Halesowen Gas Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05418020 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2020

for

Halesowen Gas Services Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

6,899

-

Tangible assets

5

22,454

13,954

29,353

13,954

CURRENT ASSETS

Stocks

7,500

7,500

Debtors

6

88,226

32,487

Cash at bank

35,595

20,182

131,321

60,169

CREDITORS

Amounts falling due within one year

7

137,148

53,216

NET CURRENT (LIABILITIES)/ASSETS

(5,827

)

6,953

TOTAL ASSETS LESS CURRENT LIABILITIES

23,526

20,907

CREDITORS

Amounts falling due after more than one year

8

(487

)

(3,301

)

PROVISIONS FOR LIABILITIES

(4,266

)

(2,651

)

NET ASSETS

18,773

14,955

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

18,771

14,953

SHAREHOLDERS' FUNDS

18,773

14,955

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 May 2021 and were signed by:

Mr C J Wheawall - Director

1.	STATUTORY INFORMATION

Halesowen Gas Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05418020

Registered office:

Ebenezer House

Ryecroft

Newcastle-Under-Lyme

Staffordshire

ST5 2BE

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.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, given the impact of the Coronavirus upon the economy and therefore the financial statements have been prepared on a going concern basis.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax. Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced on service contracts.

Goodwill

Goodwill has been fully amortised over its estimated useful life.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 Profit and Loss Account, 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 7 (2019 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

software

Totals

£

£

£

COST

At 1 October 2019

70,000

-

70,000

Additions

-

8,870

8,870

At 30 September 2020

70,000

8,870

78,870

AMORTISATION

At 1 October 2019

70,000

-

70,000

Amortisation for year

-

1,971

1,971

At 30 September 2020

70,000

1,971

71,971

NET BOOK VALUE

At 30 September 2020

-

6,899

6,899

At 30 September 2019

-

-

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 October 2019

13,408

45,259

58,667

Additions

-

15,985

15,985

At 30 September 2020

13,408

61,244

74,652

DEPRECIATION

At 1 October 2019

13,317

31,396

44,713

Charge for year

23

7,462

7,485

At 30 September 2020

13,340

38,858

52,198

NET BOOK VALUE

At 30 September 2020

68

22,386

22,454

At 30 September 2019

91

13,863

13,954

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

Motor

vehicles

£

COST

At 1 October 2019

and 30 September 2020

13,290

DEPRECIATION

At 1 October 2019

5,815

Charge for year

1,869

At 30 September 2020

7,684

NET BOOK VALUE

At 30 September 2020

5,606

At 30 September 2019

7,475

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

64,111

27,845

Amounts owed by group undertakings

15,000

-

Other debtors

9,115

4,642

88,226

32,487

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts (see note 9)

2,814

4,023

Trade creditors

47,096

-

Amounts owed to group undertakings

30,000

10,000

Taxation and social security

41,701

17,052

Other creditors

15,537

22,141

137,148

53,216

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts (see note 9)

487

3,301

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2020

2019

£

£

Net obligations repayable:

Within one year

2,814

4,023

Between one and five years

487

3,301

3,301

7,324

Non-cancellable operating

leases

2020

2019

£

£

Within one year

13,500

13,500

10.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Hire purchase contracts

3,301

7,324

Any hire purchase liabilities are secured against the assets to which they are financed against.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Funding Innovation Limited.

The registered office address of this company is 33 Greenbox Westonhall Road, Stoke Prior, Bromsgrove, Worcestershire, England, B60 4AL