Acorah Software Products - Accounts Production 16.0.110 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 10634048 Mr Daniel Barnes Mrs Rebecca Barnes Mr Daniel Anderson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10634048 2023-06-30 10634048 2024-06-30 10634048 2023-07-01 2024-06-30 10634048 frs-core:CurrentFinancialInstruments 2024-06-30 10634048 frs-core:Non-currentFinancialInstruments 2024-06-30 10634048 frs-core:ComputerEquipment 2024-06-30 10634048 frs-core:ComputerEquipment 2023-07-01 2024-06-30 10634048 frs-core:ComputerEquipment 2023-06-30 10634048 frs-core:PlantMachinery 2024-06-30 10634048 frs-core:PlantMachinery 2023-07-01 2024-06-30 10634048 frs-core:PlantMachinery 2023-06-30 10634048 frs-core:ShareCapital 2024-06-30 10634048 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 10634048 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10634048 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 10634048 frs-bus:SmallEntities 2023-07-01 2024-06-30 10634048 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10634048 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10634048 frs-bus:Director1 2023-07-01 2024-06-30 10634048 frs-bus:Director1 2023-06-30 10634048 frs-bus:Director1 2024-06-30 10634048 frs-bus:Director2 2023-07-01 2024-06-30 10634048 frs-bus:Director3 2023-07-01 2024-06-30 10634048 frs-core:CurrentFinancialInstruments 1 2024-06-30 10634048 frs-countries:EnglandWales 2023-07-01 2024-06-30 10634048 2022-06-30 10634048 2023-06-30 10634048 2022-07-01 2023-06-30 10634048 frs-core:CurrentFinancialInstruments 2023-06-30 10634048 frs-core:Non-currentFinancialInstruments 2023-06-30 10634048 frs-core:ShareCapital 2023-06-30 10634048 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 10634048 frs-core:CurrentFinancialInstruments 1 2023-06-30
Registered number: 10634048
Hybrid Heat Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Mayers
33 Mary Seacole Road
The Millfields
Plymouth
PL1 3JY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10634048
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,473 1,981
2,473 1,981
CURRENT ASSETS
Stocks 5 16,384 99,622
Debtors 6 37,361 125,696
Cash at bank and in hand 20,398 16,434
74,143 241,752
Creditors: Amounts Falling Due Within One Year 7 (42,011 ) (154,892 )
NET CURRENT ASSETS (LIABILITIES) 32,132 86,860
TOTAL ASSETS LESS CURRENT LIABILITIES 34,605 88,841
Creditors: Amounts Falling Due After More Than One Year 8 (33,324 ) (38,621 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (470 ) (376 )
NET ASSETS 811 49,844
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account 801 49,834
SHAREHOLDERS' FUNDS 811 49,844
Page 1
Page 2
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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Daniel Barnes
Director
1 November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Hybrid Heat Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10634048 . The registered office is 33 Mary Seacole Road, Plymouth, Devon, PL1 3JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Computer Equipment 25% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 1,170 3,924 5,094
Additions 475 1,879 2,354
As at 30 June 2024 1,645 5,803 7,448
Depreciation
As at 1 July 2023 293 2,820 3,113
Provided during the period 411 1,451 1,862
As at 30 June 2024 704 4,271 4,975
Net Book Value
As at 30 June 2024 941 1,532 2,473
As at 1 July 2023 877 1,104 1,981
5. Stocks
2024 2023
£ £
Work in progress 16,384 99,622
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,330 106,318
Other debtors 1,853 -
Simple Solar (SW) Ltd 5,000 -
Corporation tax recoverable assets 2,857 -
VAT 8,321 19,378
37,361 125,696
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 35,097 61,093
Corporation tax - 27,046
Other taxes and social security 2,548 5,684
Capital on Tap 2,729 12,768
Accrued expenses 1,220 1,160
Directors' loan accounts 417 47,141
42,011 154,892
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 33,324 38,621
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
10. Directors Advances, Credits and Guarantees
Included within creditors is the following loan from the director:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Daniel Barnes (47,141 ) 46,724 - - (417 )
The above loan is unsecured, interest free and repayable on demand.
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 38,000 72,500
Page 5