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Company Registration No. 07999194 (England and Wales)
Heritage Heating & Cooling Limited Unaudited accounts for the year ended 30 June 2023
Heritage Heating & Cooling Limited Unaudited accounts Contents
Page
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Heritage Heating & Cooling Limited Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
138,059 
138,214 
Current assets
Inventories
47,312 
25,120 
Debtors
175,473 
124,470 
Cash at bank and in hand
276,520 
254,049 
499,305 
403,639 
Creditors: amounts falling due within one year
(256,530)
(195,952)
Net current assets
242,775 
207,687 
Total assets less current liabilities
380,834 
345,901 
Creditors: amounts falling due after more than one year
(29,302)
(40,361)
Provisions for liabilities
Deferred tax
(18,044)
(15,759)
Net assets
333,488 
289,781 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
333,388 
289,681 
Shareholders' funds
333,488 
289,781 
For the year ending 30 June 2023 the company was entitled to exemption from audit 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 October 2023 and were signed on its behalf by
Mrs M Easingwood Director Company Registration No. 07999194
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Heritage Heating & Cooling Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Heritage Heating & Cooling Limited is a private company, limited by shares, registered in England and Wales, registration number 07999194. The registered office is Unit 32A, Albion Road, Sileby, Loughborough, Leicestershire, LE12 7RA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Government grants
Government grants in relation to the coronavirus job retention scheme and the small business support grant are credited to profit and loss account.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% per annum on cost
Plant & machinery
20% per annum of net book value
Motor vehicles
20% per annum of net book value
Fixtures & fittings
20% per annum of net book value
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Heritage Heating & Cooling Limited Notes to the Accounts for the year ended 30 June 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 July 2022
3,426 
15,794 
194,120 
19,392 
232,732 
Additions
- 
- 
31,995 
7,861 
39,856 
Revaluations
- 
- 
(29,145)
- 
(29,145)
At 30 June 2023
3,426 
15,794 
196,970 
27,253 
243,443 
Depreciation
At 1 July 2022
3,426 
10,743 
67,982 
12,367 
94,518 
Charge for the year
- 
1,008 
26,830 
1,527 
29,365 
Surplus on revaluation
- 
- 
(18,499)
- 
(18,499)
At 30 June 2023
3,426 
11,751 
76,313 
13,894 
105,384 
Net book value
At 30 June 2023
- 
4,043 
120,657 
13,359 
138,059 
At 30 June 2022
- 
5,051 
126,138 
7,025 
138,214 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
155,211 
104,582 
Accrued income and prepayments
20,256 
19,888 
Other debtors
6 
- 
175,473 
124,470 
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Heritage Heating & Cooling Limited Notes to the Accounts for the year ended 30 June 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
17,350 
10,000 
Obligations under finance leases and hire purchase contracts
18,364 
20,335 
Trade creditors
136,434 
93,445 
Taxes and social security
74,341 
62,808 
Other creditors
2,460 
2,029 
Accruals
7,581 
7,335 
256,530 
195,952 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
10,290 
30,459 
Obligations under finance leases and hire purchase contracts
19,012 
9,902 
29,302 
40,361 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
70 Ordinary A shares of £1 each
70 
70 
10 Ordinary B shares of £1 each
10 
10 
10 Ordinary C shares of £1 each
10 
10 
10 Ordinary D shares of £1 each
10 
10 
100 
100 
9
Average number of employees
During the year the average number of employees was 11 (2022: 11).
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