MCT Heating Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05966227 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st October 2019

for

MCT Heating Services Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

M C Timmins

SECRETARY:

Mrs C E Timmins

REGISTERED OFFICE:

101 Dixons Green Road

Dudley

West Midlands

DY2 7DJ

REGISTERED NUMBER:

05966227 (England and Wales)

ACCOUNTANTS:

Neil Westwood & Co.

Chartered Accountants

101 Dixons Green Road

Dudley

West Midlands

DY2 7DJ

The following reproduces the text of the report prepared for the director 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 Director 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 MCT Heating Services Ltd for the year ended 31st October 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of MCT Heating Services Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MCT Heating Services Ltd and state those matters that we have agreed to state to the director of MCT Heating Services Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MCT Heating Services Ltd and its director for our work or for this report.

It is your duty to ensure that MCT Heating Services 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 MCT Heating Services Ltd. You consider that MCT Heating Services 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 MCT Heating Services 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.

Neil Westwood & Co.

Chartered Accountants

101 Dixons Green Road

Dudley

West Midlands

DY2 7DJ

14th October 2020

FIXED ASSETS

Tangible assets

4

53,193

48,477

CURRENT ASSETS

Stocks

3,000

4,500

Debtors

5

77,773

137,699

Cash at bank

109,155

87,905

189,928

230,104

CREDITORS

Amounts falling due within one year

6

77,792

101,009

NET CURRENT ASSETS

112,136

129,095

TOTAL ASSETS LESS CURRENT LIABILITIES

165,329

177,572

CREDITORS

Amounts falling due after more than one year

7

(19,112

)

(10,646

)

PROVISIONS FOR LIABILITIES

(6,182

)

(9,112

)

NET ASSETS

140,035

157,814

CAPITAL AND RESERVES

Called up share capital

350

350

Retained earnings

139,685

157,464

SHAREHOLDERS' FUNDS

140,035

157,814

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14th October 2020 and were signed by:

M C Timmins - Director

1.	STATUTORY INFORMATION

MCT Heating Services 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 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

-

20% on reducing balance

Motor vehicles

-

25% 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 Statement of Income and Retained Earnings, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1st November 2018

8,484

88,753

-

97,237

Additions

-

21,650

583

22,233

At 31st October 2019

8,484

110,403

583

119,470

DEPRECIATION

At 1st November 2018

6,241

42,519

-

48,760

Charge for year

448

16,972

97

17,517

At 31st October 2019

6,689

59,491

97

66,277

NET BOOK VALUE

At 31st October 2019

1,795

50,912

486

53,193

At 31st October 2018

2,243

46,234

-

48,477

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

Motor

vehicles

£

COST

At 1st November 2018

71,453

Additions

21,650

At 31st October 2019

93,103

DEPRECIATION

At 1st November 2018

29,325

Charge for year

15,945

At 31st October 2019

45,270

NET BOOK VALUE

At 31st October 2019

47,833

At 31st October 2018

42,128

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

70,809

132,100

Other debtors

6,964

5,599

77,773

137,699

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

10,140

7,514

Trade creditors

51,424

61,742

Taxation and social security

13,733

29,671

Other creditors

2,495

2,082

77,792

101,009

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

19,112

10,646

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Hire purchase contracts

29,252

18,160

9.	ULTIMATE CONTROLLING PARTY

The controlling parties are the shareholders.