Martin Rowse Heating & Plumbing Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: SC441029 (Scotland)

Unaudited Financial Statements for the Year Ended 31 January 2017

for

Martin Rowse Heating & Plumbing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Rowse

REGISTERED OFFICE:

92 Clerk Street

Loanhead

Midlothian

EH20 9RB

REGISTERED NUMBER:

SC441029 (Scotland)

ACCOUNTANTS:

Bennett and Co

Chartered Accountants

25 Lanark Road

Edinburgh

EH14 1TG

FIXED ASSETS

Tangible assets

4

7,178

5,210

CURRENT ASSETS

Stocks

1,515

2,825

Debtors

5

21,589

13,148

Cash at bank and in hand

18,318

21,775

41,422

37,748

CREDITORS

Amounts falling due within one year

6

(37,869

)

(35,468

)

NET CURRENT ASSETS

3,553

2,280

TOTAL ASSETS LESS CURRENT LIABILITIES

10,731

7,490

PROVISIONS FOR LIABILITIES

7

(1,357

)

(1,042

)

NET ASSETS

9,374

6,448

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

9,373

6,447

SHAREHOLDERS' FUNDS

9,374

6,448

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 30 June 2017 and were signed by:

M Rowse - Director

1.	STATUTORY INFORMATION

Martin Rowse Heating & Plumbing Limited is a private company, limited by shares , registered in Scotland.

The company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

-

20% on cost

Motor vehicles

-

25% on reducing balance

Office equipment

-

20% on cost

Stocks

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

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted

or substantively enacted by the balance sheet date.

Deferred tax

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

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company is paying contributions to the director's personal pension scheme and are charged to the

company's profit and loss account for the year in which they are payable to the scheme.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Office

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2016

191

3,667

6,869

10,727

Additions

-

4,945

864

5,809

Disposals

-

(2,000

)

-

(2,000

)

At 31 January 2017

191

6,612

7,733

14,536

DEPRECIATION

At 1 February 2016

116

2,119

3,282

5,517

Charge for year

38

1,412

1,547

2,997

Eliminated on disposal

-

(1,156

)

-

(1,156

)

At 31 January 2017

154

2,375

4,829

7,358

NET BOOK VALUE

At 31 January 2017

37

4,237

2,904

7,178

At 31 January 2016

75

1,548

3,587

5,210

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Trade debtors

21,504

9,107

Other debtors

85

4,041

21,589

13,148

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Trade creditors

9,717

14,821

Corporation tax

15,021

11,973

Social security and other taxes

1,365

2,090

VAT

10,130

5,077

Other creditors

1,515

1,275

Director's loan account

121

232

37,869

35,468

7.	PROVISIONS FOR LIABILITIES

31.1.17

31.1.16

£

£

Deferred tax

1,357

1,042

Deferred

tax

£

Balance at 1 February 2016

1,042

Provided during year

315

Balance at 31 January 2017

1,357

8.	OTHER FINANCIAL COMMITMENTS

The company is committed to an annual property rent of £5,000 until 3 March 2018 and an annual vehicle

lease of £3,293 until 9 September 2017.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £58,250 (2016 - £73,250) were paid to the director.

The director was paid £600 (2016 - £600) for use of a room at home as an office.

10.	FIRST YEAR ADOPTION

There are no transitional adjustments in the first year of adoption of FRS 102 Section 1A as, in the director's

opinion, the amounts are not material.