Registered number: 03325359 | ||||||||
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FOR THE YEAR ENDED 31/03/2017 | ||||||||
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Prepared By: | ||||||||
HPW Chartered Accountants | ||||||||
Chartered Accountants | ||||||||
9 | ||||||||
Hey Cliff Road | ||||||||
Holmfirth | ||||||||
West Yorkshire | ||||||||
HD9 1XD |
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Thermofuse Pipelines Ltd | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2017 | ||||||||
DIRECTORS | ||||||||
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REGISTERED OFFICE | ||||||||
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South Yorkshire | ||||||||
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COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 03325359 | ||||||||
ACCOUNTANTS | ||||||||
HPW Chartered Accountants | ||||||||
Chartered Accountants | ||||||||
9 | ||||||||
Hey Cliff Road | ||||||||
Holmfirth | ||||||||
West Yorkshire | ||||||||
HD9 1XD |
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Thermofuse Pipelines Ltd | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2017 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
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Thermofuse Pipelines Ltd | ||||||||
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BALANCE SHEET AT
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2017 | 2016 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 |
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CURRENT ASSETS | ||||||||||
Stock | 26,625 | 24,227 | ||||||||
Debtors | 4 | 746,530 | 238,209 | |||||||
Current Asset Investments | 5 |
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Cash at bank and in hand |
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905,918 | 417,600 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | 277,380 | 218,079 | |||||||
NET CURRENT ASSETS | 628,538 | 199,521 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | 839,536 | 910,518 | ||||||||
CREDITORS: Amounts falling due after more than one year | 7 | 305,948 | 341,883 | |||||||
NET ASSETS | 533,588 | 568,635 | ||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 9 | 100 | 100 | |||||||
Revaluation reserve | 1e,10 | 123,149 | 356,559 | |||||||
Capital redemption reserve | 11 | 25 | 25 | |||||||
Profit and loss account | 410,314 | 211,951 | ||||||||
SHAREHOLDERS' FUNDS |
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568,635 | ||||||||
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The directors have decided not to deliver to the registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the board on
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............................. | ||||||||||
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Director | ||||||||||
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Thermofuse Pipelines Ltd | ||||||||
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NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/03/2017 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
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Plant and Machinery | reducing balance 15% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
1e. Revaluation Reserve | ||||||||
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note 10 ). | ||||||||
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account. |
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Thermofuse Pipelines Ltd | ||||||||
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2. TANGIBLE FIXED ASSETS | ||||||||||
Land And | Plant and | |||||||||
Buildings | Machinery | Total | ||||||||
£ | £ | £ | ||||||||
Cost | ||||||||||
At 01/04/2016 | 483,570 | 581,256 | 1,064,826 | |||||||
Additions | - | 32,900 | 32,900 | |||||||
Disposals | (483,570) | (35,836) | (519,406) | |||||||
At 31/03/2017 | - | 578,320 | 578,320 | |||||||
Depreciation | ||||||||||
At 01/04/2016 | - | 353,829 | 353,829 | |||||||
Disposals | - | (20,621) | (20,621) | |||||||
For the year | - | 34,114 | 34,114 | |||||||
At 31/03/2017 | - | 367,322 | 367,322 | |||||||
Net Book Amounts | ||||||||||
At 31/03/2017 |
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At 31/03/2016 |
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On the 23.12.2016 via an exchange of Shares Agreement the company became a wholly owned subsidiary of Thermofuse Ltd , a company incorporated in England & Wales . The company transferred its freehold land and buildings to Thermofuse ltd and became a tenant under the terms of a 10year lease of the same premises. | ||||||||||
3. STOCK | 2017 | 2016 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock |
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Work in progress |
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4. DEBTORS | 2017 | 2016 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 264,801 | 167,136 | ||||||
Other debtors | 1,109 | 71,073 | ||||||
Amounts due from group companies | 480,620 | - | ||||||
746,530 | 238,209 | |||||||
5. CURRENT ASSET INVESTMENTS | ||||||||
2017 | 2016 | |||||||
£ | £ | |||||||
Unlisted investments - Other Deposits | 47,500 | 47,500 | ||||||
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Thermofuse Pipelines Ltd | ||||||||
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6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2017 | 2016 | |||||||
£ | £ | |||||||
UK corporation tax | 4,354 | 11,516 | ||||||
VAT | 45,684 | 13,529 | ||||||
PAYE control | 14,342 | 53,529 | ||||||
Bank Loan | 11,538 | 11,538 | ||||||
Hire purchase | 23,889 | 23,889 | ||||||
Trade creditors | 177,573 | 101,366 | ||||||
Other creditors | - | 2,712 | ||||||
277,380 | 218,079 | |||||||
The bank loan is secured by a Mortgage Debenture | ||||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2017 | 2016 | |||||||
£ | £ | |||||||
Bank loans (secured) >1yr | 275,205 | 287,226 | ||||||
Hire purchase >1yr | 30,743 | 54,657 | ||||||
305,948 | 341,883 | |||||||
The bank loan is secured by a Mortgage Debenture. | ||||||||
8. EMPLOYEES | ||||||
2017 | 2016 | |||||
No. | No. | |||||
Average number of employees | 19 | 19 | ||||
9. SHARE CAPITAL | 2017 | 2016 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
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100 | 100 | ||||||
100 | 100 | |||||||
10. REVALUATION RESERVE | 2017 | 2016 | ||||||
£ | £ | |||||||
Revaluation reserve | 123,149 | 356,559 | ||||||
123,149 | 356,559 | |||||||
11. OTHER RESERVES | 2017 | 2016 | ||||
£ | £ | |||||
Capital redemption reserve | 25 | 25 | ||||
25 | 25 | |||||
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Thermofuse Pipelines Ltd | ||||||||
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12. CONTROLLING PARTY | ||||||||
The company is a wholly owned subsidiary of Thermofuse Ltd | ||||||||
13. RELATED PARTY TRANSACTIONS | ||||||||
As stated in note 2 on the 23.12.2016 the company became a wholly owned subsidiary of Thermofuse Ltd. and transferred its freehold premises to its parent company. . Thermofuse Ltd created a 10 year lease of the premises to its wholly owned subsidiary Thermofuse Pipelines Ltd. In the period to 31.3.2017 Thermofuse Pipelines Ltd paid rent in the sum of £10,500 | ||||||||