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REGISTERED NUMBER: SC589835 (Scotland)















Unaudited Financial Statements For The Year Ended 28 February 2024

for

HEAT IT UP LTD

HEAT IT UP LTD (Registered number: SC589835)






Contents of the Financial Statements
For The Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HEAT IT UP LTD

Company Information
For The Year Ended 28 February 2024







DIRECTOR: A Khan





REGISTERED OFFICE: 1 Fraser Avenue
Newton Mearns
Glasgow
G77 6HW





REGISTERED NUMBER: SC589835 (Scotland)





ACCOUNTANTS: Ahmad & Nabi Mcmullan
95-107 Lancefield Street
Glasgow
Lanarkshire
G3 8HZ

HEAT IT UP LTD (Registered number: SC589835)

Balance Sheet
28 February 2024

28.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,877 -

CURRENT ASSETS
Stocks 1,800 1,950
Debtors 5 11,229 14,001
Cash at bank and in hand 4,698 4,476
17,727 20,427
CREDITORS
Amounts falling due within one year 6 10,795 20,358
NET CURRENT ASSETS 6,932 69
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,809

69

CREDITORS
Amounts falling due after more than one
year

7

29,679

-
NET ASSETS 130 69

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 129 68
SHAREHOLDERS' FUNDS 130 69

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HEAT IT UP LTD (Registered number: SC589835)

Balance Sheet - continued
28 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2024 and were signed by:





A Khan - Director


HEAT IT UP LTD (Registered number: SC589835)

Notes to the Financial Statements
For The Year Ended 28 February 2024

1. STATUTORY INFORMATION

HEAT IT UP LTD is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 - 20% 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 Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

HEAT IT UP LTD (Registered number: SC589835)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
Additions 28,596
At 28 February 2024 28,596
DEPRECIATION
Charge for year 5,719
At 28 February 2024 5,719
NET BOOK VALUE
At 28 February 2024 22,877

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Other debtors 11,229 14,001

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Bank loans and overdrafts 5,015 16,551
Pension accrual 37 -
Tax 4,723 2,667
Accrued expenses 1,020 1,140
10,795 20,358

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.24 28.2.23
£    £   
Bank loans - 2-5 years 29,679 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.24 28.2.23
value: £    £   
1 Ordinary £1.00 1 1

HEAT IT UP LTD (Registered number: SC589835)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2024

9. RESERVES
Retained
earnings
£   

At 1 March 2023 68
Profit for the year 8,061
Dividends (8,000 )
At 28 February 2024 129