Year Ended
Registration number:
Rung Heating Supplies Limited
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Rung Heating Supplies Limited
Balance Sheet
31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Rung Heating Supplies Limited
Balance Sheet
31 March 2025
For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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......................................... |
Company Registration Number: 00927976
Rung Heating Supplies Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 Section 1A, and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that, as disclosed in the accounting policies, certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities, and is shown net of value added tax and discounts.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Rung Heating Supplies Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2025
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Fixtures and fittings |
15% straight line |
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Motor vehicles |
20% reducing balance |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress 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. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as an employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Rung Heating Supplies Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2025
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Hire purchase liabilities; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Rung Heating Supplies Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2025
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Tangible assets |
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Fixtures and fittings |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 April 2024 |
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Additions |
- |
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Disposals |
- |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
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Charge for the year |
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Eliminated on disposal |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
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Debtors |
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Note |
2025 |
2024 |
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Trade debtors |
1,577,373 |
1,786,681 |
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Amounts owed by group undertakings |
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- |
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Prepayments |
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5,102 |
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Other debtors |
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156,638 |
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1,948,421 |
Rung Heating Supplies Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2025
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Hire purchase liabilities |
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26,876 |
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Trade creditors |
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1,474,680 |
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Amounts due to group undertakings |
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50,673 |
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Corporation tax |
112,432 |
77,501 |
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Social security and other taxes |
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48,388 |
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Other creditors |
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- |
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Accrued expenses |
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1,576,527 |
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2,657,041 |
3,254,645 |
Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Hire purchase liabilities |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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30,000 |
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30,000 |
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10 |
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10 |
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10 |
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10 |
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10 |
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10 |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Rung Heating Supplies Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2025
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Related party transactions |
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Transactions with the director |
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2025 |
At 1 April 2024 |
Advances to director |
Repayments by director |
At 31 March 2025 |
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M R Critchlow |
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Loan repayable on demand, with interest charged at the oficial rate |
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( |
- |
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2024 |
At 1 April 2023 |
Advances to director |
Repayments by director |
At 31 March 2024 |
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M R Critchlow |
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Loan repayable on demand, with interest charged at the oficial rate |
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( |
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Summary of transactions with parent
During the year the company paid dividends totalling £697,500 (2024 - £120,000) to its parent company, and at 31 March 2025 an amount of £566,308 was owed by that company.