Registered number
SC093613
Lothian Heating Services Limited
Filleted Accounts
30 June 2023
Lothian Heating Services Limited
Registered number: SC093613
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 102,480 41,423
Current assets
Stocks 27,444 26,786
Debtors 4 80,578 127,087
Cash at bank and in hand 420,300 285,619
528,322 439,492
Creditors: amounts falling due within one year 5 (161,052) (199,751)
Net current assets 367,270 239,741
Net assets 469,750 281,164
Capital and reserves
Called up share capital 75 75
Capital redemption reserve 6 225 225
Profit and loss account 469,450 280,864
Shareholders' funds 469,750 281,164
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
KA Liston
Director
Approved by the board on 16 February 2024
Lothian Heating Services Limited
Notes to the Accounts
for the year ended 30 June 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 15
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 174,685
Additions 68,860
At 30 June 2023 243,545
Depreciation
At 1 July 2022 133,262
Charge for the year 7,803
At 30 June 2023 141,065
Net book value
At 30 June 2023 102,480
At 30 June 2022 41,423
4 Debtors 2023 2022
£ £
Trade debtors 58,314 104,823
Other debtors 22,264 22,264
80,578 127,087
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 62,558 114,065
Corporation tax 36,543 10,015
Other taxes and social security costs 38,894 74,614
Other creditors 23,057 1,057
161,052 199,751
6 Capital redemption reserve 2023 2022
£ £
At 1 July 2022 225 160
Company buy back of shares - 65
At 30 June 2023 225 225
Lothian Heating Services Limited SC093613 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts October 2023 release 2 KA Liston No description of principal activity SC093613 2021-07-01 2022-06-30 SC093613 core:RevaluationReserve core:LandBuildings 2021-07-01 2022-06-30 SC093613 core:WithinOneYear 2022-06-30 SC093613 core:ShareCapital 2022-06-30 SC093613 core:OtherReservesSubtotal 2022-06-30 SC093613 core:RetainedEarningsAccumulatedLosses 2022-06-30 SC093613 core:RevaluationReserve 2021-06-30 SC093613 2022-07-01 2023-06-30 SC093613 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC093613 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 SC093613 bus:Director40 2022-07-01 2023-06-30 SC093613 1 2022-07-01 2023-06-30 SC093613 2 2022-07-01 2023-06-30 SC093613 core:PlantMachinery 2022-07-01 2023-06-30 SC093613 core:RevaluationReserve core:LandBuildings 2022-07-01 2023-06-30 SC093613 bus:FRS102 2022-07-01 2023-06-30 SC093613 bus:FullAccounts 2022-07-01 2023-06-30 SC093613 2023-06-30 SC093613 core:WithinOneYear 2023-06-30 SC093613 core:ShareCapital 2023-06-30 SC093613 core:OtherReservesSubtotal 2023-06-30 SC093613 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC093613 core:PlantMachinery 2023-06-30 SC093613 core:RevaluationReserve 2023-06-30 SC093613 2022-06-30 SC093613 core:PlantMachinery 2022-06-30 SC093613 core:RevaluationReserve 2022-06-30 iso4217:GBP xbrli:pure