REGISTERED NUMBER: 10921774 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 AUGUST 2025

FOR

BAXTER HEAT PUMPS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr S J Baxter

Mr P Baxter

REGISTERED OFFICE:

Southgate Chambers

37-39 Southgate Street

Winchester

SO23 9EH

REGISTERED NUMBER:

10921774 (England and Wales)

ACCOUNTANTS:

Marsland Nash Associates

Chartered Tax Advisers, Accountants

and Business Consultants

Vantage Point House

Silverhills Road

Decoy Industrial Estate

Newton Abbot

Devon

TQ12 5ND

BANKERS:

NatWest

19 East Street

Ashburton

Newton Abbot

Devon

TQ13 7AF

FIXED ASSETS

Tangible assets

4

1,527

2,572

CURRENT ASSETS

Stocks

5

22,857

54,000

Debtors

6

104,905

43,182

Cash at bank

108,532

73,160

236,294

170,342

CREDITORS

Amounts falling due within one year

7

147,651

133,905

NET CURRENT ASSETS

88,643

36,437

TOTAL ASSETS LESS CURRENT LIABILITIES

90,170

39,009

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

89,970

38,809

SHAREHOLDERS' FUNDS

90,170

39,009

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2026 and were signed on its behalf by:

Mr S J Baxter - Director

1.	STATUTORY INFORMATION

Baxter Heat Pumps Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 tax

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 have been enacted or substantively enacted by the year end 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 31 August 2024

and 30 August 2025

2,585

466

3,379

6,430

DEPRECIATION

At 31 August 2024

1,581

268

2,009

3,858

Charge for year

151

49

845

1,045

At 30 August 2025

1,732

317

2,854

4,903

NET BOOK VALUE

At 30 August 2025

853

149

525

1,527

At 30 August 2024

1,004

198

1,370

2,572

5.

STOCKS

2025

2024

£

£

Stocks

10,000

39,000

Work-in-progress

12,857

15,000

22,857

54,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

95,691

38,568

Other debtors

7,925

4,614

Directors' current accounts

1,289

-

104,905

43,182

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

3,387

-

Amounts owed to group undertakings

20,067

249

Tax

52,703

29,763

Social security and other taxes

3,208

4,916

VAT

51,832

65,465

Other creditors

13,516

25,766

Accruals and deferred income

2,938

7,746

147,651

133,905

8.	OTHER FINANCIAL COMMITMENTS

At 30 August 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £55,737 (2024: £49,499)

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 August 2025 and the period ended 30 August 2024:

2025

2024

£

£

Mr S J Baxter

Balance outstanding at start of year

-

9,817

Amounts advanced

12,580

43,256

Amounts repaid

(12,580

)

(53,073

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Mr P Baxter

Balance outstanding at start of year

-

(3,798

)

Amounts advanced

1,289

3,798

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,289

-

Loans are unsecured, interest free and repayable on demand.