Heat Treatment 2000 Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 02714973 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2017

for

HEAT TREATMENT 2000 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P H J Barber

P J W Handley

S G Handley

A J Ordidge

REGISTERED OFFICE:

Bull Lane Works

Brandon Way

West Bromwich

West Midlands

B70 9PQ

REGISTERED NUMBER:

02714973 (England and Wales)

ACCOUNTANTS:

Bakers

(The practising name of

Baker (Midlands) Limited)

Arbor House

Broadway North

Walsall

WS1 2AN

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

300

300

300

300

CURRENT ASSETS

Debtors

6

1,157,590

1,125,661

Cash at bank and in hand

304,427

131,434

1,462,017

1,257,095

CREDITORS

Amounts falling due within one year

7

597,215

549,813

NET CURRENT ASSETS

864,802

707,282

TOTAL ASSETS LESS CURRENT LIABILITIES

865,102

707,582

CAPITAL AND RESERVES

Called up share capital

8

84,290

84,290

Share premium

223,033

223,033

Capital redemption reserve

14,049

14,049

Retained earnings

543,730

386,210

SHAREHOLDERS' FUNDS

865,102

707,582

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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 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 Board of Directors on 24th October 2017 and were signed on its behalf by:

P J W Handley - Director

P H J Barber - Director

1.	STATUTORY INFORMATION

Heat Treatment 2000 Limited is a private company, limited by shares , registered in England and Wales. The

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

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Heat Treatment 2000 Limited as an individual company and

do not contain consolidated financial information as the parent of a group. The company has taken the option

under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and

assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the

amounts reported for revenues and expenses during the year. However the nature of estimation means that

actual outcomes could differ from those estimates.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade

discounts.The policy adopted for the recognition of turnover is as follows:

Sale of Goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods

have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the

economic benefits associated with the transaction will flow to the company and the costs incurred or to be

incurred in respect of the transaction can be measured reliably . This is usually on the dispatch of goods.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated

residual value, of each asset on a systematic basis over its expected useful life as follows:

Motor vehicles - at varying rates of cost

The directors perform annual impairment reviews to ensure that the recoverable amount is higher than the

carrying value.

Investments in associates

Investments are recognised initially at fair value which is normally the transaction price excluding transaction

costs. Subsequently, they are measured at fair value through profit or loss if their fair value can otherwise be

measured reliably.

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 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.

Operating lease commitments

Rentals paid under operating leases are charged against profits as incurred.

Employee benefits

The company provides a range of benefits to employees, including annual bonus arrangements and defined

contribution pension plans.

i. Short term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an

expense in the period in which the service is received.

ii. Defined contribution pension plans

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension

plan under which the company pays fixed contributions into a separate entity. Once the contributions have

been paid the company has no further payment obligations. The contributions are recognised as an expense

when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are

held separately from the company in independently administered funds.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price.Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past

event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be

reliably estimated.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each

balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating

unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable

amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount

where the impairment loss is a revaluation decrease.

Cash and cash equivalents

Cash comprises cash in hand and demand deposits. Cash equivalents are short-term, highly liquid investments

that mature in no more than three months from the date of acquisition and that are readily convertible to

known amounts of cash with an insignificant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2016 - 37 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1st April 2016

and 31st March 2017

142,887

DEPRECIATION

At 1st April 2016

and 31st March 2017

142,887

NET BOOK VALUE

At 31st March 2017

-

At 31st March 2016

-

5.	FIXED ASSET INVESTMENTS

Investment

in

subsidiary

under

takings

£

COST

At 1st April 2016

and 31st March 2017

300

NET BOOK VALUE

At 31st March 2017

300

At 31st March 2016

300

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,139,549

956,861

Other debtors

18,041

168,800

1,157,590

1,125,661

Included in Other Debtors are prepayments of £18,041. (2016 £27,896)

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

159,547

124,368

Taxation and social security

172,189

82,700

Other creditors

265,479

342,745

597,215

549,813

Included in Other Creditors are accruals of £248,077. (2016 £339,679)

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

84,290

£1 ordinary

£1

84,290

84,290

9.	CONTINGENT LIABILITIES

The company is party to an unlimited interlocking guarantee in respect of bank borrowings of Electro Heat

Treatments Limited. At 31st March 2017 the indebtedness amounted to £nil.

10.	FINANCIAL COMMITMENTS

Total financial commitments under non-cancellable operating leases which are not included in the balance

sheet amount to £104,628.(2016 £135,185 ).

11.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102. The last financial statements

prepared under the previous UK GAAP were for the year ended 31 March 2016. The date of transition to FRS

102 was 1 January 2015.

The change to new UK GAAP has had no material impact upon either the profit and loss account or the balance

sheet in the current or comparative year and accordingly no reconciliation has been provided.