IRIS Accounts Production v24.2.0.383 08303573 Board of Directors Board of Directors Board of Directors Board of Directors 31.3.24 1.4.23 31.3.24 31.3.24 true true true false true true false false false false true false Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh083035732023-03-31083035732024-03-31083035732023-04-012024-03-31083035732022-03-31083035732022-04-012023-03-31083035732023-03-3108303573ns15:EnglandWales2023-04-012024-03-3108303573ns14:PoundSterling2023-04-012024-03-3108303573ns10:Director12023-04-012024-03-3108303573ns10:Director22023-04-012024-03-3108303573ns10:Director32023-04-012024-03-3108303573ns10:Director42023-04-012024-03-3108303573ns10:CompanySecretary12023-04-012024-03-3108303573ns10:Consolidated2024-03-3108303573ns10:ConsolidatedGroupCompanyAccounts2023-04-012024-03-3108303573ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3108303573ns10:Consolidatedns10:FRS1022023-04-012024-03-3108303573ns10:Consolidatedns10:Audited2023-04-012024-03-3108303573ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-04-012024-03-3108303573ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-04-012024-03-3108303573ns10:Consolidatedns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-04-012024-03-3108303573ns10:LargeMedium-sizedCompaniesRegimeForAccountsns10:Consolidated2023-04-012024-03-3108303573ns10:FullAccounts2023-04-012024-03-3108303573ns5:Subsidiary12023-04-012024-03-3108303573ns5:Subsidiary22023-04-012024-03-3108303573ns10:OrdinaryShareClass12023-04-012024-03-3108303573ns10:Consolidated2023-04-012024-03-3108303573ns10:RegisteredOffice2023-04-012024-03-3108303573ns10:Consolidated2022-04-012023-03-3108303573ns5:CurrentFinancialInstruments2024-03-3108303573ns5:CurrentFinancialInstruments2023-03-3108303573ns5:ShareCapital2024-03-3108303573ns5:ShareCapital2023-03-3108303573ns5:RetainedEarningsAccumulatedLosses2024-03-3108303573ns5:RetainedEarningsAccumulatedLosses2023-03-3108303573ns5:ShareCapital2022-03-3108303573ns5:RetainedEarningsAccumulatedLosses2022-03-3108303573ns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3108303573ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3108303573ns5:PlantMachinery2023-04-012024-03-3108303573ns5:FurnitureFittings2023-04-012024-03-3108303573ns5:MotorVehicles2023-04-012024-03-3108303573ns5:ComputerEquipment2023-04-012024-03-3108303573ns5:CostValuation2023-03-3108303573ns5:AdditionsToInvestments2024-03-3108303573ns5:CostValuation2024-03-3108303573ns5:Subsidiary112023-04-012024-03-31083035733ns5:Subsidiary22023-04-012024-03-3108303573ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3108303573ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3108303573ns10:OrdinaryShareClass12024-03-3108303573ns5:RetainedEarningsAccumulatedLosses2023-03-31
REGISTERED NUMBER: 08303573 (England and Wales)












Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 March 2024

for

Intoheat (Holdings) Limited

Intoheat (Holdings) Limited (Registered number: 08303573)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 18


Intoheat (Holdings) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J G Rankin
C V Timbrell
R Pammenter
S J Carter





SECRETARY: P A Murray





REGISTERED OFFICE: Unit 6/7 Short Way
Thornbury Industrial Estate
Thornbury
Bristol
BS35 3UT





REGISTERED NUMBER: 08303573 (England and Wales)





AUDITORS: Wormald & Partners
Chartered Accountants (ICAEW)
Brunel House
11 The Promenade
Clifton Down
Bristol
BS8 3NG

Intoheat (Holdings) Limited (Registered number: 08303573)

Group Strategic Report
for the Year Ended 31 March 2024

The directors present their strategic report of the company and the group for the year ended 31 March 2024.

REVIEW OF BUSINESS
The principal activity of the group was that of building service engineers.

The year ended 31 March 2024 has again proved to be another testing year for the construction industry with gross margins coming under constance pressure. The group has increased turnover and gross margins within its retail sector which has remained strong and consistent throughout the year. The group plans further investment in its retail sector that will lead to an increase turnover and profitability within the sector in future accounting periods.

