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Registration number: 00544693

J H Heath Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

J H Heath Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

J H Heath Limited

Company Information

Directors

J R Heath

K L Heath

Y Heath

Company secretary

J R Heath

Registered office

The Stables
Cottage Farm
Tathwell
Louth
Lincolnshire
LN11 9SS

Solicitors

Bridge McFarland
9 Cornmarket
Louth
Lincolnshire
LN11 9PY

 

J H Heath Limited

(Registration number: 00544693)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,379,393

1,417,185

Current assets

 

Stocks

5

180

21,813

Debtors

6

319,032

238,523

Cash at bank and in hand

 

3,559,787

3,515,741

 

3,878,999

3,776,077

Creditors: Amounts falling due within one year

7

(343,411)

(148,414)

Net current assets

 

3,535,588

3,627,663

Total assets less current liabilities

 

4,914,981

5,044,848

Creditors: Amounts falling due after more than one year

7

(5,152)

(15,152)

Net assets

 

4,909,829

5,029,696

Capital and reserves

 

Called up share capital

8

15,063

15,063

Capital redemption reserve

250

250

Fair value reserve

89,289

107,184

Retained earnings

4,805,227

4,907,199

Shareholders' funds

 

4,909,829

5,029,696

For the financial year ending 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:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 June 2025 and signed on its behalf by:
 

 

J H Heath Limited

(Registration number: 00544693)
Balance Sheet as at 30 September 2024

.........................................
J R Heath
Company secretary and director

 

J H Heath Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Stables
Cottage Farm
Tathwell
Louth
Lincolnshire
LN11 9SS

These financial statements were authorised for issue by the Board on 17 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the company and have been rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Government grants

Basic Payment Scheme is received in respect of calendar years. Receipt is contingent upon meeting certain eligibility criteria. Once the criteria have been met the income is recognised on a time apportioned basis over the calendar year to which it relates.

 

J H Heath Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial
statements of current and previous periods. It is recognised in respect of all timing differences, with certain
exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the
balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued
non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Self propelled machinery

15% reducing balance basis

Land and buildings

0 - 2% straight line basis

Implements

15% reducing balance basis

Motor vehicles

25% reducing balance basis

Fixtures fittings and equipment

10 - 25% reducing balance basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Entitlements

2 years straight line

Stocks

The basis of valuation is as follows:

Raw materials and consumables are stated at the lower of cost or net realisable value.
Tenantright is calculated by a combination of actual costs incurred and standard costs.

Standard costings used are based upon calculation prepared by the Central Association of Agricultural Valuers.

 

J H Heath Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 6 (2023 - 6).

 

J H Heath Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

1,852,529

153,029

117,924

2,123,482

Additions

-

-

30,600

30,600

Disposals

-

-

(4,100)

(4,100)

At 30 September 2024

1,852,529

153,029

144,424

2,149,982

Depreciation

At 1 October 2023

566,203

63,309

76,784

706,296

Charge for the year

32,412

22,317

11,577

66,306

Eliminated on disposal

-

-

(2,013)

(2,013)

At 30 September 2024

598,615

85,626

86,348

770,589

Carrying amount

At 30 September 2024

1,253,914

67,403

58,076

1,379,393

At 30 September 2023

1,286,326

89,720

41,139

1,417,185

The valuations land and buildings were made as at 30 September, 2000 by a firm of independent Chartered Surveyors on an open market basis.

Had this class of asset been measured on a historical cost basis, the carrying amount would have been £839,074 (2023: £839,074).

5

Stocks

2024
£

2023
£

Other inventories

180

21,813

6

Debtors

2024
£

2023
£

Trade debtors

255,169

210,941

Prepayments

7,514

7,428

Other debtors

56,349

20,154

319,032

238,523

 

J H Heath Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

26,105

2,583

Trade creditors

 

227,929

104,665

Taxation and social security

 

48,331

120

Accruals and deferred income

 

41,046

41,046

 

343,411

148,414

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Other borrowings

9

5,152

15,152

Other borrowings

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

5,727

5,727

5,727

5,727

Ordinary B shares of £1 each

9,336

9,336

9,336

9,336

15,063

15,063

15,063

15,063

 

J H Heath Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

5,152

15,152

Current loans and borrowings

2024
£

2023
£

Other borrowings

26,105

2,583

Bank loans and overdrafts totalling £nil (2023: £nil) are secured on the assets of the company.

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £15.00 (2023 - £19.00) per each Ordinary B shares

140,040

177,384

Interim dividend of £17.00 (2023 - £Nil) per each Ordinary A Shares

100,000

-

240,040

177,384