Steam Boilers (Leicester) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01995397 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2019

FOR

STEAM BOILERS (LEICESTER) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J R Atkins

REGISTERED OFFICE:

68 Amy Street

Leicester

LE3 2FB

REGISTERED NUMBER:

01995397 (England and Wales)

ACCOUNTANTS:

SFB Group Limited

Chartered Accountants

Unit 8 Oak Spinney Park

Ratby Lane

Leicester Forest East

Leicester

LE3 3AW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

17,404

11,044

17,404

11,044

CURRENT ASSETS

Stocks

61,500

11,500

Debtors

6

14,932

8,042

Cash at bank and in hand

1

14,079

76,433

33,621

CREDITORS

Amounts falling due within one year

7

62,070

13,372

NET CURRENT ASSETS

14,363

20,249

TOTAL ASSETS LESS CURRENT LIABILITIES

31,767

31,293

CREDITORS

Amounts falling due after more than one year

8

10,504

-

NET ASSETS

21,263

31,293

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

21,163

31,193

SHAREHOLDERS' FUNDS

21,263

31,293

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 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 on 12 December 2019 and were signed by:

J R Atkins - Director

1.	STATUTORY INFORMATION

Steam Boilers (Leicester) Limited 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 and represents the amount receivable for

goods supplied, net of returns, discounts, valued added tax and other sales taxes.

Goodwill

Goodwill, being the amount pain in connection with the acquisition of a business in 2003, was amortised evenly over its

estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using

either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and machinery

25% per annum on net book amount

Motor vehicles

25% per annum on net book amount

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate,

or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in

profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost

of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its

selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the

arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future

receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective

interest method, less any impairment.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are

initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt

instrument is measured at the present value of the future payments discounted at a market rate of interest. Such

instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2018

and 31 May 2019

45,000

AMORTISATION

At 1 June 2018

and 31 May 2019

45,000

NET BOOK VALUE

At 31 May 2019

-

At 31 May 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 June 2018

25,163

29,618

54,781

Additions

-

17,400

17,400

Disposals

-

(16,559

)

(16,559

)

At 31 May 2019

25,163

30,459

55,622

DEPRECIATION

At 1 June 2018

23,491

20,246

43,737

Charge for year

418

5,383

5,801

Eliminated on disposal

-

(11,320

)

(11,320

)

At 31 May 2019

23,909

14,309

38,218

NET BOOK VALUE

At 31 May 2019

1,254

16,150

17,404

At 31 May 2018

1,672

9,372

11,044

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

10,229

5,051

VAT

1,621

-

Prepayments

3,082

2,991

14,932

8,042

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

21,431

2,773

Hire purchase contracts

3,707

-

Trade creditors

2,583

3,487

Tax

-

(457

)

VAT

-

4,704

Directors' current accounts

34,027

2,265

Accruals and deferred income

322

600

62,070

13,372

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

10,504

-

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by J R Atkins, the director of the company, by virtue of his shareholding.