Harvest Heat Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08017268

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Harvest Heat Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Dr P J Dawe

REGISTERED OFFICE:

F14&15 Lanwades Hall

Bury Road

Kentford

Newmarket

Suffolk

CB8 7UA

REGISTERED NUMBER:

08017268

ACCOUNTANTS:

Knights Lowe Chartered Accountants

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Tangible assets

4

1,841

14,543

CURRENT ASSETS

Stocks

3,448

2,000

Debtors

5

12,998

22,334

Cash at bank

1,128

1,784

17,574

26,118

CREDITORS

Amounts falling due within one year

6

83,535

90,548

NET CURRENT LIABILITIES

(65,961

)

(64,430

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(64,120

)

(49,887

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(64,220

)

(49,987

)

SHAREHOLDERS' FUNDS

(64,120

)

(49,887

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2023 and were signed by:

Dr P J Dawe - Director

1.	STATUTORY INFORMATION

Harvest Heat Ltd is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain are shown at fair value.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable from Renewable Heat Incentives for the sale of electricity and incentives relating thereto in the ordinary course of the Company’s activities.Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Tangible fixed assets

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

Plant and machinery

-

10% straight line

Stocks

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

Taxation

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

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in the income statement.

Going concern

Having considered the projected results and cash flows of the company, the director's plan that the company will continue to generate cash in the year ended 31 March 2023 and beyond. The company currently has the support of a connected company and this will continue to provide and extend loans in order that the cash demands can be met. Whilst there is always considerable uncertainty in predicting cash flows more than a few months into the future, the director is confident that the cash demands of the company will be satisfied, and it is therefore appropriate to prepare the financial statements on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

and 31 March 2023

127,058

DEPRECIATION

At 1 April 2022

112,515

Charge for year

12,702

At 31 March 2023

125,217

NET BOOK VALUE

At 31 March 2023

1,841

At 31 March 2022

14,543

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,501

6,294

Other debtors

11,497

16,040

12,998

22,334

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

-

2,513

Other creditors

83,535

88,035

83,535

90,548

Other creditors includes £81,135 (2022: £86,635) due to connected companies. The director, Dr P J Dawe is the controlling party of these connected companies.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100