Registered number
11058908
MR HEAT AND GAS LIMITED
Filleted Accounts
30 November 2024
MR HEAT AND GAS LIMITED
Registered number: 11058908
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,007 7,903
Current assets
Stocks 2,240 -
Debtors 4 27,938 21,299
Cash at bank and in hand 11,547 10,885
41,725 32,184
Creditors: amounts falling due within one year 5 (17,383) (17,334)
Net current assets 24,342 14,850
Total assets less current liabilities 30,349 22,753
Creditors: amounts falling due after more than one year 6 (10,787) (13,227)
Net assets 19,562 9,526
Capital and reserves
Called up share capital 200 200
Profit and loss account 19,362 9,326
Shareholders' funds 19,562 9,526
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jeffrey Ofori
Director
Approved by the board on 4 August 2025
MR HEAT AND GAS LIMITED
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023 18,461
Additions 1,242
At 30 November 2024 19,703
Depreciation
At 1 December 2023 10,558
Charge for the year 3,138
At 30 November 2024 13,696
Net book value
At 30 November 2024 6,007
At 30 November 2023 7,903
4 Debtors 2024 2023
£ £
Trade debtors 12,586 7,299
Other debtors 15,352 14,000
27,938 21,299
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,440 2,440
Trade creditors 211 -
Taxation and social security costs 13,930 10,761
Other creditors 802 4,133
17,383 17,334
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans secured 10,787 13,227
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Jeffrey Ofori
Loan 14,000 - - 14,000
14,000 - - 14,000
8 Controlling party
The company was in both the current and preceding accounting periods under the ultimate control of its director by virtue of his ownership of the company’s entire issued share capital.
9 Other information
MR HEAT AND GAS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
11-13 Granbridge Street
Flat C
London
N1 8JL
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