However throughout the year the group continued with its reviews of all operations paying particular attention to the management and operational effectiveness of the group.This together with a continued detailed review of staffing levels has seen the group report a healthy profit for the year.

The group will continue with its reviews of it's management and operational effectiveness together with ensuring staffing levels are set as required by the group. Further reviews of all of the group's overheads for the forthcoming accounting year will be conducted if necessary costs will be decreased where ever possible.

By adopting these measures the directors anticipate that budgeted turnover for future accounting periods will be consistent but with an emphasis on improved margins.Together with the cost saving measures already undertaken by the group this will see profitability maintained at current levels for future accounting periods.

Whilst the current market conditions in the construction sector are challenging, the directors however are optimistic that there will be continued and sustained growth across all sectors in the group for the foreseeable future.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risk and uncertainty facing the group relate to the post Covid 19 pandemic and Brexit. These risks have been further compounded by externals worldwide issues beyond the control of the group. The directors ensure that they are fully up to date with the current legislation and closely monitor the ongoing impact this may have on the group.

These risks are further reviewed by the group insisting on the highest standards of safety and control as well as a clear operations plan that is adhered to by all members of staff. There has been an increase in costs to adopt such plans which the directors anticipate will continue into future accounting periods.

The continuing effect post Covid 19, Brexit and the external worldwide issues on the group's operations continues to be unknown.

Despite the above the group's projected level of turnover for the next financial year is indicating that the group's expectations over the next financial year are achievable. However, we will continue to be diligent to ensure that the group's future successes are carefully maintained and significantly improved wherever possible.

SECTION 172(1) STATEMENT
The directors have complied with requirements of S172 of the Companies Act 2006. The duties are detailed in Section 172 of the Companies Act are summaries as follows:

A director of a company must act in the way they consider, in good faith would be most likely to promote the success of the group for the benefit of its shareholders as a whole and, in doing so have regard (amongst other matters) to

The likely consequences of any decisions in the long term,

The interest of the group's employees,

The need to foster the group's business relationships with suppliers, customers and other,

The impact of the group operations on the community and environment,

The desirability of the group maintaining a reputation for high standards of business conduct and

The need to act fairly as between members of the group.


Intoheat (Holdings) Limited (Registered number: 08303573)

Group Strategic Report
for the Year Ended 31 March 2024

FINANCIAL INSTRUMENTS
The group's principal financial instruments comprise of bank balances, bank borrowings, trade creditors and trade debtors. The main purpose of these instruments is to raise funds for and to finance the group's operations. In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and optimization of interest of funds placed in deposit accounts. The group manages the liquidity risk by ensuring there are sufficient funds to meet the payments. Trade creditors liquidity risk is managed by ensuring that sufficient funds are available to make the payments as and when they fall due. Trade debtors and cash flow are managed through credit processes to monitor and pursue overdue receipts from customers.

EMPLOYEE PRACTICES AND OTHER INFORMATION
An equal opportunities statement and policies to ensure employees are treated with dignity, respect, and equality, regardless of gender, race, nationality, ethnic identity, national origin, religious beliefs, disability, age, marital status, family circumstance, sexual orientation or trade union activity are embedded in the group's operations manual which governs all aspects of operations including recruitment, training, promotion and discipline of staff.

RISK MANAGEMENT AND BUSINESS RELATIONSHIPS
The business is growing in terms of turnover and asset acquistion therefore risk management becomes more complex. It is vital for management to identify,evaluate and mitigate risk.

The company has a challenging year with continued uncertainty of Brexit, Covid 19 and other worldwide events to manage business relations. The group and management are developing and maintaining strong relationships with customers, suppliers and others.

ENVIRONMENTAL MATTERS - ENERGY AND CARBON REPORTING
Our energy efficiency actions have continued throughout the year with the following measures:

- Continuous monitoring and control of use of heating and power within all aspects of the group.
- Minimise unnecessary transport movements through scheduling of staff.
- Investing in green energy initiatives.
- Replace fleet vehicles with more efficient vehicles as appropriate.

