Smiths Heating Services Limited

SMITHS HEATING SERVICES LIMITED - Company Information

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Registered number: 06658288

Abbreviated accounts

For The Year Ended 31 March 2016

It Adds Up Limited

Smiths Heating Services Limited

Company No. 06658288

Abbreviated Balance Sheet 31 March 2016

Abbreviated Balance Sheet

		2016		2015
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	3		20,965		13,292

			20,965		13,292
CURRENT ASSETS
Debtors		19,006		15,264
Cash at bank and in hand		53,110		48,098

		72,116		63,362
Creditors: Amounts Falling Due Within One Year		(69,189 )		(65,228 )

NET CURRENT ASSETS (LIABILITIES)			2,927		(1,866 )

TOTAL ASSETS LESS CURRENT LIABILITIES			23,892		11,426

Creditors: Amounts Falling Due After More Than One Year	4		(10,917 )		(3,566 )

NET ASSETS			12,975		7,860

CAPITAL AND RESERVES
Called up share capital	5		100		100
Profit and Loss Account			12,875		7,760

SHAREHOLDERS' FUNDS			12,975		7,860

Smiths Heating Services Limited

Company No. 06658288

Abbreviated Balance Sheet (continued) 31 March 2016

For the year ending 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated 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 2015).

On behalf of the board

Mr Richard Smith	Mrs Lynne Smith
10th November 2016

Page 1

Smiths Heating Services Limited

Notes to the Abbreviated Accounts

For The Year Ended 31 March 2016

Notes to the Abbreviated Accounts

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.

1.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% written down value
Fixtures & Fittings	25% written down value
Office Equipment	25% written down value

1.5. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

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Smiths Heating Services Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 March 2016

2. Intangible Assets


	Total
Cost	£
As at 1 April 2015	25,000

As at 31 March 2016	25,000

Amortisation
As at 1 April 2015	25,000

As at 31 March 2016	25,000

Net Book Value
As at 31 March 2016	-

As at 1 April 2015	-

3. Tangible Assets


	Total
Cost	£
As at 1 April 2015	35,390
Additions	21,310
Disposals	(21,500 )

As at 31 March 2016	35,200

Depreciation
As at 1 April 2015	22,098
Provided during the period	6,834
Disposals	(14,697 )

As at 31 March 2016	14,235

Net Book Value
As at 31 March 2016	20,965

As at 1 April 2015	13,292

4. Creditors: Amounts Falling Due After More Than One Year

	2016	2015
	£	£
Net obligations under finance lease and hire purchase contracts	10,917	3,566

Page 3

Smiths Heating Services Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 March 2016

5. Share Capital

	Value	Number	2016	2015
Allotted, called up and fully paid	£		£	£
Ordinary shares	100.000	1	100	100

6. Transactions With and Loans to Directors

Dividends paid to directors

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