Heath Books Ltd

	Page
Accountants' Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—7

Report to the directors on the preparation of the unaudited statutory accounts of Heath Books Ltd For The Year Ended 31 December 2024

To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Heath Books Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the directors of Heath Books Ltd , as a body, in accordance with the terms of our engagement letter . Our work has been undertaken solely to prepare for your approval the accounts of Heath Books Ltd and state those matters that we have agreed to state to the directors of Heath Books Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Heath Books Ltd and its directors as a body for our work or for this report.

It is your duty to ensure that Heath Books Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Heath Books Ltd . You consider that Heath Books Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Heath Books Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

Signed

13/03/2025

Purvis Stevens LLP

Hayles Bridge Offices

228 Mulgrave Road

Cheam

Surrey

SM2 6JT

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Heath Books Ltd

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: 07379059

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		9,666		18,888
Tangible Assets	5		-		5,096

			9,666		23,984
CURRENT ASSETS
Stocks	6	304,950		267,300
Debtors	7	508,420		570,337
Cash at bank and in hand		959,059		1,023,259

		1,772,429		1,860,896
Creditors: Amounts Falling Due Within One Year	8	(993,507 )		(1,037,743 )

NET CURRENT ASSETS (LIABILITIES)			778,922		823,153

TOTAL ASSETS LESS CURRENT LIABILITIES			788,588		847,137

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(1,098 )

NET ASSETS			788,588		846,039

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			788,586		846,037

SHAREHOLDERS' FUNDS			788,588		846,039

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Heath Books Ltd

Balance Sheet (continued)

As At 31 December 2024

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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

On behalf of the board

Mr Richard Heath

Director

13/03/2025

The notes on pages 4 to 7 form part of these financial statements.

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Heath Books Ltd

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Heath Books Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07379059 . The registered office is Hayles Bridge Offices, 228 Mulgrave Road, Cheam, Surrey, SM2 6JT.

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.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets is the difference between amounts paid on the acquisition of a businesses intellectual property and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.

2.5. 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:

Plant & Machinery	25% Straight Line
Fixtures & Fittings	25% Straight Line
Computer Equipment	5 Years

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.7. 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.

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Heath Books Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 24 (2023: 26)

4. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 January 2024	317,500	46,110	363,610

As at 31 December 2024	317,500	46,110	363,610

Amortisation
As at 1 January 2024	317,500	27,222	344,722
Provided during the period	-	9,222	9,222

As at 31 December 2024	317,500	36,444	353,944

Net Book Value
As at 31 December 2024	-	9,666	9,666

As at 1 January 2024	-	18,888	18,888

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Heath Books Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	53,203	4,579	73,592	131,374

As at 31 December 2024	53,203	4,579	73,592	131,374

Depreciation
As at 1 January 2024	48,107	4,579	73,592	126,278
Provided during the period	5,096	-	-	5,096

As at 31 December 2024	53,203	4,579	73,592	131,374

Net Book Value
As at 31 December 2024	-	-	-	-

As at 1 January 2024	5,096	-	-	5,096

6. Stocks

	2024	2023
	£	£
Stock	304,950	267,300

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	332,228	387,561
Prepayments and accrued income	8,412	8,412
Deferred tax current asset	145	-
VAT	10,471	16,755
Directors' loan accounts	157,164	157,609

	508,420	570,337

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	915,809	949,090
Corporation tax	35,932	37,086
Other taxes and social security	13,982	15,063
Other creditors	-	3,087
Accruals and deferred income	27,784	33,417

	993,507	1,037,743

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2	2

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Heath Books Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mrs Gillian Heath	78,804	78,542	(79,000 )	-	78,346
Mr Richard Heath	78,805	79,013	(79,000 )	-	78,818

The above loan is unsecured and repayable on demand.

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