We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used GHG Reporting Protocol - Corporate Standard.

ON BEHALF OF THE BOARD:





P A Murray - Secretary


5 December 2024

Intoheat (Holdings) Limited (Registered number: 08303573)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of building service engineers.

DIVIDENDS
Interim dividends per share were paid as follows:
15.00 - 7 April 2023
15.00 - 7 July 2023
15.00 - 6 October 2023
15.00 - 8 January 2024
60.00

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2024 will be £ 60,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

J G Rankin
C V Timbrell
R Pammenter
S J Carter

FINANCIAL INSTRUMENTS
The group's activities expose it to a number financial risks including price risk,credit risk,cash flow risk and liquidity risk.

Price Risk

The group is exposed to subcontractor and supplier risk. The group manages its exposure to these risks well by engaging in ongoing negotiations with sub contractors and suppliers over prices.The group looks to fix prices where possible to reduce exposure to price fluctuations.

Credit Risk

The group's principal financial assets are bank and cash balances, trade debtors and other receivables. The group's credit risk is primarily attributable to its trade debtors.The amounts presented in the balance sheet are net of allowances for doubtful reserves.

Liquidity Risk

The group's approach to managing liquidity in respect of bank balances is by successfully maintaining a balance between the continuity of available funding from the company bankers.

Cash Flow Risk

The group's activities expose it primarily to the financial risk of recovering amounts due on contracts. The group manages this risk well by reviewing contract progress on a regular basis and agreeing with customers the stage of completion and amounts due.

POST BALANCE SHEET EVENTS
There have been no significant events affecting the group since the year end.


Intoheat (Holdings) Limited (Registered number: 08303573)

Report of the Directors
for the Year Ended 31 March 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Wormald & Partners, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



P A Murray - Secretary


5 December 2024

Report of the Independent Auditors to the Members of
Intoheat (Holdings) Limited

Opinion
We have audited the financial statements of Intoheat (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Intoheat (Holdings) Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Intoheat (Holdings) Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities - In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

a) The nature of the entity's industry and sector, control environment, business performance and management incentives;

b) The results of our specific enquiries of management and those charged with governance about their
own identification and assessment of the risks of irregularities;

c) Any matters we identified having obtained and reviewed the company's documentation of their policies and procedures, relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

d) The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following area(s): the recognition of revenue. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls.

We also obtained an understanding of the legal and regulatory frameworks in which the company operates, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

Audit response to risks identified - Our procedures to respond to risks identified included the following:

a) Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

b) Enquiring of management concerning actual and potential litigation and claims;

c) Performing analytical procedures to identify and unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

d) Reading minutes of meetings of those charged with governance; and

e) In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.


Report of the Independent Auditors to the Members of
Intoheat (Holdings) Limited

Whilst procedures above describe the extent to which our procedures are capable of detecting irregularities, including fraud, there are inherent limitations in these audit procedures. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, misrepresentation or through collusion. We are not responsible for preventing irregularities, including fraud, or non-compliance with laws and regulations and cannot be expected to detect all irregularities or non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




DILIPKUMAR PATEL FCA (Senior Statutory Auditor)
for and on behalf of Wormald & Partners
Chartered Accountants (ICAEW)
Brunel House
11 The Promenade
Clifton Down
Bristol
BS8 3NG

5 December 2024

Intoheat (Holdings) Limited (Registered number: 08303573)

Consolidated
Income Statement
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 33,349,357 30,981,524

Cost of sales 25,891,563 25,240,020
GROSS PROFIT 7,457,794 5,741,504

Administrative expenses 5,779,468 4,217,689
OPERATING PROFIT 4 1,678,326 1,523,815

Interest receivable and similar income 77,248 17,132
1,755,574 1,540,947

Interest payable and similar expenses 5 10,702 3,320
PROFIT BEFORE TAXATION 1,744,872 1,537,627

Tax on profit 6 515,885 210,056
PROFIT FOR THE FINANCIAL YEAR 1,228,987 1,327,571
Profit attributable to:
Owners of the parent 1,224,623 1,327,571
Non-controlling interests 4,364 -
1,228,987 1,327,571

