ACCOUNTS - Final Accounts

HEATH ENGINEERING (BEDFORD) LIMITED - Company Information

Caseware UK (AP4) 2020.0.247 2020.0.247 2021-03-312021-03-312020-04-01truefalseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01682772 2020-04-01 2021-03-31 01682772 2019-04-01 2020-03-31 01682772 2021-03-31 01682772 2020-03-31 01682772 c:Director1 2020-04-01 2021-03-31 01682772 d:PlantMachinery 2020-04-01 2021-03-31 01682772 d:PlantMachinery 2021-03-31 01682772 d:PlantMachinery 2020-03-31 01682772 d:PlantMachinery d:OwnedOrFreeholdAssets 2020-04-01 2021-03-31 01682772 d:FreeholdInvestmentProperty 2021-03-31 01682772 d:FreeholdInvestmentProperty 2020-03-31 01682772 d:CurrentFinancialInstruments 2021-03-31 01682772 d:CurrentFinancialInstruments 2020-03-31 01682772 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 01682772 d:CurrentFinancialInstruments d:WithinOneYear 2020-03-31 01682772 d:ShareCapital 2021-03-31 01682772 d:ShareCapital 2020-03-31 01682772 d:CapitalRedemptionReserve 2021-03-31 01682772 d:CapitalRedemptionReserve 2020-03-31 01682772 d:RetainedEarningsAccumulatedLosses 2021-03-31 01682772 d:RetainedEarningsAccumulatedLosses 2020-03-31 01682772 c:FRS102 2020-04-01 2021-03-31 01682772 c:AuditExempt-NoAccountantsReport 2020-04-01 2021-03-31 01682772 c:FullAccounts 2020-04-01 2021-03-31 01682772 c:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31 iso4217:GBP xbrli:pure

Registered number: 01682772

HEATH ENGINEERING (BEDFORD) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2021

HEATH ENGINEERING (BEDFORD) LIMITED

REGISTERED NUMBER: 01682772

BALANCE SHEET

AS AT 31 MARCH 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		21,777		25,620
Investment property	5		600,000		600,000
			621,777		625,620
Current assets
Debtors: amounts falling due within one year	6	69,410		80,935
Cash at bank and in hand	7	1,978		3,933
		71,388		84,868
Creditors: amounts falling due within one year	8	(109,388)		(128,568)
Net current liabilities			(38,000)		(43,700)
Total assets less current liabilities			583,777		581,920
Provisions for liabilities
Deferred tax		(11,016)		(10,423)
			(11,016)		(10,423)
Net assets			572,761		571,497

Capital and reserves
Called up share capital	50	50
Capital redemption reserve	50	50
Profit and loss account	572,661	571,397
	572,761	571,497

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

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HEATH ENGINEERING (BEDFORD) LIMITED

REGISTERED NUMBER: 01682772

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2021

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HEATH ENGINEERING (BEDFORD) LIMITED

REGISTERED NUMBER: 01682772

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2021

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

M J Barber

Director

Date: 2 February 2022

The notes on pages 4 to 8 form part of these financial statements.

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HEATH ENGINEERING (BEDFORD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1.	General information

Heath Engineering (Bedford) Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is 249 Silbury Boulevard, Milton Keynes, Bucks, MK9 1NA.
The Company's principal activity is that of property rental.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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HEATH ENGINEERING (BEDFORD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Plant and machinery

15% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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HEATH ENGINEERING (BEDFORD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 April 2020	167,009
	At 31 March 2021	167,009
	Depreciation
	At 1 April 2020	141,389
	Charge for the year on owned assets	3,843
	At 31 March 2021	145,232
	Net book value
	At 31 March 2021	21,777
	At 31 March 2020	25,620

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HEATH ENGINEERING (BEDFORD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2020	600,000
	At 31 March 2021	600,000

The 2021 valuations were made by the director, on an open market value for existing use basis.

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HEATH ENGINEERING (BEDFORD) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Debtors

					2021	2020
					£	£


Trade debtors	41,410	51,500
Amounts owed by joint ventures and associated undertakings	18,000	18,000
Other debtors	10,000	11,435
	69,410	80,935

7.	Cash and cash equivalents
		2021	2020
		£	£

	Cash at bank and in hand	1,978	3,933

8.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Corporation tax	635	2,739
Other creditors	107,253	124,329
Accruals and deferred income	1,500	1,500
	109,388	128,568

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