Company registration number: 09718701
Unaudited financial statements
for the year ended 31 August 2025
for
Mid Cornwall Heating Limited
Pages for filing with the Registrar
Mid Cornwall Heating Limited
Chartered Accountants' Report to the Director for the preparation of the unaudited
financial statements
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mid Cornwall Heating Limited for the year ended 31 August 2025 which comprise the Profit and loss account, Balance sheet and the notes to the financial statements from the company's accounting records and from information and explanations you have given us.
As a 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 https://www.icaew.com/regulation.
This report is made solely to the Director of Mid Cornwall Heating Limited, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Mid Cornwall Heating Limited and state those matters that we have agreed to state to them 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 Mid Cornwall Heating Limited and its Director for our work, or for this report.
It is your duty to ensure that Mid Cornwall Heating Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Mid Cornwall Heating Limited. You consider that Mid Cornwall Heating Limited 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 accounts of Mid Cornwall Heating Limited. 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.
Mitchell Chartered Accountants
Marlborough
Hillcrest
Helston
Cornwall
TR13 8UN
United Kingdom
Date: 3 December 2025
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Company registration number: 09718701
Mid Cornwall Heating Limited
Balance sheet
as at 31 August 2025
2025 2024
Note £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 18,730 23,787
18,730 23,787
Current assets
Stocks 2,300 2,500
Debtors 13,165 8,391
Cash at bank and in hand 22,680 26,714
38,145 37,605
Creditors: amounts falling due within one
year 		(23,213) (21,864)
Net current assets 14,932 15,741
Total assets less current liabilities 33,662 39,528
Creditors: Amounts falling due after more
than one year 		(14,400) (14,963)
Provisions for liabilities (3,559) (4,519)
NET ASSETS 15,703 20,046
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 14,703 19,046
TOTAL EQUITY 15,703 20,046
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 August 2025.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 09718701
Mid Cornwall Heating Limited
Balance sheet - continued
as at 31 August 2025
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 Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr A Herbert, Director
3 December 2025
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Mid Cornwall Heating Limited
Notes to the financial statements
for the year ended 31 August 2025
1 Company information
Mid Cornwall Heating Limited is a private company registered in England and Wales. Its registered number is 09718701. The company is limited by shares. Its registered office is 15 Bosvean Road, Shortlanesend, Truro, Cornwall, TR4 9DX.
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 historic cost convention.
Presentation currency
The company's financial statements are presented in sterling.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Goodwill -
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Mid Cornwall Heating Limited
Notes to the financial statements - continued
for the year ended 31 August 2025
2 Accounting policies - continued
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.
Plant and machinery etc.:
Plant and machinery - 20% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 20% 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 taxation. Tax is recognised in the Profit and loss account, 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 taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably 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.
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Mid Cornwall Heating Limited
Notes to the financial statements - continued
for the year ended 31 August 2025
3 Average number of employees
During the year the average number of employees was 1 (2024 - 1).
4 Intangible assets
Goodwill
£
Cost
At 1 September 2024 11,000
At 31 August 2025 11,000
Amortisation
At 1 September 2024 11,000
At 31 August 2025 11,000
Net book value
At 31 August 2025 -
At 31 August 2024 -
5 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 September 2024 45,479
Additions 967
At 31 August 2025 46,446
Depreciation
At 1 September 2024 21,692
Charge for year 6,024
At 31 August 2025 27,716
Net book value
At 31 August 2025 18,730
At 31 August 2024 23,787
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Mid Cornwall Heating Limited
Notes to the financial statements - continued
for the year ended 31 August 2025
6 Advances, credit and guarantees granted to the director
The following advances and credits to a director subsisted during the years ended 31 August 2025 and 31 August 2024.
2025 2024
£ £
Mr A W Herbert
Balance outstanding at start of year (957) (211)
Amounts advanced 1,575 581
Amounts repaid (2,322) (1,327)
Balance outstanding at end of year (1,704) (957)
No interest is charged on the loan and no amounts have been written off or waived. The company pays for some personal items for the director and does some cash transfers. The loan is repaid by the director's dividends.
7 Share capital
The company has 1,000 Ordinary £1 shares that have been allotted, issued and fully paid.
8 Debtors
Debtors consist of trade debtors £2,607 (2024: £1,576), other debtors £8,713 (2024: £5,792) and prepayments £1,845 (2024: £1,023).
9 Creditors
Creditors consist of trade creditors £12,166 (2024: £6,697, other creditors £2,869 (2024: £3,784), accruals £843 (2024: £896) and taxation and social security £7,335 (2024: £10,487).
10 Secured liabilities
The hire purchase liability for the van is secured on the van. The liability is £1,914 (2024: £1,914) due within 1 year and £14,400 £14,963) due after 1 year.
11 Controlling party
The controlling party is Mr A W Herbert.
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