REGISTERED NUMBER: 03789369 (England and Wales)

HEARTLANDS FURNITURE (WHOLESALE) LIMITED

Report of the Director and

Financial Statements

for the Year Ended 31 August 2025

Page

Company Information

1

Report of the Director

2

Accountants' Report

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

6

Director:

S Shareef

Registered office:

Heartlands House

Cranford Street

Smethwick

West Midlands

B66 2TA

Registered number:

03789369 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Cubo Birmingham

Office 401, 4th Floor

Two Chamberlain Square

Birmingham

B3 3AX

The director presents his report with the financial statements of the company for the year ended 31 August 2025.

Principal activity

The principal activity of the company in the year under review was that of wholesale furniture and storage facilities.

Directors

S Shareef has held office during the whole of the period from 1 September 2024 to the date of this report.

Other changes in directors holding office are as follows:

T Shareef - resigned 18 February 2025

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:

S Shareef - Director

31 August 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Heartlands Furniture (Wholesale) Limited for the year ended 31 August 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the director of Heartlands Furniture (Wholesale) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Heartlands Furniture (Wholesale) Limited and state those matters that we have agreed to state to the director of Heartlands Furniture (Wholesale) Limited in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Heartlands Furniture (Wholesale) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Heartlands Furniture (Wholesale) Limited. You consider that Heartlands Furniture (Wholesale) Limited 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 financial statements of Heartlands Furniture (Wholesale) Limited. 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 statutory financial statements.

Cooper Parry Advisory Limited

Cubo Birmingham

Office 401, 4th Floor

Two Chamberlain Square

Birmingham

B3 3AX

31 August 2026

Turnover

4,301,743

4,916,061

Cost of sales

(2,446,159

)

(2,950,917

)

Gross profit

1,855,584

1,965,144

Distribution costs

(261,662

)

(269,391

)

Administrative expenses

(1,342,833

)

(1,354,576

)

Operating profit

251,089

341,177

Interest receivable and similar income

8,961

-

260,050

341,177

Interest payable and similar expenses

(15,450

)

(32,328

)

Profit before taxation

244,600

308,849

Tax on profit

48,015

(96,028

)

Profit for the financial year

292,615

212,821

Fixed assets

Tangible assets

4

615,460

610,812

Current assets

Stocks

5

4,036,798

3,713,772

Debtors

6

1,564,683

1,303,802

Cash at bank and in hand

314,731

269,207

5,916,212

5,286,781

Creditors

Amounts falling due within one year

7

(3,303,579

)

(2,814,086

)

Net current assets

2,612,633

2,472,695

Total assets less current liabilities

3,228,093

3,083,507

Creditors

Amounts falling due after more than one year

8

(1,056,000

)

(483,378

)

Provisions for liabilities

(153,865

)

(274,516

)

Net assets

2,018,228

2,325,613

Capital and reserves

Called up share capital

99

99

Retained earnings

2,018,129

2,325,514

Shareholders' funds

2,018,228

2,325,613

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 31 August 2026 and were signed by:

S Shareef - Director

1.	Statutory information

Heartlands Furniture (Wholesale) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's registered number is disclosed on the balance sheet and the registered office address is Heartlands House, Cranford Street, Smethwick, United Kingdom, B66 2TA.

The financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for the year ended 31 August 2025 (2024: year ended 31 August 2024).

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.

Turnover

The company recognises revenue when it transfers control over goods to a customer. Turnover is measured at the fair value of the consideration received or receivable and is presented net of Value Added Tax (VAT), rebates and discounts.

Tangible fixed assets

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

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties and loans with related parties.

All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs

The company contributes to defined contribution pension plans for its employees. A defined contribution pension plan is a plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid are shown in creditors as a liability on the Balance Sheet. The assets of the pension plans are held separately from the company in independently administered funds.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

3.	Employees and directors

The average number of employees during the year was 32 (2024 - 35 ) .

4.	Tangible fixed assets

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

Cost

At 1 September 2024

1,041,727

170,050

1,211,777

Additions

137,599

7,469

145,068

Disposals

(174,877

)

-

(174,877

)

At 31 August 2025

1,004,449

177,519

1,181,968

Depreciation

At 1 September 2024

495,388

105,577

600,965

Charge for year

60,734

6,662

67,396

Eliminated on disposal

(101,853

)

-

(101,853

)

At 31 August 2025

454,269

112,239

566,508

Net book value

At 31 August 2025

550,180

65,280

615,460

At 31 August 2024

546,339

64,473

610,812

5.

Stocks

2025

2024

£

£

Stocks

4,036,798

3,713,772

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

837,736

873,429

Amounts owed by participating interests

-

1,604

Other debtors

136,766

183,096

Amounts due from former

shareholder

170,605

-

Directors' current accounts

283,352

183,306

Tax

69,095

-

Prepayments and accrued income

67,129

62,367

1,564,683

1,303,802

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

79,156

100,000

Hire purchase contracts

32,999

98,667

Trade creditors

1,946,180

1,973,361

Amounts owed to participating interests

129,168

-

Tax

169,153

150,544

Social security and other taxes

15,540

12,919

VAT

812,951

420,005

Other creditors

102,164

27,232

Accruals and deferred income

16,268

31,358

3,303,579

2,814,086

8.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Bank loans - 1-2 years

79,156

100,000

Bank loans - 2-5 years

567,704

16,667

Hire purchase contracts

104,553

7,124

Other creditors > 1 year

304,587

359,587

1,056,000

483,378

The hire purchase assets are secured against the assets to which they relate.

9.	Secured debts

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

726,016

216,667

The bank loans are secured by a fixed charge over the company's assets.

10.	Directors' advances, credits and guarantees

At the year end there was an amount due from the director to the company of £283,352.

11.	Parent company

The company is a wholly owned subsidiary of Heartlands Topco Ltd, a company incorporated in England & Wales whose registered office address is Heartlands House, Cranford Street, Smethwick, B66 2TA.

The ultimate parent company is Saiz Group Limited. The ultimate controlling party is S Shareef by virtue of his shareholding of the group.