MODULAR_HEAT_EXCHANGERS_L - Accounts

Going concern

The company's financial statements have not been prepared on a going concern basis.

At 31 December 2017 the company has net liabilities of £2,597,301 (2016 £2,529,963) having made a loss after tax of £67,338 (2016 £71,636) for the year then ended.

At 31 December 2016 creditors included amounts of £2,249,037 (2016 £2,248,537) owed to the company's directors and associated companies. The company does not have the ability to repay any of the outstanding amounts, and any demand for repayment would, in the absence of funds being introduced from an external source, result in the company being placed in liquidation.

Modular Heat Exchangers Limited is a private company limited by shares incorporated in England and Wales. The business address is Unit 1, Shepcote Way, Tinsley Industrial Estate, Sheffield, S8 1TH.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

For the year ended 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.