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Company No: 07097685 (England and Wales)

WALCOTT HEATING LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

WALCOTT HEATING LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

WALCOTT HEATING LIMITED

BALANCE SHEET

As at 31 December 2023
WALCOTT HEATING LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 11,391 12,450
11,391 12,450
Current assets
Stocks 250 250
Debtors 4 215 2,823
Cash at bank and in hand 42,438 33,531
42,903 36,604
Creditors: amounts falling due within one year 5 ( 22,626) ( 13,242)
Net current assets 20,277 23,362
Total assets less current liabilities 31,668 35,812
Provision for liabilities ( 985) ( 1,186)
Net assets 30,683 34,626
Capital and reserves
Called-up share capital 100 100
Profit and loss account 30,583 34,526
Total shareholders' funds 30,683 34,626

For the financial year ending 31 December 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 financial statements of Walcott Heating Limited (registered number: 07097685) were approved and authorised for issue by the Director on 20 March 2024. They were signed on its behalf by:

M J Berry
Director
WALCOTT HEATING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
WALCOTT HEATING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Walcott Heating Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is 72 Walcott Avenue, Christchurch, Dorset, BH23 2NG.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

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 value added tax, returns, rebates and discounts.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 January 2023 6,207 3,443 18,140 2,622 30,412
Additions 0 0 0 587 587
At 31 December 2023 6,207 3,443 18,140 3,209 30,999
Accumulated depreciation
At 01 January 2023 0 2,871 13,835 1,256 17,962
Charge for the financial year 0 143 1,076 427 1,646
At 31 December 2023 0 3,014 14,911 1,683 19,608
Net book value
At 31 December 2023 6,207 429 3,229 1,526 11,391
At 31 December 2022 6,207 572 4,305 1,366 12,450

4. Debtors

2023 2022
£ £
Trade debtors 82 543
Other debtors 133 2,280
215 2,823

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 5,537 3,569
Corporation tax 9,265 5,334
Other taxation and social security 3,303 2,187
Other creditors 4,521 2,152
22,626 13,242