1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 250,000 58,333 25,000 83,333 166,667 191,667 2,455 2,455 2,455 xbrli:pure xbrli:shares iso4217:GBP 13485618 2023-07-01 2024-06-30 13485618 2024-06-30 13485618 2023-06-30 13485618 2022-07-01 2023-06-30 13485618 2023-06-30 13485618 2022-06-30 13485618 core:NetGoodwill 2023-07-01 2024-06-30 13485618 core:PlantMachinery 2023-07-01 2024-06-30 13485618 core:FurnitureFittings 2023-07-01 2024-06-30 13485618 core:MotorVehicles 2023-07-01 2024-06-30 13485618 bus:Director1 2023-07-01 2024-06-30 13485618 core:NetGoodwill 2023-06-30 13485618 core:NetGoodwill 2024-06-30 13485618 core:PlantMachinery 2023-06-30 13485618 core:FurnitureFittings 2023-06-30 13485618 core:MotorVehicles 2023-06-30 13485618 core:PlantMachinery 2024-06-30 13485618 core:FurnitureFittings 2024-06-30 13485618 core:MotorVehicles 2024-06-30 13485618 core:WithinOneYear 2024-06-30 13485618 core:WithinOneYear 2023-06-30 13485618 core:AfterOneYear 2024-06-30 13485618 core:AfterOneYear 2023-06-30 13485618 core:ShareCapital 2024-06-30 13485618 core:ShareCapital 2023-06-30 13485618 core:RetainedEarningsAccumulatedLosses 2024-06-30 13485618 core:RetainedEarningsAccumulatedLosses 2023-06-30 13485618 core:NetGoodwill 2023-06-30 13485618 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 13485618 core:Non-currentFinancialInstruments 2024-06-30 13485618 core:Non-currentFinancialInstruments 2023-06-30 13485618 core:PlantMachinery 2023-06-30 13485618 core:FurnitureFittings 2023-06-30 13485618 core:MotorVehicles 2023-06-30 13485618 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2024-06-30 13485618 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2023-06-30 13485618 bus:SmallEntities 2023-07-01 2024-06-30 13485618 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 13485618 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 13485618 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13485618 bus:FullAccounts 2023-07-01 2024-06-30 13485618 core:ComputerEquipment 2023-07-01 2024-06-30 13485618 core:ComputerEquipment 2023-06-30 13485618 core:ComputerEquipment 2024-06-30
COMPANY REGISTRATION NUMBER: 13485618
Discount Heating and Bathrooms Limited
Filleted Unaudited Financial Statements
30 June 2024
Discount Heating and Bathrooms Limited
Balance Sheet
30 June 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
166,667
191,667
Tangible assets
6
82,683
54,164
Investments
7
2,455
2,455
---------
---------
251,805
248,286
Current assets
Stocks
25,000
35,000
Debtors
8
52,475
73,862
Cash at bank and in hand
60,424
51,736
---------
---------
137,899
160,598
Creditors: amounts falling due within one year
9
91,751
106,145
---------
---------
Net current assets
46,148
54,453
---------
---------
Total assets less current liabilities
297,953
302,739
Creditors: amounts falling due after more than one year
10
232,186
263,051
Provisions
4,757
13,541
---------
---------
Net assets
61,010
26,147
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
60,910
26,047
--------
--------
Shareholders funds
61,010
26,147
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Discount Heating and Bathrooms Limited
Balance Sheet (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 17 October 2024 , and are signed on behalf of the board by:
Mr S G Hale
Director
Company registration number: 13485618
Discount Heating and Bathrooms Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Forge, Bowling Green Yard, Kirkgate, Knaresborough, HG5 8FL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
20% reducing balance
Equipment
-
20% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and third parties and loans to related parties.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
250,000
---------
Amortisation
At 1 July 2023
58,333
Charge for the year
25,000
---------
At 30 June 2024
83,333
---------
Carrying amount
At 30 June 2024
166,667
---------
At 30 June 2023
191,667
---------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 July 2023
10,000
10,414
48,070
961
69,445
Additions
1,666
74,890
76,556
Disposals
( 38,070)
( 38,070)
--------
--------
--------
----
---------
At 30 June 2024
10,000
12,080
84,890
961
107,931
--------
--------
--------
----
---------
Depreciation
At 1 July 2023
3,067
3,155
8,777
282
15,281
Charge for the year
1,386
1,535
12,620
136
15,677
Disposals
( 5,710)
( 5,710)
--------
--------
--------
----
---------
At 30 June 2024
4,453
4,690
15,687
418
25,248
--------
--------
--------
----
---------
Carrying amount
At 30 June 2024
5,547
7,390
69,203
543
82,683
--------
--------
--------
----
---------
At 30 June 2023
6,933
7,259
39,293
679
54,164
--------
--------
--------
----
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 30 June 2024
63,657
--------
At 30 June 2023
32,360
--------
7. Investments
Other investments other than loans
£
Cost
At 1 July 2023 and 30 June 2024
2,455
-------
Impairment
At 1 July 2023 and 30 June 2024
-------
Carrying amount
At 30 June 2024
2,455
-------
At 30 June 2023
2,455
-------
8. Debtors
2024
2023
£
£
Trade debtors
52,475
73,862
--------
--------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
51,550
64,546
Social security and other taxes
29,341
23,302
Other creditors
10,860
18,297
--------
---------
91,751
106,145
--------
---------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
232,186
263,051
---------
---------