APF Heating And Mechanical Services Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: SC406670 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2016

FOR

APF HEATING AND MECHANICAL SERVICES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

K G Duncan

K Paterson

REGISTERED OFFICE:

4 Parade Spur North

Pinefield

Elgin

Morayshire

IV30 6AL

REGISTERED NUMBER:

SC406670 (Scotland)

ACCOUNTANTS:

Consilium Chartered Accountants

169 West George Street

Glasgow

G2 2LB

FIXED ASSETS

Tangible assets

2

11,104

17,821

CURRENT ASSETS

Stocks

23,221

475

Debtors

19,517

6,851

Cash at bank and in hand

12,764

2,056

55,502

9,382

CREDITORS

Amounts falling due within one year

3

51,562

49,950

NET CURRENT ASSETS/(LIABILITIES)

3,940

(40,568

)

TOTAL ASSETS LESS CURRENT LIABILITIES

15,044

(22,747

)

CREDITORS

Amounts falling due after more than one year

3

-

(2,692

)

PROVISIONS FOR LIABILITIES

(1,737

)

-

NET ASSETS/(LIABILITIES)

13,307

(25,439

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

13,207

(25,539

)

SHAREHOLDERS' FUNDS

13,307

(25,439

)

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 June 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 19 June 2017 and were signed on its behalf by:

K G Duncan - Director

K Paterson - 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).

Exemption from preparing a cash flow statement

The Company has adopted the Financial Reporting Standard for Smaller Entities (effective January 2015) and is

consequently exempt from the requirement to include a cash flow statement in the financial statements.

Turnover

The turnover shown in the profit and loss account represents the value of services delivered at a selling price exclusive of

Value Added Tax. Sales are recognised at the point at which the Company has fulfilled its contractual obligations to the

customer.

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 - 25% reducing balance

Motor vehicles - 25% reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental costs

of acquisition.

Stocks

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

items. Cost is calculated using the first-in first-out method and consists of parts and consumables.

Work in progress

Work in progress is valued on the basis of direct material and labour costs plus attributable overheads based on a normal

level of activity.

Deferred tax

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

date where transactions or events have occurred at that date that will result in an obligation to pay more tax, or a right to

pay less tax, or a right to receive repayments of tax.

Deferred tax assets are recognised only to the extent that the directors consider it more likely than not that there will be

suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax

assets and liabilities recognised have not been discounted.

Deferred tax is measured on a non-discounted basis at the average tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Hire purchase commitments

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value, and

are depreciated in accordance with the above depreciation policies.

Future instalments payable under such agreements, net of finance charges, are included within creditors.

Financial instruments

Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments,

according to the substance of the contractual arrangement.

Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at

principal capital amounts outstanding at the year end. Issue costs relating to financial liabilities are deducted from the

outstanding balance and are amortised over the period to the due date for repayment of the financial liability.

An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of

its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated

financial instrument.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

35,155

Disposals

(7,200

)

At 30 June 2016

27,955

DEPRECIATION

At 1 July 2015

17,334

Charge for year

4,329

Eliminated on disposal

(4,812

)

At 30 June 2016

16,851

NET BOOK VALUE

At 30 June 2016

11,104

At 30 June 2015

17,821

3.

CREDITORS

Creditors include an amount of £ 2,693 (2015 - £ 9,073 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

45

Ordinary A

£1

45

45

45

Ordinary B

£1

45

45

5

Ordinary C

£1

5

5

5

Ordinary D

£1

5

5

100

100

Each share in the Company shall carry the right to receive notice of and to attend, speak and vote at all general meetings of

the Company;

Any payment of dividends may be declared in respect of one class of shares and not another, and may be declared at

different rates on different classes of shares in issue;

On a return of assets on liquidation, capital reduction or otherwise, the assets of the Company remaining after the payment

of the Companies liabilities shall be distributed among the holders of the equity shares pro-rata to the number of equity

shares held, as if they all constituted shares of the same class.