Company No: 11753254

FineHeat Plumbing and Heating Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 10

FineHeat Plumbing and Heating Limited

Company Information

Directors

M K Sheppard S L Hollidge

Registered office

43 Saxonhurst Road Bournemouth Dorset BH10 6JD

Accountants

Brett Pittwood Suite 8 Bourne Gate 25 Bourne Valley Road Poole Dorset BH12 1DY

FineHeat Plumbing and Heating Limited

(Registration number: 11753254)
Balance Sheet as at 31 January 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	19,769	13,648
Tangible assets	5	34,800	36,469
		54,569	50,117
Current assets
Stocks	6	2,500	2,500
Debtors	7	303,068	355,675
Cash at bank and in hand		133,361	80,208
		438,929	438,383
Creditors: Amounts falling due within one year	8	(216,726)	(165,589)
Net current assets		222,203	272,794
Total assets less current liabilities		276,772	322,911
Creditors: Amounts falling due after more than one year	8	(5,711)	(15,711)
Provisions for liabilities		(8,700)	(9,117)
Net assets		262,361	298,083
Capital and reserves
Called up share capital		2	2
Retained earnings		262,359	298,081
Shareholders' funds		262,361	298,083

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 September 2025 and signed on its behalf by:
 

M K Sheppard
Director

FineHeat Plumbing and Heating Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

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:
43 Saxonhurst Road
Bournemouth
Dorset
BH10 6JD
United Kingdom

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

FineHeat Plumbing and Heating Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	18% reducing balance basis
Plant and machinery	25% reducing balance basis
Computer equipment	33% straight line basis

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Over 10 years

FineHeat Plumbing and Heating Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

FineHeat Plumbing and Heating Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

FineHeat Plumbing and Heating Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

Financial instruments

Classification
Financial assets

Basic financial assets
Basic financial assets, which include trade debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2024 - 4).

FineHeat Plumbing and Heating Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

4	Intangible assets

	Goodwill  £	Other intangible assets  £	Total £
Cost or valuation
At 1 February 2024	24,000	5,000	29,000
Revaluations	-	5,169	5,169
At 31 January 2025	24,000	10,169	34,169
Amortisation
At 1 February 2024	12,000	-	12,000
Amortisation charge	2,400	-	2,400
At 31 January 2025	14,400	-	14,400
Carrying amount
At 31 January 2025	9,600	10,169	19,769
At 31 January 2024	12,000	1,648	13,648

FineHeat Plumbing and Heating Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 February 2024	2,580	52,642	55,222
Additions	575	5,845	6,420
At 31 January 2025	3,155	58,487	61,642
Depreciation
At 1 February 2024	1,160	17,593	18,753
Charge for the year	731	7,358	8,089
At 31 January 2025	1,891	24,951	26,842
Carrying amount
At 31 January 2025	1,264	33,536	34,800
At 31 January 2024	1,420	35,049	36,469

6

Stocks

	2025 £	2024 £
Finished goods and goods for resale	2,500	2,500

7

Debtors

	2025 £	2024 £
Trade debtors	74,202	132,519
Other debtors	224,419	220,794
Prepayments	4,447	2,362
	303,068	355,675

FineHeat Plumbing and Heating Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	8,456	8,456
Trade creditors		92,542	17,379
Taxation and social security		11,574	6,272
Accruals and deferred income		3,375	-
Other creditors		100,779	133,482
		216,726	165,589

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	5,711	15,711

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	5,711	15,711

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	8,456	8,456