Company Registration No. 03283447 (England and Wales)
Heat Exchange Limited
Unaudited accounts
for the year ended 30 June 2024
Heat Exchange Limited
Unaudited accounts
Contents
Heat Exchange Limited
Company Information
for the year ended 30 June 2024
Directors
S Briggs
G Briggs
Company Number
03283447 (England and Wales)
Registered Office
27 GILLERCOMB CLOSE
WEST BRIDGFORD
NOTTINGHAM
NG2 6SE
Heat Exchange Limited
Statement of financial position
as at 30 June 2024
Tangible assets
23,220
29,025
Cash at bank and in hand
240,333
257,639
Creditors: amounts falling due within one year
(167,328)
(193,538)
Net current assets
166,905
153,450
Total assets less current liabilities
190,125
182,475
Creditors: amounts falling due after more than one year
(10,000)
(20,000)
Provisions for liabilities
Deferred tax
(5,805)
(7,256)
Net assets
174,320
155,219
Called up share capital
2
2
Profit and loss account
174,318
155,217
Shareholders' funds
174,320
155,219
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by
S Briggs
Director
Company Registration No. 03283447
Heat Exchange Limited
Notes to the Accounts
for the year ended 30 June 2024
Heat Exchange Limited is a private company, limited by shares, registered in England and Wales, registration number 03283447. The registered office is 27 GILLERCOMB CLOSE, WEST BRIDGFORD, NOTTINGHAM, NG2 6SE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Heat Exchange Limited
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 July 2023
6,728
74,342
81,070
At 30 June 2024
6,728
74,342
81,070
At 1 July 2023
5,279
46,766
52,045
Charge for the year
290
5,515
5,805
At 30 June 2024
5,569
52,281
57,850
At 30 June 2024
1,159
22,061
23,220
At 30 June 2023
1,449
27,576
29,025
Amounts falling due within one year
Trade debtors
88,871
77,013
Accrued income and prepayments
1,529
1,572
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,000
10,000
Trade creditors
22,063
28,151
Taxes and social security
26,564
31,768
Loans from directors
84,361
103,725
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 4 (2023: 4).