Acorah Software Products - Accounts Production 14.5.601 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 07699194 Mr Carlos Greenwood Mr Paul Greenwood Mr Paul Greenwood Mr Paul Greenwood and Mr Carlos Greenwood true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07699194 2023-02-28 07699194 2024-02-29 07699194 2023-03-01 2024-02-29 07699194 frs-core:CurrentFinancialInstruments 2024-02-29 07699194 frs-core:Non-currentFinancialInstruments 2024-02-29 07699194 frs-core:BetweenOneFiveYears 2024-02-29 07699194 frs-core:FurnitureFittings 2024-02-29 07699194 frs-core:FurnitureFittings 2023-03-01 2024-02-29 07699194 frs-core:FurnitureFittings 2023-02-28 07699194 frs-core:PlantMachinery 2024-02-29 07699194 frs-core:PlantMachinery 2023-03-01 2024-02-29 07699194 frs-core:PlantMachinery 2023-02-28 07699194 frs-core:WithinOneYear 2024-02-29 07699194 frs-core:ShareCapital 2024-02-29 07699194 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 07699194 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07699194 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 07699194 frs-bus:SmallEntities 2023-03-01 2024-02-29 07699194 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 07699194 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07699194 1 2023-03-01 2024-02-29 07699194 frs-bus:Director1 2023-03-01 2024-02-29 07699194 frs-bus:Director2 2023-03-01 2024-02-29 07699194 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 07699194 frs-countries:EnglandWales 2023-03-01 2024-02-29 07699194 2022-02-28 07699194 2023-02-28 07699194 2022-03-01 2023-02-28 07699194 frs-core:CurrentFinancialInstruments 2023-02-28 07699194 frs-core:Non-currentFinancialInstruments 2023-02-28 07699194 frs-core:BetweenOneFiveYears 2023-02-28 07699194 frs-core:WithinOneYear 2023-02-28 07699194 frs-core:ShareCapital 2023-02-28 07699194 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 07699194
Essex Heating Solutions Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
LPTA Limited
Chartered Certified Accountants
Priory Road
Priory Place
Tiptree
Essex
CO5 0QE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07699194
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,738 7,664
11,738 7,664
CURRENT ASSETS
Stocks 5 1,060 817
Debtors 6 15,697 30,511
Cash at bank and in hand 63,559 54,864
80,316 86,192
Creditors: Amounts Falling Due Within One Year 7 (41,024 ) (44,126 )
NET CURRENT ASSETS (LIABILITIES) 39,292 42,066
TOTAL ASSETS LESS CURRENT LIABILITIES 51,030 49,730
Creditors: Amounts Falling Due After More Than One Year 8 (15,500 ) (18,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,619 ) (1,415 )
NET ASSETS 32,911 30,315
CAPITAL AND RESERVES
Called up share capital 10 120 120
Profit and Loss Account 32,791 30,195
SHAREHOLDERS' FUNDS 32,911 30,315
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For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Carlos Greenwood
Director
23rd September 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Essex Heating Solutions Limited Registered number 07699194 is a limited by shares company incorporated in England & Wales. The Registered Office is 47 Wellands, Wickham Bishops, Witham, CM8 3NF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing balance
Fixtures & Fittings 20% Reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 6)
5 6
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 March 2023 16,983 1,266 18,249
Additions 9,627 - 9,627
Disposals (7,750 ) - (7,750 )
As at 29 February 2024 18,860 1,266 20,126
Depreciation
As at 1 March 2023 9,967 618 10,585
Provided during the period 3,329 130 3,459
Disposals (5,656 ) - (5,656 )
As at 29 February 2024 7,640 748 8,388
Net Book Value
As at 29 February 2024 11,220 518 11,738
As at 1 March 2023 7,016 648 7,664
5. Stocks
2024 2023
£ £
Stock of Materials 1,060 817
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,622 26,943
Prepayments and accrued income 5,075 3,568
15,697 30,511
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,000 -
Trade creditors 16,455 9,813
Bank loans and overdrafts 8,000 8,000
Corporation tax 8,331 16,497
Other taxes and social security 1,566 1,356
VAT 2,257 7,139
Accruals and deferred income 1,255 1,195
Directors' loan accounts 160 126
41,024 44,126
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,500 -
Bounce Back Loan +1yr 10,000 18,000
15,500 18,000
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,000 -
Later than one year and not later than five years 5,500 -
8,500 -
8,500 -
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 120 120
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
12. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 36,000 100,000
13. Ultimate Controlling Party
The company's ultimate controlling party is Mr Paul Greenwood and Mr Carlos Greenwood by virtue of their ownership of 83.33% of the issued share capital in the company.
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