Heymaa Watford Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02911868 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

HEYMAA WATFORD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J V Patel

Mr S V Patel

Ms Y J Patel

Mr S S Patel

REGISTERED OFFICE:

Best Western

Whitehouse Hotel

27-31 Upton Road

Watford

Hertfordshire

WD18 0JF

REGISTERED NUMBER:

02911868 (England and Wales)

ACCOUNTANTS:

Macalvins Limited

Chartered Accountants

7 St John's Road

Harrow

Middlesex

HA1 2EY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,536,102

2,626,509

2,536,102

2,626,509

CURRENT ASSETS

Stocks

1,450

1,325

Debtors

6

21,506

18,874

Cash at bank and in hand

258,021

850,197

280,977

870,396

CREDITORS

Amounts falling due within one year

7

1,118,137

886,980

NET CURRENT LIABILITIES

(837,160

)

(16,584

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,698,942

2,609,925

CREDITORS

Amounts falling due after more than one year

8

(994,041

)

(1,044,255

)

PROVISIONS FOR LIABILITIES

(36,043

)

(42,268

)

NET ASSETS

668,858

1,523,402

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

667,858

1,522,402

668,858

1,523,402

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 27 March 2024 and were signed on its behalf by:

Mr S V Patel - Director

Mr J V Patel - Director

1.	STATUTORY INFORMATION

Heymaa Watford 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Going Concern

The financial statements have been prepared on a going concern basis not withstanding the company's net current liabilities position as at the year end. The directors and the connected companies have provided the company with and undertaking that they will continue to support financially for the foreseeable future and that they will not seek repayment of the amounts currently owing to them in the twelve months from the date of signing the financial statements.

Turnover

Turnover represents sale of services. The following criteria must also be met before revenue is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- The amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Freehold property

-

2% Straight line

Plant and machinery

-

15% reducing balance

Fixtures and fittings

-

15% reducing balance

Integral features

-

15% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial assets and liabilities are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2022

and 30 June 2023

70,000

AMORTISATION

At 1 July 2022

and 30 June 2023

70,000

NET BOOK VALUE

At 30 June 2023

-

At 30 June 2022

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Integral

property

machinery

fittings

features

Totals

£

£

£

£

£

COST

At 1 July 2022

and 30 June 2023

2,846,552

126,764

381,835

79,982

3,435,133

DEPRECIATION

At 1 July 2022

443,220

73,903

253,121

38,380

808,624

Charge for year

56,931

7,929

19,307

6,240

90,407

At 30 June 2023

500,151

81,832

272,428

44,620

899,031

NET BOOK VALUE

At 30 June 2023

2,346,401

44,932

109,407

35,362

2,536,102

At 30 June 2022

2,403,332

52,861

128,714

41,602

2,626,509

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,130

1,128

Other debtors

20,376

17,746

21,506

18,874

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

68,879

85,259

Trade creditors

42,988

34,042

Amounts owed to associated company

786,085

586,085

Taxation and social security

217,435

178,094

Other creditors

2,750

3,500

1,118,137

886,980

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

994,041

1,044,255

The bank loan is secured by way of fixed and floating charges over the assets of the company. The first legal charge is against the Freehold Property and floating charge covers all the property or the undertaking of the company.

9.	RELATED PARTY DISCLOSURES

Included in creditors as at year end is £786,085 (2022: £586,085), an amount owed to Heymaa Limited. The loan is interest free and repayable on demand. The above company is connected by virtue of having common directors.