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HEAT PUMP CENTRAL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






HEAT PUMP CENTRAL LTD (REGISTERED NUMBER: 10474606)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HEAT PUMP CENTRAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: T J Fowkes
P N Fowkes





REGISTERED OFFICE: Unit 16 Dunstall Park Road
Derby
DE24 8HJ





REGISTERED NUMBER: 10474606 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

HEAT PUMP CENTRAL LTD (REGISTERED NUMBER: 10474606)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 471,936 466,656

CURRENT ASSETS
Stocks 74,113 10,557
Debtors 5 43,727 182,573
Cash at bank 15,050 49,536
132,890 242,666
CREDITORS
Amounts falling due within one year 6 207,992 263,636
NET CURRENT LIABILITIES (75,102 ) (20,970 )
TOTAL ASSETS LESS CURRENT LIABILITIES 396,834 445,686

CREDITORS
Amounts falling due after more than one year 7 (203,741 ) (209,560 )

PROVISIONS FOR LIABILITIES 9 (3,100 ) (5,856 )
NET ASSETS 189,993 230,270

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 189,893 230,170
SHAREHOLDERS' FUNDS 189,993 230,270

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:




P N Fowkes - Director


HEAT PUMP CENTRAL LTD (REGISTERED NUMBER: 10474606)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Heat Pump Central Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

HEAT PUMP CENTRAL LTD (REGISTERED NUMBER: 10474606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 December 2022 435,832 - 39,907 475,739
Additions - 1,855 14,269 16,124
At 30 November 2023 435,832 1,855 54,176 491,863
DEPRECIATION
At 1 December 2022 - - 9,083 9,083
Charge for year - 336 10,508 10,844
At 30 November 2023 - 336 19,591 19,927
NET BOOK VALUE
At 30 November 2023 435,832 1,519 34,585 471,936
At 30 November 2022 435,832 - 30,824 466,656

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,546 13,895
Other debtors 26,181 168,678
43,727 182,573

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 28,594 28,600
Trade creditors 52,314 19,571
Taxation and social security 4,772 963
Other creditors 122,312 214,502
207,992 263,636

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 203,741 209,560

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 156,020 162,777

HEAT PUMP CENTRAL LTD (REGISTERED NUMBER: 10474606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 232,335 238,160

Bank loans are secured by a charge over the freehold property at Unit 16 Dunstall Park, Derby which is included within tangible fixed assets.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 3,100 5,856

Deferred
tax
£   
Balance at 1 December 2022 5,856
Provided during year (2,756 )
Balance at 30 November 2023 3,100

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary Shares £1 100 100