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Registered number: 10633696
Heaps + Stacks Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 10633696
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 33,874 23,015
Investments 5 293,696 281,264
327,570 304,279
CURRENT ASSETS
Debtors 1,160,098 581,434
Cash at bank and in hand 1,653,254 717,986
2,813,352 1,299,420
Creditors: Amounts Falling Due Within One Year (1,648,850 ) (766,440 )
NET CURRENT ASSETS (LIABILITIES) 1,164,502 532,980
TOTAL ASSETS LESS CURRENT LIABILITIES 1,492,072 837,259
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,479 ) (5,377 )
NET ASSETS 1,482,593 831,882
CAPITAL AND RESERVES
Called up share capital 6 10 10
Profit and Loss Account 1,482,583 831,872
SHAREHOLDERS' FUNDS 1,482,593 831,882
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mrs K Wildsmith
Director
01/08/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Heaps + Stacks Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10633696 . The registered office is 24 Marryat Square, Wyfold Road, London, SW6 6UA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% Reducing balance
2.4. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
2.7. Investments
Investments in unlisted company shares, whose market value can be reliably determined, are
remeasured to market value at each balance sheet date. Gains and losses on remeasurement are
recognised in the Statement of comprehensive income for the period. Where market value cannot be
reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each Statement of financial
position date. Gains and losses on remeasurement are recognised in profit or loss for the period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 19)
19 19
4. Tangible Assets
Total
£
Cost
As at 1 January 2024 43,762
Additions 17,971
As at 31 December 2024 61,733
Depreciation
As at 1 January 2024 20,747
Provided during the period 7,112
As at 31 December 2024 27,859
Net Book Value
As at 31 December 2024 33,874
As at 1 January 2024 23,015
5. Investments
Total
£
Cost
As at 1 January 2024 281,264
Fair value adjustments 12,432
As at 31 December 2024 293,696
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 293,696
As at 1 January 2024 281,264
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
Page 4
Page 5
7. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 1,969 42,541
Later than one year and not later than five years 492 492
2,461 43,033
Page 5