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Rung Heating Supplies Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2025

Registration number: 00927976

 

Rung Heating Supplies Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Rung Heating Supplies Limited

Balance Sheet

31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

156,373

167,738

Current assets

 

Stocks

340,267

1,020,146

Debtors

5

2,224,610

1,948,421

Cash at bank and in hand

 

593,329

1,187,773

 

3,158,206

4,156,340

Creditors: Amounts falling due within one year

6

(2,657,041)

(3,254,645)

Net current assets

 

501,165

901,695

Total assets less current liabilities

 

657,538

1,069,433

Creditors: Amounts falling due after more than one year

6

(78,749)

(84,202)

Provisions for liabilities

(5,078)

(12,809)

Net assets

 

573,711

972,422

Capital and reserves

 

Called up share capital

7

30,030

30,030

Profit and loss account

543,681

942,392

Shareholders' funds

 

573,711

972,422

 

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 director on 19 June 2025
 

.........................................
M R Critchlow
Company secretary and director

Company Registration Number: 00927976

 

Rung Heating Supplies Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 4A, Marsh Lane
Henstridge Trading Estate
Henstridge
Templecombe
Somerset
BA8 0TG

These financial statements were authorised for issue by the director on 19 June 2025.

2

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

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

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:

Asset class

Depreciation method and rate

Fixtures and fittings

15% straight line

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
The company holds the following financial instruments:

• 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
The company has chosen to apply the recognition and measurement principles in FRS102.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 21 (2024 - 21).

 

Rung Heating Supplies Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

4

Tangible assets

Fixtures and fittings
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

10,764

293,572

304,336

Additions

-

41,780

41,780

Disposals

-

(26,297)

(26,297)

At 31 March 2025

10,764

309,055

319,819

Depreciation

At 1 April 2024

6,823

129,775

136,598

Charge for the year

1,259

38,421

39,680

Eliminated on disposal

-

(12,832)

(12,832)

At 31 March 2025

8,082

155,364

163,446

Carrying amount

At 31 March 2025

2,682

153,691

156,373

At 31 March 2024

3,941

163,797

167,738

5

Debtors

Note

2025
£

2024
£

Trade debtors

 

1,577,373

1,786,681

Amounts owed by group undertakings

9

566,308

-

Prepayments

 

11,113

5,102

Other debtors

 

69,816

156,638

 

2,224,610

1,948,421

 

Rung Heating Supplies Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
 £

Due within one year

 

Hire purchase liabilities

25,440

26,876

Trade creditors

 

1,117,935

1,474,680

Amounts due to group undertakings

9

-

50,673

Corporation tax

112,432

77,501

Social security and other taxes

 

47,688

48,388

Other creditors

 

20,597

-

Accrued expenses

 

1,332,949

1,576,527

 

2,657,041

3,254,645

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Hire purchase liabilities

78,749

84,202

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

30,000

30,000

30,000

30,000

"A" Ordinary shares of £1 each

10

10

10

10

"B" Ordinary shares of £1 each

10

10

10

10

"C" Ordinary shares of £1 each

10

10

10

10

30,030

30,030

30,030

30,030

8

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 £143,394 (2024 - £34,874).

 

Rung Heating Supplies Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

9

Related party transactions

Transactions with the director

2025

At 1 April 2024
£

Advances to director
£

Repayments by director
£

At 31 March 2025
£

M R Critchlow

Loan repayable on demand, with interest charged at the oficial rate

41,286

332,500

(373,786)

-

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

M R Critchlow

Loan repayable on demand, with interest charged at the oficial rate

49,891

75,815

(84,420)

41,286

Summary of transactions with parent

Rung Heating Supplies (Holdings) Limited
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.