P.E. Heated Hoses Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03158344 (England and Wales)

P.E. HEATED HOSES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

5

DIRECTORS:

R Davis

M A Davis

K N Hindley

R J Davis

SECRETARY:

M A Davis

REGISTERED OFFICE:

Unit 5, Rossway Business Park

Wharf Approach

Aldridge

West Midlands

WS9 8BX

REGISTERED NUMBER:

03158344 (England and Wales)

ACCOUNTANTS:

Equus Miller Limited

Chartered Certified Accountants

Brook House

47 High Street

Henley in Arden

Warwickshire

B95 5AA

FIXED ASSETS

Tangible assets

4

1,463

2,931

CURRENT ASSETS

Stocks

10,180

14,870

Debtors

5

88,349

161,063

Cash at bank and in hand

156,322

86,929

254,851

262,862

CREDITORS

Amounts falling due within one year

6

121,782

132,192

NET CURRENT ASSETS

133,069

130,670

TOTAL ASSETS LESS CURRENT LIABILITIES

134,532

133,601

PROVISIONS FOR LIABILITIES

278

636

NET ASSETS

134,254

132,965

CAPITAL AND RESERVES

Called up share capital

7

50

50

Retained earnings

134,204

132,915

SHAREHOLDERS' FUNDS

134,254

132,965

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 19 December 2019 and were signed on its behalf by:

R J Davis - Director

1.	STATUTORY INFORMATION

P.E. Heated Hoses Ltd 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 represents net invoiced sales of goods and services, excluding value added tax.

Turnover has been recognised in accordance with Urgent Issues Task Force Abstract 40, application note G.

Provided that the outcome of contracts can be assessed with reasonable certainty, the revenues and costs on

such contracts are recognised based on the stage of completion and the overall contract profitability. Full

provision is made on estimated losses to completion of contracts having regard to the overall substance of the

arrangement

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2018

317

6,888

4,492

11,697

Additions

-

121

-

121

At 31 March 2019

317

7,009

4,492

11,818

DEPRECIATION

At 1 April 2018

254

6,462

2,050

8,766

Charge for year

10

82

1,497

1,589

At 31 March 2019

264

6,544

3,547

10,355

NET BOOK VALUE

At 31 March 2019

53

465

945

1,463

At 31 March 2018

63

426

2,442

2,931

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

Trade debtors

62,891

109,446

Amounts owed by related company

17,203

41,578

Prepayments and accrued income

8,255

10,039

88,349

161,063

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

Trade creditors

43,852

64,299

Corporation tax payable

39,323

49,731

VAT

9,901

1,594

Other creditors

1,641

4,900

Directors' loan accounts

27,065

11,668

121,782

132,192

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/19

31/3/18

value:

£

£

50

Ordinary

£1

50

50

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of P.E. Heated Hoses Ltd for the year ended 31 March 2019 which comprise the Statement of

Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of P.E. Heated Hoses Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of P.E. Heated Hoses Ltd and state those matters that we have agreed to state to the Board of Directors of P.E. Heated Hoses Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that P.E. Heated Hoses Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P.E. Heated Hoses Ltd. You consider that P.E. Heated Hoses Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of P.E. Heated Hoses Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Equus Miller Limited

Chartered Certified Accountants

Brook House

47 High Street

Henley in Arden

Warwickshire

B95 5AA

19 December 2019