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COMPANY REGISTRATION NUMBER: 05941588
Cave Heating Limited
Filleted Unaudited Financial Statements
30 September 2024
Cave Heating Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
10,273
15,241
Current assets
Stocks
1,000
1,000
Debtors
6
1,533
6,550
Cash at bank and in hand
34,453
55,726
--------
--------
36,986
63,276
Creditors: amounts falling due within one year
7
21,833
41,720
--------
--------
Net current assets
15,153
21,556
--------
--------
Total assets less current liabilities
25,426
36,797
Creditors: amounts falling due after more than one year
8
1,333
3,333
Provisions
Taxation including deferred tax
1,952
2,896
--------
--------
Net assets
22,141
30,568
--------
--------
Cave Heating Limited
Statement of Financial Position (continued)
30 September 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
22,041
30,468
--------
--------
Shareholders funds
22,141
30,568
--------
--------
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 statement of income and retained earnings has not been delivered.
For the year ending 30 September 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 .
These financial statements were approved by the board of directors and authorised for issue on 13 November 2024 , and are signed on behalf of the board by:
Mr G J Cave
Director
Company registration number: 05941588
Cave Heating Limited
Notes to the Financial Statements
Year ended 30 September 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 40 Kimbolton Road, Bedford, Bedforshire, MK40 2NR.
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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Deferred taxation
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.
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.
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:
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 October 2023
21,050
5,397
26,447
Additions
708
708
Disposals
( 624)
( 624)
--------
-------
--------
At 30 September 2024
21,050
5,481
26,531
--------
-------
--------
Depreciation
At 1 October 2023
6,578
4,628
11,206
Charge for the year
5,262
258
5,520
Disposals
( 468)
( 468)
--------
-------
--------
At 30 September 2024
11,840
4,418
16,258
--------
-------
--------
Carrying amount
At 30 September 2024
9,210
1,063
10,273
--------
-------
--------
At 30 September 2023
14,472
769
15,241
--------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
120
3,215
Other debtors
1,413
3,335
-------
-------
1,533
6,550
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
2,000
2,000
Trade creditors
85
3,681
Corporation tax
1,313
5,686
Other creditors
18,435
30,353
--------
--------
21,833
41,720
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,333
3,333
-------
-------
Bank loans and overdrafts due within one year and after one year are in respect of a Coronavirus Bounce Back loan which is not secured on the assets of the company.