REGISTERED NUMBER: 01604821 (England and Wales) |
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HEATON HOLDINGS LIMITED |
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REPORT OF THE DIRECTORS AND |
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CONSOLIDATED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2021 |
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REGISTERED NUMBER: 01604821 (England and Wales) |
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HEATON HOLDINGS LIMITED |
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REPORT OF THE DIRECTORS AND |
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CONSOLIDATED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2021 |
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HEATON HOLDINGS LIMITED (REGISTERED NUMBER: 01604821) |
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CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2021 |
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Page |
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Company Information | 1 |
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Report of the Directors | 2 |
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Report of the Independent Auditors | 3 |
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Consolidated Income Statement | 7 |
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Consolidated Balance Sheet | 8 |
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Company Balance Sheet | 9 |
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Notes to the Consolidated Financial Statements | 10 |
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HEATON HOLDINGS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditors |
Station House |
North Street |
Havant |
Hampshire |
PO9 1QU |
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BANKERS: | Lloyds Bank PLC |
SME Client Services |
2 Bankhead Crossway North |
Edinburgh |
EH11 4DT |
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SOLICITORS: |
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New Kings Court |
Tollgate |
Chandler's Ford |
Eastleigh |
Hampshire |
SO53 3LG |
HEATON HOLDINGS LIMITED (REGISTERED NUMBER: 01604821) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 APRIL 2021 |
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The directors present their report with the financial statements of the company and the group for the year ended 30 April 2021. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 May 2020 to the date of this report. |
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POLITICAL DONATIONS AND EXPENDITURE |
During the year a political donation of £Nil (2020: £4,000) was made to the Conservative Party. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
HEATON HOLDINGS LIMITED |
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Opinion |
We have audited the financial statements of Heaton Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2021 which comprise the Consolidated Income Statement, Consolidated Balance Sheet, Company Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
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In our opinion the financial statements: |
- | give a true and fair view of the state of the group's and of the parent company affairs as at 30 April 2021 and of the group's profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
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Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
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Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
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Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
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Other information |
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
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Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
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In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
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Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Directors has been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
HEATON HOLDINGS LIMITED |
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Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors. |
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We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the parent company financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
- | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Directors. |
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Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
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In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
HEATON HOLDINGS LIMITED |
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Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
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Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
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From discussions with the directors, information about Heaton Holdings Limited ('the parent company') and its subsidiaries, Heaton Property Investments Limited and Strand Harbour Securities Limited ('the subsidiaries' and collectively with Heaton Holdings Limited, 'the group'), are documented to assess the activity within the organisations. We discuss management's assessment of risk in respect of irregularities, fraud and going concern. We have audited the financial statements of the parent company and its subsidiaries. |
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Based on these discussions and our own assessments we determined that the key risk areas in the parent company were existence and valuation of investments and management override. The key risk areas of the subsidiaries have been detailed in their respective audit reports. |
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We set financial statement materiality level in the parent company based on the level of net assets on the balance sheet at the planning stage. As an investment company, the asset position was used to determine the level of materiality. |
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We set group materiality level based on the net assets on the balance sheet at the planning stage. As a group of investment companies, the asset position was used to determine the level of materiality, ensuring this was greater than any component materiality level. |
