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Registration number: 10199828

Plus Heat Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

[FRS 102 SECTION1A]
[FILLETED FOR FILING PURPOSES]

 

Plus Heat Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 9

 

Plus Heat Ltd

Company Information

Directors

L Clancy

M J De Giorgio

Registered office

27 Old Gloucester Street
London
WC1N 3AX

Accountants

Tremaines Ltd
East Wing, South Hill
Paddockhurst Road
Turners Hill
West Sussex
RH10 4SF

 

Plus Heat Ltd

(Registration number: 10199828)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

27,000

50,718

Tangible assets

5

5,728

7,834

 

32,728

58,552

Current assets

 

Debtors

6

201,969

254,550

Cash at bank and in hand

 

313,558

235,718

 

515,527

490,268

Creditors: Amounts falling due within one year

7

(340,075)

(606,111)

Net current assets/(liabilities)

 

175,452

(115,843)

Total assets less current liabilities

 

208,180

(57,291)

Creditors: Amounts falling due after more than one year

7

(139,569)

(10,787)

Net assets/(liabilities)

 

68,611

(68,078)

Capital and reserves

 

Called up share capital

177

177

Share premium reserve

894,921

894,921

Retained earnings

(826,487)

(963,176)

Shareholders' funds/(deficit)

 

68,611

(68,078)

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.

Directors' 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 directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 August 2025 and signed on its behalf by:
 

 

Plus Heat Ltd

(Registration number: 10199828)
Balance Sheet as at 31 March 2025

.........................................
L Clancy
Director

 

Plus Heat Ltd

Statement of Changes in Equity for the Year Ended 31 March 2025

Share capital
£

Share premium
£

Retained earnings
£

Total
£

At 1 April 2024

177

894,921

(963,176)

(68,078)

Profit for the year

-

-

136,689

136,689

At 31 March 2025

177

894,921

(826,487)

68,611

Share capital
£

Share premium
£

Retained earnings
£

Total
£

At 1 April 2024

177

894,921

(963,176)

(68,078)

Profit for the year

-

-

136,689

136,689

At 31 March 2025

177

894,921

(826,487)

68,611

Share capital
£

Share premium
£

Retained earnings
£

Total
£

At 1 April 2023

154

419,946

(665,538)

(245,438)

Prior period adjustment

-

-

(22,801)

(22,801)

At 1 April 2023 (As restated)

154

419,946

(688,339)

(268,239)

Loss for the year

-

-

(274,837)

(274,837)

New share capital subscribed

23

474,975

-

474,998

At 31 March 2024

177

894,921

(963,176)

(68,078)


Prior Period Adjustment

The prior period adjustment of £22,801 relates to bad debt provision which was mis-stated in period ended 31 March 2023.

 

Plus Heat Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
27 Old Gloucester Street
London
WC1N 3AX

These financial statements were authorised for issue by the Board on 1 August 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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sales of good and provision of services, net of discounts and sales taxes, in the ordinary course of the Company’s activities. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.

Foreign currency transactions and balances

Transactions denominated in foreign currencies are initially recorded at the rate of exchange as at the date of the transaction. Year end balances are retranslated at the rate of exchange as at the year end with exchange differences included in arriving at profit before tax.

Tax

Deferred tax is recognised in respect of all timing differences (including fair value adjustments) that have originated but not reversed by the balance sheet date except that a deferred tax asset is only recognised to the extent that it is regarded recoverable. Deferred tax is measured using the tax rate that is expected to apply in the periods in which the timing differences are expected to reverse.

 

Plus Heat Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and Equipment

33% Straight Line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Software Development

20% Straight Line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

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 employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The Company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
 

 

Plus Heat Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 8).

4

Intangible assets

Software development costs

Total
£

Cost or valuation

At 1 April 2024

118,589

118,589

At 31 March 2025

118,589

118,589

Amortisation

At 1 April 2024

67,871

67,871

Amortisation charge

23,718

23,718

At 31 March 2025

91,589

91,589

Carrying amount

At 31 March 2025

27,000

27,000

At 31 March 2024

50,718

50,718

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

17,839

17,839

At 31 March 2025

17,839

17,839

Depreciation

At 1 April 2024

10,005

10,005

Charge for the year

2,106

2,106

At 31 March 2025

12,111

12,111

Carrying amount

At 31 March 2025

5,728

5,728

At 31 March 2024

7,834

7,834

 

Plus Heat Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

2025
£

2024
£

Trade debtors

82,025

62,108

Prepayments

-

9,480

Other debtors

119,944

182,962

201,969

254,550

Current

2025
£

2024
£

Trade debtors

82,025

62,108

Prepayments

-

9,480

Other debtors

119,944

182,962

 

201,969

254,550

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Trade creditors

 

186,556

197,919

Taxation and social security cost

 

72,278

148,088

Bank loans and overdrafts

8

17,542

9,800

Other creditors

 

63,699

250,304

 

340,075

606,111

Due after one year

 

Loans and borrowings

8

139,569

10,787

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

139,569

10,787

 

Plus Heat Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

139,569

10,787

Current loans and borrowings

2025
£

2024
£

Bank borrowings

17,542

9,800

Other borrowings

4,642

157,138

22,184

166,938