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Registered number: 13353672
Elburton Heating Ltd
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13353672
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,675 10,881
9,675 10,881
CURRENT ASSETS
Debtors 5 10,159 7,518
Cash at bank and in hand 23,357 27,366
33,516 34,884
Creditors: Amounts Falling Due Within One Year 6 (11,540 ) (16,669 )
NET CURRENT ASSETS (LIABILITIES) 21,976 18,215
TOTAL ASSETS LESS CURRENT LIABILITIES 31,651 29,096
NET ASSETS 31,651 29,096
CAPITAL AND RESERVES
Called up share capital 7 98 98
Profit and Loss Account 31,553 28,998
SHAREHOLDERS' FUNDS 31,651 29,096
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Andrew Goldsworthy
Director
27 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Elburton Heating Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13353672 . The registered office is 37 Staddon Park Road, Plymouth, PL9 9HL.
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% reducing balance
Motor Vehicles 25% reducing balance
2.4. 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.
Current 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 tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 2,303 16,800 19,103
Additions 1,783 - 1,783
As at 31 March 2024 4,086 16,800 20,886
Depreciation
As at 1 April 2023 872 7,350 8,222
Provided during the period 626 2,363 2,989
As at 31 March 2024 1,498 9,713 11,211
Net Book Value
As at 31 March 2024 2,588 7,087 9,675
As at 1 April 2023 1,431 9,450 10,881
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 293 7,447
Other debtors - 71
Director's loan account 9,866 -
10,159 7,518
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 7,561 9,974
Other taxes and social security 62 -
VAT 2,292 3,256
Accruals and deferred income 1,625 1,620
Director's loan account - 1,819
11,540 16,669
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 98 98
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8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Andrew Goldsworthy (1,819 ) 47,807 (36,123 ) - 9,866
The above loan is unsecured, interest free and repayable on demand.  The balance was repaid on 30 April 2024.
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