Company registration number 09127140 (England and Wales)
H4 INCORPORATED LIMITED
TRADING AS KEDLESTON HEATING
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
H4 INCORPORATED LIMITED
TRADING AS KEDLESTON HEATING
COMPANY INFORMATION
Directors
C Haslam
K Haslam
R A Haslam
Company number
09127140
Registered office
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
Accountants
Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
H4 INCORPORATED LIMITED
TRADING AS KEDLESTON HEATING
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
H4 INCORPORATED LIMITED
TRADING AS KEDLESTON HEATING
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF H4 INCORPORATED LIMITED FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of H4 Incorporated Limited for the year ended 31 August 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of H4 Incorporated Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of H4 Incorporated Limited and state those matters that we have agreed to state to the board of directors of H4 Incorporated Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than H4 Incorporated Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that H4 Incorporated Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of H4 Incorporated Limited. You consider that H4 Incorporated Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of H4 Incorporated Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ashgates Corporate Services Limited
Chartered Certified Accountants
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
20 March 2025
H4 INCORPORATED LIMITED
TRADING AS KEDLESTON HEATING
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
12,498
Tangible assets
4
55,664
57,514
55,664
70,012
Current assets
Stocks
44,000
52,675
Debtors
5
109,674
148,555
Cash at bank and in hand
32,291
21,550
185,965
222,780
Creditors: amounts falling due within one year
6
(131,265)
(121,772)
Net current assets
54,700
101,008
Total assets less current liabilities
110,364
171,020
Creditors: amounts falling due after more than one year
7
(28,954)
(28,342)
Provisions for liabilities
(13,916)
(14,379)
Net assets
67,494
128,299
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
67,394
128,199
Total equity
67,494
128,299
H4 INCORPORATED LIMITED
TRADING AS KEDLESTON HEATING
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 3 -
For the financial year ended 31 August 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 20 March 2025 and are signed on its behalf by:
C Haslam
Director
Company registration number 09127140 (England and Wales)
H4 INCORPORATED LIMITED
TRADING AS KEDLESTON HEATING
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
1
Accounting policies
Company information
H4 Incorporated Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Prospect Place, Millennium Way, Pride Park, Derby, DE24 8HG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
H4 INCORPORATED LIMITED
TRADING AS KEDLESTON HEATING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% reducing balance
Fixtures and fittings
20% straight Line
Computers
20% straight line/15% reducing balance
Motor vehicles
20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
H4 INCORPORATED LIMITED
TRADING AS KEDLESTON HEATING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 6 -
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
10
3
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
124,998
Amortisation and impairment
At 1 September 2023
112,500
Amortisation charged for the year
12,498
At 31 August 2024
124,998
Carrying amount
At 31 August 2024
At 31 August 2023
12,498
H4 INCORPORATED LIMITED
TRADING AS KEDLESTON HEATING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 September 2023
20,912
71,941
9,097
55,658
157,608
Additions
2,703
11,444
1,579
15,726
Disposals
(199)
(5,798)
(120)
(6,117)
At 31 August 2024
23,416
77,587
10,556
55,658
167,217
Depreciation and impairment
At 1 September 2023
11,677
41,500
4,894
42,023
100,094
Depreciation charged in the year
1,734
8,483
802
3,408
14,427
Eliminated in respect of disposals
(153)
(2,728)
(87)
(2,968)
At 31 August 2024
13,258
47,255
5,609
45,431
111,553
Carrying amount
At 31 August 2024
10,158
30,332
4,947
10,227
55,664
At 31 August 2023
9,235
30,441
4,203
13,635
57,514
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
14,142
45,600
Amounts owed by group undertakings and undertakings in which the company has a participating interest
91,776
97,426
Other debtors
3,756
5,529
109,674
148,555
6
Creditors: amounts falling due within one year
2024
2023
£
£
Loans and borrowings
8
7,673
20,830
Trade creditors
110,441
75,901
Taxation and social security
6,275
18,079
Other creditors
6,876
6,962
131,265
121,772
H4 INCORPORATED LIMITED
TRADING AS KEDLESTON HEATING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 8 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Loans and borrowings
8
-
8,133
Other creditors
28,954
20,209
8
28,954
28,342
The finance lease liabilities are secured against the assets to which they relate. The carrying amount at the year end is £1,244 (2023 - £7,216).
8
Loans and borrowings
2024
2023
£
£
Bank loans
6,429
21,747
Hire purchase and finance lease liabilities
1,244
7,216
7,673
28,963
Payable within one year
7,673
20,830
Payable after one year
-
8,133
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
25
25
25
25
Ordinary B shares of £1 each
25
25
25
25
Ordinary C shares of £1 each
25
25
25
25
Ordinary D shares of £1 each
25
25
25
25
100
100
100
100
10
Non adjusting events after the financial period
After the balance sheet date, dividends of £17,682 have been voted and paid.
11
Financial commitments, guarantees and contingent liabilities
The total amount of financial commitments not included in the balance sheet is £56,507 (2023 - £71,507).
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