Company registration number 10299219 (England and Wales)
HEANEY & MILL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2024
PAGES FOR FILING WITH REGISTRAR
HEANEY & MILL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HEANEY & MILL LIMITED
BALANCE SHEET
AS AT 30 JULY 2024
30 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
316,924
363,367
Current assets
Stocks
16,663
16,813
Debtors
4
511,236
611,091
Cash at bank and in hand
2,415
150
530,314
628,054
Creditors: amounts falling due within one year
5
(650,869)
(561,614)
Net current (liabilities)/assets
(120,555)
66,440
Total assets less current liabilities
196,369
429,807
Creditors: amounts falling due after more than one year
6
(129,634)
(193,867)
Provisions for liabilities
(11,206)
(16,772)
Net assets
55,529
219,168
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
55,429
219,068
Total equity
55,529
219,168
HEANEY & MILL LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JULY 2024
30 July 2024
- 2 -

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

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.

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.

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

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

The financial statements were approved and signed by the director and authorised for issue on 23 May 2025
M A Heaney
Director
Company registration number 10299219 (England and Wales)
HEANEY & MILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2024
- 3 -
1
Accounting policies
Company information

Heaney & Mill Limited is a private company limited by shares incorporated in England and Wales. The registered office is Yorkshire Bank Chambers, 2 Infirmary Street, Leeds, West Yorkshire, LS1 2JP.

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. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is the value of restaurant services provided to customers during the year.

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:

Leasehold property improvements
2% on cost (excluding freehold land)
Plant and machinery
20% on reducing balance
Fixtures and fittings
20% on reducing balance
Motor vehicles
25% 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.

1.4
Stocks

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

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Financial instruments

Bank loans are measured at amortised cost.

 

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability

1.6
Taxation

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

HEANEY & MILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2024
1
Accounting policies
(Continued)
- 4 -
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.

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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
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.

1.8
Leases

Assets obtained under hire purchase contracts are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost using the effective rate of interest.

 

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

 

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

1.9

Debtors

Short term debtors are measured at their transaction price, less any impairment.

1.10

Creditors

Short term creditors are measured at their transaction price.

2
Employees

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

2024
2023
Number
Number
Total
40
40
HEANEY & MILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2024
- 5 -
3
Tangible fixed assets
Leasehold property improvements
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 31 July 2023 and 30 July 2024
183,718
88,880
30,876
130,220
433,694
Depreciation and impairment
At 31 July 2023
3,674
39,436
19,078
8,139
70,327
Depreciation charged in the year
3,674
9,889
2,360
30,520
46,443
At 30 July 2024
7,348
49,325
21,438
38,659
116,770
Carrying amount
At 30 July 2024
176,370
39,555
9,438
91,561
316,924
At 30 July 2023
180,044
49,444
11,798
122,081
363,367
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,190
1,111
Corporation tax recoverable
-
0
3,117
Other debtors
458,497
556,172
Prepayments and accrued income
50,549
50,691
511,236
611,091
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
32,520
30,172
Obligations under finance leases
17,077
15,298
Other borrowings
110,940
32,385
Trade creditors
81,862
72,752
Taxation and social security
59,511
77,040
Other creditors
342,579
329,947
Accruals and deferred income
6,380
4,020
650,869
561,614
HEANEY & MILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
26,233
59,688
Obligations under finance leases
56,819
74,513
Other borrowings
46,582
59,666
129,634
193,867

The bank holds a fixed and floating charge over the assets of the business.

7
Directors' transactions

A director was advanced £293,325 (2023: £128,319) and repaid £421,234 (2023: £nil) in the year. The total aggregate amount due from directors is £410 (2023: £128,319). No interest is charged on the loan and there are no formal repayment terms.

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