Heatec (Herts) LLP Accounts

HEATEC (HERTS) LLP - Company Information






Heatec (Herts) LLP

	Registered No. OC304876
	Information for Filing with the Registrar
		31 January 2022

at	31 January 2022

Registered No.			OC304876	Notes	2022	2021
					£	£
Fixed assets

	Tangible assets			5	64,673	51,786


					64,673	51,786
Current assets

	Debtors			6	40,211	140,140

	Cash at bank and in hand				213,766	154,969
					253,977	295,109
Creditors: Amounts falling due within one year				7	(54,929)	(80,374)
Net current assets					199,048	214,735
Total assets less current liabilities					263,721	266,521
Creditors: Amounts falling due after more than one year				8	-	(46,666)

Net assets attributable to members					263,721	219,855

Represented by:
	Loans and other debts due to members				262,721	218,855
	Members' other interests
		Members' capital			1,000	1,000


					1,000	1,000

					263,721	219,855



These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

For the year ended 31 January 2022 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.


Approved by the members on 23 June 2022

And signed on its behalf by designated member:

P. Lovick
Designated member

for the year ended 31 January 2022

General information

Its registered number is: OC304876

Its registered office is:

11 St Margarets Road

Stanstead Abbots

Hertfordshire

SG12 8EP

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• 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 economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

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

Plant and machinery

25% Reducing balance

Motor vehicles

25% Reducing balance

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. 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.

Members' Interests

Members' interests are classified as either equity or debt.

Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves.

Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members.

Taxation

Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3	Information in relation to members




		2022	2021
		£	£



	Automatic division of profits	211,624	162,304
		211,624	162,304

4	Employees
		2022	2021
		Number	Number

	The average number of persons employed during the year:	6	6

5	Tangible fixed assets
		Plant and machinery	Motor vehicles	Total
		£	£	£
	Cost
	At 1 February 2021	6,015	130,008	136,023
	Additions	-	34,448	34,448



	At 31 January 2022	6,015	164,456	170,471
	Depreciation
	At 1 February 2021	4,519	79,718	84,237
	Charge for the year	376	21,185	21,561



	At 31 January 2022	4,895	100,903	105,798
	Net book values
	At 31 January 2022	1,120	63,553	64,673
	At 31 January 2021	1,496	50,290	51,786

6	Debtors
		2022	2021
		£	£
	Trade debtors	36,416	136,305




	Prepayments and accrued income	3,795	3,835
		40,211	140,140

7	Creditors:
	amounts falling due within one year
		2022	2021
		£	£
	Bank loans and overdrafts	-	3,334


	Trade creditors	41,719	28,741

	Other taxes and social security	3,380	45,232
	Other creditors	9,830	3,067

		54,929	80,374

8	Creditors:
	amounts falling due after more than one year
		2022	2021
		£	£
	Bank loans and overdrafts	-	46,666






		-	46,666

9	Loans and other debts due to members
		2022	2021
		£	£



	Amounts due to members in respect of profits	262,721	218,855
		262,721	218,855

	Amounts falling due within one year	262,721	-

		262,721	218,855