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

REGISTERED NUMBER: 05966227 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2020

for

Mct Heating Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M C Timmins

SECRETARY:

Mrs C E Timmins

REGISTERED OFFICE:

10c Peckingham Street

Halesowen

West Midlands

B63 3AW

REGISTERED NUMBER:

05966227 (England and Wales)

ACCOUNTANTS:

Blythe Phillips

10C Peckingham Street

Halesowen

West Midlands

B63 3AW

FIXED ASSETS

Tangible assets

4

40,200

53,193

CURRENT ASSETS

Stocks

3,000

3,000

Debtors

5

80,676

77,773

Cash at bank

216,552

109,154

300,228

189,927

CREDITORS

Amounts falling due within one year

6

179,996

77,791

NET CURRENT ASSETS

120,232

112,136

TOTAL ASSETS LESS CURRENT LIABILITIES

160,432

165,329

CREDITORS

Amounts falling due after more than one year

7

(12,521

)

(19,112

)

PROVISIONS FOR LIABILITIES

(3,949

)

(6,182

)

NET ASSETS

143,962

140,035

CAPITAL AND RESERVES

Called up share capital

350

350

Retained earnings

143,612

139,685

143,962

140,035

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

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

The financial statements were approved by the director and authorised for issue on 10 August 2021 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.

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

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 5 (2019 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2019

119,470

Additions

432

At 31 October 2020

119,902

DEPRECIATION

At 1 November 2019

66,277

Charge for year

13,425

At 31 October 2020

79,702

NET BOOK VALUE

At 31 October 2020

40,200

At 31 October 2019

53,193

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

Plant and

machinery

etc

£

COST

At 1 November 2019

and 31 October 2020

93,103

DEPRECIATION

At 1 November 2019

45,270

Charge for year

11,958

At 31 October 2020

57,228

NET BOOK VALUE

At 31 October 2020

35,875

At 31 October 2019

47,833

5.

DEBTORS

31.10.20

31.10.19

£

£

Amounts falling due within one year:

Trade debtors

74,495

74,104

Other debtors

6,181

6,964

80,676

81,068

Amounts falling due after more than one year:

Trade debtors

-

(3,295

)

Aggregate amounts

80,676

77,773

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Hire purchase contracts

3,043

10,140

Trade creditors

54,877

51,423

Taxation and social security

47,303

13,733

Other creditors

74,773

2,495

179,996

77,791

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.20

31.10.19

£

£

Hire purchase contracts

12,521

19,112