Gaswise Heating Services Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 06787622 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Gaswise Heating Services Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

D Read

Mrs M Read

REGISTERED OFFICE:

Unit 20 Cleethorpes Business Centre

Wilton Road Industrial Estate

Grimsby

N E Lincolnshire

DN36 4AS

REGISTERED NUMBER:

06787622 (England and Wales)

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

14,011

17,945

14,011

17,945

CURRENT ASSETS

Stocks

47,525

25,305

Debtors

83,122

77,542

130,647

102,847

CREDITORS

Amounts falling due within one year

144,295

119,379

NET CURRENT LIABILITIES

(13,648

)

(16,532

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

363

1,413

CAPITAL AND RESERVES

Called up share capital

4

200

Profit and loss account

163

1,213

SHAREHOLDERS' FUNDS

363

1,413

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 December 2016 and were signed on its behalf
by:

D Read - Director

1.	ACCOUNTING POLICIES

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

17,500

AMORTISATION

At 1 April 2015

and 31 March 2016

17,500

NET BOOK VALUE

At 31 March 2016

-

At 31 March 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

47,428

DEPRECIATION

At 1 April 2015

29,483

Charge for year

3,934

At 31 March 2016

33,417

NET BOOK VALUE

At 31 March 2016

14,011

At 31 March 2015

17,945

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

100

Ordinary

£1

100

Ordinary A

£1

100

200