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REGISTERED NUMBER: 12046243 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2023

FOR

IHEATING SOLUTIONS LIMITED

IHEATING SOLUTIONS LIMITED (REGISTERED NUMBER: 12046243)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


IHEATING SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTORS: R G Hope
S Day
J Lovatt
A J W Tate



REGISTERED OFFICE: 673 Chorley Road
Westhoughton
Bolton
BL5 3NF



REGISTERED NUMBER: 12046243 (England and Wales)



ACCOUNTANTS: Ryans
Chartered Accountants
67 Chorley Old Road
Bolton
BL1 3AJ



BANKERS: Barclays Bank PLC
The Wellsprings
Victoria Square
Bolton
BL1 1FH

IHEATING SOLUTIONS LIMITED (REGISTERED NUMBER: 12046243)

ABRIDGED BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 64,692 87,688
Tangible assets 5 95,249 51,767
159,941 139,455

CURRENT ASSETS
Stocks 13,955 17,871
Debtors 289,842 277,420
Cash at bank and in hand 21,642 55,941
325,439 351,232
CREDITORS
Amounts falling due within one year 930,250 812,116
NET CURRENT LIABILITIES (604,811 ) (460,884 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(444,870

)

(321,429

)

CREDITORS
Amounts falling due after more than one
year

19,167

29,167
NET LIABILITIES (464,037 ) (350,596 )

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings (464,137 ) (350,696 )
SHAREHOLDERS' FUNDS (464,037 ) (350,596 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

IHEATING SOLUTIONS LIMITED (REGISTERED NUMBER: 12046243)

ABRIDGED BALANCE SHEET - continued
31ST JULY 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 19th March 2024 and were signed on its behalf by:





R G Hope - Director


IHEATING SOLUTIONS LIMITED (REGISTERED NUMBER: 12046243)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

Iheating Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis which assumes the continuing support of the company's creditors.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks 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 Statement of Income and Retained Earnings, 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.


IHEATING SOLUTIONS LIMITED (REGISTERED NUMBER: 12046243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st August 2022
and 31st July 2023 114,978
AMORTISATION
At 1st August 2022 27,290
Amortisation for year 22,996
At 31st July 2023 50,286
NET BOOK VALUE

At 31st July 2023 64,692
At 31st July 2022 87,688

IHEATING SOLUTIONS LIMITED (REGISTERED NUMBER: 12046243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st August 2022 78,397
Additions 64,440
Disposals (371 )
At 31st July 2023 142,466
DEPRECIATION
At 1st August 2022 26,630
Charge for year 20,610
Eliminated on disposal (23 )
At 31st July 2023 47,217
NET BOOK VALUE
At 31st July 2023 95,249
At 31st July 2022 51,767

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st July 2023 and 31st July 2022:

2023 2022
£    £   
S Day
Balance outstanding at start of year - 6,128
Amounts repaid - (6,128 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

J Lovatt
Balance outstanding at start of year 4,998 6,210
Amounts advanced - 4,998
Amounts repaid (4,998 ) (6,210 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 4,998

8. ULTIMATE CONTROLLING PARTY

The company is controlled by three of its directors who, between them, own all of the issued share capital