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REGISTERED NUMBER: 10872842 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

HEATSPEC (EAST MIDLANDS) LIMITED

HEATSPEC (EAST MIDLANDS) LIMITED (REGISTERED NUMBER: 10872842)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HEATSPEC (EAST MIDLANDS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: Mr G Wakeling





REGISTERED OFFICE: Granville Hall
Granville Road
Leicester
Leicestershire
LE1 7RU





REGISTERED NUMBER: 10872842 (England and Wales)

HEATSPEC (EAST MIDLANDS) LIMITED (REGISTERED NUMBER: 10872842)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,065 31,608

CURRENT ASSETS
Stocks 5 1,650 4,325
Debtors 6 5,771 19,005
7,421 23,330
CREDITORS
Amounts falling due within one year 7 29,459 67,184
NET CURRENT LIABILITIES (22,038 ) (43,854 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,027

(12,246

)

CREDITORS
Amounts falling due after more than one
year

8

(12,341

)

(7,071

)

PROVISIONS FOR LIABILITIES (11,766 ) (5,193 )
NET ASSETS/(LIABILITIES) 920 (24,510 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 820 (24,610 )
920 (24,510 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HEATSPEC (EAST MIDLANDS) LIMITED (REGISTERED NUMBER: 10872842)

BALANCE SHEET - continued
31 JULY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 March 2025 and were signed by:





Mr G Wakeling - Director


HEATSPEC (EAST MIDLANDS) LIMITED (REGISTERED NUMBER: 10872842)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Heatspec (East Midlands) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance 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.

The financial statements have been prepared on a going concern basis. As at 31 July 2024 the assets exceed the liabilities by £920 (2023: the liabilities exceeded the assets by £24,510). Continuation to trade depends upon the support of the company's director. Should the company be unable to continue to trade, adjustments would have to be made to reduce the assets to their recoverable amount, to provide for any further liabilities which may arise, and to reclassify fixed assets as current.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on the provision of the service; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


HEATSPEC (EAST MIDLANDS) LIMITED (REGISTERED NUMBER: 10872842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023 19,710 72,159 5,918 97,787
Additions - 28,990 - 28,990
At 31 July 2024 19,710 101,149 5,918 126,777
DEPRECIATION
At 1 August 2023 8,073 54,071 4,035 66,179
Charge for year 1,745 11,166 622 13,533
At 31 July 2024 9,818 65,237 4,657 79,712
NET BOOK VALUE
At 31 July 2024 9,892 35,912 1,261 47,065
At 31 July 2023 11,637 18,088 1,883 31,608

HEATSPEC (EAST MIDLANDS) LIMITED (REGISTERED NUMBER: 10872842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


5. STOCKS
2024 2023
£    £   
Stocks 1,650 4,325

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,306 19,005
Other debtors 2,465 -
5,771 19,005

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,630 15,313
Hire purchase contracts 3,051 775
Trade creditors 742 16,435
Taxation and social security 4,942 10,125
Other creditors 13,094 24,536
29,459 67,184

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 3,214 7,071
Hire purchase contracts 9,127 -
12,341 7,071

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 12,178 775

The debt in relation to the hire purchase is secured against the assets to which they relate.