Perfect Green Heating Limited - Limited company accounts 11.7

REGISTERED NUMBER: 07275815 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2014

for

Perfect Green Heating Limited

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

W Cogley

Perfect Green Group LTD

REGISTERED OFFICE:

Hollywood Estate

Hollywood Lane

Bristol

BS10 7TW

REGISTERED NUMBER:

07275815 (England and Wales)

ACCOUNTANTS:

Create Accountancy Solutions Limited

The West Wing

I Glass Wharf

Temple Quay

Bristol

BS2 0EL

The directors present their report with the financial statements of the company for the year ended 31 December 2014.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2014 to the

date of this report.

W Cogley

Perfect Green Group LTD

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act

2006 relating to small companies.

ON BEHALF OF THE BOARD:

W Cogley - Director

30 September 2015

TURNOVER

580,667

492,604

Cost of sales

510,624

486,477

GROSS PROFIT

70,043

6,127

Distribution costs

(1,865

)

-

Administrative expenses

205,668

236,323

203,803

236,323

(133,760

)

(230,196

)

Other operating income

-

1,380

OPERATING LOSS and

LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION

2

(133,760

)

(228,816

)

Tax on loss on ordinary activities

3

-

-

LOSS FOR THE FINANCIAL YEAR

(133,760

)

(228,816

)

FIXED ASSETS

Tangible assets

5

1,888

3,200

CURRENT ASSETS

Stocks

64,952

74,807

Debtors

6

32,188

73,593

Prepayments and accrued income

415

415

Cash at bank

5,071

501

102,626

149,316

CREDITORS

Amounts falling due within one year

7

475,646

381,311

NET CURRENT LIABILITIES

(373,020

)

(231,995

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(371,132

)

(228,795

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Profit and loss account

9

(371,232

)

(228,895

)

SHAREHOLDERS' FUNDS

(371,132

)

(228,795

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 30 September 2015 and were signed on its behalf by:

W Cogley - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on the going concern basis. The company is dependant on the

ongoing support of it's directors and parent company.

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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 etc

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

2.	OPERATING LOSS

The operating loss is stated after charging:

31.12.14

31.12.13

£

£

Depreciation - owned assets

1,312

1,313

Directors' remuneration and other benefits etc

-

-

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 31 December 2014

nor for the year ended 31 December 2013.

4.

DIVIDENDS

31.12.14

31.12.13

£

£

Ordinary shares of 1 each

Interim

8,577

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2014

and 31 December 2014

5,249

DEPRECIATION

At 1 January 2014

2,049

Charge for year

1,312

At 31 December 2014

3,361

NET BOOK VALUE

At 31 December 2014

1,888

At 31 December 2013

3,200

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.14

31.12.13

£

£

Trade debtors

(11,849

)

-

Amounts owed by group undertakings

2,729

1,496

Other debtors

41,308

72,097

32,188

73,593

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.14

31.12.13

£

£

Trade creditors

90,487

49,567

Amounts owed to group undertakings

58,447

52,856

Taxation and social security

18,634

34,163

Other creditors

308,078

244,725

475,646

381,311

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

£

100

Ordinary

1

100

100

9.

RESERVES

Profit

and loss

account

£

At 1 January 2014

(228,895

)

Deficit for the year

(133,760

)

Dividends

(8,577

)

At 31 December 2014

(371,232

)

10.	ULTIMATE PARENT COMPANY

Omni Consult Limited is regarded by the directors as being the company's ultimate parent

company.

11.	RELATED PARTY DISCLOSURES

During the year Perfect Green Limited paid for accountancy fees on behalf of Built Environment

Solutions, PG Solar Ltd, PG Power Ltd and Perfect Green Group Limited, companies under

common control. At the year end the company was owed £1,016 from Built Environment Solutions,

£150 from Perfect Green Group and £480 from PG Power.

As at the balance sheet date the company owed £400 to Perfect Green Solar Limited, a company

under common control.

During the year the company maintained a loan account with it's Ultimate Parent company Omni

Consult Limited. Omni Consult introduced £262,568 of working capital in the period.

During the year the company also maintained a loan account with Create Group Holdings Limited.

Create Group Holdings Limited is a related party by virtue of its director's shareholding in Omni

Consult Limited, the Ultimate Parent company of Perfect Green Group Limited. At the year end the

company owed £1,767 to Create Group Holdings.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Perfect Green Group LTD.