Double Quick (Heating) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03853486 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2024

for

Double Quick (Heating) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S C Double

Mrs E Double

Mr J Loram

Mr J Gorniak

REGISTERED OFFICE:

Units 3 & 4 St Helens House

St Helens Way

Thetford

Norfolk

IP24 1HG

REGISTERED NUMBER:

03853486 (England and Wales)

ACCOUNTANTS:

TWR Accountants

The Old Registrars

57a High Street

Brandon

Suffolk

IP27 0AU

BANKERS:

Barclays

4 Bridge Street

Thetford

Norfolk

IP24 3AB

FIXED ASSETS

Tangible assets

4

274,399

327,080

CURRENT ASSETS

Stocks

1,825,407

1,618,729

Debtors

5

787,509

707,818

Cash at bank and in hand

525,299

566,763

3,138,215

2,893,310

CREDITORS

Amounts falling due within one year

6

1,667,285

1,380,717

NET CURRENT ASSETS

1,470,930

1,512,593

TOTAL ASSETS LESS CURRENT LIABILITIES

1,745,329

1,839,673

CREDITORS

Amounts falling due after more than one
year

7

(217,740

)

(354,895

)

PROVISIONS FOR LIABILITIES

(50,148

)

(60,031

)

NET ASSETS

1,477,441

1,424,747

CAPITAL AND RESERVES

Called up share capital

200

Retained earnings

9

1,477,241

1,424,547

SHAREHOLDERS' FUNDS

1,477,441

1,424,747

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 2nd September 2025 and were signed on its behalf by:

Mr S C Double - Director

1.	STATUTORY INFORMATION

Double Quick (Heating) Limited 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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

COST

At 1st January 2024

2,474

379,852

222,525

604,851

Additions

-

15,480

25,109

40,589

Disposals

(2,474

)

(12,678

)

(28,999

)

(44,151

)

At 31st December 2024

-

382,654

218,635

601,289

DEPRECIATION

At 1st January 2024

2,223

205,276

70,272

277,771

Charge for year

-

37,638

41,282

78,920

Eliminated on disposal

(2,223

)

(10,813

)

(16,765

)

(29,801

)

At 31st December 2024

-

232,101

94,789

326,890

NET BOOK VALUE

At 31st December 2024

-

150,553

123,846

274,399

At 31st December 2023

251

174,576

152,253

327,080

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

COST

At 1st January 2024

133,000

212,530

345,530

Additions

-

25,109

Disposals

-

(28,999

)

(28,999

)

At 31st December 2024

133,000

208,640

341,640

DEPRECIATION

At 1st January 2024

26,600

62,648

89,248

Charge for year

21,280

40,689

61,969

Eliminated on disposal

-

(16,765

)

(16,765

)

At 31st December 2024

47,880

86,572

134,452

NET BOOK VALUE

At 31st December 2024

85,120

122,068

207,188

At 31st December 2023

106,400

149,882

256,282

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

772,988

682,672

Prepayments

14,521

25,146

787,509

707,818

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

55,100

52,260

Hire purchase contracts

101,196

97,094

Trade creditors

1,223,244

950,437

Tax

131,516

169,328

Social security and other taxes

14,815

12,649

VAT

111,408

76,566

Other creditors

10,042

9,016

Directors' current accounts

17,774

11,242

Accrued expenses

2,190

2,125

1,667,285

1,380,717

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans - 1-2 years

51,432

55,250

Bank loans - 2-5 years

87,263

138,567

Hire purchase contracts

79,045

161,078

217,740

354,895

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

193,795

246,077

Hire purchase contracts

180,241

258,172

374,036

504,249

9.

RESERVES

Retained

earnings

£

At 1st January 2024

1,424,547

Profit for the year

253,931

Dividends

(201,237

)

At 31st December 2024

1,477,241

10.	RELATED PARTY DISCLOSURES

During the year the company sold and bought goods totalling £nil (2023: £3,897) and £nil (2023: £45) net of VAT respectively from Double Quick (Anglia) Limited, a company in which the directors were shareholders. These transactions were carried out at arms length. At the balance sheet date the company owed £nil (2023: £1,881) to Double Quick (Anglia) Limited.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party are directors Mr S C Double and Mrs E Double who own 51% and 49% of the issued share capital respectively.