Registered number
11058908
MR HEAT AND GAS LIMITED
Filleted Accounts
30 November 2023
MR HEAT AND GAS LIMITED
Registered number: 11058908
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 7,903 10,793
Current assets
Debtors 4 21,299 21,701
Cash at bank and in hand 10,885 5,537
32,184 27,238
Creditors: amounts falling due within one year 5 (17,334) (8,863)
Net current assets 14,850 18,375
Total assets less current liabilities 22,753 29,168
Creditors: amounts falling due after more than one year 6 (13,227) (15,267)
Net assets 9,526 13,901
Capital and reserves
Called up share capital 200 200
Profit and loss account 9,326 13,701
Shareholders' funds 9,526 13,901
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jeffrey Ofori
Director
Approved by the board on 31 July 2024
MR HEAT AND GAS LIMITED
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 18,461
At 30 November 2023 18,461
Depreciation
At 1 December 2022 7,668
Charge for the year 2,890
At 30 November 2023 10,558
Net book value
At 30 November 2023 7,903
At 30 November 2022 10,793
4 Debtors 2023 2022
£ £
Trade debtors 7,299 7,701
Other debtors 14,000 14,000
21,299 21,701
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,440 2,400
Taxation and social security costs 10,761 5,632
Other creditors 4,133 831
17,334 8,863
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans secured 13,227 15,267
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Jeffrey Ofori
Loan 14,000 - - 14,000
14,000 - - 14,000
8 Controlling party
The company was in both the current and preceding accounting periods under the ultimate control of its director by virtue of his ownership of the company’s entire issued share capital.
9 Other information
MR HEAT AND GAS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
11-13 Granbridge Street
Flat C
London
N1 8JL
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