General Information
PP Heat Limited is a private company, limited by shares, registered in England and Wales, registration number 08751314, registration address Delphi, The Street Delphi, The Street, Swallowfield, Reading, Berkshire, RG7 1RE.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in compliance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Motor Vehicles |
25% Reducing Balance
|
| Plant and Machinery |
25% Reducing Balance
|
| Fixtures and Fittings |
20% Reducing Balance
|
| Computer Equipment |
33% Straight Line
|
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 2 (2024 : 4).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 February 2024 |
3,340 |
|
81,585 |
|
1,046 |
|
7,330 |
|
93,301 |
| Additions |
- |
|
- |
|
400 |
|
- |
|
400 |
| Disposals |
- |
|
(15,790) |
|
- |
|
- |
|
(15,790) |
| At 31 January 2025 |
3,340 |
|
65,795 |
|
1,446 |
|
7,330 |
|
77,911 |
| Depreciation |
| At 01 February 2024 |
3,027 |
|
56,141 |
|
377 |
|
6,635 |
|
66,180 |
| Charge for year |
79 |
|
5,112 |
|
197 |
|
233 |
|
5,621 |
| On disposals |
- |
|
(10,794) |
|
- |
|
- |
|
(10,794) |
| At 31 January 2025 |
3,106 |
|
50,459 |
|
574 |
|
6,868 |
|
61,007 |
| Net book values |
| Closing balance as at 31 January 2025 |
234 |
|
15,336 |
|
872 |
|
462 |
|
16,904 |
| Opening balance as at 01 February 2024 |
313 |
|
25,444 |
|
669 |
|
695 |
|
27,121 |
The net book value of Motor Vehicles includes £ 9,809 (2024 £13,078) in respect of assets leased under finance leases or hire purchase contracts.
|
| 4. |
Stocks
|
2025
£ |
|
2024
£ |
| Stocks |
7,000 |
|
4,500 |
|
7,000 |
|
4,500 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
858 |
|
4,130 |
| Prepayments & Accrued Income |
521 |
|
2,633 |
| Amounts Recoverable on Contracts |
3,000 |
|
5,162 |
| Other Debtors |
547 |
|
7,200 |
| Taxation Recoverable |
15,779 |
|
15,779 |
| Directors Loan Accounts |
37,613 |
|
47,361 |
|
58,318 |
|
82,265 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
23,578 |
|
17,678 |
| Bank Loans - less than 1 year |
10,574 |
|
10,082 |
| Social Security and Other Tax |
50,789 |
|
65,031 |
| Accrued Expenses |
- |
|
2,225 |
| Other Creditors |
369 |
|
660 |
|
85,310 |
|
95,676 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans - 1-2 years |
9,187 |
|
10,574 |
| Bank Loans - 2-5 years |
- |
|
9,187 |
|
9,187 |
|
19,761 |
|
| 8. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred Tax |
4,226 |
|
5,153 |
|
4,226 |
|
5,153 |
|
|
Directors' Advances, Credits and Guarantees
The opening debit position of Director loan was £47,361. During the year advances amounting to £26,250 were made to the director. Repayments made by the director during the year amounted to £35,998. The closing debit position of Director loan was £37,613.
|
| 10. |
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
|
4
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