Statutory Information
Capital Heat Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number 08799258, registration address 66 Paul Street, London, EC2A 4NA, England.
The presentation currency is £ sterling.
| 1. |
Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and sales taxes.
Turnover 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 the 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
Turnover 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 the 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.
Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date.
Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of [no_of_years] years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at historical cost or valuation less depreciation and any provision for impairment. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.
Long-term employee benefits are measured at the present value of the benefit obligation at the reporting date.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Trade and other debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents are highly liquid investments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.
Trade and other creditors
Short-term creditors are measured at the transaction price. The other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.
|
| 2. |
Intangible fixed assets
| Cost or Valuation |
|
Goodwill |
|
Total |
| |
|
£ |
|
£ |
| At 01 April 2024 |
|
10,000 |
|
10,000 |
| At 31 March 2025 |
|
10,000 |
|
10,000 |
| Amortisation |
| At 01 April 2024 |
|
10,000 |
|
10,000 |
| At 31 March 2025 |
|
10,000 |
|
10,000 |
| Net book values |
|
| 3. |
Tangible fixed assets
| Cost or Valuation |
|
Plant and Machinery |
|
Motor Vehicles |
|
Office Equipment |
|
Total |
| |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2024 |
|
4,927 |
|
10,583 |
|
910 |
|
16,420 |
| At 31 March 2025 |
|
4,927 |
|
10,583 |
|
910 |
|
16,420 |
| Depreciation |
| At 01 April 2024 |
|
4,094 |
|
10,583 |
|
549 |
|
15,226 |
| Charge for year |
|
416 |
|
- |
|
180 |
|
596 |
| At 31 March 2025 |
|
4,510 |
|
10,583 |
|
729 |
|
15,822 |
| Net book values |
| Closing balance as at 31 March 2025 |
|
417 |
|
- |
|
181 |
|
598 |
| Opening balance as at 01 April 2024 |
|
833 |
|
- |
|
361 |
|
1,194 |
|
| 4. |
Inventories
|
2025
£ |
|
2024
£ |
| Stocks |
4,000 |
|
4,000 |
|
4,000 |
|
4,000 |
|
| 5. |
Average number of employees
Average number of employees during the year were 5 (2024: 6).
|
2
|