Registered number
08850698
Pink Heating & Renewables Ltd
Unaudited Filleted Accounts
31 May 2023
Pink Heating & Renewables Ltd
Registered number: 08850698
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 44,170 19,763
Current assets
Stocks 4,540 3,000
Debtors 4 115,800 125,408
Cash at bank and in hand 66,774 62,670
187,114 191,078
Creditors: amounts falling due within one year 5 (134,232) (106,869)
Net current assets 52,882 84,209
Total assets less current liabilities 97,052 103,972
Creditors: amounts falling due after more than one year 6 (59,612) (69,320)
Net assets 37,440 34,652
Capital and reserves
Called up share capital 1 1
Profit and loss account 37,439 34,651
Shareholder's funds 37,440 34,652
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr E Khan
Director
Approved by the board on 15 February 2024
Pink Heating & Renewables Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles Reducing balance
Computer equipment Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Equipment Motor vehicles Total
£ £ £
Cost
At 1 June 2022 6,998 24,089 31,087
Additions 4,979 29,124 34,103
At 31 May 2023 11,977 53,213 65,190
Depreciation
At 1 June 2022 2,571 8,753 11,324
Charge for the year 1,693 8,003 9,696
At 31 May 2023 4,264 16,756 21,020
Net book value
At 31 May 2023 7,713 36,457 44,170
At 31 May 2022 4,427 15,336 19,763
4 Debtors 2023 2022
£ £
Trade debtors 93,003 108,807
Other debtors 22,797 16,601
115,800 125,408
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 105,168 68,863
Taxation and social security costs 21,817 28,420
Other creditors 7,247 9,586
134,232 106,869
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 26,907 36,615
Other creditors 32,705 32,705
59,612 69,320
7 Other information
Pink Heating & Renewables Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Mill
Kingsteignton Road
Newton Abbot
Devon
TQ12 2QA
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