Intoheat (Holdings) Limited (Registered number: 08303573)

Consolidated
Other Comprehensive Income
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,228,987 1,327,571


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

1,228,987

1,327,571

Total comprehensive income attributable to:
Owners of the parent 1,228,987 1,327,571

Intoheat (Holdings) Limited (Registered number: 08303573)

Consolidated Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 644,953 336,026
Investments 10 - -
644,953 336,026

CURRENT ASSETS
Stocks 11 1,161,474 2,928,989
Debtors 12 6,329,142 6,865,514
Cash at bank and in hand 5,084,859 3,827,507
12,575,475 13,622,010
CREDITORS
Amounts falling due within one year 13 6,140,206 8,374,986
NET CURRENT ASSETS 6,435,269 5,247,024
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,080,222

5,583,050

CREDITORS
Amounts falling due after more than one year 14 (270,051 ) (20,228 )

PROVISIONS FOR LIABILITIES 16 (130,288 ) (51,926 )
NET ASSETS 6,679,883 5,510,896

CAPITAL AND RESERVES
Called up share capital 17 1,000 1,000
Retained earnings 18 6,674,519 5,509,896
SHAREHOLDERS' FUNDS 6,675,519 5,510,896

NON-CONTROLLING INTERESTS 4,364 -
TOTAL EQUITY 6,679,883 5,510,896

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2024 and were signed on its behalf by:




J G Rankin - Director C V Timbrell - Director




R Pammenter - Director S J Carter - Director


Intoheat (Holdings) Limited (Registered number: 08303573)

Company Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 - -
Investments 10 270,825 257,050
270,825 257,050

CURRENT ASSETS
Debtors 12 460,000 422,775
Cash at bank 2,900,906 2,177,701
3,360,906 2,600,476
CREDITORS
Amounts falling due within one year 13 30,695 26,575
NET CURRENT ASSETS 3,330,211 2,573,901
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,601,036

2,830,951

CAPITAL AND RESERVES
Called up share capital 17 1,000 1,000
Retained earnings 18 3,600,036 2,829,951
SHAREHOLDERS' FUNDS 3,601,036 2,830,951

Company's profit for the financial year 830,085 1,059,954

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2024 and were signed on its behalf by:




J G Rankin - Director C V Timbrell - Director




R Pammenter - Director S J Carter - Director


Intoheat (Holdings) Limited (Registered number: 08303573)

Consolidated Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£    £    £    £    £   
Balance at 1 April 2022 1,000 4,242,325 4,243,325 - 4,243,325

Changes in equity
Dividends - (60,000 ) (60,000 ) - (60,000 )
Total comprehensive income - 1,327,571 1,327,571 - 1,327,571
Balance at 31 March 2023 1,000 5,509,896 5,510,896 - 5,510,896

Changes in equity
Dividends - (60,000 ) (60,000 ) - (60,000 )
Total comprehensive income - 1,224,623 1,224,623 - 1,224,623
Balance at 31 March 2024 1,000 6,674,519 6,675,519 - 6,675,519

Intoheat (Holdings) Limited (Registered number: 08303573)

Company Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 1,000 1,829,997 1,830,997

Changes in equity
Dividends - (60,000 ) (60,000 )
Total comprehensive income - 1,059,954 1,059,954
Balance at 31 March 2023 1,000 2,829,951 2,830,951

Changes in equity
Dividends - (60,000 ) (60,000 )
Total comprehensive income - 830,085 830,085
Balance at 31 March 2024 1,000 3,600,036 3,601,036

Intoheat (Holdings) Limited (Registered number: 08303573)

Consolidated Cash Flow Statement
for the Year Ended 31 March 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,862,087 (120,807 )
Interest paid (1,938 ) -
Interest element of hire purchase payments
paid

(8,764

)

(3,320

)
Tax paid (218,457 ) (186,206 )
Net cash from operating activities 1,632,928 (310,333 )

Cash flows from investing activities
Purchase of tangible fixed assets (456,342 ) (158,548 )
Sale of tangible fixed assets 3,083 3,870
Sale of fixed asset investments (12,775 ) -
Interest received 77,248 17,132
Net cash from investing activities (388,786 ) (137,546 )

