REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 |
FOR |
MEDWAY HEATING (BOLTON) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 |
FOR |
MEDWAY HEATING (BOLTON) LIMITED |
MEDWAY HEATING (BOLTON) LIMITED (REGISTERED NUMBER: 01187484) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MEDWAY HEATING (BOLTON) LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 October 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
& Business Advisors |
Vantage House |
3 East Terrace Business Park |
Euxton Lane, Euxton |
Chorley |
Lancashire |
PR7 6TB |
MEDWAY HEATING (BOLTON) LIMITED (REGISTERED NUMBER: 01187484) |
ABRIDGED BALANCE SHEET |
31 October 2024 |
31.10.24 | 31.10.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
MEDWAY HEATING (BOLTON) LIMITED (REGISTERED NUMBER: 01187484) |
ABRIDGED BALANCE SHEET - continued |
31 October 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
MEDWAY HEATING (BOLTON) LIMITED (REGISTERED NUMBER: 01187484) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2024 |
1. | STATUTORY INFORMATION |
Medway Heating (Bolton) Limited is a |
2. | STATEMENT OF COMPLIANCE |
These financial statements have been prepared in compliance with FRS102 Section 1A for small entities. There were no material departures from that standard. |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The principle accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and have also been consistently applied within the same accounts. |
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. |
Income recognition |
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Inventories |
Inventories have been valued at the lower of cost and estimated selling price, less costs to sell. In respect of work in progress and finished goods, cost included a relevant proportion of overheads according to the stage of manufacture/completion. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans. |
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at 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 income and retained earnings. |
MEDWAY HEATING (BOLTON) LIMITED (REGISTERED NUMBER: 01187484) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2024 |
3. | ACCOUNTING POLICIES - continued |
Deferred taxation |
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. |
Tax deferred or accelerated is accounted for in respect of all material timing differences. |
Hire purchase and leasing commitments |
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other intangible assets. The related obligations, net of future finance charges, are included in creditors. |
Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease. |
Pensions |
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 November 2023 |
and 31 October 2024 |
DEPRECIATION |
At 1 November 2023 |
Charge for year |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
MEDWAY HEATING (BOLTON) LIMITED (REGISTERED NUMBER: 01187484) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
Totals |
£ |
COST |
At 1 November 2023 |
and 31 October 2024 | 82,763 |
DEPRECIATION |
At 1 November 2023 | 75,202 |
Charge for year | 1,891 |
At 31 October 2024 | 77,093 |
NET BOOK VALUE |
At 31 October 2024 | 5,670 |
At 31 October 2023 | 7,561 |