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Company No: 03169286 (England and Wales)

GLOW-WARM HEATING SERVICES LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

GLOW-WARM HEATING SERVICES LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

GLOW-WARM HEATING SERVICES LIMITED

BALANCE SHEET

As at 31 March 2025
GLOW-WARM HEATING SERVICES LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 4 54,628 33,377
54,628 33,377
Current assets
Stocks 5 20,957 12,325
Debtors 6 62,978 71,072
Cash at bank and in hand 254,686 278,527
338,621 361,924
Creditors: amounts falling due within one year 7 ( 79,687) ( 90,803)
Net current assets 258,934 271,121
Total assets less current liabilities 313,562 304,498
Provision for liabilities 8 ( 13,657) ( 8,344)
Net assets 299,905 296,154
Capital and reserves
Called-up share capital 9 1,000 1,000
Profit and loss account 298,905 295,154
Total shareholders' funds 299,905 296,154

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 financial statements of Glow-Warm Heating Services Limited (registered number: 03169286) were approved and authorised for issue by the Board of Directors on 30 July 2025. They were signed on its behalf by:

Mr C S Rowe
Director
GLOW-WARM HEATING SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
GLOW-WARM HEATING SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Glow-Warm Heating Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Glow Warm, Vean Road, Camborne, TR14 7TA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of heating and plumbing services.

The company recognises revenue when :
The amount of revenue can be reliably measured;
it is probable the future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Factors that may affect future tax charges

Deferred tax has been measured using a long term corporation rate of 25%, as this was the last rate substantively enacted before the year end.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

The cost of 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 10

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2024 96,000 96,000
At 31 March 2025 96,000 96,000
Accumulated amortisation
At 01 April 2024 96,000 96,000
At 31 March 2025 96,000 96,000
Net book value
At 31 March 2025 0 0
At 31 March 2024 0 0

4. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 April 2024 8,643 76,948 7,180 92,771
Additions 0 32,995 0 32,995
Disposals 0 ( 23,583) 0 ( 23,583)
At 31 March 2025 8,643 86,360 7,180 102,183
Accumulated depreciation
At 01 April 2024 7,863 45,223 6,308 59,394
Charge for the financial year 195 7,749 218 8,162
Disposals 0 ( 20,001) 0 ( 20,001)
At 31 March 2025 8,058 32,971 6,526 47,555
Net book value
At 31 March 2025 585 53,389 654 54,628
At 31 March 2024 780 31,725 872 33,377

5. Stocks

2025 2024
£ £
Stocks 12,457 11,325
Work in progress 8,500 1,000
20,957 12,325

6. Debtors

2025 2024
£ £
Trade debtors 62,029 69,552
Prepayments 949 1,520
62,978 71,072

7. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 28,229 21,622
Amounts owed to directors 30,111 27,721
Accruals 4,000 3,655
Taxation and social security 16,748 37,009
Other creditors 599 796
79,687 90,803

8. Provision for liabilities

2025 2024
£ £
Deferred tax 13,657 8,344

9. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000