BrightAccountsProduction v1.0.0 v1.0.0 2023-05-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is plumbing and heating. 29 October 2024 13 14 NI607194 2024-04-30 NI607194 2023-04-30 NI607194 2022-04-30 NI607194 2023-05-01 2024-04-30 NI607194 2022-05-01 2023-04-30 NI607194 uk-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI607194 uk-curr:PoundSterling 2023-05-01 2024-04-30 NI607194 uk-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI607194 uk-bus:FullAccounts 2023-05-01 2024-04-30 NI607194 uk-bus:Director1 2023-05-01 2024-04-30 NI607194 uk-bus:Director2 2023-05-01 2024-04-30 NI607194 uk-bus:Director3 2023-05-01 2024-04-30 NI607194 uk-bus:RegisteredOffice 2023-05-01 2024-04-30 NI607194 uk-bus:Agent1 2023-05-01 2024-04-30 NI607194 uk-bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 NI607194 uk-core:ShareCapital 2024-04-30 NI607194 uk-core:ShareCapital 2023-04-30 NI607194 uk-core:RetainedEarningsAccumulatedLosses 2024-04-30 NI607194 uk-core:RetainedEarningsAccumulatedLosses 2023-04-30 NI607194 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-04-30 NI607194 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-04-30 NI607194 uk-bus:FRS102 2023-05-01 2024-04-30 NI607194 uk-core:LandBuildings 2023-05-01 2024-04-30 NI607194 uk-core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 NI607194 uk-core:MotorVehicles 2023-05-01 2024-04-30 NI607194 uk-core:CurrentFinancialInstruments 2024-04-30 NI607194 uk-core:CurrentFinancialInstruments 2023-04-30 NI607194 uk-core:WithinOneYear 2024-04-30 NI607194 uk-core:WithinOneYear 2023-04-30 NI607194 uk-core:WithinOneYear 2024-04-30 NI607194 uk-core:WithinOneYear 2023-04-30 NI607194 uk-core:WithinOneYear 2024-04-30 NI607194 uk-core:WithinOneYear 2023-04-30 NI607194 uk-core:AfterOneYear 2024-04-30 NI607194 uk-core:AfterOneYear 2023-04-30 NI607194 uk-core:AfterOneYear 2024-04-30 NI607194 uk-core:AfterOneYear 2023-04-30 NI607194 uk-core:BetweenOneTwoYears 2024-04-30 NI607194 uk-core:BetweenOneTwoYears 2023-04-30 NI607194 uk-core:BetweenTwoFiveYears 2024-04-30 NI607194 uk-core:BetweenTwoFiveYears 2023-04-30 NI607194 uk-core:BetweenOneFiveYears 2024-04-30 NI607194 uk-core:BetweenOneFiveYears 2023-04-30 NI607194 uk-core:OtherMiscellaneousReserve 2023-04-30 NI607194 uk-core:OtherMiscellaneousReserve 2023-05-01 2024-04-30 NI607194 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-04-30 NI607194 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-04-30 NI607194 uk-core:OtherDeferredTax 2024-04-30 NI607194 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-04-30 NI607194 uk-core:OtherMiscellaneousReserve 2024-04-30 NI607194 2023-05-01 2024-04-30 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI607194
 
 
Heaney Heating Limited
 
Unaudited Financial Statements
 
for the financial year ended 30 April 2024



Heaney Heating Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Nicole Heaney
Ryan Heaney
Paul Heaney
 
 
Company Registration Number NI607194
 
 
Registered Office and Business Address 15 Burnside Drive
Belfast
BT8 8DD
Northern Ireland
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
BT1 1PG
 
 
Bankers HSBC
  25-29 Royal Avenue
  Belfast
  BT1 1FB



Heaney Heating Limited

CHARTERED ACCOUNTANTS REPORT
to the Board of Directors on the Compilation of the unaudited financial statements of Heaney Heating Limited
for the financial year ended 30 April 2024
 
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 30 April 2024 as set out on pages  to 12 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the Board of Directors of Heaney Heating Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Statement of Financial Position for the year ended 30 April 2024 your duty to ensure that Heaney Heating Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Heaney Heating Limited. You consider that Heaney Heating Limited is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of Heaney Heating Limited. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
 
 
 
__________________________________
QUARTER
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
BT1 1PG
 
29 October 2024



Heaney Heating Limited
Company Registration Number: NI607194
STATEMENT OF FINANCIAL POSITION
as at 30 April 2024

2024 2023
Notes £ £
 
Non-Current Assets
Property, plant and equipment 5 587,285 77,827
───────── ─────────
 
Current Assets
Inventories 6 16,295 20,397
Receivables 7 50,059 38,865
Cash and cash equivalents 99,190 176,911
───────── ─────────
165,544 236,173
───────── ─────────
Payables: amounts falling due within one year 8 (436,163) (264,021)
───────── ─────────
Net Current Liabilities (270,619) (27,848)
───────── ─────────
Total Assets less Current Liabilities 316,666 49,979
 
Payables:
amounts falling due after more than one year 9 (305,292) (25,561)
 
Provisions for liabilities 11 (17,536) (19,457)
───────── ─────────
Net (Liabilities)/Assets (6,162) 4,961
═════════ ═════════
 
Equity
Called up share capital 2 2
Retained earnings (6,164) 4,959
───────── ─────────
Equity attributable to owners of the company (6,162) 4,961
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.
           
