Elite Heat Solutions (UK) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 10252866 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 27TH JUNE 2016 TO 31ST MARCH 2017

FOR

ELITE HEAT SOLUTIONS (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J P Bacon

T A Hatton

H Karkar

D J Smith

REGISTERED OFFICE:

4 Grange Road

Southwick

East Sussex

BN42 4DQ

REGISTERED NUMBER:

10252866 (England and Wales)

ACCOUNTANTS:

Parkers

Cornelius House

178-180 Church Road

Hove

East Sussex

BN3 2DJ

FIXED ASSETS

Investments

4

3

CURRENT ASSETS

Stocks

5

31,941

Debtors

6

724,503

Cash at bank

6,729

763,173

CREDITORS

Amounts falling due within one year

7

744,611

NET CURRENT ASSETS

18,562

TOTAL ASSETS LESS CURRENT LIABILITIES

18,565

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

18,465

SHAREHOLDERS' FUNDS

18,565

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

The members have not required the company to obtain an audit of its financial statements for the period 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 5th October 2017 and were signed on its behalf by:

J P Bacon - Director

1.	STATUTORY INFORMATION

Elite Heat Solutions (UK) 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.

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.

Significant judgements and estimates

No significant judgements have had to be made by the directors in preparing these financial

statements.

Turnover

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

rebates, value added tax and other sales taxes.

Investments in associates

Investments in associate undertakings are recognised at cost.

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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable, loans from banks

and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an

impairment loss is recognised in profit or loss.

Taxation

Taxation for the period 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 period 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.

Impairment of non-financial assets

Stock is assessed for impairment at each reporting date. The carrying amount of each item of stock, or

group of similar items, is compared with its selling price less costs to complete and sell. If an item of

stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to

complete and sell, and an impairment loss is recognised immediately in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 .

4.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

Additions

3

At 31st March 2017

3

NET BOOK VALUE

At 31st March 2017

3

5.

STOCKS

£

Stocks

20,741

Work-in-progress

11,200

31,941

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

346,270

Amounts owed by group undertakings

311,237

Other debtors

8,089

VAT

58,807

Called up share capital not paid

100

724,503

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

648,801

Tax

4,616

Social security and other taxes

8,213

Other creditors

76,991

Accrued expenses

5,990

744,611

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 were issued during the period for cash of £ 100 .