Tower Heating Ltd. - Abbreviated accounts 16.3

REGISTERED NUMBER: 05292661 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

TOWER HEATING LTD.

Page

Company information

1

Chartered accountants' report

2

Abbreviated balance sheet

3

Notes to the abbreviated accounts

5

Directors:

N A Tomlinson

G A Tomlinson

S N Tomlinson

Secretary:

N A Tomlinson

Registered office:

47a Liverpool Road

Formby

Liverpool

Merseyside

L37 6BT

Registered number:

05292661 (England and Wales)

Accountants:

Moore and Smalley C.A. Limited

Chartered Accountants

Hoghton Chambers

Hoghton Street

Southport

PR9 0TB

The following reproduces the text of the report prepared for the directors in respect of the Company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages three to seven) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Tower Heating Ltd. for the year ended 30 September 2016 which comprise the

Profit and loss account, the Balance sheet and the related notes from the Company's accounting records and

from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Tower Heating Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tower Heating Ltd. and state those matters that we have agreed to state to the Board of Directors of Tower Heating Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tower Heating Ltd. Board of Directors, as a body, for our work or for this report.

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

Moore and Smalley C.A. Limited

Chartered Accountants

Hoghton Chambers

Hoghton Street

Southport

PR9 0TB

13 March 2017

Fixed assets

Intangible assets

2

13,033

17,378

Tangible assets

3

53,932

31,524

66,965

48,902

Current assets

Stocks

3,000

2,987

Debtors

36,186

21,206

Cash at bank and in hand

76,775

121,515

115,961

145,708

Creditors

Amounts falling due within one year

4

98,505

109,758

Net current assets

17,456

35,950

Total assets less current liabilities

84,421

84,852

Creditors

Amounts falling due after more than one
year

4

(11,224

)

(5,478

)

Provisions for liabilities

(10,376

)

(5,804

)

Net assets

62,821

73,570

Capital and reserves

Called up share capital

5

100

Profit and loss account

62,721

73,470

Shareholders' funds

62,821

73,570

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 September 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 13 March 2017 and were signed on its
behalf by:

G A Tomlinson - 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 is the amount derived from ordinary activities, and is stated after trade discounts and net of

VAT.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% reducing balance

Fixtures and fittings

-

15% reducing balance

Motor vehicles

-

20% reducing balance

Computer equipment

-

3 years straight line

Stocks

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

obsolete and slow moving items.

Deferred tax

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

the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

2.	Intangible fixed assets

Total

£

Cost

At 1 October 2015

and 30 September 2016

21,723

Amortisation

At 1 October 2015

4,345

Amortisation for year

4,345

At 30 September 2016

8,690

Net book value

At 30 September 2016

13,033

At 30 September 2015

17,378

3.	Tangible fixed assets

Total

£

Cost

At 1 October 2015

36,097

Additions

31,638

Disposals

(31

)

At 30 September 2016

67,704

Depreciation

At 1 October 2015

4,573

Charge for year

9,205

Eliminated on disposal

(6

)

At 30 September 2016

13,772

Net book value

At 30 September 2016

53,932

At 30 September 2015

31,524

4.

Creditors

Creditors include an amount of £ 19,377 (2015 - £ 8,336 ) for which security has been given.

5.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

6.	Directors' advances, credits and guarantees

On 30th September 2016 the company was owed £10,000 by Mr G A Tomlinson and £10,000 by Mr S

N Tomlinson. Both individuals are directors in the company.