MCT Heating Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05966227 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st October 2017

for

MCT Heating Services Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

M C Timmins

SECRETARY:

Mrs C E Timmins

REGISTERED OFFICE:

101 Dixons Green Road

Dudley

West Midlands

DY2 7DJ

REGISTERED NUMBER:

05966227 (England and Wales)

ACCOUNTANTS:

Neil Westwood & Co.

Chartered Accountants

101 Dixons Green Road

Dudley

West Midlands

DY2 7DJ

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Director are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of MCT Heating Services Ltd for the year ended 31st October 2017 which

comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of MCT Heating Services Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MCT Heating Services Ltd and state those matters that we have agreed to state to the director of MCT Heating Services Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MCT Heating Services Ltd and its director for our work or for this report.

It is your duty to ensure that MCT Heating Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MCT Heating Services Ltd. You consider that MCT Heating Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MCT Heating Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Neil Westwood & Co.

Chartered Accountants

101 Dixons Green Road

Dudley

West Midlands

DY2 7DJ

18th July 2018

FIXED ASSETS

Tangible assets

4

54,144

32,825

CURRENT ASSETS

Stocks

4,500

3,300

Debtors

5

135,502

85,028

Cash at bank

62,409

67,335

202,411

155,663

CREDITORS

Amounts falling due within one year

6

85,586

55,347

NET CURRENT ASSETS

116,825

100,316

TOTAL ASSETS LESS CURRENT LIABILITIES

170,969

133,141

CREDITORS

Amounts falling due after more than one year

7

(17,743

)

(7,297

)

PROVISIONS FOR LIABILITIES

(10,180

)

(6,442

)

NET ASSETS

143,046

119,402

CAPITAL AND RESERVES

Called up share capital

350

350

Retained earnings

142,696

119,052

SHAREHOLDERS' FUNDS

143,046

119,402

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 18th July 2018 and were signed by:

M C Timmins - Director

1.	STATUTORY INFORMATION

MCT Heating Services Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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 .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st November 2016

7,094

45,878

52,972

Additions

1,390

32,882

34,272

At 31st October 2017

8,484

78,760

87,244

DEPRECIATION

At 1st November 2016

5,689

14,458

20,147

Charge for year

303

12,650

12,953

At 31st October 2017

5,992

27,108

33,100

NET BOOK VALUE

At 31st October 2017

2,492

51,652

54,144

At 31st October 2016

1,405

31,420

32,825

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st November 2016

28,578

Additions

32,882

At 31st October 2017

61,460

DEPRECIATION

At 1st November 2016

4,456

Charge for year

10,826

At 31st October 2017

15,282

NET BOOK VALUE

At 31st October 2017

46,178

At 31st October 2016

24,122

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

129,563

82,352

Other debtors

5,939

2,676

135,502

85,028

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

11,894

6,333

Trade creditors

33,043

31,009

Taxation and social security

37,836

14,291

Other creditors

2,813

3,714

85,586

55,347

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

17,743

-

Other creditors

-

7,297

17,743

7,297

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Other loans

-

9,792

Hire purchase contracts

29,637

6,333

29,637

16,125

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £79,800 (2016 - £29,000) were paid to the director .

10.	ULTIMATE CONTROLLING PARTY

The controlling party is M C Timmins.

The controlling parties are the shareholders.