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 29 October 2024 and signed on its behalf by
           
           
________________________________          
Ryan Heaney          
Director          
           



Heaney Heating Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 April 2024

   
1. General Information
 
Heaney Heating Limited is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 15 Burnside Drive, Belfast, BT8 8DD, Northern Ireland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the period ended 30 April 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Revenue
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 4% Straight line
  Fixtures, fittings and equipment - 25% reducing balance
  Motor vehicles - 20% reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Property, plant and equipment held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement.
 
Inventories
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other receivables
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other payables
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
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.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Going concern
 
At 30th April 2024 the balance sheet showed a deficiency of assets of £6,162. The company remains reliant upon the support of its directors.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was 13. (2023 - 14).
 
  2024 2023
  Number Number
 
All 13 14
  ═════════ ═════════
           
5. Property, plant and equipment
  Land and Fixtures, Motor Total
  buildings fittings and vehicles  
  freehold equipment    
  £ £ £ £
Cost or Valuation
At 1 May 2023 - 28,837 222,474 251,311
Additions 483,528 328 51,644 535,500
  ───────── ───────── ───────── ─────────
At 30 April 2024 483,528 29,165 274,118 786,811
  ───────── ───────── ───────── ─────────
Depreciation
At 1 May 2023 - 21,975 151,509 173,484
Charge for the financial year - 1,520 24,522 26,042
  ───────── ───────── ───────── ─────────
At 30 April 2024 - 23,495 176,031 199,526
  ───────── ───────── ───────── ─────────
Carrying amount
At 30 April 2024 483,528 5,670 98,087 587,285
  ═════════ ═════════ ═════════ ═════════
At 30 April 2023 - 6,862 70,965 77,827
  ═════════ ═════════ ═════════ ═════════
           
5.1. Property, plant and equipment continued
 
Included above are assets held under finance leases or hire purchase contracts as follows:
 
  2024   2023  
  Carrying Depreciation Carrying Depreciation
  amount charge amount charge
  £ £ £ £
 
Motor vehicles 58,442 14,610 47,098 15,699
  ═════════ ═════════ ═════════ ═════════
       
6. Inventories 2024 2023
  £ £
 
Work in progress 16,295 20,397
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
7. Receivables 2024 2023
  £ £
 
Trade receivables 45,841 31,197
Other debtors 4,185 7,635
Prepayments and accrued income 33 33
  ───────── ─────────
  50,059 38,865
  ═════════ ═════════
       
8. Payables 2024 2023
Amounts falling due within one year £ £
 
Bank loan 38,283 9,973
Net obligations under finance leases
and hire purchase contracts 16,343 14,890
Trade payables 109,155 53,271
Taxation  (Note 10) 14,128 17,923
Directors' current accounts 175,148 21,105
Other creditors 79,981 143,734
Accruals 3,125 3,125
  ───────── ─────────
  436,163 264,021
  ═════════ ═════════
       
9. Payables 2024 2023
Amounts falling due after more than one year £ £
 
Bank loan 269,184 21,596
Finance leases and hire purchase contracts 36,108 3,965
  ───────── ─────────
  305,292 25,561
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 8) 38,283 9,973
Repayable between one and two years 45,493 10,225
Repayable between two and five years 223,691 11,371
  ───────── ─────────
  307,467 31,569
  ═════════ ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable within one year 16,343 14,890
Repayable between one and five years 36,108 3,965
  ───────── ─────────
  52,451 18,855
  ═════════ ═════════
       
10. Taxation 2024 2023
  £ £
 
Payables:
VAT 7,486 10,264
Corporation tax 1 2,643
PAYE / NI 6,641 5,016
  ───────── ─────────
  14,128 17,923
  ═════════ ═════════
           
11. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Losses Total Total
  allowances      
         
      2024 2023
  £ £ £ £
 
At financial year start 19,457 - 19,457 16,820
Charged to profit and loss 6,483 (8,404) (1,921) 2,637
  ───────── ───────── ───────── ─────────
At financial year end 25,940 (8,404) 17,536 19,457
  ═════════ ═════════ ═════════ ═════════
           
12. Related party transactions
 
Heaney Heating Services (NI) Ltd
Nicole Heaney is a director of Heaney Heating Ltd. She is also a director and shareholder of Heaney Heating Services (NI) Ltd. As at 1 May 2023, Heaney Heating Ltd owed Heaney Heating Services (NI) Ltd a total of £124,486. In the period the net transactions between Heaney Heating Services (NI) Ltd and Heaney Heating Limited amounted to £102,772. This resulted in a closing balance of £21,714 due to Heaney Heating Services (NI) Ltd.
This amount is included within Other Creditors.

Heaney Heating Plumbing Ltd
Paul Heaney is a director in Heaney Heating Ltd. He is also a director and shareholder in Heaney Heating Plumbing Ltd. As at 1 May 2023, Heaney Heating Plumbing Ltd owed Heaney Heating Ltd a total of £19,248.  In the period the net transactions between Heaney Heating Plumbing Ltd and Heaney Heating Limited amounted to £39,019. This resulted in a closing balance due to Heaney Heating Plumbing Ltd of £58,267.
This amount is included within Other Creditors.

The above balances are interest free and repayable upon demand.
   
13. Directors' advances, credits and guarantees
 
At 1 May 2023, £19,105 was owed to the directors. Net transactions during the period amount to £156,042. At 30 April 2024, £175,147 was owed to the directors. These loans are interest free and repayable on demand.