Douglas Community Ecoheat Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC373075

Douglas Community Ecoheat Limited

Company Limited by Guarantee

Filleted Unaudited Financial Statements

For the year ended

31 January 2025

Douglas Community Ecoheat Limited

Company Limited by Guarantee

Financial Statements

Year ended 31st January 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Douglas Community Ecoheat Limited

Company Limited by Guarantee

Statement of Financial Position

31 January 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	48,364	56,297

Current assets

Stocks		4,670	543
Debtors	7	6,616	4,866
Cash at bank and in hand		5,441	2,375
		--------	-------
		16,727	7,784

Creditors: amounts falling due within one year	8	13,315	8,631
		--------	-------
Net current assets/(liabilities)		3,412	( 847)
		--------	--------
Total assets less current liabilities		51,776	55,450

Creditors: amounts falling due after more than one year	9	42,231	50,165
		--------	--------
Net assets		9,545	5,285
		--------	--------

Douglas Community Ecoheat Limited

Company Limited by Guarantee

Statement of Financial Position (continued)

31 January 2025

	2025	2024
Note	£	£

Capital and reserves

Profit and loss account	9,545	5,285
	-------	-------
Members funds	9,545	5,285
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31st 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 24 October 2025 , and are signed on behalf of the board by:

Mr Thomas Blackwood	Mr Martin Millar
Director	Director

Company registration number: SC373075

Douglas Community Ecoheat Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31st January 2025

1. General information

The company is a private company limited by guarantee, registered in Scotland. The address of the registered office is St Brides Centre, Braehead Road, Douglas, Lanark, ML11 0PT, Scotland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The accounts have been prepared on the going concern basis as a result of the continuing support of the company's customers and the parent charity. It is its intention to continue to support the company for at least a year from the date of signing the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts. Revenue from the sale of goods is recognised when the goods have transferred to the buyer, usually on supply of the goods and the amount of revenue can be measured reliably.

Taxation

The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and machinery	-	5% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Grants received

Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants received in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Company limited by guarantee

Douglas Community Ecoheat Limited was incorporated on 16 February 2010 as a company 'limited by guarantee', where members guarantee to meet the debts of the company if necessary, but only up to a limit of £1.

5. Staff

The average number of persons employed by the company during the year amounted to Nil (2024: Nil).

6. Tangible assets

	Plant and machinery
	£
Cost
At 1st February 2024 and 31st January 2025	158,648
	---------
Depreciation
At 1st February 2024	102,351
Charge for the year	7,933
	---------
At 31st January 2025	110,284
	---------
Carrying amount
At 31st January 2025	48,364
	---------
At 31st January 2024	56,297
	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	6,616	4,866
	-------	-------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Other creditors	13,315	8,631
	--------	-------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	42,231	50,165
	--------	--------

10. Related party transactions

The company is a membership organisation with 6 directors. Any profits or surpluses are either built up in reserves to cover any unforeseen costs associated with the heating system or reinvested in the activities of the organisation. Any assets remaining on the dissolution of the company are to be transferred to Douglas St Bride's Community Group. Douglas Community Ecoheat Limited operates a Biomass Heating Project. Income includes £16,673 (2024: £12,391) in the year for the supply of heating to Douglas St Bride's Community Group. The balance owed by Douglas St Bride's Community Group was £3,953 (2024: £3,516) which is included in debtors at the balance sheet date.