Registered number
10783815
SP Heating & Gas Services Ltd
Unaudited Filleted Accounts
for the year ended 31 March 2023
SP Heating & Gas Services Ltd
Registered number: 10783815
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 9,292 11,615
Current assets
Debtors 4 54,523 54,617
Cash at bank and in hand 26,966 57,103
81,489 111,720
Creditors: amounts falling due within one year 5 (13,519) (58,230)
Net current assets 67,970 53,490
Total assets less current liabilities 77,262 65,105
Creditors: amounts falling due after more than one year 6 (17,250) (19,350)
Provisions for liabilities (2,207) (2,207)
Net assets 57,805 43,548
Capital and reserves
Called up share capital 120 120
Profit and loss account 57,685 43,428
Shareholders' funds 57,805 43,548
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 members have 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.
S P Lambe
Director
Approved by the board on 3 November 2023
SP Heating & Gas Services Ltd
Notes to the Accounts
for the year ended 31 March 2023
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.Turnover includes revenue from the rendering of services.
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:
Fixtures, fittings, tools and equipment 20% reducing balance
Motor vehicles 20% reducing balance
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures, fittings, tools and equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2022 2,709 16,150 18,859
At 31 March 2023 2,709 16,150 18,859
Depreciation
At 1 April 2022 1,430 5,814 7,244
Charge for the year 256 2,067 2,323
At 31 March 2023 1,686 7,881 9,567
Net book value
At 31 March 2023 1,023 8,269 9,292
At 31 March 2022 1,279 10,336 11,615
4 Debtors 2023 2022
£ £
Trade debtors 12,848 -
Other debtors 41,675 54,617
54,523 54,617
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 11,395 25,325
Other creditors 2,124 32,905
13,519 58,230
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 17,250 19,350
7 Other information
SP Heating & Gas Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Rosedean House
4 Argyle Road
Barnet
EN5 4DX
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