1.
General Information
William Heath Estates Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
07414499
. The registered office is Unit 1 Kingsbury Works, Kingsbury Road, London, NW9 8UP.
2.
Accounting Policies
2.1.
Basis of Preparation of 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.
2.2.
Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3.
Investment Properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in The Profit and Loss Account.
2.4.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
4.
Investment Property
| 2025 | |
|---|---|
| £ | |
| Fair Value | |
| As at 1 April 2024 and 31 March 2025 |
|
Fair value at 31st March 2025 is represented by:
|
2025
|
|
|
£
|
|
|
Valuation in 2014
|
339,525
|
|
Cost
|
710,475
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|
|
1,050,000
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|
William Heath Estates Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
The investment property has been valued at the balance sheet date by the director, who believes the carrying value to be the fair value. There has been no valuation of investment property by an independent valuer.
5.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Corporation tax |
|
|
|
| Other creditors |
|
|
|
| Accruals and deferred income |
|
|
|
| Director's loan account |
|
|
|
|
|
|
||
6.
Creditors: Amounts Falling Due After More Than One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans - 2-5 years |
|
|
|
| Directors loan account |
|
|
|
|
|
|
||
There are no terms as to interest or repayment in respect of the director's loan account.
7.
Secured Creditors
Secured Creditors
During July 2020, William Heath Estate Limited borrowed £507,500 from Barclays Bank UK PLC. The loan is repayable over 5 years, with interest payable at 2.10% over Bank of England base rate. At the end of the loan term, the outstanding amount due under the loan will be repayable in full as a single payment unless a further facility is made available to the company.
The bank loan is secured by fixed and floating charges over the undertakings and freehold property for William Heath Estates Limited and Casablanca Marquees Limited.
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | 408,746 | 439,617 |
8.
Deferred Taxation
The provision for deferred tax is made up as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other timing differences | 84,881 | 84,881 | |
William Heath Estates Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
10.
Reserves
| Revaluation Reserve | |
|---|---|
| £ | |
| As at 1 April 2024 |
|
| As at 31 March 2025 |
|
11.
Related Party Transactions
Included in other creditors is a balance of £127,629 (2024 - £121,859) owed to Casablanca Marquees Ltd, a company under common control, owned and controlled by the director. There are no terms as to interest or repayment.
12.
Ultimate Controlling Party
Mr W Turnbull is the ultimate controlling party, by virtue of his 100% ownership of the voting share capital.