Strathclyde Heating & Utilities Ltd SC428541 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is Plumbing and heating repairs and installations Digita Accounts Production Advanced 6.30.9574.0 true SC428541 2022-08-01 2023-07-31 SC428541 2023-07-31 SC428541 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-07-31 SC428541 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC428541 core:ShareCapital 2023-07-31 SC428541 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 SC428541 core:Non-currentFinancialInstruments 2023-07-31 SC428541 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 SC428541 core:FurnitureFittingsToolsEquipment 2023-07-31 SC428541 core:MotorVehicles 2023-07-31 SC428541 bus:SmallEntities 2022-08-01 2023-07-31 SC428541 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 SC428541 bus:FullAccounts 2022-08-01 2023-07-31 SC428541 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 SC428541 bus:RegisteredOffice 2022-08-01 2023-07-31 SC428541 bus:Director1 2022-08-01 2023-07-31 SC428541 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-08-01 2023-07-31 SC428541 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC428541 bus:Agent1 2022-08-01 2023-07-31 SC428541 core:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 SC428541 core:ShareCapital 2022-08-01 2023-07-31 SC428541 core:CommercialMotorVehicles 2022-08-01 2023-07-31 SC428541 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 SC428541 core:MotorVehicles 2022-08-01 2023-07-31 SC428541 core:OfficeEquipment 2022-08-01 2023-07-31 SC428541 countries:Scotland 2022-08-01 2023-07-31 SC428541 2022-07-31 SC428541 core:RetainedEarningsAccumulatedLosses 2022-07-31 SC428541 core:ShareCapital 2022-07-31 SC428541 core:FurnitureFittingsToolsEquipment 2022-07-31 SC428541 core:MotorVehicles 2022-07-31 SC428541 2021-08-01 2022-07-31 SC428541 2022-07-31 SC428541 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-07-31 SC428541 core:RetainedEarningsAccumulatedLosses 2022-07-31 SC428541 core:ShareCapital 2022-07-31 SC428541 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 SC428541 core:Non-currentFinancialInstruments 2022-07-31 SC428541 core:Non-currentFinancialInstruments core:AfterOneYear 2022-07-31 SC428541 core:FurnitureFittingsToolsEquipment 2022-07-31 SC428541 core:MotorVehicles 2022-07-31 SC428541 core:RetainedEarningsAccumulatedLosses 2021-08-01 2022-07-31 SC428541 core:ShareCapital 2021-08-01 2022-07-31 SC428541 2021-07-31 SC428541 core:RetainedEarningsAccumulatedLosses 2021-07-31 SC428541 core:ShareCapital 2021-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC428541

Strathclyde Heating & Utilities Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Strathclyde Heating & Utilities Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 13

Detailed Profit and Loss Account

14 to 15

 

Strathclyde Heating & Utilities Ltd

Company Information

Director

Mr Andrew Heffernan

Registered office

272 Bath Street
Glasgow
G2 4JR

Accountants

Clyde Business Services
159 King Street
Glasgow
Lanarkshire
G73 1BZ

 

Strathclyde Heating & Utilities Ltd

Director's Report for the Year Ended 31 July 2023

The director presents his report and the financial statements for the year ended 31 July 2023.

Director of the company

The director who held office during the year was as follows:

Mr Andrew Heffernan

Principal activity

The principal activity of the company is Plumbing and heating repairs and installations

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 29 December 2023
 

.........................................
Mr Andrew Heffernan
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Strathclyde Heating & Utilities Ltd
for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Strathclyde Heating & Utilities Ltd for the year ended 31 July 2023 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

It is your duty to ensure that Strathclyde Heating & Utilities Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Strathclyde Heating & Utilities Ltd. You consider that Strathclyde Heating & Utilities Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Strathclyde Heating & Utilities Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Clyde Business Services
159 King Street
Glasgow
Lanarkshire
G73 1BZ

29 December 2023

 

Strathclyde Heating & Utilities Ltd

Profit and Loss Account for the Year Ended 31 July 2023

Note

2023
£

2022
£

Turnover

 

210,170

171,560

Cost of sales

 

(67,125)

(55,185)

Gross profit

 

143,045

116,375

Administrative expenses

 

(131,605)

(94,446)

Operating profit

 

11,440

21,929

Interest payable and similar expenses

 

(1,487)

(1,487)

Profit before tax

4

9,953

20,442

Tax on profit

 

(1,999)

(4,062)

Profit for the financial year

 

7,954

16,380

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Strathclyde Heating & Utilities Ltd

Statement of Comprehensive Income for the Year Ended 31 July 2023

2023
£

2022
£

Profit for the year

7,954

16,380

Total comprehensive income for the year

7,954

16,380

 

Strathclyde Heating & Utilities Ltd

(Registration number: SC428541)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

20,873

26,092

Current assets

 

Stocks

6

3,000

3,000

Cash at bank and in hand

 

