Westmancoat Heating Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01077468 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2019

FOR

WESTMANCOAT HEATING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Paul G Sommers

Mrs L M Sommers

SECRETARY:

Mrs L M Sommers

REGISTERED OFFICE:

31 New North Road

Exmouth

Devon

EX8 1RU

REGISTERED NUMBER:

01077468 (England and Wales)

ACCOUNTANTS:

Bush & Co Limited

2 Barnfield Crescent

Exeter

Devon

EX1 1QT

BANKERS:

Barclays Bank PLC

Leicester

LE87 2BB

FIXED ASSETS

Tangible assets

5

25,441

29,903

CURRENT ASSETS

Stocks

8,683

13,193

Debtors

6

20,524

24,076

Cash at bank and in hand

133,693

128,365

162,900

165,634

CREDITORS

Amounts falling due within one year

7

57,482

60,227

NET CURRENT ASSETS

105,418

105,407

TOTAL ASSETS LESS CURRENT LIABILITIES

130,859

135,310

CREDITORS

Amounts falling due after more than one year

8

(6,534

)

-

PROVISIONS FOR LIABILITIES

(4,834

)

(5,682

)

NET ASSETS

119,491

129,628

CAPITAL AND RESERVES

Called up share capital

600

600

Retained earnings

118,891

129,028

SHAREHOLDERS' FUNDS

119,491

129,628

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 6 January 2020 and were signed on its behalf by:

Mrs L M Sommers - Director

1.	STATUTORY INFORMATION

Westmancoat Heating 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and Straight line over 3 years

Government grants

Government grants are accounted for under the accruals model. Grants relating to revenue shall be

recognised in income on a systematic basis over the periods in which the related costs for which the

grant is intended to compensate are recognised.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in

non-convertible preference and non-puttable ordinary shares which are measured at fair value, with

changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and

thereafter at fair value with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss,

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 9 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2018

72,685

Additions

14,750

Disposals

(13,750

)

At 30 September 2019

73,685

DEPRECIATION

At 1 October 2018

42,782

Charge for year

8,613

Eliminated on disposal

(3,151

)

At 30 September 2019

48,244

NET BOOK VALUE

At 30 September 2019

25,441

At 30 September 2018

29,903

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

14,750

Reclassification/transfer

10,460

At 30 September 2019

25,210

DEPRECIATION

Charge for year

5,921

Reclassification/transfer

1,525

At 30 September 2019

7,446

NET BOOK VALUE

At 30 September 2019

17,764

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

17,886

22,006

Other debtors

2,638

2,070

20,524

24,076

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

9,756

-

Trade creditors

19,451

30,621

Taxation and social security

19,579

21,122

Other creditors

8,696

8,484

57,482

60,227

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

6,534

-