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H2 Heat Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Teale Accountants Ltd
1 Industrial Street
Bingley
West Yorkshire
BD16 4JG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13314806
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,239 18,984
14,239 18,984
CURRENT ASSETS
Cash at bank and in hand 6,718 1,703
6,718 1,703
Creditors: Amounts Falling Due Within One Year 5 (5,015 ) (8,698 )
NET CURRENT ASSETS (LIABILITIES) 1,703 (6,995 )
TOTAL ASSETS LESS CURRENT LIABILITIES 15,942 11,989
NET ASSETS 15,942 11,989
CAPITAL AND RESERVES
Called up share capital 6 1 1
Profit and Loss Account 15,941 11,988
SHAREHOLDERS' FUNDS 15,942 11,989
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Simon Cowburn
Director
27/03/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
H2 Heat Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13314806 . The registered office is 12 Morton Lane, East Morton, Keighley, West Yorkshire, BD20 5RS.
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. 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:
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 2,000 25,000 27,000
As at 31 March 2024 2,000 25,000 27,000
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 April 2023 594 7,422 8,016
Provided during the period 351 4,394 4,745
As at 31 March 2024 945 11,816 12,761
Net Book Value
As at 31 March 2024 1,055 13,184 14,239
As at 1 April 2023 1,406 17,578 18,984
5. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Accruals and deferred income 1,460 725
Director's loan account 3,555 7,973
5,015 8,698
6. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4