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Substantive audit tests were designed after assessing and testing systems and controls. The systems and controls which have been designed to act as a preventative measure against fraud and error were operating as documented. Substantive testing tested a sample of the population, representative of the population, to identify errors. The testing did not identify any material misstatements for the parent company nor the group. |
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Audit substantive tests concluded no material errors over the key risk areas of existence and valuation of investments and management override for the parent company. The results for the key risk areas of the subsidiaries have been detailed in their respective audit reports. |
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The audit considers the parent company and the group is not exposed to material risk of error as a result of assessing laws and regulations that are appropriate to the group. |
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The directors have assessed there is no going concern risk to the parent company and the group. The audit undertook a review of the group's financial statements, budgets, management accounts and collected representations from the directors and came to the same conclusion as the directors. |
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A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
HEATON HOLDINGS LIMITED |
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Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
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for and on behalf of
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Chartered Accountants |
Statutory Auditors |
Station House |
North Street |
Havant |
Hampshire |
PO9 1QU |
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HEATON HOLDINGS LIMITED (REGISTERED NUMBER: 01604821) |
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CONSOLIDATED |
INCOME STATEMENT |
FOR THE YEAR ENDED 30 APRIL 2021 |
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2021 | 2020 |
Notes | £ | £ |
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INCOME | 2,236,073 | 518,434 |
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Cost of sales | 71,435 | 76,134 |
GROSS PROFIT | 2,164,638 | 442,300 |
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Administrative expenses | 715,474 | 619,473 |
1,449,164 | (177,173 | ) |
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Other operating income | 173 | - |
1,449,337 | (177,173 | ) |
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Gain/loss on revaluation of |
investment property | 161,252 | (10,074 | ) |
PROFIT/(LOSS) BEFORE TAXATION | 1,610,589 | (187,247 | ) |
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Tax on profit/(loss) | 285,247 | (45,121 | ) |
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR |
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Profit/(loss) attributable to: |
Owners of the parent | 1,325,342 | (142,126 | ) |
HEATON HOLDINGS LIMITED (REGISTERED NUMBER: 01604821) |
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CONSOLIDATED BALANCE SHEET |
30 APRIL 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 | 363,553 | 374,984 |
Investments | 7 | 483,919 | 497,334 |
Investment property | 8 | 6,625,000 | 6,450,000 |
7,472,472 | 7,322,318 |
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CURRENT ASSETS |
Debtors | 9 | 50,464 | 82,311 |
Investments | 10 | 9,283,520 | 7,532,992 |
Cash at bank and in hand | 981,041 | 1,216,475 |
10,315,025 | 8,831,778 |
CREDITORS |
Amounts falling due within one year | 11 | 351,173 | 322,161 |
NET CURRENT ASSETS | 9,963,852 | 8,509,617 |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
17,436,324 |
15,831,935 |
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PROVISIONS FOR LIABILITIES | 12 | 513,350 | 234,302 |
NET ASSETS | 16,922,974 | 15,597,633 |
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CAPITAL AND RESERVES |
Called up share capital | 13 | 139,711 | 139,711 |
Other reserves | 16,891 | 16,891 |
Retained earnings | 16,766,372 | 15,441,031 |
SHAREHOLDERS' FUNDS | 16,922,974 | 15,597,633 |
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
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The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2021 and were signed on its behalf by: |
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D G Hosier FCCA - Director |
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HEATON HOLDINGS LIMITED (REGISTERED NUMBER: 01604821) |
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COMPANY BALANCE SHEET |
30 APRIL 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 | 363,552 | 374,985 |
Investments | 7 |
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Investment property | 8 |
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CURRENT ASSETS |
Debtors | 9 |
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Investments | 10 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 11 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 12 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 13 |
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Other reserves |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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Company's profit/(loss) for the financial
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1,132,564 |
(143,094 |
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The financial statements were approved by the Board of Directors and authorised for issue on
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HEATON HOLDINGS LIMITED (REGISTERED NUMBER: 01604821) |
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2021 |
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1. | STATUTORY INFORMATION |
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Heaton Holdings Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. |
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Basis of consolidation |
The group accounts consolidate the accounts of Heaton Holdings Limited and all its subsidiary companies. |
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Income |
Income is represented by the amounts derived from the group's various investments and its management charges receivable for the year, excluding value added tax. |
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Tangible fixed assets |
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Freehold property | - |
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Improvements to property | - |