Cash flows from financing activities
Capital repayments in year 295,785 (11,127 )
Amount introduced by directors 5,475 -
Amount withdrawn by directors (228,050 ) (85,424 )
Equity dividends paid (60,000 ) (60,000 )
Net cash from financing activities 13,210 (156,551 )

Increase/(decrease) in cash and cash equivalents 1,257,352 (604,430 )
Cash and cash equivalents at beginning of
year

2

3,827,507

4,431,937

Cash and cash equivalents at end of year 2 5,084,859 3,827,507

Intoheat (Holdings) Limited (Registered number: 08303573)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 March 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
£    £   
Profit before taxation 1,744,872 1,537,627
Depreciation charges 147,417 77,966
Loss on disposal of fixed assets 9,692 599
Finance costs 10,702 3,320
Finance income (77,248 ) (17,132 )
1,835,435 1,602,380
Decrease/(increase) in stocks 1,767,515 (2,402,267 )
Decrease/(increase) in trade and other debtors 756,372 (2,796,955 )
(Decrease)/increase in trade and other creditors (2,497,235 ) 3,476,035
Cash generated from operations 1,862,087 (120,807 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 5,084,859 3,827,507
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 3,827,507 4,431,937


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 3,827,507 1,257,352 5,084,859
3,827,507 1,257,352 5,084,859
Debt
Finance leases (46,242 ) (295,787 ) (342,029 )
(46,242 ) (295,787 ) (342,029 )
Total 3,781,265 961,565 4,742,830

Intoheat (Holdings) Limited (Registered number: 08303573)

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

1. STATUTORY INFORMATION

Intoheat (Holdings) 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 General 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" 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on straight line basis
Fixtures and fittings - 25% on reducing balance basis
Motor vehicles - 25% on reducing balance basis
Computer equipment - 33.33% on straight line basis

Financial instruments
The group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured , initially and subsequently , at the undiscounted amount of the cash or other consideration to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment.If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Intoheat (Holdings) Limited (Registered number: 08303573)

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

2. 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.

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

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 5,388,636 4,164,198
Social security costs 577,630 460,163
Other pension costs 228,874 164,577
6,195,140 4,788,938

The average number of employees during the year was as follows:
2024 2023

Management & Administration 18 16
Operational 94 83
112 99

2024 2023
£    £   
Directors' remuneration 666,441 477,775
Directors' pension contributions to money purchase schemes 100,770 73,750

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 6 5

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 135,275 112,200
Pension contributions to money purchase schemes 18,750 10,000

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 85,282 58,453
Depreciation - assets on hire purchase contracts 62,133 19,514
Loss on disposal of fixed assets 9,692 599
Auditors' remuneration 15,500 14,000
Auditors' remuneration for non audit work 4,902 5,052

Intoheat (Holdings) Limited (Registered number: 08303573)

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

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 1,938 -
Hire purchase 8,764 3,320
10,702 3,320

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 437,523 292,707
Adj in respect of prior year - (113,883 )
Total current tax 437,523 178,824

Deferred tax 78,362 31,232
Tax on profit 515,885 210,056

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,744,872 1,537,627
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

436,218

292,149

Effects of:
Expenses not deductible for tax purposes 59,503 25,723
Capital allowances in excess of depreciation (58,198 ) (25,165 )
Adjustments to tax charge in respect of previous periods - (113,883 )
Deferred taxation 78,362 31,232
Total tax charge 515,885 210,056

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 60,000 60,000

Intoheat (Holdings) Limited (Registered number: 08303573)

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

9. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 180,582 22,080 242,539
Additions 12,888 2,341 49,758
Disposals - (16,515 ) -
At 31 March 2024 193,470 7,906 292,297
DEPRECIATION
At 1 April 2023 115,428 17,636 130,445
Charge for year 16,502 1,621 33,185
Eliminated on disposal - (16,515 ) -
At 31 March 2024 131,930 2,742 163,630
NET BOOK VALUE
At 31 March 2024 61,540 5,164 128,667
At 31 March 2023 65,154 4,444 112,094

