2023-01-012023-12-312023-12-31false04995244Heat-Tech South West 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Heat-Tech South West Ltd

Registered Number
04995244
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Heat-Tech South West Ltd
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

Christopher John Burrows

Registered Address

Sandacre
56 Wraxhill Road
Yeovil
BA20 2JX

Registered Number

04995244 (England and Wales)
Heat-Tech South West Ltd
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets49,34212,448
9,34212,448
Current assets
Stocks1,6001,600
Debtors518,10819,707
Cash at bank and on hand20,65522,308
40,36343,615
Creditors amounts falling due within one year6(19,687)(21,542)
Net current assets (liabilities)20,67622,073
Total assets less current liabilities30,01834,521
Creditors amounts falling due after one year(5,134)(7,934)
Provisions for liabilities(1,775)(2,365)
Net assets23,10924,222
Capital and reserves
Called up share capital100100
Profit and loss account23,00924,122
Shareholders' funds23,10924,222
The financial statements were approved and authorised for issue by the Director on 9 August 2024, and are signed on its behalf by:
Christopher John Burrows
Director
Registered Company No. 04995244
Heat-Tech South West Ltd
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
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.
Intangible assets
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, was amortised evenly over its estimated useful life of ten years. At the year end the goodwill had been amortised in full (2022: £nil).
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Plant and machinery etc - 25% on reducing balance and 20% on reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees
The following average number of employees includes the director.

20232022
Average number of employees during the year11
3.Intangible assets

Total

£
Cost or valuation
At 01 January 2315,000
At 31 December 2315,000
Amortisation and impairment
At 01 January 2315,000
At 31 December 2315,000
Net book value
At 31 December 23-
At 31 December 22-
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 2325,921
At 31 December 2325,921
Depreciation and impairment
At 01 January 2313,472
Charge for year3,107
At 31 December 2316,579
Net book value
At 31 December 239,342
At 31 December 2212,448
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables18,06019,257
Other debtors-138
Prepayments and accrued income48312
Total18,10819,707
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables8,0735,648
Bank borrowings and overdrafts2,8002,800
Taxation and social security7,03011,055
Other creditors269554
Accrued liabilities and deferred income1,5151,485
Total19,68721,542
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.