Company No: 02387651 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	175,958		152,232
Investment property	4	2,450,243		2,381,390
		2,626,201		2,533,622
Current assets
Debtors	5	1,145,513		1,595,852
Cash at bank and in hand		1,184,505		437,459
		2,330,018		2,033,311
Creditors: amounts falling due within one year	6	( 1,331,501)		( 1,027,498)
Net current assets		998,517		1,005,813
Total assets less current liabilities		3,624,718		3,539,435
Provision for liabilities		( 365,021)		( 346,676)
Net assets		3,259,697		3,192,759
Capital and reserves
Called-up share capital	7	1,000		1,000
Profit and loss account		3,258,697		3,191,759
Total shareholders' funds		3,259,697		3,192,759

For the financial year ending 31 March 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of T.E.J. Heating (Plymouth) Limited (registered number: 02387651) were approved and authorised for issue by the Board of Directors on 23 December 2025. They were signed on its behalf by:

Mr W Jordan Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

T.E.J. Heating (Plymouth) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 14 63 Sisna Park Road, Estover, Plymouth, PL6 7AE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as
a prepayment.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on the following basis over its expected useful life, as follows:

Leasehold improvements	50 years straight line
Vehicles	20 % reducing balance
Fixtures and fittings	10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Investment property

Investment property is carried at fair value. The directors assess fair value, having regard for current market prices for comparable real estate and using observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
No depreciation is provided in respect of investment properties applying the fair value model.

Cash and cash equivalents

Cash and cash equivalents and bank overdrafts include monies held in UK and foreign bank accounts and petty cash on hand. Monies held in foreign bank accounts are held on behalf of the company by Mr W R Jordan but remain, in commercial substance, the property of T E J Heating (Plymouth) Limited.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	25		27

3. Tangible assets

	Leasehold improve- ments		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 April 2024	52,141		177,764		180,136		410,041
Additions	0		38,668		6,806		45,474
At 31 March 2025	52,141		216,432		186,942		455,515
Accumulated depreciation
At 01 April 2024	16,702		106,451		134,656		257,809
Charge for the financial year	1,044		16,273		4,431		21,748
At 31 March 2025	17,746		122,724		139,087		279,557
Net book value
At 31 March 2025	34,395		93,708		47,855		175,958
At 31 March 2024	35,439		71,313		45,480		152,232

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	2,381,390
Additions	68,853
As at 31 March 2025	2,450,243

A reasonable estimate of the fair value of the investment properties has been assessed by the directors at the balance sheet date, taking into account recent valuations, the timing of additions and changes in the business and wider market. There has been no independent valuation of investment property.

5. Debtors

	2025		2024
	£		£
Trade debtors	95,982		51,434
Amounts owed by directors	41,447		18,752
Prepayments	27,270		20,577
VAT recoverable	79,904		49,907
Retentions receivable	297,502		222,030
Other debtors	603,408		1,233,152
	1,145,513		1,595,852

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	806,637		633,621
Accruals	94,079		18,994
Taxation and social security	99,892		61,783
Other creditors	330,893		313,100
	1,331,501		1,027,498

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
510 Ordinary A shares of £ 1.00 each	510		510
390 Ordinary B shares of £ 1.00 each	390		390
100 Ordinary C shares of £ 1.00 each	100		100
	1,000		1,000

8. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	29,500		30,104

9. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Opening balance	18,752		21,761
Advance to directors	151,027		136,922
Repayments by directors	(128,852)		(140,382)
Interest charges	520		451
Closing balance	41,447		18,752

T.E.J Heating (Plymouth) Limited operates a loan account with its directors. The loan has no fixed date of repayment and bears interest at the rate stipulated by HMRC on any amounts exceeding £10,000.