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Plant and machinery | - |
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Tangible fixed assets are initially measured at cost. |
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A review for impairment of fixed assets is carried out if events or changes in circumstances indicate that the carrying amount of the fixed asset many not be recoverable. |
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Included within freehold property is the cost of acquisition of land. This has not been depreciated in the accounts. |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares. |
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Trade and other 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 |
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Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities. |
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Trade and other creditors |
Short term trade 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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HEATON HOLDINGS LIMITED (REGISTERED NUMBER: 01604821) |
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2021 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences at the balance sheet date, except as otherwise required in the paragraphs below. |
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Unrelieved 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. |
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Deferred tax shall not be recognised on permanent differences, other than a business combination where assets (other than goodwill) give rise to an deferred tax asset or liability. |
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Investment property |
These represent properties held by the group for their investment potential. They are included in the balance sheet at market value as determined by the directors. No depreciation is provided in respect of investment properties, and movements in the fair value of investment properties are recognised in the profit and loss account. |
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Current asset investments |
Listed current asset investments are marked to market value at the balance sheet date and the difference between cost and market value is taken to the profit and loss account. |
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Unlisted investments |
Unlisted investments are measured initially at cost. At the end of each reporting period, the unlisted investments are assessed to determine if there is objective evidence of impairment. If so, an impairment loss is recognised in the profit or loss immediately. |
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3. | EMPLOYEES AND DIRECTORS |
2021 | 2020 |
£ | £ |
Wages and salaries |
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Social security costs |
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Other pension costs |
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The average number of employees during the year was as follows: |
2021 | 2020 |
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Management, clerical and administrative |
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4. | PROFIT OF PARENT COMPANY |
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As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
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HEATON HOLDINGS LIMITED (REGISTERED NUMBER: 01604821) |
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2021 |
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5. | DIVIDENDS |
2021 | 2020 |
£ | £ |
Ordinary shares of £1 each |
Interim |
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6. | TANGIBLE FIXED ASSETS |
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Group |
Improvements |
Freehold | to | Plant and |
property | property | machinery | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2020 |
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132,014 | 755,099 |
Additions |
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4,345 | 4,345 |
Disposals |
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At 30 April 2021 |
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135,033 | 758,118 |
DEPRECIATION |
At 1 May 2020 |
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125,258 | 380,115 |
Charge for year | 10,001 | 2,311 | 3,258 | 15,570 |
Eliminated on disposal |
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( |
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At 30 April 2021 |
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127,396 | 394,565 |
NET BOOK VALUE |
At 30 April 2021 |
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7,637 | 363,553 |
At 30 April 2020 | 364,358 | 3,870 | 6,756 | 374,984 |
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Included in cost of land and buildings is freehold land of £75,000 (2020 - £75,000) which is not depreciated. |
HEATON HOLDINGS LIMITED (REGISTERED NUMBER: 01604821) |
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2021 |
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6. | TANGIBLE FIXED ASSETS - continued |
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Company |
Improvements |
Freehold | to | Plant and |
property | property | machinery | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2020 |
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114,725 | 737,810 |
Additions |
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4,344 | 4,344 |
Disposals |
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( |
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At 30 April 2021 |
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117,743 | 740,828 |
DEPRECIATION |
At 1 May 2020 |
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107,968 | 362,825 |
Charge for year | 10,001 | 2,311 | 3,259 | 15,571 |
Eliminated on disposal |
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( |
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At 30 April 2021 |
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110,107 | 377,276 |
NET BOOK VALUE |
At 30 April 2021 |
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7,636 | 363,552 |
At 30 April 2020 | 364,358 | 3,870 | 6,757 | 374,985 |
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Included in cost of land and buildings is freehold land of £ 75,000 (2020 - £ 75,000 ) which is not depreciated. |
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7. | FIXED ASSET INVESTMENTS |
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Group | Company |
2021 | 2020 | 2021 | 2020 |
£ | £ | £ | £ |
Shares in group undertakings | - | - |
