Heaver Trading Co Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03640040 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

FOR

HEAVER TRADING CO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C J Ellis

Mrs K J Kelly

Mrs M Ellis

K L Kirk

SECRETARY:

Mrs K J Kelly

REGISTERED OFFICE:

Ash Grange

Ash Road

Ash, Sevenoaks

Kent

TN15 7HJ

REGISTERED NUMBER:

03640040 (England and Wales)

ACCOUNTANTS:

Sargeant Partnership LLP

Chartered Accountants

5 White Oak Square

London Road

Swanley

Kent

BR8 7AG

FIXED ASSETS

Tangible assets

4

216,094

206,768

CURRENT ASSETS

Debtors

5

3,017

-

CREDITORS

Amounts falling due within one year

6

69,393

65,135

NET CURRENT LIABILITIES

(66,376

)

(65,135

)

TOTAL ASSETS LESS CURRENT LIABILITIES

149,718

141,633

PROVISIONS FOR LIABILITIES

1,876

662

NET ASSETS

147,842

140,971

CAPITAL AND RESERVES

Called up share capital

7

9

2

Retained earnings

8

147,833

140,969

SHAREHOLDERS' FUNDS

147,842

140,971

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 29 November 2021 and were signed on its behalf by:

C J Ellis - Director

1.	STATUTORY INFORMATION

Heaver Trading Co 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.

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

Turnover represents rental income of trading units.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Long leasehold

-

4% per annum on cost

Plant and machinery

-

10% per annum on cost

Motor vehicles

-

25% per annum on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

Long

to

property

leasehold

property

£

£

£

COST

At 1 November 2019

164,686

45,900

7,500

Additions

-

-

-

At 31 October 2020

164,686

45,900

7,500

DEPRECIATION

At 1 November 2019

-

31,303

1,500

Charge for year

-

584

750

At 31 October 2020

-

31,887

2,250

NET BOOK VALUE

At 31 October 2020

164,686

14,013

5,250

At 31 October 2019

164,686

14,597

6,000

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 November 2019

35,787

42,750

296,623

Additions

10,350

6,100

16,450

At 31 October 2020

46,137

48,850

313,073

DEPRECIATION

At 1 November 2019

28,380

28,672

89,855

Charge for year

1,350

4,440

7,124

At 31 October 2020

29,730

33,112

96,979

NET BOOK VALUE

At 31 October 2020

16,407

15,738

216,094

At 31 October 2019

7,407

14,078

206,768

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Motor

vehicles

£

COST

At 1 November 2019

24,250

Transfer to ownership

(24,250

)

At 31 October 2020

-

DEPRECIATION

At 1 November 2019

11,936

Transfer to ownership

(11,936

)

At 31 October 2020

-

NET BOOK VALUE

At 31 October 2020

-

At 31 October 2019

12,314

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

3,017

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

8,379

24,414

Taxation and social security

30,911

11,402

Other creditors

30,103

29,319

69,393

65,135

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

6

Ordinary Shares

£1

6

2

(2019 - 2 )

1

A Ordinary

£1

1

-

1

B Ordinary

£1

1

-

1

C Ordinary

£1

1

-

9

2

The following shares were issued during the year for cash at par :

5 Ordinary Shares shares of £1

1 B Ordinary share of £1

1 C Ordinary share of £1

8.

RESERVES

Retained

earnings

£

At 1 November 2019

140,969

Profit for the year

85,864

Dividends

(79,000

)

At 31 October 2020

147,833

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

10.	ULTIMATE CONTROLLING PARTY