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REGISTERED NUMBER: 10249770 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

MERRETTS HEATING SERVICES LIMITED

MERRETTS HEATING SERVICES LIMITED (REGISTERED NUMBER: 10249770)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MERRETTS HEATING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: D R A Merrett





REGISTERED OFFICE: Merretts Buildings
Bath Road
Frocester
Stonehouse
Gloucestershire
GL10 3TG





REGISTERED NUMBER: 10249770 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

MERRETTS HEATING SERVICES LIMITED (REGISTERED NUMBER: 10249770)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,933 31,733
Tangible assets 5 88,157 92,553
113,090 124,286

CURRENT ASSETS
Stocks 6 64,923 24,025
Debtors 7 109,465 67,018
Prepayments and accrued income 11,624 13,237
Cash at bank and in hand 61,443 76,124
247,455 180,404
CREDITORS
Amounts falling due within one year 8 255,062 213,823
NET CURRENT LIABILITIES (7,607 ) (33,419 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

105,483

90,867

CREDITORS
Amounts falling due after more than one
year

9

(33,425

)

(30,103

)

PROVISIONS FOR LIABILITIES (15,651 ) (16,164 )
NET ASSETS 56,407 44,600

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 56,406 44,599
56,407 44,600

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MERRETTS HEATING SERVICES LIMITED (REGISTERED NUMBER: 10249770)

BALANCE SHEET - continued
31 MARCH 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 October 2023 and were signed by:





D R A Merrett - Director


MERRETTS HEATING SERVICES LIMITED (REGISTERED NUMBER: 10249770)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Merretts Heating Services 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised upon completion of the service.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

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.
Improvements to property - 10.9% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


MERRETTS HEATING SERVICES LIMITED (REGISTERED NUMBER: 10249770)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

Financial instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Going concern
The director has considered the risks and issues concerning the company and it's activities and no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern have been identified by the directors.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 68,000
AMORTISATION
At 1 April 2022 36,267
Amortisation for year 6,800
At 31 March 2023 43,067
NET BOOK VALUE
At 31 March 2023 24,933
At 31 March 2022 31,733

MERRETTS HEATING SERVICES LIMITED (REGISTERED NUMBER: 10249770)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 6,726 2,946 14,967 153,380 178,019
Additions - - - 21,560 21,560
Disposals - - - (8,650 ) (8,650 )
At 31 March 2023 6,726 2,946 14,967 166,290 190,929
DEPRECIATION
At 1 April 2022 672 1,108 6,679 77,007 85,466
Charge for year 269 459 2,950 20,427 24,105
Eliminated on disposal - - - (6,799 ) (6,799 )
At 31 March 2023 941 1,567 9,629 90,635 102,772
NET BOOK VALUE
At 31 March 2023 5,785 1,379 5,338 75,655 88,157
At 31 March 2022 6,054 1,838 8,288 76,373 92,553

6. STOCKS
2023 2022
£    £   
Stocks 49,557 24,025
Work-in-progress 15,366 -
64,923 24,025

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 108,903 71,590
Provision for bad - debts - (5,000 )
Other debtor 562 428
109,465 67,018

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 17,314 25,305
Trade creditors 134,674 116,638
Corporation Tax 10,097 1,459
Social security and other taxes 9,454 11,041
Pension 2,369 2,709
VAT 19,937 8,333
Other creditors 28,000 22,000
Directors' loan accounts 17,528 21,190
Accrued expenses 15,689 5,148
255,062 213,823

MERRETTS HEATING SERVICES LIMITED (REGISTERED NUMBER: 10249770)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 33,425 30,103

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
D R A Merrett
Balance outstanding at start of year (21,190 ) (47,061 )
Amounts advanced 35,662 53,285
Amounts repaid (32,000 ) (27,414 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (17,528 ) (21,190 )

No interest has been charged on the above loan and there are no set repayment terms.