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REGISTERED NUMBER: 05056810 (England and Wales)















RAPID HEAT SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2023






RAPID HEAT SYSTEMS LIMITED (REGISTERED NUMBER: 05056810)

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


RAPID HEAT SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







Director: P J Graham





Secretary: P J Graham





Registered office: Deva House
Knutsford Way
Sealand Industrial Estate
Chester
Cheshire
CH1 4NX





Registered number: 05056810 (England and Wales)





Accountants: John Davies and Co
St Andrews House
Yale Business Village
Ellice Way
Wrexham
Wrexham CB
LL13 7YL

RAPID HEAT SYSTEMS LIMITED (REGISTERED NUMBER: 05056810)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 497,293 306,989

Current assets
Stocks 62,545 49,176
Debtors 5 192,049 272,979
Cash at bank and in hand 339,452 320,067
594,046 642,222
Creditors
Amounts falling due within one year 6 123,005 226,223
Net current assets 471,041 415,999
Total assets less current liabilities 968,334 722,988

Creditors
Amounts falling due after more than one
year

7

(54,434

)

(4,167

)

Provisions for liabilities (123,858 ) (76,181 )
Net assets 790,042 642,640

Capital and reserves
Called up share capital 100 75
Retained earnings 789,942 642,565
Shareholders' funds 790,042 642,640

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.

RAPID HEAT SYSTEMS LIMITED (REGISTERED NUMBER: 05056810)

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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 May 2023 and were signed by:





A M Graham - Director


RAPID HEAT SYSTEMS LIMITED (REGISTERED NUMBER: 05056810)

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


1. Statutory information

Rapid Heat Systems 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.

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 represents sales of goods and services, excluding value added tax, discounts and sale returns. Income is recognised in the period in which goods or services were provided.

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 - 20% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures & fittings - 25% on reducing balance

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

Taxation
Taxation 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 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.

RAPID HEAT SYSTEMS LIMITED (REGISTERED NUMBER: 05056810)

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


2. Accounting policies - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. Employees and directors

The average number of employees during the year was 7 (2022 - 8 ) .

4. Tangible fixed assets
Improvements
to Plant and Fixtures Motor
property machinery & fittings vehicles Totals
£    £    £    £    £   
Cost
At 1 April 2022 48,137 1,042,119 35,672 158,401 1,284,329
Additions - 129,486 5,066 118,813 253,365
Disposals - (34,962 ) - (11,257 ) (46,219 )
At 31 March 2023 48,137 1,136,643 40,738 265,957 1,491,475
Depreciation
At 1 April 2022 45,879 816,464 29,072 85,925 977,340
Charge for year 521 26,941 2,632 24,023 54,117
Eliminated on disposal - (26,184 ) - (11,091 ) (37,275 )
At 31 March 2023 46,400 817,221 31,704 98,857 994,182
Net book value
At 31 March 2023 1,737 319,422 9,034 167,100 497,293
At 31 March 2022 2,258 225,655 6,600 72,476 306,989

Included in the net book value of £497,293 is assets on hire purchase of £80,204
depreciation on these for the year was £2,696.

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 101,064 122,873
Other debtors 90,985 150,106
192,049 272,979

RAPID HEAT SYSTEMS LIMITED (REGISTERED NUMBER: 05056810)

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


6. Creditors: amounts falling due within one year
2023 2022
£    £   
Hire purchase contracts 31,384 50,000
Trade creditors 37,994 109,443
Taxation and social security 4,454 43,378
Other creditors 49,173 23,402
123,005 226,223

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Hire purchase contracts 54,434 4,167

8. Directors' 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
£    £   
P J Graham
Balance outstanding at start of year 1,515 1,515
Amounts repaid (1,515 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,515

The loans are interest free and repayable on demand.