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REGISTERED NUMBER: 06965891 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Heating Spares Controls Limited

Heating Spares Controls Limited (Registered number: 06965891)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Heating Spares Controls Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: W Robinson
N Brown





REGISTERED OFFICE: Unit 11 & 12 Penistone Road
Trading Estate
Sheffield
Yorkshire
S6 2FL





REGISTERED NUMBER: 06965891 (England and Wales)





ACCOUNTANTS: Rains and Co Ltd
P O Box 5047
Sheffield
South Yorkshire
S6 9GJ

Heating Spares Controls Limited (Registered number: 06965891)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,242 14,030

CURRENT ASSETS
Stocks 178,241 157,000
Debtors 5 103,324 94,227
Cash at bank 106,484 129,348
388,049 380,575
CREDITORS
Amounts falling due within one year 6 153,550 185,288
NET CURRENT ASSETS 234,499 195,287
TOTAL ASSETS LESS CURRENT
LIABILITIES

266,741

209,317

CREDITORS
Amounts falling due after more than
one year

7

(30,837

)

(18,053

)

PROVISIONS FOR LIABILITIES (358 ) (358 )
NET ASSETS 235,546 190,906

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 8 235,396 190,756
SHAREHOLDERS' FUNDS 235,546 190,906

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

Heating Spares Controls Limited (Registered number: 06965891)

Balance Sheet - continued
31 July 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:




W Robinson - Director



N Brown - Director


Heating Spares Controls Limited (Registered number: 06965891)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Heating Spares Controls Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet 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 arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Heating Spares Controls Limited (Registered number: 06965891)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Computer
and
Fixtures Photographic
and Motor Equ
fittings vehicles ipment Totals
£    £    £    £   
COST
At 1 August 2023 6,724 32,379 7,987 47,090
Additions - 39,988 - 39,988
Disposals - (32,379 ) - (32,379 )
At 31 July 2024 6,724 39,988 7,987 54,699
DEPRECIATION
At 1 August 2023 6,428 18,719 7,913 33,060
Charge for year 44 7,998 74 8,116
Eliminated on disposal - (18,719 ) - (18,719 )
At 31 July 2024 6,472 7,998 7,987 22,457
NET BOOK VALUE
At 31 July 2024 252 31,990 - 32,242
At 31 July 2023 296 13,660 74 14,030

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 101,474 92,377
Other debtors 1,850 1,850
103,324 94,227

Heating Spares Controls Limited (Registered number: 06965891)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 66,901 114,710
Taxation and social security 25,300 9,329
Other creditors 61,349 61,249
153,550 185,288

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts 30,837 18,053

8. RESERVES
Retained
earnings
£   

At 1 August 2023 190,756
Profit for the year 54,640
Dividends (10,000 )
At 31 July 2024 235,396