Registered number
04925496
UNICORN HEATING LTD
Financial Statements
For the Year Ended
31 October 2024
UNICORN HEATING LTD
Company Information
Director
W.Duggan
Secretary
J.Duggan
Accountants
RJT Accountancy Limited
4 Woodridge Avenue
Allesley Green
Coventry
CV5 7PN
Bankers
HSBC Bank plc
Registered office
50 Eastern Green Road
Coventry
CV5 7LH
Registered number
04925496
UNICORN HEATING LTD
Registered number: 04925496
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 11,616 12,186
Current assets
Stocks 300 300
Debtors 4 408 2,145
Cash at bank and in hand 12,812 8,451
13,520 10,896
Creditors: amounts falling due within one year 5 (26,072) (27,896)
Net current liabilities (12,552) (17,000)
Total assets less current liabilities (936) (4,814)
Creditors: amounts falling due after more than one year 6 (2,910) (7,238)
Net liabilities (3,846) (12,052)
Capital and reserves
Called up share capital 1 1
Profit and loss account (3,847) (12,053)
Shareholders' funds (3,846) (12,052)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The directors report and profit and loss account have not been delivered to the Registrar of Companies.
W.Duggan
Director
Approved by the board on 16 January 2025
UNICORN HEATING LTD
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102- Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Motor Vehicles 25% on reducing balance
Office Equipment and Computers Between 20% and 33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 6,545 20,211 26,756
Additions 714 1,299 2,013
Disposals - (4,375) (4,375)
At 31 October 2024 7,259 17,135 24,394
Depreciation
At 1 November 2023 5,415 9,155 14,570
Charge for the year 185 2,078 2,263
On disposals - (4,055) (4,055)
At 31 October 2024 5,600 7,178 12,778
Net book value
At 31 October 2024 1,659 9,957 11,616
At 31 October 2023 1,130 11,056 12,186
4 Debtors 2024 2023
£ £
Other debtors 408 2,145
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,788 4,706
Trade creditors 1,297 2,711
Taxation and social security costs 5,360 7,184
Other creditors 14,627 13,295
26,072 27,896
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,410 7,198
Obligations under finance lease and hire purchase contracts 500 40
2,910 7,238
7 Other information
UNICORN HEATING LTD is a private company limited by shares and incorporated in England. Its registered office is:
50 Eastern Green Road
Coventry
CV5 7LH
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