REGISTERED NUMBER: 09019006 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Trust Electric Heating Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mrs Fiona Conor

Mr Scott Conor

Mr David Arthur Hodkin

Dr Kerry Jean Mashford

REGISTERED OFFICE:

Trust House

Unit 12, Elmfield Business Park

Lotherton Way

Garforth, Leeds

West Yorkshire

LS25 2JY

REGISTERED NUMBER:

09019006 (England and Wales)

ACCOUNTANTS:

Langricks (Holmfirth) Limited

4 Greenfield Road

Holmfirth

West Yorkshire

HD9 2JT

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Trust Electric Heating Ltd for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Trust Electric Heating Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Trust Electric Heating Ltd and state those matters that we have agreed to state to the Board of Directors of Trust Electric Heating Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trust Electric Heating Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Trust Electric Heating Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Trust Electric Heating Ltd. You consider that Trust Electric Heating Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Trust Electric Heating Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Langricks (Holmfirth) Limited

4 Greenfield Road

Holmfirth

West Yorkshire

HD9 2JT

12 September 2025

FIXED ASSETS

Intangible assets

4

810,064

660,152

Tangible assets

5

98,342

79,841

908,406

739,993

CURRENT ASSETS

Stocks

138,275

99,787

Debtors

6

1,182,786

493,407

Cash at bank

96,457

121,091

1,417,518

714,285

CREDITORS

Amounts falling due within one year

7

1,436,811

337,742

NET CURRENT (LIABILITIES)/ASSETS

(19,293

)

376,543

TOTAL ASSETS LESS CURRENT LIABILITIES

889,113

1,116,536

CREDITORS

Amounts falling due after more than one year

8

2,053,831

1,371,925

NET LIABILITIES

(1,164,718

)

(255,389

)

CAPITAL AND RESERVES

Called up share capital

1,846

1,846

Share premium

249,550

249,550

Retained earnings

(1,416,114

)

(506,785

)

(1,164,718

)

(255,389

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:

Mrs Fiona Conor - Director

1.	STATUTORY INFORMATION

Trust Electric Heating Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost and relate to development expenditure on defined projects. Once the project is complete, the expenditure is amortised over a period from which the company anticipates to receive an economic benefit. For the projects being amortised, the amortisation period is five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on reducing balance, 33% on cost, 25% on reducing balance and 25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year/period comprises current and deferred tax. Tax is recognised in the income statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

934,757

Additions

421,079

At 31 December 2024

1,355,836

AMORTISATION

At 1 January 2024

274,605

Charge for year

271,167

At 31 December 2024

545,772

NET BOOK VALUE

At 31 December 2024

810,064

At 31 December 2023

660,152

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

63,260

46,225

109,485

Additions

-

35,921

35,921

At 31 December 2024

63,260

82,146

145,406

DEPRECIATION

At 1 January 2024

688

28,956

29,644

Charge for year

6,326

11,094

17,420

At 31 December 2024

7,014

40,050

47,064

NET BOOK VALUE

At 31 December 2024

56,246

42,096

98,342

At 31 December 2023

62,572

17,269

79,841

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

13,263

97,967

Other debtors

1,169,523

395,440

1,182,786

493,407

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,403

7,099

Trade creditors

376,748

283,280

Taxation and social security

66,283

31,093

Other creditors

983,377

16,270

1,436,811

337,742

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

4,413

17,865

Other creditors

2,049,418

1,354,060

2,053,831

1,371,925