Heat Industrial Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03293797 (England and Wales)

Financial Statements

for the Year Ended 31 May 2017

for

Heat Industrial Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J D Peters

P D Pollington

N J Peters

M J Pollington

SECRETARY:

J D Peters

REGISTERED OFFICE:

Unit 2, Fairview Estate

Beech Road

High Wycombe

Buckinghamshire

HP11 1RY

REGISTERED NUMBER:

03293797 (England and Wales)

ACCOUNTANTS:

J W Ridgeway & Co

Chartered Accountants

106a High Street

Chesham

Buckinghamshire

HP5 1EB

FIXED ASSETS

Tangible assets

4

16,081

11,932

CURRENT ASSETS

Stocks

3,000

3,000

Debtors

5

39,554

53,436

Cash at bank and in hand

20,715

12,280

63,269

68,716

CREDITORS

Amounts falling due within one year

6

28,970

41,552

NET CURRENT ASSETS

34,299

27,164

TOTAL ASSETS LESS CURRENT LIABILITIES

50,380

39,096

CREDITORS

Amounts falling due after more than one year

7

37,989

41,689

NET ASSETS/(LIABILITIES)

12,391

(2,593

)

CAPITAL AND RESERVES

Called up share capital

350

350

Capital redemption reserve

300

300

Retained earnings

11,741

(3,243

)

SHAREHOLDERS' FUNDS

9

12,391

(2,593

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 18 August 2017 and were signed on its behalf by:

N J Peters - Director

M J Pollington - Director

1.	STATUTORY INFORMATION

Heat Industrial 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.

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.

Improvements to property

-

not provided

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% 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 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 operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2016 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 June 2016

3,942

21,035

73,253

11,991

110,221

Additions

-

-

8,495

-

8,495

Disposals

-

-

(2,100

)

-

(2,100

)

At 31 May 2017

3,942

21,035

79,648

11,991

116,616

DEPRECIATION

At 1 June 2016

-

21,035

65,263

11,991

98,289

Charge for year

-

-

4,346

-

4,346

Eliminated on disposal

-

-

(2,100

)

-

(2,100

)

At 31 May 2017

-

21,035

67,509

11,991

100,535

NET BOOK VALUE

At 31 May 2017

3,942

-

12,139

-

16,081

At 31 May 2016

3,942

-

7,990

-

11,932

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

28,734

45,533

Prepayments and accrued income

10,820

7,903

39,554

53,436

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

417

2,917

Trade creditors

9,375

22,733

Social security and other taxes

6,287

4,416

VAT

7,620

5,587

Other creditors

-

474

Accrued expenses

5,271

5,425

28,970

41,552

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Loan

37,989

41,689

8.	RELATED PARTY DISCLOSURES

The company occupies a property owned by Parkside Investments (Beaconsfield) Ltd. J D Peters and

N J Peters are directors of both companies. They both hold shares of Parkside Investments

(Beaconsfield) Ltd At the balance sheet date a loan of £37,989 (2015 £41,689) was due to Parkside

Investments (Beaconsfield) Ltd.

9.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

2017

2016

£

£

Profit/(loss) for the financial year

18,484

(8,856

)

Dividends

(3,500

)

-

Net addition/(reduction) to shareholders' funds

14,984

(8,856

)

Opening shareholders' funds

(2,593

)

-

Closing shareholders' funds

12,391

(8,856

)

**

TOTAL OF CLOSING SHAREHOLDERS' FUNDS FOR LAST YEAR AS SHOWN HERE

(8,856

)

DOES NOT AGREE TO TOTAL PER BALANCE SHEET

(2,593

)

PLEASE CHECK CLIENT SCREEN - NOTES TO FINANCIAL STATEMENTS - MOVEMENTS IN

SHAREHOLDERS' FUNDS