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REGISTERED NUMBER: 01104666 (England and Wales)







STATUS HEATING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






STATUS HEATING LIMITED (REGISTERED NUMBER: 01104666)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STATUS HEATING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: L R J Skillett
R W Bone





REGISTERED OFFICE: Brook House
153 Newborough Road
Shirley
Solihull
B90 2HE





REGISTERED NUMBER: 01104666 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
Corner Oak
1 Homer Road
Solihull
B91 3QG

STATUS HEATING LIMITED (REGISTERED NUMBER: 01104666)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 58,811 64,489

CURRENT ASSETS
Stocks 193,472 218,971
Debtors 4 477,884 891,166
Cash at bank 794,363 367,193
1,465,719 1,477,330
CREDITORS
Amounts falling due within one year 5 571,133 616,614
NET CURRENT ASSETS 894,586 860,716
TOTAL ASSETS LESS CURRENT
LIABILITIES

953,397

925,205

PROVISIONS FOR LIABILITIES 14,707 3,715
NET ASSETS 938,690 921,490

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 938,540 921,340
938,690 921,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

STATUS HEATING LIMITED (REGISTERED NUMBER: 01104666)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by:





L R J Skillett - Director


STATUS HEATING LIMITED (REGISTERED NUMBER: 01104666)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. 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 - 33.33% on cost and 25% on reducing balance
Computer software - Straight line over 10 years

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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 39 ) .

STATUS HEATING LIMITED (REGISTERED NUMBER: 01104666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. TANGIBLE FIXED ASSETS
Fixtures
Contracted Plant and and Computer
assets machinery fittings software Totals
£    £    £    £    £   
COST
At 1 April 2023 - 34,872 28,046 107,401 170,319
Additions 4,133 1,335 - - 5,468
At 31 March 2024 4,133 36,207 28,046 107,401 175,787
DEPRECIATION
At 1 April 2023 - 33,993 28,023 43,814 105,830
Charge for year 55 328 23 10,740 11,146
At 31 March 2024 55 34,321 28,046 54,554 116,976
NET BOOK VALUE
At 31 March 2024 4,078 1,886 - 52,847 58,811
At 31 March 2023 - 879 23 63,587 64,489

Contracted assets relate to the purchase of tangible items to fulfill the obligations of the Status ONE contract. Status Heating Limited has full rights and obligations to these items during the 10 year life of the contract and are depreciated on a 10 year straight line basis.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 337,769 678,752
Other debtors 140,115 212,414
477,884 891,166

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 284,687 381,110
Taxation and social security 136,682 125,314
Other creditors 149,764 110,190
571,133 616,614

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 95,625 152,882
Between one and five years 34,106 96,838
129,731 249,720

STATUS HEATING LIMITED (REGISTERED NUMBER: 01104666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
L R J Skillett
Balance outstanding at start of year 5,988 3,289
Amounts advanced 2,973 11,649
Amounts repaid (8,961 ) (8,950 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 5,988

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. ULTIMATE PARENT UNDERTAKING

The ultimate parent undertaking is Status Midlands Limited.