Fair Heat Holding Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit Tr1
Trowbray House
108 Weston Street
LONDON
SE1 3QB

2	Accounting policies

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.

These financial statements are presented in Sterling (£).

Going concern

The Directors have reasonable expectation that the Company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. As a result the Directors believe that the going concern basis is appropriate. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Creditors

Short term creditors are measured at the transaction price. Other finical liabilities, including bank loans, are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Capital contribution to the employee ownership trust

Capital contribution to the employee ownership trust is recognised as a distribution in the financial statements in the reporting period in which the contributions are declared.

Fair Heat Holding Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

3	Judgments in appying accounting policies and key sources of estimation uncertainty

In the application of Company’s accounting policies, the Directors are required to make judgements, estimates and assumptions about carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the accounting period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

4	Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2023 - 2).

5	Current asset investments

	2024 £	2023 £
Investment in group undertakings	19,373	19,373

Fair Heat Holding Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Amounts owed to group undertakings	9,264	7,402

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary Class A shares of £0.0002 each of £0.00 each	270,000	54.00	270,000	54.00
Ordinary Class C shares of £0.0002 each of £0.00 each	101,250	20.25	101,250	20.25
Ordinary Class D shares of £0.0002 each of £0.00 each	32	0.01	35	0.01
Ordinary Class E shares of £0.0002 each of £0.00 each	270,000	54.00	270,000	54.00
	641,282	128.26	641,285	128.26

8	Related party transactions

The Company has taken the available exemption under FRS102 Section 1A to not disclose related party transactions with other wholly owned group companies. Details of the creditor balances held with group companies can be found in note 6. The amounts are repayable on demand and no interest is charged on the balances.

During the year the Company paid dividends totalling £502,999 (2023 - £382,000) to its directors and employees.

9	Controlling party

During the year, the entire share capital of the company was acquired by the Fair Heat Employee Ownership Trust (the 'Trust'). This has resulted in the company and its subsidiary, Fair Heat Limited (together the 'group) becoming an Employee Owned Trust (EOT) Group.

The group has settled, during the year, transaction and other expenses on behalf of the trust of £243,657 and £nil was owed at the year end. The company has provided a capital gift to the Trust of £500,000.