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REGISTERED NUMBER: 03261574 (England and Wales)















Octagon Heating Services Ltd.
Trading as
OHS

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2024






Octagon Heating Services Ltd. (Registered number: 03261574)
Trading as OHS






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Octagon Heating Services Ltd.
Trading as OHS

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J M Hopkins



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 03261574 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Lloyds Bank plc
697 Fishponds Road
Fishponds
Bristol
BS16 3UJ

Octagon Heating Services Ltd. (Registered number: 03261574)
Trading as OHS

Abridged Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 143,643 104,433

CURRENT ASSETS
Stocks 15,000 15,000
Debtors 6 653,489 496,815
Cash at bank and in hand 244,760 324,105
913,249 835,920
CREDITORS
Amounts falling due within one year 457,558 443,075
NET CURRENT ASSETS 455,691 392,845
TOTAL ASSETS LESS CURRENT
LIABILITIES

599,334

497,278

CREDITORS
Amounts falling due after more than one
year

(148,180

)

(173,491

)

PROVISIONS FOR LIABILITIES (25,596 ) (11,502 )
NET ASSETS 425,558 312,285

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 425,458 312,185
SHAREHOLDERS' FUNDS 425,558 312,285

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

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

The director acknowledges his 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.

Octagon Heating Services Ltd. (Registered number: 03261574)
Trading as OHS

Abridged Statement of Financial Position - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 28 October 2024 and were signed by:





J M Hopkins - Director


Octagon Heating Services Ltd. (Registered number: 03261574)
Trading as OHS

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

1. STATUTORY INFORMATION

Octagon Heating Services Ltd. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 33% on reducing balance, 25% on reducing balance and over life of lease

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Octagon Heating Services Ltd. (Registered number: 03261574)
Trading as OHS

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

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 17 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 345,660
Additions 88,587
At 31 March 2024 434,247
DEPRECIATION
At 1 April 2023 241,227
Charge for year 49,377
At 31 March 2024 290,604
NET BOOK VALUE
At 31 March 2024 143,643
At 31 March 2023 104,433

Octagon Heating Services Ltd. (Registered number: 03261574)
Trading as OHS

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023 208,937
Additions 76,750
At 31 March 2024 285,687
DEPRECIATION
At 1 April 2023 135,417
Charge for year 30,535
At 31 March 2024 165,952
NET BOOK VALUE
At 31 March 2024 119,735
At 31 March 2023 73,520

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other debtors 12,229 17,163

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 38,678 24,022
Between one and five years 89,090 59,855
127,768 83,877

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 1,066 22,448
Between one and five years - 1,066
1,066 23,514

Octagon Heating Services Ltd. (Registered number: 03261574)
Trading as OHS

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 127,768 83,877

The hire purchase contracts and finance leases are secured over the specific financed assets.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J M Hopkins.

The company was controlled throughout the current and previous period by its director by virtue of the fact that he owns all of the company's issued share capital.