FLEXIBLE HEATING SERVICES LTD

Company Registration Number:
11638750 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2023

Period of accounts

Start date: 01 November 2022

End date: 31 October 2023

FLEXIBLE HEATING SERVICES LTD

Contents of the Financial Statements

for the Period Ended 31 October 2023

Balance sheet
Notes

FLEXIBLE HEATING SERVICES LTD

Balance sheet

As at 31 October 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 30,695 14,815
Total fixed assets: 30,695 14,815
Current assets
Stocks: 4,000 4,000
Debtors:   4,989 14,922
Cash at bank and in hand: 57,421 37,555
Total current assets: 66,410 56,477
Creditors: amounts falling due within one year:   (67,339) (62,951)
Net current assets (liabilities): (929) (6,474)
Total assets less current liabilities: 29,766 8,341
Creditors: amounts falling due after more than one year:   (15,459) (8,229)
Total net assets (liabilities): 14,307 112
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 14,207 12
Shareholders funds: 14,307 112

The notes form part of these financial statements

FLEXIBLE HEATING SERVICES LTD

Balance sheet statements

For the year ending 31 October 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 July 2024
and signed on behalf of the board by:

Name: Mr Christopher Cousens
Status: Director

The notes form part of these financial statements

FLEXIBLE HEATING SERVICES LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents net sales during the year (excluding value added tax) adjusted for accrued and deferred income where applicable in respect of plumbing and heating services. Turnover is recognised on completion of the service.

Tangible fixed assets and depreciation policy

All fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses. The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to its location and condition necessary for it to be capable to operating in a manor intended by management. Depreciation is provided at rates calculated to write off the costs less residual value of each asset over its expected useful life, as follows: Plant and machinery 15% straight line, Motor vehicles 15% reducing balance. The asset's residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted prospectively. Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the income statement.

Other accounting policies

Stocks Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.Financial instruments The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and debt instruments are subsequently measured at amortised cost.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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.Leases Where assets are financed by leasing agreements that give rights approximating to ownership, the assets are treated as if they have been purchased outright. The amount capitalised is their fair value of the asset concerned. The corresponding liability to the leasing company is included as an obligation under finance leases. Depreciation on leased assets is charged to the income statement over the shorter of the lease term and their useful life. Leasing payments are treated as consisting of capital and interest elements, and interest is charged to the income statement on a straight line basis which is considered to be a reasonable approximation to a constant rate of charge on the outstanding balance. All other leases are treated as 'operating leases' and the relevant annual rentals are charged to the income statement on a straight line basis over the lease term.Dividends Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

FLEXIBLE HEATING SERVICES LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

2. Employees

2023 2022
Average number of employees during the period 3 3

FLEXIBLE HEATING SERVICES LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Tangible Assets

Total
Cost £
At 01 November 2022 27,739
Additions 20,934
At 31 October 2023 48,673
Depreciation
At 01 November 2022 12,924
Charge for year 5,054
At 31 October 2023 17,978
Net book value
At 31 October 2023 30,695
At 31 October 2022 14,815