Perfect Green Heating Limited - Limited company accounts 16.1

REGISTERED NUMBER: 07275815 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2015

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:

The West Wing

1, Glass Wharf

Temple Quay

Bristol

BS2 0EL

REGISTERED NUMBER:

07275815 (England and Wales)

ACCOUNTANTS:

Create Accountancy Solutions Limited

The West Wing

I Glass Wharf

Bristol

BS2 0EL

The directors present their report with the financial statements of the company for the year ended 31 December 2015.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2015 to the date of this

report.

W Cogley

Perfect Green Group LTD

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to

small companies.

ON BEHALF OF THE BOARD:

W Cogley - Director

20 October 2016

TURNOVER

548,296

580,667

Cost of sales

422,686

510,624

GROSS PROFIT

125,610

70,043

Distribution costs

-

(1,865

)

Administrative expenses

312,663

205,668

312,663

203,803

OPERATING LOSS

2

(187,053

)

(133,760

)

Interest payable and similar charges

1,119

-

LOSS ON ORDINARY ACTIVITIES BEFORE
TAXATION

(188,172

)

(133,760

)

Tax on loss on ordinary activities

3

(5,277

)

-

LOSS FOR THE FINANCIAL YEAR

(182,895

)

(133,760

)

FIXED ASSETS

Tangible assets

5

156

1,888

CURRENT ASSETS

Stocks

116,135

64,952

Debtors

6

7,482

32,188

Prepayments and accrued income

-

415

Cash at bank

20,943

5,071

144,560

102,626

CREDITORS

Amounts falling due within one year

7

698,743

475,646

NET CURRENT LIABILITIES

(554,183

)

(373,020

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(554,027

)

(371,132

)

CAPITAL AND RESERVES

Called up share capital

8

100

Profit and loss account

9

(554,127

)

(371,232

)

SHAREHOLDERS' FUNDS

(554,027

)

(371,132

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the Board of Directors on 20 October 2016 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 January 2015).

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

-

33% 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:

31.12.15

31.12.14

£

Depreciation - owned assets

1,732

1,312

Directors' remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax credit

The tax credit on the loss on ordinary activities for the year was as follows:

31.12.15

31.12.14

£

Current tax:

UK corporation tax

(5,277

)

-

Tax on loss on ordinary activities

(5,277

)

-

4.

DIVIDENDS

31.12.15

31.12.14

£

Ordinary shares of 1 each

Interim

-

8,577

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2015

and 31 December 2015

5,249

DEPRECIATION

At 1 January 2015

3,361

Charge for year

1,732

At 31 December 2015

5,093

NET BOOK VALUE

At 31 December 2015

156

At 31 December 2014

1,888

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.15

31.12.14

£

Trade debtors

4,733

(11,849

)

Amounts owed by group undertakings

2,749

2,729

Other debtors

-

41,308

7,482

32,188

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.15

31.12.14

£

Trade creditors

149,789

90,487

Amounts owed to group undertakings

89,689

58,447

Taxation and social security

40,903

18,634

Other creditors

418,362

308,078

698,743

475,646

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

100

Ordinary

1

100

9.

RESERVES

Profit

and loss

account

£

At 1 January 2015

(371,232

)

Deficit for the year

(182,895

)

At 31 December 2015

(554,127

)

10.	ULTIMATE PARENT COMPANY

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

11.	RELATED PARTY DISCLOSURES

As at the balance sheet date the company owed £88,453 to Perfect Green Solar Limited, a company under

common control.

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

Limited. Omni Consult introduced £308,136 of working capital in the period.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Perfect Green Group LTD.