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Company No: 04887125 (England and Wales)

PAUL HAWKINS OIL & GAS BURNER SERVICES LTD

Unaudited Financial Statements
For the financial year ended 30 October 2023
Pages for filing with the registrar

PAUL HAWKINS OIL & GAS BURNER SERVICES LTD

Unaudited Financial Statements

For the financial year ended 30 October 2023

Contents

PAUL HAWKINS OIL & GAS BURNER SERVICES LTD

BALANCE SHEET

As at 30 October 2023
PAUL HAWKINS OIL & GAS BURNER SERVICES LTD

BALANCE SHEET (continued)

As at 30 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,383 1,283
1,383 1,283
Current assets
Stocks 4 13,083 18,500
Debtors 5 83,525 83,774
Cash at bank and in hand 43,110 29,713
139,718 131,987
Creditors: amounts falling due within one year 6 ( 51,144) ( 57,534)
Net current assets 88,574 74,453
Total assets less current liabilities 89,957 75,736
Provision for liabilities ( 346) 844
Net assets 89,611 76,580
Capital and reserves
Called-up share capital 100 100
Profit and loss account 89,511 76,480
Total shareholder's funds 89,611 76,580

For the financial year ending 30 October 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 Paul Hawkins Oil & Gas Burner Services Ltd (registered number: 04887125) were approved and authorised for issue by the Director on 26 July 2024. They were signed on its behalf by:

S A Rundle
Director
PAUL HAWKINS OIL & GAS BURNER SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 October 2023
PAUL HAWKINS OIL & GAS BURNER SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 October 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

Paul Hawkins Oil & Gas Burner Services Ltd (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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom. The principal place of business is Unit 3D, Westpark 26, Chelston, Wellington, Somerset, TA21 9AD.

The financial statements have been prepared under the historical cost convention, modified to include 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 provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probably that the future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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:

Office equipment 20 % 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 4

3. Tangible assets

Office equipment Total
£ £
Cost
At 31 October 2022 4,997 4,997
Additions 369 369
At 30 October 2023 5,366 5,366
Accumulated depreciation
At 31 October 2022 3,714 3,714
Charge for the financial year 269 269
At 30 October 2023 3,983 3,983
Net book value
At 30 October 2023 1,383 1,383
At 30 October 2022 1,283 1,283

4. Stocks

2023 2022
£ £
Stocks 10,200 15,000
Work in progress 2,883 3,500
13,083 18,500

5. Debtors

2023 2022
£ £
Trade debtors 19,076 19,375
Amounts owed by Parent undertakings 64,449 64,399
83,525 83,774

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 10,121 10,633
Taxation and social security 34,190 40,962
Other creditors 6,833 5,939
51,144 57,534

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 10,322 0
between one and five years 44,846 0
55,168 0