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 242,858 130,857 818,916
Additions 375,383 15,972 456,342
Disposals (21,819 ) (71,780 ) (110,114 )
At 31 March 2024 596,422 75,049 1,165,144
DEPRECIATION
At 1 April 2023 124,195 95,186 482,890
Charge for year 77,966 18,141 147,415
Eliminated on disposal (21,819 ) (71,780 ) (110,114 )
At 31 March 2024 180,342 41,547 520,191
NET BOOK VALUE
At 31 March 2024 416,080 33,502 644,953
At 31 March 2023 118,663 35,671 336,026

Intoheat (Holdings) Limited (Registered number: 08303573)

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

9. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 136,847
Additions 375,383
Disposals (9,697 )
Transfer to ownership (20,250 )
At 31 March 2024 482,283
DEPRECIATION
At 1 April 2023 63,764
Charge for year 62,133
Eliminated on disposal (9,697 )
Transfer to ownership (14,644 )
At 31 March 2024 101,556
NET BOOK VALUE
At 31 March 2024 380,727
At 31 March 2023 73,083

10. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 April 2023 257,050
Additions 13,775
At 31 March 2024 270,825
NET BOOK VALUE
At 31 March 2024 270,825
At 31 March 2023 257,050

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Intoheat Limited
Registered office: Unit 6/7 Short Way,Thornbury Industrial Estate,Thornbury, Bristol, BS35 3UT
Nature of business: Building service engineers
%
Class of shares: holding
Ordinary 100.00

Intoheat (Holdings) Limited (Registered number: 08303573)

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

10. FIXED ASSET INVESTMENTS - continued

Intoheat Facilities Management Limited
Registered office: Unit 6/7 Short Way,Thornbury Industrial Estate,Thornbury, Bristol, BS35 3UT
Nature of business: Facilities Management
%
Class of shares: holding
Ordinary 90.00


11. STOCKS

Group
2024 2023
£    £   
Work-in-progress 1,161,474 2,928,989

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 5,927,324 6,613,780 - -
Amounts owed by group undertakings - - 460,000 410,000
Other debtors 74,250 128,261 - 12,775
Directors' loan accounts 220,000 - - -
Prepayments and accrued income 107,568 123,473 - -
6,329,142 6,865,514 460,000 422,775

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Hire purchase contracts (see note 15) 71,978 26,014 - -
Trade creditors 4,153,778 7,158,531 - -
Tax 381,773 162,707 6,695 -
Social security and other taxes 1,180,238 906,372 - -
Directors' loan accounts 24,000 26,575 24,000 26,575
Accruals and deferred income 328,439 94,787 - -
6,140,206 8,374,986 30,695 26,575

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
2024 2023
£    £   
Hire purchase contracts (see note 15) 270,051 20,228

Intoheat (Holdings) Limited (Registered number: 08303573)

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

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 71,978 26,014
Between one and five years 270,051 20,228
342,029 46,242

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 292,693 206,884
Between one and five years 661,401 564,480
In more than five years 712,500 712,500
1,666,594 1,483,864

16. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 130,288 51,926

Group
Deferred
tax
£   
Balance at 1 April 2023 51,926
Provided during year 78,362
Balance at 31 March 2024 130,288

17. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Share capital 1 £1 1,000 1,000

Intoheat (Holdings) Limited (Registered number: 08303573)

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

18. RESERVES

Group
Retained
earnings
£   

At 1 April 2023 5,509,896
Profit for the year 1,224,623
Dividends (60,000 )
At 31 March 2024 6,674,519

Company
Retained
earnings
£   

At 1 April 2023 2,829,951
Profit for the year 830,085
Dividends (60,000 )
At 31 March 2024 3,600,036


19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
J G Rankin
Balance outstanding at start of year - -
Amounts advanced 220,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 220,000 -

The above loan was repaid in full in the forthcoming accounting period.

During the year the group paid rent in the sum of £70,500 (2023 £70,500) for premises owned by the personal pension schemes of the directors of the company.

20. ULTIMATE CONTROLLING PARTY

The controlling party is J G Rankin.

The ultimate controlling party is J G Rankin.