Company Registration No. 08614671 (England and Wales)
LEWIS HEATING SERVICES (2013) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2023
PAGES FOR FILING WITH REGISTRAR
LEWIS HEATING SERVICES (2013) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LEWIS HEATING SERVICES (2013) LTD
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
23,575
32,244
Current assets
Stocks
3,200
5,000
Debtors
4
84,545
90,971
Cash at bank and in hand
3
3
87,748
95,974
Creditors: amounts falling due within one year
5
(80,909)
(65,042)
Net current assets
6,839
30,932
Total assets less current liabilities
30,414
63,176
Creditors: amounts falling due after more than one year
6
(30,343)
(35,712)
Net assets
71
27,464
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
70
27,463
Total equity
71
27,464
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 20 August 2024
Mr R J Lewis
Director
Company Registration No. 08614671
LEWIS HEATING SERVICES (2013) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2023
- 2 -
1
Accounting policies
Company information
Lewis Heating Services (2013) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Gwynfa, Trewern, Welshpool, Powys, SY21 8EA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% reducing balance
Motor vehicles
25% reducing balance
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.
LEWIS HEATING SERVICES (2013) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2023
1
Accounting policies
(Continued)
- 3 -
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.5
Cash at bank and in hand
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 current liabilities.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax is not accounted for as it is considered immaterial.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
LEWIS HEATING SERVICES (2013) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2023
- 4 -
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 August 2022
44,627
30,770
75,397
Additions
208
208
At 30 July 2023
44,835
30,770
75,605
Depreciation and impairment
At 1 August 2022
35,460
7,693
43,153
Depreciation charged in the year
3,108
5,769
8,877
At 30 July 2023
38,568
13,462
52,030
Carrying amount
At 30 July 2023
6,267
17,308
23,575
At 31 July 2022
9,167
23,077
32,244
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,088
5,207
Other debtors
82,457
85,764
84,545
90,971
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
22,307
21,804
Corporation tax
9,991
6,173
Other taxation and social security
45,450
30,166
Other creditors
4,206
Accruals and deferred income
3,161
2,693
80,909
65,042
LEWIS HEATING SERVICES (2013) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2023
- 5 -
6
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
16,057
17,854
Obligations under finance leases
14,286
17,858
30,343
35,712
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
8
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Advance free of interest
-
84,297
75,440
(84,297)
75,440
84,297
75,440
(84,297)
75,440