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Registered Number: 04196215


 

 

 


Unaudited Financial Statements

for the year ended 31 March 2024

for

HEATSTAR PLUMBING AND HEATING LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 461,015    89,536 
461,015    89,536 
Current assets      
Stocks 4 50,000    73,806 
Debtors 5 899,674    481,611 
Cash at bank and in hand 280,334    327,210 
1,230,008    882,627 
Creditors: amount falling due within one year 6 (571,219)   (519,868)
Net current assets 658,789    362,759 
 
Total assets less current liabilities 1,119,804    452,295 
Creditors: amount falling due after more than one year 7 (292,955)  
Provisions for liabilities 8 (89,393)   (2,862)
Net assets 737,456    449,433 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 737,454    449,431 
Shareholders' funds 737,456    449,433 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 27 December 2024 and were signed by:


-------------------------------
JENNER John
Director
1
General Information
HEATSTAR PLUMBING AND HEATING LIMITED is a private company, limited by shares, registered in , registration number 04196215, registration address 13 THE CLOSE, NORWICH ENGLAND, NR1 4DS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Reducing Balance
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 15 (2023 : 12).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 April 2023 78,088    29,525      26,187    16,997    150,797 
Additions   1,364    399,244    3,782      404,390 
Disposals          
At 31 March 2024 78,088    30,889    399,244    29,969    16,997    555,187 
Depreciation
At 01 April 2023   25,803      20,373    10,509    56,685 
Charge for year   1,202    32,745    2,067    1,473    37,487 
On disposals          
At 31 March 2024   27,005    32,745    22,440    11,982    94,172 
Net book values
Closing balance as at 31 March 2024 78,088    3,884    366,499    7,529    5,015    461,015 
Opening balance as at 01 April 2023 78,088    3,722      5,814    1,912    89,536 


4.

Stocks

2024
£
  2023
£
Finished Goods   23,999 
Work in Progress   49,807 
Stocks 50,000   
50,000    73,806 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 475,593    437,003 
Prepayments & Accrued Income   8,156 
Other Debtors 256,819    3,396 
PAYE & Social Security 74,918   
Directors' Current Accounts 27,965   
VAT 47,583    33,056 
882,878    481,611 

5.

Debtors: amounts falling due after one year

2024
£
  2023
£
Prepayments 16,796   
16,796   

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 399,995    362,282 
Bank Loans & Overdrafts 9,600    31,667 
Corporation Tax 38,828    46,035 
PAYE & Social Security   22,655 
CIS Control Account 480   
Accrued Expenses   9,382 
Other Creditors 573    1,263 
Obligations under HP/Financial Leases 76,320   
Wages & Salaries Control Account 45,423    46,584 
571,219    519,868 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 12,061   
Obligations Under HP/Financial Leases 280,894   
292,955   

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 2,862    2,862 
Charged to Profit & Loss 84,181   
Pension Provisions 2,350   
89,393    2,862 

2