Cool & Heat Ltd - Accounts to registrar (filleted) - small 18.2

COOL & HEAT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M E J Peacock

Mrs D Peacock

M Walsh

REGISTERED OFFICE:

Bradley Junction Industrial Estate

Unit 1

Huddersfield

West Yorkshire

HD2 1UR

REGISTERED NUMBER:

04665531 (England and Wales)

ACCOUNTANTS:

Wilkinson and Partners

Chartered Accountants

Fairfax House

6a Mill Field Road

Cottingley Business Park

Bradford

West Yorkshire

BD16 1PY

FIXED ASSETS

Tangible assets

4

49,995

5,784

CURRENT ASSETS

Stocks

5

61,689

5,112

Debtors

6

852,154

853,908

Cash at bank and in hand

57,283

22,609

971,126

881,629

CREDITORS

Amounts falling due within one year

7

411,023

421,221

NET CURRENT ASSETS

560,103

460,408

TOTAL ASSETS LESS CURRENT LIABILITIES

610,098

466,192

CREDITORS

Amounts falling due after more than one year

8

(38,362

)

-

PROVISIONS FOR LIABILITIES

9

(9,499

)

-

NET ASSETS

562,237

466,192

CAPITAL AND RESERVES

Called up share capital

10

2,000

2,000

Retained earnings

560,237

464,192

SHAREHOLDERS' FUNDS

562,237

466,192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 13 November 2018 and were signed on its behalf by:

M E J Peacock - Director

1.	STATUTORY INFORMATION

Cool & Heat 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

-

15% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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.

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 21 (2017 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2017

16,047

12,493

-

28,540

Additions

-

-

60,260

60,260

At 31 March 2018

16,047

12,493

60,260

88,800

DEPRECIATION

At 1 April 2017

12,613

10,143

-

22,756

Charge for year

515

470

15,064

16,049

At 31 March 2018

13,128

10,613

15,064

38,805

NET BOOK VALUE

At 31 March 2018

2,919

1,880

45,196

49,995

At 31 March 2017

3,434

2,350

-

5,784

The net book value of tangible fixed assets includes £ 45,196 in respect of assets held under hire purchase

contracts.

5.

STOCKS

31.3.18

31.3.17

£

£

Stocks

24,748

5,112

Work-in-progress

36,941

-

61,689

5,112

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

474,615

446,166

Other debtors

377,539

407,742

852,154

853,908

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

21,342

-

Trade creditors

284,931

310,889

Tax

37,843

54,970

Social security and other taxes

16,157

14,102

VAT

49,450

29,882

Accrued expenses

1,300

11,378

411,023

421,221

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

38,362

-

9.	PROVISIONS FOR LIABILITIES

31.3.18

31.3.17

£

£

Deferred tax

9,499

-

Deferred

tax

£

Accelerated Capital Allowances

9,499

Balance at 31 March 2018

9,499

The entire provision for deferred tax relates to accelerated capital allowances.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

2,000

Ordinary

£1.00

2,000

2,000

11.	ULTIMATE CONTROLLING PARTY

The controlling party is ACE Group (Engineering) Limited.