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Registered number: 11106395
Heat-Gas Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
GLX Advisory Limited
Chartered Accountants
69-75 Thorpe Road
Norwich
NR1 1UA
Unaudited Financial Statements
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Mr K Worster
Mr J Reed
Company Number 11106395
Registered Office 69-75 Thorpe Road
Norwich
NR1 1UA
Accountants GLX Advisory Limited
Chartered Accountants
69-75 Thorpe Road
Norwich
NR1 1UA
Page 1
Page 2
Balance Sheet
Registered number: 11106395
2023 2022
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 5 2,431 4,755
Cash at bank and in hand 3 5,425
2,434 10,180
Creditors: Amounts Falling Due Within One Year 6 (7,719 ) (12,883 )
NET CURRENT ASSETS (LIABILITIES) (5,285 ) (2,703 )
TOTAL ASSETS LESS CURRENT LIABILITIES (5,285 ) (2,703 )
Creditors: Amounts Falling Due After More Than One Year 7 (21,989 ) (20,501 )
NET LIABILITIES (27,274 ) (23,204 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (27,374 ) (23,304 )
SHAREHOLDERS' FUNDS (27,274) (23,204)
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For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr K Worster
Director
25/07/2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Heat-Gas Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11106395 . The registered office is 69-75 Thorpe Road, Norwich, NR1 1UA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% straight line
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2022 450
Disposals (450 )
Depreciation
As at 1 November 2022 450
Disposals (450 )
As at 31 October 2023 -
Net Book Value
As at 31 October 2023 -
As at 1 November 2022 -
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 2,431 4,755
2,431 4,755
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 6,459 7,936
Other creditors 1,260 4,947
7,719 12,883
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 21,989 20,501
21,989 20,501
Page 5
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8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
Included in other debtors is a loan to a party related by virtue of common control for £2,431 (2022: £4,755). This loan is unsecured, interest free and repayable on demand. 
Included in other creditors is a loan to the director of £469 (2022: £3,507). This loan is unsecured, interest free and repayable on demand. 
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