14,930

20,108

 

17,930

23,108

Creditors: Amounts falling due within one year

7

(11,689)

(10,120)

Net current assets

 

6,241

12,988

Total assets less current liabilities

 

27,114

39,080

Creditors: Amounts falling due after more than one year

7

(14,975)

(24,895)

Net assets

 

12,139

14,185

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

12,039

14,085

Shareholders' funds

 

12,139

14,185

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 29 December 2023
 

.........................................
Mr Andrew Heffernan
Director

 

Strathclyde Heating & Utilities Ltd

Statement of Changes in Equity for the Year Ended 31 July 2023

Share capital
£

Retained earnings
£

Total
£

At 1 August 2022

100

14,085

14,185

Profit for the year

-

7,954

7,954

Dividends

-

(10,000)

(10,000)

At 31 July 2023

100

12,039

12,139

Share capital
£

Retained earnings
£

Total
£

At 1 August 2021

100

15,705

15,805

Profit for the year

-

16,380

16,380

Dividends

-

(18,000)

(18,000)

At 31 July 2022

100

14,085

14,185

 

Strathclyde Heating & Utilities Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
272 Bath Street
Glasgow
G2 4JR
United Kingdom

The principal place of business is:
272 Bath Street
Glasgow
G2 4JR
United Kingdom

These financial statements were authorised for issue by the director on 29 December 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Strathclyde Heating & Utilities Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

commercial vehicles

20% reducing balance

office equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Strathclyde Heating & Utilities Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 3).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

5,219

6,523

 

Strathclyde Heating & Utilities Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

2,185

50,481

52,666

At 31 July 2023

2,185

50,481

52,666

Depreciation

At 1 August 2022

1,251

25,323

26,574

Charge for the year

187

5,032

5,219

At 31 July 2023

1,438

30,355

31,793

Carrying amount

At 31 July 2023

747

20,126

20,873

At 31 July 2022

934

25,158

26,092

6

Stocks

2023
£

2022
£

Finished goods and goods for resale

3,000

3,000

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

6,366

2,148

Taxation and social security

4,674

7,588

Other creditors

649

384

11,689

10,120

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

14,975

24,895

 

Strathclyde Heating & Utilities Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

14,975

24,895

10

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £100.00 (2022 - £180.00) per ordinary share

 

10,000

 

18,000

         

11

Related party transactions

 

Strathclyde Heating & Utilities Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,570

12,219

 

Strathclyde Heating & Utilities Ltd

Detailed Profit and Loss Account for the Year Ended 31 July 2023

2023
 £

2022
 £

turnover (analysed below)

210,170

171,560

Cost of sales (analysed below)

(67,125)

(55,185)

Gross profit

143,045

116,375

Gross profit (%)

68.06%

67.83%

Administrative expenses

Employment costs (analysed below)

(94,233)

(64,953)

Establishment costs (analysed below)

(4,976)

(3,389)

General administrative expenses (analysed below)

(26,722)

(19,111)

Finance charges (analysed below)

(455)

(470)

Depreciation costs (analysed below)

(5,219)

(6,523)

(131,605)

(94,446)

Operating profit

11,440

21,929

Interest payable and similar charges (analysed below)

(1,487)

(1,487)

Profit before tax

9,953

20,442

 

Strathclyde Heating & Utilities Ltd

Detailed Profit and Loss Account for the Year Ended 31 July 2023

2023
£

2022
£

   

Turnover

Sale of goods, UK

210,170

171,560

   

Cost of sales

Opening finished goods

(3,000)

(3,000)

Purchases

(67,125)

(55,185)

Closing finished goods

3,000

3,000

(67,125)

(55,185)

   

Employment costs

Wages and salaries (excluding directors)

(79,672)

(51,280)

Directors remuneration

(12,570)

(12,219)

Staff pensions (Defined contribution)

(1,822)

(1,026)

Staff welfare

(169)

(428)

(94,233)

(64,953)

   

Establishment costs

Insurance

(4,976)

(2,898)

Repairs and maintenance

-

(491)

(4,976)

(3,389)

   

General administrative expenses

Telephone and fax

(4,115)

(4,005)

Computer software and maintenance costs

(333)

(372)

Printing, postage and stationery

(185)

(146)

Sundry expenses

(340)

(470)

Cleaning

(222)

-

Motor expenses

(15,232)

(11,164)

Travel and subsistence

(2,280)

-

Advertising

(1,612)

(1,254)

Accountancy fees

(2,403)

(1,700)

(26,722)

(19,111)

   

Finance charges

Bank charges

(455)

(470)

   

Depreciation costs

Depreciation of plant and machinery (owned)

-

(234)

Depreciation of fixtures and fittings (owned)

(187)

-

Depreciation of motor vehicles (owned)

(5,032)

(6,289)

(5,219)

(6,523)

   

Interest payable and similar expenses

Other loan interest

(1,487)

(1,487)