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Registered number: 12043858
Orange Heating Supplies Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
GLX Advisory Limited
Chartered Accountants
69-75 Thorpe Road
Norwich
NR1 1UA
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—8
Page 1
Company Information
Directors Mr R Brown
Ms L Howlett
Company Number 12043858
Registered Office 33 Newton Street
Newton St. Faith
Norwich
Norfolk
NR10 3AD
Accountants GLX Advisory Limited
Chartered Accountants
69-75 Thorpe Road
Norwich
NR1 1UA
Page 1
Page 2
Balance Sheet
Registered number: 12043858
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 9,000 -
Tangible Assets 5 31,822 42,429
40,822 42,429
CURRENT ASSETS
Stocks 6 224,687 226,696
Debtors 7 148,221 221,489
Cash at bank and in hand 22,983 33,798
395,891 481,983
Creditors: Amounts Falling Due Within One Year 8 (217,693 ) (265,488 )
NET CURRENT ASSETS (LIABILITIES) 178,198 216,495
TOTAL ASSETS LESS CURRENT LIABILITIES 219,020 258,924
Creditors: Amounts Falling Due After More Than One Year 9 (39,941 ) (54,636 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,956 ) (6,660 )
NET ASSETS 171,123 197,628
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 171,122 197,627
SHAREHOLDERS' FUNDS 171,123 197,628
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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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R Brown
Director
Ms L Howlett
Director
16/12/2024
The notes on pages 4 to 8 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Orange Heating Supplies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12043858 . The registered office is 33 Newton Street, Newton St. Faith , Norwich, Norfolk, NR10 3AD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets relates to a website. This is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Intangible Assets
Other
£
Cost
As at 1 July 2023 -
Additions 10,000
As at 30 June 2024 10,000
Amortisation
As at 1 July 2023 -
Provided during the period 1,000
As at 30 June 2024 1,000
Net Book Value
As at 30 June 2024 9,000
As at 1 July 2023 -
5. Tangible Assets
Motor Vehicles
£
Cost
As at 1 July 2023 44,274
As at 30 June 2024 44,274
Depreciation
As at 1 July 2023 1,845
Provided during the period 10,607
As at 30 June 2024 12,452
Net Book Value
As at 30 June 2024 31,822
As at 1 July 2023 42,429
6. Stocks
2024 2023
£ £
Stock 224,687 226,696
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 70,006 68,841
Amounts owed by participating interests 70,766 145,347
Other debtors 7,449 7,301
148,221 221,489
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,696 4,324
Trade creditors 116,718 134,412
Bank loans and overdrafts 10,000 10,000
Amounts owed to participating interests 33,209 75,709
Other creditors 29,737 15,075
Taxation and social security 23,333 25,968
217,693 265,488
Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate. 
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 29,910 34,605
Bank loans 10,031 20,031
39,941 54,636
Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate. 
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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11. Related Party Transactions
Included within debtors are amounts owed by a party related by virtue of common control of £70,766 (2023: £145,347). This loan is unsecured, interest free and repayable on demand. 
Included within creditors are amounts owed to a party related by virtue of common control of £33,209 (2023: £75,709) This loan is unsecured, interest free and repayable on demand. 
Also included in other creditors are amounts owed to the directors of £15,000 (2023: £12,000). These loans are unsecured, interest free and repayable on demand. 
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