Registered number
10609254
T Neal Heating Limited
Report and Unaudited Accounts
28 February 2022
T Neal Heating Limited
Report and accounts
Contents
Page
Company information 1
Director's report 2
Chartered Accountants' report 3
Profit and loss account 4
Balance sheet 5
Statement of changes in equity 6
Notes to the accounts 7
T Neal Heating Limited
Company Information
Director
T Neal
Accountants
Trueman Brown
7 Foxglove Road
South Ockendon
Essex
RM15 6EU
Registered office
55 Church Road
Bulphan
Essex
RM14 3RT
Registered number
10609254
T Neal Heating Limited
Registered number: 10609254
Director's Report
The director presents his report and accounts for the year ended 28 February 2022.
Principal activities
The company's principal activity during the year continued to be that of a plumbing and heating engineer.
Directors
The following persons served as directors during the year:
T Neal
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 10 August 2022 and signed on its behalf.
T Neal
Director
T Neal Heating Limited
Profit and Loss Account
for the year ended 28 February 2022
2022 2021
£ £
Turnover 67,588 71,128
Cost of sales (10,973) (12,677)
Gross profit 56,615 58,451
Administrative expenses (20,469) (16,496)
Operating profit 36,146 41,955
Interest receivable - 39
Interest payable (157) -
Profit before taxation 35,989 41,994
Tax on profit (6,838) (7,979)
Profit for the financial year 29,151 34,015
T Neal Heating Limited
Registered number: 10609254
Balance Sheet
as at 28 February 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 2,060 2,285
Current assets
Debtors 4 9,703 11,729
Cash at bank and in hand 12,371 26,219
22,074 37,948
Creditors: amounts falling due within one year 5 (10,132) (10,406)
Net current assets 11,942 27,542
Total assets less current liabilities 14,002 29,827
Creditors: amounts falling due after more than one year 6 (6,804) (8,737)
Provisions for liabilities (391) (434)
Net assets 6,807 20,656
Capital and reserves
Called up share capital 1 1
Profit and loss account 6,806 20,655
Shareholder's funds 6,807 20,656
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Neal
Director
Approved by the board on 10 August 2022
T Neal Heating Limited
Statement of Changes in Equity
for the year ended 28 February 2022
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 March 2020 1 - - 13,640 13,641
Profit for the financial year 34,015 34,015
Dividends (27,000) (27,000)
At 28 February 2021 1 - - 20,655 20,656
At 1 March 2021 1 - - 20,655 20,656
Profit for the financial year 29,151 29,151
Dividends (43,000) (43,000)
At 28 February 2022 1 - - 6,806 6,807
T Neal Heating Limited
Notes to the Accounts
for the year ended 28 February 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2021 5,486
Additions 1,090
At 28 February 2022 6,576
Depreciation
At 1 March 2021 3,201
Charge for the year 1,315
At 28 February 2022 4,516
Net book value
At 28 February 2022 2,060
At 28 February 2021 2,285
4 Debtors 2022 2021
£ £
Trade debtors - 1,472
Other debtors 9,703 10,257
9,703 11,729
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 1,933 1,263
Taxation and social security costs 6,881 8,044
Other creditors 1,318 1,099
10,132 10,406
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 6,804 8,737
7 Controlling party
During the period, the ultimate controlling party is T Neal bu virtue of controlling the entire share capital of the company.
8 Other information
T Neal Heating Limited is a private company limited by shares and incorporated in England. Its registered office is:
55 Church Road
Bulphan
Essex
RM14 3RT
T Neal Heating Limited 10609254 false 2021-03-01 2022-02-28 2022-02-28 VT Final Accounts April 2022 10609254 2020-03-01 2021-02-28 10609254 bus:AllOrdinaryShares core:RetainedEarningsAccumulatedLosses 2020-03-01 2021-02-28 10609254 core:WithinOneYear 2021-02-28 10609254 core:AfterOneYear 2021-02-28 10609254 core:ShareCapital 2021-02-28 10609254 core:RetainedEarningsAccumulatedLosses 2021-02-28 10609254 2020-02-29 10609254 core:ShareCapital 2020-02-29 10609254 core:SharePremium 2020-02-29 10609254 core:OtherReservesSubtotal 2020-02-29 10609254 core:RetainedEarningsAccumulatedLosses 2020-02-29 10609254 2021-03-01 2022-02-28 10609254 bus:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 10609254 bus:AuditExemptWithAccountantsReport 2021-03-01 2022-02-28 10609254 bus:Director1 2021-03-01 2022-02-28 10609254 core:RetainedEarningsAccumulatedLosses 2021-03-01 2022-02-28 10609254 bus:AllOrdinaryShares core:RetainedEarningsAccumulatedLosses 2021-03-01 2022-02-28 10609254 1 2021-03-01 2022-02-28 10609254 2 2021-03-01 2022-02-28 10609254 core:PlantMachinery 2021-03-01 2022-02-28 10609254 countries:England 2021-03-01 2022-02-28 10609254 bus:FRS102 2021-03-01 2022-02-28 10609254 bus:FullAccounts 2021-03-01 2022-02-28 10609254 2022-02-28 10609254 core:WithinOneYear 2022-02-28 10609254 core:AfterOneYear 2022-02-28 10609254 core:ShareCapital 2022-02-28 10609254 core:RetainedEarningsAccumulatedLosses 2022-02-28 10609254 core:SharePremium 2022-02-28 10609254 core:OtherReservesSubtotal 2022-02-28 10609254 core:PlantMachinery 2022-02-28 10609254 2021-02-28 10609254 core:SharePremium 2021-02-28 10609254 core:OtherReservesSubtotal 2021-02-28 10609254 core:PlantMachinery 2021-02-28 iso4217:GBP xbrli:pure