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Registered Number: 08751314
England and Wales

 

 

 

PP HEAT LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Directors Jenny Quinn
Michael Phillip Quinn
Registered Number 08751314
Registered Office Delphi, The Street Delphi
The Street
Swallowfield
Reading
RG7 1RE
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 January 2024.
Principal activities
Principal activity of the company during the financial year was of plumbing, heating and air-conditioning installation.
Directors
The directors who served the company throughout the year were as follows:
Jenny Quinn
Michael Phillip Quinn

This report was approved by the board and signed on its behalf by:


----------------------------------
Jenny Quinn
Director
----------------------------------
Michael Phillip Quinn
Director

Date approved: 20 May 2024
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 27,121    36,881 
27,121    36,881 
Current assets      
Stocks 4 4,500    10,000 
Debtors 5 82,265    50,211 
Cash at bank and in hand 7,020    22,483 
93,785    82,694 
Creditors: amount falling due within one year 6 (95,676)   (67,814)
Net current assets (1,891)   14,880 
 
Total assets less current liabilities 25,230    51,761 
Creditors: amount falling due after more than one year 7 (19,761)   (44,380)
Provisions for liabilities 8 (5,153)   (7,008)
Net assets 316    373 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 314    371 
Shareholders' funds 316    373 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 20 May 2024 and were signed on its behalf by:


-------------------------------
Jenny Quinn
Director
-------------------------------
Michael Phillip Quinn
Director
3
General Information
PP Heat Limited is a private company, limited by shares, registered in England and Wales, registration number 08751314, registration address Delphi, The Street Delphi, The Street, Swallowfield, Reading, RG7 1RE.

The presentation currency is £ sterling.
1.

Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in compliance 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 as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
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
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Motor Vehicles 25% Reducing Balance
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 33% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 6).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 February 2023 3,340    81,585    1,046    6,623    92,594 
Additions       707    707 
Disposals        
At 31 January 2024 3,340    81,585    1,046    7,330    93,301 
Depreciation
At 01 February 2023 2,923    47,661    209    4,920    55,713 
Charge for year 104    8,480    168    1,715    10,467 
On disposals        
At 31 January 2024 3,027    56,141    377    6,635    66,180 
Net book values
Closing balance as at 31 January 2024 313    25,444    669    695    27,121 
Opening balance as at 01 February 2023 417    33,924    837    1,703    36,881 

The net book value of Motor Vehicles includes £ 13,078 (2023 £17,437) in respect of assets leased under finance leases or hire purchase contracts.

4.

Stocks

2024
£
  2023
£
Stocks 4,500    10,000 
4,500    10,000 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 4,132    7,069 
Prepayments & Accrued Income 2,631    9,175 
Amounts Recoverable on Contracts 5,162    5,000 
Other Debtors 7,200    7,200 
Taxation Recoverable 15,779    5,339 
Directors Loan Accounts 47,361    16,428 
82,265    50,211 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 17,678    1,222 
Bank Loans - less than 1 year 10,082    10,000 
Hire Purchase - less than 1 year   7,238 
Social Security and Other Tax 65,031    45,872 
Accrued Expenses 2,225    2,813 
Other Creditors 660    669 
95,676    67,814 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans - 1-2 years 10,574    10,000 
Bank Loans - 2-5 years 9,187    18,333 
Hire Purchase - 2-5 years   16,047 
19,761    44,380 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 5,153    7,008 
5,153    7,008 

9.

Director’s loan

Directors' Advances, Credits and Guarantees


The opening debit postion of Director loan was £16,428. During the year advances totalling £58,891 were made to the director. Repayments made by the director during the year totalled £27,958. The closing debit postion of Director loan was £47,361.
10.

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.
4