Registered number
04319201
Blueflame Heatplan Limited
Filleted Accounts
31 May 2024
Blueflame Heatplan Limited
Registered number: 04319201
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 73,468 67,303
Current assets
Stocks 21,350 29,153
Debtors 4 56,034 99,986
Cash at bank and in hand 242,091 111,649
319,475 240,788
Creditors: amounts falling due within one year 5 (120,216) (83,604)
Net current assets 199,259 157,184
Total assets less current liabilities 272,727 224,487
Creditors: amounts falling due after more than one year 6 (14,145) (27,474)
Provisions for liabilities (16,826) (16,826)
Net assets 241,756 180,187
Capital and reserves
Called up share capital 4 4
Profit and loss account 241,752 180,183
Shareholders' funds 241,756 180,187
The directors are 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 directors acknowledge their 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.
W J Beevers
Director
Approved by the board on 18 September 2024
Blueflame Heatplan Limited
Notes to the Accounts
for the year ended 31 May 2024
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 and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 19 17
3 Tangible fixed assets
Office Equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 6,292 5,194 162,225 173,711
Additions 1,699 - 44,331 46,030
Disposals - - (21,573) (21,573)
At 31 May 2024 7,991 5,194 184,983 198,168
Depreciation
At 1 June 2023 3,791 3,361 99,256 106,408
Charge for the year 630 275 22,780 23,685
On disposals - - (5,393) (5,393)
At 31 May 2024 4,421 3,636 116,643 124,700
Net book value
At 31 May 2024 3,570 1,558 68,340 73,468
At 31 May 2023 2,501 1,833 62,969 67,303
4 Debtors 2024 2023
£ £
Trade debtors 49,825 93,249
Other debtors 6,209 6,737
56,034 99,986
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 3,394 11,615
Trade creditors - 420
Taxation and social security costs 68,258 54,194
Other creditors 38,564 7,375
120,216 83,604
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,145 24,167
Obligations under finance lease and hire purchase contracts - 3,307
14,145 27,474
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 3,394 14,922
[Give an indication of the nature and form of the security for the bank loans]
8 Pension commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents employer contributions payable by the company to the fund and amounted to £ 13,923 (2023 - £153,086). There no contributions outstanding or prepaid at the period end.
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 3,979 10,910
10 Controlling party
The company was under the control of Mr W J Beevers and Mr S J Beevers throughout the period under review.
11 Other information
Blueflame Heatplan Limited is a private company limited by shares and incorporated in England. Its registered office is:
290a Chatsworth Road
Chesterfield
Derbyshire
S40 2BY
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