Andy South Heating Engineer Ltd - Period Ending 2015-03-31

Registration number: 07160438

Andy South Heating Engineer Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2015
 

Andy South Heating Engineer Ltd
Contents

Company Information 1

Director's Report 2

Accountants' Report 3

Profit and Loss Account 4

Balance Sheet 5

Notes to the Financial Statements 6 to 9

Andy South Heating Engineer Ltd
Company Information

Director

Mr Andy South

Company secretary

Britannia Accountancy & Tax Services Ltd

Registered office

Lees Lane Gosport Hants Lees Lane Gosport PO12 3UL

Accountants

Britannia Accountancy & Tax Services Ltd Unit A66 The Sanderson Centre Lees Lane Gosport Hampshire PO12 3UL

Page 1

Andy South Heating Engineer Ltd
Director's Report for the Year Ended 31 March 2015

The director presents his report and the unaudited financial statements for the year ended 31 March 2015.

Director of the company

The director who held office during the year was as follows:

Mr Andy South

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 22 December 2015 and signed on its behalf by:

.........................................
Mr Andy South
Director

Page 2

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Andy South Heating Engineer Ltd
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Andy South Heating Engineer Ltd for the year ended 31 March 2015 set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Andy South Heating Engineer Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Andy South Heating Engineer Ltd and state those matters that we have agreed to state to them, as a body, in this report. . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Andy South Heating Engineer Ltd and its Board of Directors as a body for our work or for this report. To the best of our knowledge at the time of preparation; all information contained in this report is accurate, based upon the information and representations made to us by Andy South Heating Engineer Ltd.

It is your duty to ensure that Andy South Heating Engineer Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Andy South Heating Engineer Ltd. You consider that Andy South Heating Engineer 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 accounts of Andy South Heating Engineer 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 accounts.

......................................

Britannia Accountancy & Tax Services Ltd
Unit A66
The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

22 December 2015

Page 3

Andy South Heating Engineer Ltd
Profit and Loss Account for the Year Ended 31 March 2015

		Note			2015 £			2014 £
Turnover					72,369			80,513
Cost of sales					(40,452)			(44,962)
Gross profit					31,917			35,551
Administrative expenses					(29,529)			(28,881)
Operating profit		2			2,388			6,670
Interest payable and similar charges					(1,984)			(2,784)
Profit on ordinary activities before taxation					404			3,886
Profit for the financial year		10			404			3,886

The notes on pages 6 to 9 form an integral part of these financial statements.
Page 4

Andy South Heating Engineer Ltd
(Registration number: 07160438)
Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets		4			24,000			28,800
Tangible fixed assets		5			4,805			5,859
					28,805			34,659
Current assets
Stocks					4,750			14,750
Debtors		6			-			1,193
Cash at bank and in hand					87			1,712
					4,837			17,655
Creditors: Amounts falling due within one year		7			(38,974)			(52,300)
Net current liabilities					(34,137)			(34,645)
Net (liabilities)/assets					(5,332)			14
Capital and reserves
Called up share capital		8			1			1
Profit and loss account		10			(5,333)			13
Shareholders' (deficit)/funds					(5,332)			14

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised for issue by the director on 22 December 2015

.........................................
Mr Andy South
Director

The notes on pages 6 to 9 form an integral part of these financial statements.
Page 5

Andy South Heating Engineer Ltd
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

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 amounts chargeable in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% on cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	18% of Net book value.
Office Equipment	18% of Net book value.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 6

Andy South Heating Engineer Ltd
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued

2	Operating profit

Operating profit is stated after charging:

		2015 £			2014 £
Depreciation of tangible fixed assets		1,054			1,285
Amortisation		4,800			4,800

3	Director's remuneration

The director's remuneration for the year was as follows:

		2015 £			2014 £
Remuneration		7,920			7,680

4	Intangible fixed assets

		Goodwill £			Total £
Cost
At 1 April 2014		48,000			48,000
At 31 March 2015		48,000			48,000
Amortisation
At 1 April 2014		19,200			19,200
Charge for the year		4,800			4,800
At 31 March 2015		24,000			24,000
Net book value
At 31 March 2015		24,000			24,000
At 31 March 2014		28,800			28,800

Page 7

Andy South Heating Engineer Ltd
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued

5	Tangible fixed assets

		Plant and machinery £			Office equipment £			Total £
Cost or valuation
At 1 April 2014		11,501			2,110			13,611
Depreciation
At 1 April 2014		6,551			1,201			7,752
Charge for the year		891			163			1,054
At 31 March 2015		7,442			1,364			8,806
Net book value
At 31 March 2015		4,059			746			4,805
At 31 March 2014		4,950			909			5,859

6

Debtors

		2015 £			2014 £
Trade debtors		-			1,193

7	Creditors: Amounts falling due within one year

		2015 £			2014 £
Trade creditors		5,511			6,310
Other creditors		33,463			45,990
		38,974			52,300

8	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Share of £1 each		1			1			1			1

Page 8

Andy South Heating Engineer Ltd
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued

9

Dividends

		2015 £			2014 £
Dividends paid
Current year interim dividend paid		5,750			5,750

10

Reserves

		Profit and loss account £			Total £
At 1 April 2014		13			13
Profit for the year		404			404
Dividends		(5,750)			(5,750)
At 31 March 2015		(5,333)			(5,333)

11

Control

The company is controlled by the director who owns 100% of the called up share capital.

Page 9