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Other investments not loans | 170,253 | 170,253 |
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Other loans | 313,666 | 327,081 |
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483,919 | 497,334 |
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Additional information is as follows: |
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Group |
Other |
investments |
£ |
COST |
At 1 May 2020 |
and 30 April 2021 | 170,253 |
NET BOOK VALUE |
At 30 April 2021 | 170,253 |
At 30 April 2020 | 170,253 |
HEATON HOLDINGS LIMITED (REGISTERED NUMBER: 01604821) |
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2021 |
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7. | FIXED ASSET INVESTMENTS - continued |
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Company |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1 May 2020 |
and 30 April 2021 |
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226,687 |
NET BOOK VALUE |
At 30 April 2021 |
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226,687 |
At 30 April 2020 |
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226,687 |
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The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Subsidiaries |
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Registered office: Heaton House, Cams Estate, Fareham, Hampshire, PO16 8AA |
Nature of business:
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% |
Class of shares: | holding |
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Registered office: Heaton House, Cams Estate, Fareham, Hampshire, PO16 8AA |
Nature of business:
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% |
Class of shares: | holding |
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Group |
Other |
loans |
£ |
At 1 May 2020 | 327,081 |
Repayment in year | (13,415 | ) |
At 30 April 2021 | 313,666 |
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Company |
Other |
loans |
£ |
At 1 May 2020 |
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Repayment in year | ( |
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At 30 April 2021 |
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HEATON HOLDINGS LIMITED (REGISTERED NUMBER: 01604821) |
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2021 |
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8. | INVESTMENT PROPERTY |
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Group |
Total |
£ |
FAIR VALUE |
At 1 May 2020 | 6,450,000 |
Additions | 13,748 |
Revaluations | 161,252 |
At 30 April 2021 | 6,625,000 |
NET BOOK VALUE |
At 30 April 2021 | 6,625,000 |
At 30 April 2020 | 6,450,000 |
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Fair value at 30 April 2021 is represented by: |
£ |
Valuation in 2021 | 1,680,907 |
Cost | 4,944,093 |
6,625,000 |
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The investment properties were valued by Mr W E F Whyte BSc, who is a director of Heaton Property Investments Limited. The valuation was based on the market value of investment properties at 30 April 2021. |
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Company |
Total |
£ |
FAIR VALUE |
At 1 May 2020 |
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Additions |
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Revaluations | (52,998 | ) |
At 30 April 2021 |
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NET BOOK VALUE |
At 30 April 2021 |
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At 30 April 2020 |
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Fair value at 30 April 2021 is represented by: |
£ |
Valuation in 2021 | (40,384 | ) |
Cost | 640,384 |
600,000 |
|
The investment properties were valued by Mr W E F Whyte BSc, who is a director of Heaton Property Investments Limited. The valuation was based on the market value of investment properties at 30 April 2021 |
HEATON HOLDINGS LIMITED (REGISTERED NUMBER: 01604821) |
|
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2021 |
|
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
Group | Company |
2021 | 2020 | 2021 | 2020 |
£ | £ | £ | £ |
Other debtors | 7,166 | 18,893 |
|
|
Amounts owed by subsidiary |
undertakings | - | - | 202,816 | 419,921 |
Corporation tax recoverable | - | 1,291 |
|
|
Prepayments and accrued income | 43,298 | 62,127 |
|
|
50,464 | 82,311 |
|
|
|
10. | CURRENT ASSET INVESTMENTS |
|
Group | Company |
Listed investments | Total | Total |
£ | £ |
|
Valuation as at 1 May 2020 | 7,532,993 | 7,532,993 |
|
Additions | 2,462,883 | ,2,462,883 |
Disposals | (2,246,987 | ) | (2,246,987 | ) |
Gain on disposal | 77,180 | 77,180 |
Marked to market value | 1,457,451 | 1,457,451 |
|
Valuation as at 30 April 2021 | 9,283,520 | 9,283,520 |
|
The fair value of current asset investments is determined by quoted market prices in active markets. |
|
Changes in fair value attributable to credit risk of the underlying instrument cannot be measured reliably, and therefore has not been disclosed separately. |
|
The main risk arising from the company's listed investments is market risk. This risk is managed by a diversified portfolio and active fund management by a professional third party. |
|
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
Group | Company |
2021 | 2020 | 2021 | 2020 |
£ | £ | £ | £ |
Social security and other taxes | 84,794 | 53,369 |
|
|
Other creditors | 120,777 | 121,635 |
|
|
Amounts owed to subsidiary |
undertakings | - | - | 86,789 | 97,251 |
Accrued expenses | 145,602 | 147,157 |
|
|
351,173 | 322,161 |
|
|
|
12. | PROVISIONS FOR LIABILITIES |
|
Group | Company |
2021 | 2020 | 2021 | 2020 |
£ | £ | £ | £ |
Deferred tax | 513,350 | 234,302 | 434,163 | 178,781 |
HEATON HOLDINGS LIMITED (REGISTERED NUMBER: 01604821) |
|
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2021 |
|
12. | PROVISIONS FOR LIABILITIES - continued |
|
Group |
Deferred |
tax |
£ |
Balance at 1 May 2020 | 234,302 |
Accelerate capital allowances | 506 |
Fair valuation | 274,122 |
Losses available | 4,420 |
Balance at 30 April 2021 | 513,350 |
|
Company |
Deferred |
tax |
£ |
Balance at 1 May 2020 |
|
Accelerated capital allowances | 506 |
Fair valuation | 250,382 |
Losses available | 4,494 |
Balance at 30 April 2021 |
|
|
13. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
|
Ordinary | £1 | 139,711 | 139,711 |
|
14. | CONTROLLING PARTY |
|
The group is controlled by and is a wholly owned subsidiary of Heaton Consolidated Property Holdings Limited, a company registered in England and Wales. Accounts for that company are available from Heaton House, Cams Estate, Fareham, Hampshire, PO16 8AA. |