after more than one year 6 (48,570)   (59,870)
Provisions for liabilities 7 (249,949)   (231,066)
Net assets 2,973,254    2,858,198 
 

Capital and reserves
     
Called up share capital 8 96,000    96,000 
Reserves 9 1,608,955    1,528,458 
Profit and loss account 1,268,299    1,233,740 
Shareholders' funds 2,973,254    2,858,198 
 


For the 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.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 01 April 2025 and were signed on its behalf by:


-------------------------------
Mrs J L Heason
Director
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General Information
L S Heason Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 00695764, registration address Unit 2 Sherbrook Enterprise, 100 Sherbrook Road, Daybrook, Nottingham, NG5 6AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Income Recognition
Turnover is measured at a fair value of the consideration received or receivable. The policies adopted for the recognition of turnover are as follows:
Rental Income - Turnover from the rental of properties is recognised when the amount of turnover can be measured reliably and it is probable that the economic benefits with the transaction will flow to the company.
Interest receivable - Revenue is recognised as interest accrues using the effective interest method.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Equipment 33.3 Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Debt Instruments
Loans provided by commercial lenders carry a commercial rate of interest are measured at amortised cost using the effective interest rate method.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Equipment   Investment properties   Total
  £   £   £
At 01 October 2023 2,168    2,975,250    2,977,418 
Additions    
Disposals   (4,000)   (4,000)
Revaluations   102,750    102,750 
At 30 September 2024 2,168    3,074,000    3,076,168 
Depreciation
At 01 October 2023 1,560      1,560 
Charge for year 261      261 
On disposals    
At 30 September 2024 1,821      1,821 
Net book values
Closing balance as at 30 September 2024 347    3,074,000    3,074,347 
Opening balance as at 01 October 2023 608    2,975,250    2,975,858 

Tangible fixed assets included at valuation would have been included on an historical cost basis at £1,215,095 (2023: £1,215,725). The investment properties are revalued annually by a professional and confirmed by the directors on an open market value basis, and consider themselves able to do so given their expertise and knowledge of the investment property market.

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 13,548    9,858 
Prepayments & Accrued Income 8,096    1,675 
Other Debtors 15,113    14,693 
Directors Current Account 55,152    55,720 
91,909    81,946 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Bank Loans & Overdrafts (Secured) 11,309    10,917 
Corporation Tax 7,490   
PAYE & Social Security 1,898    1,807 
Accrued Expenses 23    441 
Other Creditors 815    5,031 
21,535    18,196 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts (secured) 48,570    59,870 
48,570    59,870 
Bank loans totalling £59,879 (2023: £70,787) are secured by a fixed and floating charge over the company's assets.

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 231,066    195,369 
Charged to Profit & Loss 18,883    35,697 
249,949    231,066 

8.

Share Capital

Authorised
96,000 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
96,000 Ordinary shares of £1.00 each 96,000    96,000 
96,000    96,000 

9.

Reserves

2024
£
  2023
£
Revaluation Reserve b/fwd 1,528,458    1,376,275 
Transfer to Profit and Loss Account 80,497    152,183 
1,608,955    1,528,458 

10.

Related Party Transactions

During the year a loan existed, made to Mr T A Heason, a relative of the directors of the company. The loan carries an interest charge as per HM Revenue & Customs rates.

The amount outstanding at the year end was £55,152 (2023: £55,720).
3