Company registration number 12435713 (England and Wales)
Warmfield Heating Ltd
Annual Report and
Unaudited Financial Statements
for the year ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
Warmfield Heating Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Warmfield Heating Ltd
Statement of financial position
as at 31 March 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
6,000
12,000
Tangible assets
4
2,655
3,540
8,655
15,540
Current assets
Stocks
6,000
7,200
Debtors
27,907
44,171
Cash at bank and in hand
4,000
6,109
37,907
57,480
Creditors: amounts falling due within one year
(26,312)
(45,914)
Net current assets
11,595
11,566
Total assets less current liabilities
20,250
27,106
Creditors: amounts falling due after more than one year
(23,666)
(25,833)
Provisions for liabilities
(664)
(885)
Net (liabilities)/assets
(4,080)
388
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(4,180)
288
Total equity
(4,080)
388

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

Warmfield Heating Ltd
Statement of financial position (continued)
as at 31 March 2024
31 March 2024
- 2 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 5 November 2024 and are signed on its behalf by:
R Tingle
Director
Company Registration No. 12435713
Warmfield Heating Ltd
Notes to the financial statements
for the year ended 31 March 2024
- 3 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax, Turnover is recognised on the supply of goods to the customer.

Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance
Motor vehicles
25% reducing balance
Stocks

Stock is valued at the lower of cost and net realisable value.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end 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 represent accumulated differences between the company's taxable profit and its financial profit arise primarily from the differences between the accelerated capital allowances and depreciation.

Warmfield Heating Ltd
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
4
3
Intangible fixed assets
Total
£
Cost
At 1 April 2023 and 31 March 2024
30,000
Amortisation and impairment
At 1 April 2023
18,000
Amortisation charged for the year
6,000
At 31 March 2024
24,000
Carrying amount
At 31 March 2024
6,000
At 31 March 2023
12,000
4
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
2,681
4,603
7,284
Depreciation and impairment
At 1 April 2023
1,083
2,661
3,744
Depreciation charged in the year
400
485
885
At 31 March 2024
1,483
3,146
4,629
Carrying amount
At 31 March 2024
1,198
1,457
2,655
At 31 March 2023
1,598
1,942
3,540
5
Company information

Warmfield Heating Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 61 Warmfield Lane, Warmfield, Wakefield, West Yorkshire, WF1 5TL.

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