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REGISTERED NUMBER: SC363559 (Scotland)















Unaudited Financial Statements for the Year Ended 30 March 2023

for

Greenheat Renewables Ltd

Greenheat Renewables Ltd (Registered number: SC363559)






Contents of the Financial Statements
for the Year Ended 30 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Greenheat Renewables Ltd

Company Information
for the Year Ended 30 March 2023







DIRECTORS: Mrs H Bruce
A Bruce





REGISTERED OFFICE: 47 - 49 The Square
Kelso
Roxburghshire
TD5 7HW





REGISTERED NUMBER: SC363559 (Scotland)





ACCOUNTANTS: Douglas Home & Co Ltd
Chartered Accountants
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Greenheat Renewables Ltd (Registered number: SC363559)

Balance Sheet
30 March 2023

30/3/23 30/3/22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,183,447 1,225,506

CURRENT ASSETS
Inventories 300,000 271,000
Debtors 5 405,231 337,858
Cash at bank 107,140 101,189
812,371 710,047
CREDITORS
Amounts falling due within one year 6 770,047 680,588
NET CURRENT ASSETS 42,324 29,459
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,225,771

1,254,965

CREDITORS
Amounts falling due after more than one
year

7

(332,202

)

(440,722

)

PROVISIONS FOR LIABILITIES (102,000 ) (95,000 )
NET ASSETS 791,569 719,243

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 791,467 719,141
791,569 719,243

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Greenheat Renewables Ltd (Registered number: SC363559)

Balance Sheet - continued
30 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2024 and were signed on its behalf by:





A Bruce - Director


Greenheat Renewables Ltd (Registered number: SC363559)

Notes to the Financial Statements
for the Year Ended 30 March 2023

1. STATUTORY INFORMATION

Greenheat Renewables Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Greenheat Renewables Ltd (Registered number: SC363559)

Notes to the Financial Statements - continued
for the Year Ended 30 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 11 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 31 March 2022 643,464 719,754 165,099 17,089 1,545,406
Additions - 57,421 - - 57,421
At 30 March 2023 643,464 777,175 165,099 17,089 1,602,827
DEPRECIATION
At 31 March 2022 - 211,677 96,175 12,048 319,900
Charge for year - 81,345 17,231 904 99,480
At 30 March 2023 - 293,022 113,406 12,952 419,380
NET BOOK VALUE
At 30 March 2023 643,464 484,153 51,693 4,137 1,183,447
At 30 March 2022 643,464 508,077 68,924 5,041 1,225,506

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/3/23 30/3/22
£    £   
Trade debtors 399,620 221,128
Intercompany loan - 102,481
VAT - 7,452
Prepayments and retention 5,611 6,797
405,231 337,858

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/3/23 30/3/22
£    £   
Bank loans and overdrafts 25,997 19,359
Other loans 15,516 15,516
Hire purchase contracts 102,810 92,579
Trade creditors 480,532 177,982
Tax 6,585 -
Social security and other taxes (8,456 ) 2,977
VAT 24,205 -
Other creditors 1,828 935
Directors' current accounts 112,121 126,892
Accrued expenses 8,909 244,348
770,047 680,588

Greenheat Renewables Ltd (Registered number: SC363559)

Notes to the Financial Statements - continued
for the Year Ended 30 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/3/23 30/3/22
£    £   
Bank loans more than 1 year 140,509 166,237
Other loans more than 1 year 38,714 51,941
Hire purchase contracts 152,979 222,544
332,202 440,722