Geotek Heating Ltd

Geotek Heating Ltd

GEOTEK HEATING LTD - Company Information

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1 October 2016 false No description of principal activity Taxfiler 2018.14.Web 06841954business:PrivateLimitedCompanyLtd2016-10-012017-09-30 068419542016-09-30 068419542016-10-012017-09-30 06841954business:AuditExempt-NoAccountantsReport2016-10-012017-09-30 06841954business:FullAccounts2016-10-012017-09-30 068419542017-09-30 06841954business:Director12016-10-012017-09-30 06841954business:RegisteredOffice2016-10-012017-09-30 068419542016-09-30 06841954core:WithinOneYear2017-09-30 06841954core:WithinOneYear2016-09-30 06841954core:AfterOneYear2017-09-30 06841954core:AfterOneYear2016-09-30 06841954core:ShareCapital2017-09-30 06841954core:ShareCapital2016-09-30 06841954core:RetainedEarningsAccumulatedLosses2017-09-30 06841954core:RetainedEarningsAccumulatedLosses2016-09-30 06841954business:SmallEntities2016-10-012017-09-30 06841954countries:EnglandWales2016-10-012017-09-30 06841954core:PlantMachinery2016-10-012017-09-30 06841954core:MotorVehicles2016-10-012017-09-30 06841954core:FurnitureFittings2016-10-012017-09-30 06841954core:ComputerEquipment2016-10-012017-09-30 06841954core:PlantMachinery2016-09-30 06841954core:MotorVehicles2016-09-30 06841954core:FurnitureFittings2016-09-30 06841954core:ComputerEquipment2016-09-30 06841954core:PlantMachinery2017-09-30 06841954core:MotorVehicles2017-09-30 06841954core:FurnitureFittings2017-09-30 06841954core:ComputerEquipment2017-09-30 068419542015-10-012016-09-30 iso4217:GBP xbrli:pure
Company Registration No. 06841954 (England and Wales)
Geotek Heating Ltd Unaudited accounts for the year ended 30 September 2017
Geotek Heating Ltd Unaudited accounts Contents
Page
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Geotek Heating Ltd Company Information for the year ended 30 September 2017
Director
J.Dillon
Company Number
06841954 (England and Wales)
Registered Office
MAXRON HOUSE GREEN LANE ROMILEY STOCKPORT CHESHIRE SK6 3JQ ENGLAND
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Geotek Heating Ltd Statement of financial position as at 30 September 2017
2017 
2016 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
33,035 
34,113 
Current assets
Inventories
5
- 
167,786 
Debtors
6
1,429,884 
1,277,019 
Cash at bank and in hand
63,000 
120,906 
1,492,884 
1,565,711 
Creditors: amounts falling due within one year
7
(1,074,059)
(1,222,110)
Net current assets
418,825 
343,601 
Total assets less current liabilities
451,860 
377,714 
Creditors: amounts falling due after more than one year
8
- 
(5,093)
Provisions for liabilities
Deferred tax
(6,277)
(6,823)
Net assets
445,583 
365,798 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
445,483 
365,698 
Shareholders' funds
445,583 
365,798 
For the year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 22 October 2018.
J.Dillon Director Company Registration No. 06841954
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Geotek Heating Ltd Notes to the Accounts for the year ended 30 September 2017
1
Statutory information
Geotek Heating Ltd is a private company, limited by shares, registered in England and Wales, registration number 06841954. The registered office is MAXRON HOUSE GREEN LANE, ROMILEY, STOCKPORT, CHESHIRE, SK6 3JQ, ENGLAND.
2
Compliance with accounting standards
The Accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 30 September 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 October 2015. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The Accounts have been prepared under the historical cost convention.
Presentation currency
The Accounts are presented in £ sterling.
Turnover
Turnover represents the value of sales and services rendered, excluding Value Added Tax, in respect of the activities carried on by the company during the period covered by the Accounts. Completed, but uninvoiced work done at 30 September 2017 is included in the turnover figure as accrued income, at full invoice value.
Tangible fixed assets and depreciation
Tangible assets are included at cost less accumulated depreciation. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% pa (Reducing balance basis)
Motor vehicles
25% pa (Reducing balance basis)
Fixtures & fittings
25% pa (Reducing balance basis)
Computer equipment
25% pa (Reducing balance basis)
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Geotek Heating Ltd Notes to the Accounts for the year ended 30 September 2017
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 October 2016
22,421 
66,664 
3,184 
20,005 
112,274 
Additions
- 
8,137 
2,444 
- 
10,581 
Disposals
- 
(14,226)
- 
- 
(14,226)
At 30 September 2017
22,421 
60,575 
5,628 
20,005 
108,629 
Depreciation
At 1 October 2016
13,041 
46,660 
2,363 
16,097 
78,161 
Charge for the year
1,160 
6,587 
816 
1,303 
9,866 
On disposals
- 
(12,433)
- 
- 
(12,433)
At 30 September 2017
14,201 
40,814 
3,179 
17,400 
75,594 
Net book value
At 30 September 2017
8,220 
19,761 
2,449 
2,605 
33,035 
At 30 September 2016
9,380 
20,004 
821 
3,908 
34,113 
5
Inventories
2017 
2016 
£ 
£ 
Work in progress
- 
167,786 
- 
167,786 
6
Debtors
2017 
2016 
£ 
£ 
Trade debtors
988,462 
751,769 
Accrued income and prepayments
37,842 
117,093 
Other debtors
403,580 
408,157 
1,429,884 
1,277,019 
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Geotek Heating Ltd Notes to the Accounts for the year ended 30 September 2017
7
Creditors: amounts falling due within one year
2017 
2016 
£ 
£ 
Obligations under finance leases and hire purchase contracts
5,093 
8,700 
Trade creditors
342,361 
440,351 
Taxes and social security
470,348 
454,080 
Other creditors
470 
25,031 
Loans from directors
178,287 
138,058 
Accruals
77,500 
155,890 
1,074,059 
1,222,110 
8
Creditors: amounts falling due after more than one year
2017 
2016 
£ 
£ 
Obligations under finance leases and hire purchase contracts
- 
5,093 
9
Average number of employees
During the year the average number of employees was 12 (2016: 9).
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