Premier_Heating_Surrey_Ltd_31_May_2025_companies_house_set_of

Premier Heating Surrey Ltd

Statement of Financial Position

31 May 2025

		2025		2024
	Note	£		£
Fixed assets
Tangible assets	5	179,273		247,847
Current assets
Stocks		60,723		77,273
Debtors	6	56,021		84,304
Cash at bank and in hand		363,578		307,992
		480,322		469,569
Creditors: amounts falling due within one year	7	(310,661	)	(350,236	)
Net current assets		169,661		119,333
Total assets less current liabilities		348,934		367,180
Creditors: amounts falling due after more than one year	8	(69,450	)	(75,695	)
Net assets		279,484		291,485
Capital and reserves
Called up share capital		10		10
Other reserves		90		90
Profit and loss account		279,384		291,385
Shareholders funds		279,484		291,485

For the year ending

31 May 2025

, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These

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.

These

financial statements

were approved by the board of directors and authorised for issue on

11 December 2025

, and are signed on behalf of the board by:

Mr Keith Richards

Director

Company registration number:

00993248

Premier Heating Surrey Ltd

Notes to the Financial Statements

Year ended

31 May 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

Unit 3 Clasford Farm

Aldershot Road

Guildford

Surrey

GU3 3HQ

, United Kingdom.

2 Statement of compliance

These

financial statements

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

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Current tax

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 measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

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

Plant and machinery	33% straight line
Fixtures and fittings	33% straight line
Motor vehicles	25% straight line

Stocks

Stocks are stated at the lower of cost and net realisable value, being estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays a fixed contribution into a separate entity. Once the contributions have been paid the Company has no further obligations.

The contributions are recognised as an expense in the statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the Company in an independently administered fund.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was

(2024:

20.00

5 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 June 2024	591,402
Additions	61,144
Disposals	(49,957	)
At 31 May 2025	602,589
Depreciation
At 1 June 2024	343,555
Charge	129,718
Disposals	(49,957	)
At 31 May 2025	423,316
Carrying amount
At 31 May 2025	179,273
At 31 May 2024	247,847

6 Debtors

	2025	2024
	£	£
Trade debtors	45,065	72,833
Other debtors	10,956	11,471
	56,021	84,304

7 Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,455	10,650
Trade creditors	96,118	117,672
Taxation and social security	123,771	128,940
Other creditors	80,317	92,974
	310,661	350,236

8 Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	-	10,074
Other creditors	69,450	65,621
	69,450	75,695

9 Operating leases

	2025	2024
The company as lessee
	£	£
Not later than 1 year	18,939.00	18,939.00
Later than 1 year and not later than 5 years	16,944.00	21,409
	35,883	40,348

10 Guarantees and other financial commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £23,341 (2023 - £22,172). Contributions totalling £5,005 (2023 - £1,994) were payable to the fund at the reporting date and are included in creditors