Tree Heat Ltd 12607755 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is that of the provision of commercial premises for rent. Digita Accounts Production Advanced 6.30.9574.0 true 12607755 2022-06-01 2023-05-31 12607755 2023-05-31 12607755 core:CurrentFinancialInstruments 2023-05-31 12607755 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 12607755 bus:SmallEntities 2022-06-01 2023-05-31 12607755 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 12607755 bus:FullAccounts 2022-06-01 2023-05-31 12607755 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 12607755 bus:RegisteredOffice 2022-06-01 2023-05-31 12607755 bus:Director1 2022-06-01 2023-05-31 12607755 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 12607755 countries:England 2022-06-01 2023-05-31 12607755 2022-05-31 12607755 2021-06-01 2022-05-31 12607755 2022-05-31 12607755 core:CurrentFinancialInstruments 2022-05-31 12607755 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 12607755

Tree Heat Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Tree Heat Ltd

(Registration number: 12607755)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

357,000

164,697

Current assets

 

Cash at bank and in hand

 

6,723

9,104

Creditors: Amounts falling due within one year

6

(331,748)

(176,170)

Net current liabilities

 

(325,025)

(167,066)

Total assets less current liabilities

 

31,975

(2,369)

Provisions for liabilities

(10,331)

-

Net assets/(liabilities)

 

21,644

(2,369)

Capital and reserves

 

Called up share capital

4

4

Fair value reserve

30,993

-

Retained earnings

(9,353)

(2,373)

Shareholders' funds/(deficit)

 

21,644

(2,369)

For the financial year ending 31 May 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director for issue on 19 February 2024
 

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

H R Towns

Director

 

Tree Heat Ltd

Notes to the Financial Statements for the Year Ended 31 May 2023

1

General information

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

The address of its registered office is:
Priory Gardens
8 Church Road
Ketton
Stamford
Rutland
PE9 3RD

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 deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Tree Heat Ltd

Notes to the Financial Statements for the Year Ended 31 May 2023

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

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.

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 0 (2022 - 0).

 

Tree Heat Ltd

Notes to the Financial Statements for the Year Ended 31 May 2023

4

Investment properties

2023
£

At 1 June

164,697

Additions

150,979

Fair value adjustments

41,324

At 31 May

357,000

The properties are measured at fair value by the director. Any unrealised gain or loss arising is charged to the proft and loss account.

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2023
£

2022
£

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

7

372

-

Amounts owed to related parties

322,665

166,784

Taxation and social security

 

50

381

Other creditors

 

8,661

9,005

 

331,748

176,170

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

372

-