K & P HEATING LIMITED

Company Registration Number:
07881144 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2022

Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

K & P HEATING LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Balance sheet
Notes

K & P HEATING LIMITED

Balance sheet

As at 31 December 2022


Notes

2022

2021


£

£
Fixed assets
Tangible assets: 3 750 1,111
Total fixed assets: 750 1,111
Current assets
Debtors:   60,346 71,584
Cash at bank and in hand: 8,447 0
Total current assets: 68,793 71,584
Creditors: amounts falling due within one year:   (67,094) (71,833)
Net current assets (liabilities): 1,699 (249)
Total assets less current liabilities: 2,449 862
Provision for liabilities: (140) (210)
Total net assets (liabilities): 2,309 652
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 2,307 650
Shareholders funds: 2,309 652

The notes form part of these financial statements

K & P HEATING LIMITED

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 03 October 2023
and signed on behalf of the board by:

Name: C P Kostecki
Status: Director

The notes form part of these financial statements

K & P HEATING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is derived from the principal activity of heating and plumbing engineers.Turnover represents net invoiced sales of services rendered, excluding value added tax.In line with Financial Reporting Standard 102, income has been recognised when the company obtains the right to consideration in exchange for its performance.

Tangible fixed assets and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.Plant and machinery etc - 33% on cost and 25% on reducing balance

Other accounting policies

TaxationTaxation 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 taxDeferred 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 benefitsThe 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.Going concernThe directors have considered the financial position of the company and believe it is well placed to manage its business risks successfully. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of preparation in preparing the financial statements.

K & P HEATING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

2. Employees

2022 2021
Average number of employees during the period 4 4

K & P HEATING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Tangible Assets

Total
Cost £
At 01 January 2022 2,085
At 31 December 2022 2,085
Depreciation
At 01 January 2022 974
Charge for year 361
At 31 December 2022 1,335
Net book value
At 31 December 2022 750
At 31 December 2021 1,111

K & P HEATING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Loans to directors

Name of director receiving advance or credit: C P Kostecki
Description of the loan: LOan
£
Balance at 01 January 2022 25,138
Advances or credits made: 19,605
Advances or credits repaid: 25,750
Balance at 31 December 2022 18,993
Name of director receiving advance or credit: P Sabatino
Description of the loan: Loan
£
Balance at 01 January 2022 25,138
Advances or credits made: 19,605
Advances or credits repaid: 25,750
Balance at 31 December 2022 18,993

Interest of £1,760 was paid on the overdrawn accounts.

K & P HEATING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Related party transactions

During the year the company was charged rent of £1,000 by each of the directors.The company is jointly controlled by the directors.