Company No: 03169286 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	4	40,971		54,628
		40,971		54,628
Current assets
Stocks	5	16,702		20,957
Debtors	6	36,894		62,978
Cash at bank and in hand		287,076		254,686
		340,672		338,621
Creditors: amounts falling due within one year	7	( 71,344)		( 79,687)
Net current assets		269,328		258,934
Total assets less current liabilities		310,299		313,562
Provision for liabilities	8	( 10,243)		( 13,657)
Net assets		300,056		299,905
Capital and reserves
Called-up share capital	9	1,000		1,000
Profit and loss account		299,056		298,905
Total shareholders' funds		300,056		299,905

For the financial year ending 31 March 2026 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 Glow-Warm Heating Services Limited (registered number: 03169286) were approved and authorised for issue by the Board of Directors on 25 August 2026. They were signed on its behalf by:

Mr C S Rowe 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

Glow-Warm Heating Services 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 Glow Warm, Vean Road, Camborne, TR14 7TA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of heating and plumbing services.

The company recognises revenue when :
The amount of revenue can be reliably measured;
it is probable the future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) 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.

Factors that may affect future tax charges

Deferred tax has been measured using a long term corporation rate of 25%, as this was the last rate substantively enacted before the year end.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

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 a reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Office equipment	25 % 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

The cost of work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

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

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	8		9

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2025	96,000		96,000
At 31 March 2026	96,000		96,000
Accumulated amortisation
At 01 April 2025	96,000		96,000
At 31 March 2026	96,000		96,000
Net book value
At 31 March 2026	0		0
At 31 March 2025	0		0

4. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£
Cost
At 01 April 2025	8,643		86,360		7,180		102,183
At 31 March 2026	8,643		86,360		7,180		102,183
Accumulated depreciation
At 01 April 2025	8,058		32,971		6,526		47,555
Charge for the financial year	146		13,347		164		13,657
At 31 March 2026	8,204		46,318		6,690		61,212
Net book value
At 31 March 2026	439		40,042		490		40,971
At 31 March 2025	585		53,389		654		54,628

5. Stocks

	2026		2025
	£		£
Stocks	13,702		12,457
Work in progress	3,000		8,500
	16,702		20,957

6. Debtors

	2026		2025
	£		£
Trade debtors	28,550		62,029
Other debtors	8,344		949
	36,894		62,978

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	9,678		28,229
Taxation and social security	21,835		16,748
Other creditors	39,831		34,710
	71,344		79,687

8. Provision for liabilities

	2026		2025
	£		£
Deferred tax	10,243		13,657

9. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each	1,000		1,000