REGISTERED NUMBER: 04577387 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

HEATHS LIMITED

Page

Chartered Certified Accountants' Report

1

Balance Sheet

2

Notes to the Financial Statements

4

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.

You have acknowledged on the balance sheet as at 31 January 2025 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. 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.

R F Miller & Co

Double Tree Court

10A Cavendish St

Ulverston

Cumbria

LA12 7AD

Date: .............................................

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,591

802

2,591

802

CURRENT ASSETS

Stocks

27,500

34,000

Debtors

6

124,168

131,674

Cash at bank and in hand

17,387

1,216

169,055

166,890

CREDITORS

Amounts falling due within one year

7

122,456

150,354

NET CURRENT ASSETS

46,599

16,536

TOTAL ASSETS LESS CURRENT LIABILITIES

49,190

17,338

CREDITORS

Amounts falling due after more than one year

8

38,763

25,453

NET ASSETS/(LIABILITIES)

10,427

(8,115

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

10,327

(8,215

)

SHAREHOLDERS' FUNDS

10,427

(8,115

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2025 and were signed by:

Mr P J Heath - Director

1.	STATUTORY INFORMATION

Heaths Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04577387

Registered office:

76 Dalton Road

Barrow-in-furness

Cumbria

LA14 1JE

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

STOCKS

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

Stocks and work in progress are stated at the lower of cost and estimated costs to complete and sell, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Estimated selling price less costs to complete and sell is based on the estimated selling price of the goods less any estimated completion or selling costs likely to be incurred on the sale.

PENSION COSTS AND OTHER POST-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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

80,000

AMORTISATION

At 1 February 2024

and 31 January 2025

80,000

NET BOOK VALUE

At 31 January 2025

-

At 31 January 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 February 2024

23,756

Additions

2,034

At 31 January 2025

25,790

DEPRECIATION

At 1 February 2024

22,954

Charge for year

245

At 31 January 2025

23,199

NET BOOK VALUE

At 31 January 2025

2,591

At 31 January 2024

802

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

33,660

22,651

Other debtors

22,442

22,442

Directors' current accounts

67,009

85,736

Prepayments and accrued income

1,057

845

124,168

131,674

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

15,335

37,313

Trade creditors

43,815

60,810

Corporation tax

3,748

524

Social security and other taxes

12,417

5,274

VAT

16,142

9,692

Credit card account

30,585

36,510

Accrued expenses

414

231

122,456

150,354

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

5,000

5,000

Bounceback loan 1-2 years

6,964

10,335

Bank loans - 2-5 years

26,799

3,208

Bounceback loan 2-5 years

-

6,910

38,763

25,453

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

ordinary

1

100

100

10.

RESERVES

Retained

earnings

£

At 1 February 2024

(8,215

)

Profit for the year

19,542

Dividends

(1,000

)

At 31 January 2025

10,327

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within debtors is an amount owed to the company of £67,009. (2024: £85,736). The maximum overdrawn balance in the year was £67,009.

12.	RELATED PARTY DISCLOSURES

The company operates from premises owned personally by the director and rent of £14,400 was paid to him during the year (2024: £14,400).

During the year Mr & Mrs P Heath jointly received a dividend of £1,000 (2024:- £nil).

13.	ULTIMATE CONTROLLING PARTY

The company was under the control of Mr P J Heath throughout the current and previous periods. Mr Heath is the managing director and together with members of his immediate family owns all of the company's issued share capital.