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Company No: 04681692 (England and Wales)

# HEAVER COMMERCIAL LIMITED

### Unaudited Financial Statements
For the financial year ended 28 February 2026
Pages for filing with the registrar

HEAVER COMMERCIAL LIMITED

## Unaudited Financial Statements

For the financial year ended 28 February 2026

Contents

HEAVER COMMERCIAL LIMITED

## COMPANY INFORMATION

For the financial year ended 28 February 2026
HEAVER COMMERCIAL LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 28 February 2026

DIRECTORS | J P Heaver
| E J Heaver

SECRETARY | E J Heaver

REGISTERED OFFICE | 22 Chancery Lane
| London
| WC2A 1LS
| United Kingdom

COMPANY NUMBER | 04681692 (England and Wales)

HEAVER COMMERCIAL LIMITED

## BALANCE SHEET

As at 28 February 2026
HEAVER COMMERCIAL LIMITED

## BALANCE SHEET (continued)

As at 28 February 2026

| Note | 2026 |  | 2025
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 221 |  | 295
Investment property | 4 | 7,344,500 |  | 8,612,500
|  | 7,344,721 |  | 8,612,795
Current assets |  |  |  |
Debtors | 5 | 141,170 |  | 143,628
Cash at bank and in hand |  | 393,754 |  | 796,742
|  | 534,924 |  | 940,370
Creditors: amounts falling due within one year | 6 | ( 5,460,602) |  | ( 5,962,703)
Net current liabilities |  | (4,925,678) |  | (5,022,333)
Total assets less current liabilities |  | 2,419,043 |  | 3,590,462
Creditors: amounts falling due after more than one year | 7 | ( 1,730,000) |  | ( 1,480,000)
Provision for liabilities | 8 | ( 6,403) |  | ( 393,465)
Net assets |  | 682,640 |  | 1,716,997
Capital and reserves |  |  |  |
Called-up share capital |  | 1 |  | 1
Profit and loss account |  | 682,639 |  | 1,716,996
Total shareholders' funds |  | 682,640 |  | 1,716,997

For the financial year ending 28 February 2026 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 financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Heaver Commercial Limited (registered number: 04681692) were approved and authorised for issue by the Board of Directors on 20 June 2026. They were signed on its behalf by:

J P Heaver Director |

HEAVER COMMERCIAL LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2026
HEAVER COMMERCIAL LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2026

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Heaver Commercial Limited (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 22 Chancery Lane, London, WC2A 1LS, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

##### Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the going concern basis has continued to be adopted in preparing the annual report and accounts.

##### Turnover

Turnover represents rental income receivable for the period from the company's properties. Income is recognised over the period of the lease term.

##### Taxation

Current tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition an installation.

Plant and machinery etc. | 25 % reducing balance

##### Borrowing costs

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss over the period of the relevant borrowing.
Interest expense if recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

##### Investment property

Investment properties are carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. Changes in fair value are recognised in profit or loss.

##### Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

#### 2. Employees

| 2026 |  | 2025
| Number |  | Number
Monthly average number of persons employed by the company during the year, including directors | 3 |  | 3

#### 3. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 March 2025 | 1,244 |  | 1,244
At 28 February 2026 | 1,244 |  | 1,244
Accumulated depreciation |  |  |
At 01 March 2025 | 949 |  | 949
Charge for the financial year | 74 |  | 74
At 28 February 2026 | 1,023 |  | 1,023
Net book value |  |  |
At 28 February 2026 | 221 |  | 221
At 28 February 2025 | 295 |  | 295

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 March 2025 | 8,612,500
Additions | 203,819
Fair value movement | (1,461,819)
Disposals | (10,000)
As at 28 February 2026 | 7,344,500

The investment properties are held at fair value, based on a valuation made by Mr J P Heaver (MRICS), a director, at 28 February 2026, with changes in fair value being recognised in the Profit and Loss Account.
The historic cost of the investment properties is £7,319,111 (2025 - £6,958,183).

#### 5. Debtors

| 2026 |  | 2025
| £ |  | £
Trade debtors | 2,540 |  | 4,011
Amounts owed by group undertakings (note 9) | 109,368 |  | 112,135
Other debtors | 29,262 |  | 27,482
| 141,170 |  | 143,628

#### 6. Creditors: amounts falling due within one year

| 2026 |  | 2025
| £ |  | £
Trade creditors | 38,199 |  | 33,261
Taxation and social security | 28,169 |  | 23,695
Other creditors | 5,394,234 |  | 5,905,747
| 5,460,602 |  | 5,962,703

#### 7. Creditors: amounts falling due after more than one year

| 2026 |  | 2025
| £ |  | £
Bank loans | 730,000 |  | 730,000
Amounts owed to related parties (note 9) | 1,000,000 |  | 750,000
| 1,730,000 |  | 1,480,000

The bank loans are secured by charges over some of the company's investment property and a director's guarantee. The amounts owed to related parties of £1,000,000 relate to a loan secured by a charge over an investment property owned by the company.

#### 8. Deferred tax

| 2026 |  | 2025
| £ |  | £
At the beginning of financial year | ( 393,465) |  | ( 531,257)
Credited to the Profit and Loss Account | 387,062 |  | 137,792
At the end of financial year | ( 6,403) |  | ( 393,465)

#### 9. Related party transactions

Transactions with the entity's directors

During the year, amounts totalling £14,255 (2025- £nil) and £nil (2025 - £900,000) were loaned to the company by J P Heaver and E J Heaver, and amounts totalling £474,052 (2025 - £28,240) and £50,700 (2025 - £14,800) were repaid by the company to its directors, J P Heaver and E J Heaver respectively. At the balance sheet date, the amount due to J P Heaver was £4,522,430 (2025 - 4,982,227) and the amount due to E J Heaver was £834,500 (2025 - £885,200). These loans are interest free and repayable on demand.