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REGISTRAR OF COMPANIES

Registration number: 09566213

First Central Heating Company Limited

Financial Statements

30 April 2024

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First Central Heating Company Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2

 

First Central Heating Company Limited

(Registration number: 09566213)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

645,651

927,422

Cash at bank and in hand

 

1,067,724

667,181

 

1,713,375

1,594,603

Creditors: Amounts falling due within one year

5

(459,096)

(562,778)

Net assets

 

1,254,279

1,031,825

Capital and reserves

 

Allotted, called up and fully paid share capital

55

55

Share premium reserve

449,950

449,950

Profit and loss account

804,274

581,820

Total equity

 

1,254,279

1,031,825

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 September 2024 and signed on its behalf by:
 

.........................................

D Carroll

Director

 

First Central Heating Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Castletown Office
Rockcliffe
CARLISLE
CA6 4BN

The principal place of business is:
First Central
Park Royal
Brent
LONDON
NW10 7GQ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 19 September 2024 was Mike Kirsopp FCA, who signed for and on behalf of Dodd & Co Audit Limited.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

First Central Heating Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Debtors

2024
£

2023
£

Trade debtors

279,477

509,800

Other debtors

366,174

417,622

645,651

927,422

 

First Central Heating Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)

5

Creditors

2024
£

2023
£

Due within one year

 

Trade creditors

 

230,184

381,206

Corporation tax liability

 

74,201

38,380

Other creditors

 

154,711

143,192

 

459,096

562,778