2 2 Heddon Management Limited 03225146 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of house builders and developers. Digita Accounts Production Advanced 6.30.9574.0 true true 03225146 2024-01-01 2024-12-31 03225146 2024-12-31 03225146 core:CurrentFinancialInstruments 2024-12-31 03225146 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 03225146 core:FurnitureFittings 2024-12-31 03225146 1 2024-12-31 03225146 bus:SmallEntities 2024-01-01 2024-12-31 03225146 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 03225146 bus:FilletedAccounts 2024-01-01 2024-12-31 03225146 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03225146 bus:RegisteredOffice 2024-01-01 2024-12-31 03225146 bus:Director2 2024-01-01 2024-12-31 03225146 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03225146 core:FurnitureFittings 2024-01-01 2024-12-31 03225146 countries:EnglandWales 2024-01-01 2024-12-31 03225146 1 2024-01-01 2024-12-31 03225146 2023-12-31 03225146 core:FurnitureFittings 2023-12-31 03225146 1 2023-12-31 03225146 2023-01-01 2023-12-31 03225146 2023-12-31 03225146 core:CurrentFinancialInstruments 2023-12-31 03225146 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03225146 core:FurnitureFittings 2023-12-31 03225146 1 2023-12-31 03225146 1 2023-01-01 2023-12-31 03225146 1 2022-12-31 xbrli:pure iso4217:GBP

Registration number: 03225146

Heddon Management Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2024

Heddon Management Limited

Contents

Statement of Financial Position | 1
Notes to the Unaudited Financial Statements | 2 to 6

Heddon Management Limited

(Registration number: 03225146)
Statement of Financial Position as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 157 | 209
Current assets |  |  |
Stocks |  | 564,751 | 560,217
Debtors | 5 | 60,481 | 63,410
Cash at bank and in hand |  | 138,369 | 143,467
|  | 763,601 | 767,094
Creditors: Amounts falling due within one year | 6 | (193,535) | (194,186)
Net current assets |  | 570,066 | 572,908
Net assets |  | 570,223 | 573,117
Capital and reserves |  |  |
Called up share capital |  | 646,002 | 646,002
Profit and loss account |  | (75,779) | (72,885)
Shareholders' funds |  | 570,223 | 573,117

For the financial 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.

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 and 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 Statement of Comprehensive Income.

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

Mr W F De Falbe Director

Heddon Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
26-28 Southernhay East
Exeter
Devon
EX1 1NS

Principal activity

The principal activity of the company is that of house builders and developers.

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 entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Turnover

Turnover represents the total value of goods, excluding value added tax, provided to customers during the year, plus the value of work, excluding value added tax, performed during the year with respect to services.

Heddon Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2 | Accounting policies (continued)

Taxation

The taxation expense represents the aggregate amount current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible fixed assets are stated at cost less accumulated depreciation.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,over the useful economic life of that asset as follows:

Asset class | Depreciation method and rate
Fittings, fixtures and equipment | 25% reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Heddon Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2 | Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support from the company's directors.
If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets as current assets.
The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

Heddon Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4 | Tangible assets

| Fixtures and fittings £ | Total £
Cost or valuation
At 1 January 2024 | 1,400 | 1,400
At 31 December 2024 | 1,400 | 1,400
Depreciation
At 1 January 2024 | 1,191 | 1,191
Charge for the year | 52 | 52
At 31 December 2024 | 1,243 | 1,243
Carrying amount
At 31 December 2024 | 157 | 157
At 31 December 2023 | 209 | 209

5 | Debtors

| 2024 £ | 2023 £
Other debtors | 60,481 | 63,410
| 60,481 | 63,410

6 | Creditors

Creditors: amounts falling due within one year

| 2024 £ | 2023 £
Due within one year |  |
Accruals and deferred income | 56,909 | 56,821
Other creditors | 136,626 | 137,365
| 193,535 | 194,186

7 | Reserves

Profit and loss account:
This reserve records retained earnings and accumulated losses.

Heddon Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

8 | Related party transactions

Transactions with directors

2024 | At 1 January 2024 £ | Advances to director £ | Repayments by director £ | At 31 December 2024 £
Directors | 43,308 | 862 | (1,000) | 43,170

2023 | At 1 January 2023 £ | Advances to director £ | At 31 December 2023 £
Directors | 42,559 | 749 | 43,308