Company Registration No. 06617202 (England and Wales)
Enviro-Heat NW Ltd
Unaudited accounts
for the year ended 31 March 2019
Enviro-Heat NW Ltd
Unaudited accounts
Contents
Enviro-Heat NW Ltd
Statement of financial position
as at
31 March 2019
Tangible assets
66,496
85,190
Inventories
10,000
12,500
Cash at bank and in hand
13,134
42,062
Creditors: amounts falling due within one year
(153,912)
(148,343)
Net current (liabilities)/assets
(11,667)
8,340
Total assets less current liabilities
54,829
93,530
Creditors: amounts falling due after more than one year
(41,771)
(60,856)
Provisions for liabilities
Called up share capital
303
303
Profit and loss account
12,226
31,476
Shareholders' funds
12,529
31,779
For the year ending 31 March 2019 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 directors acknowledge their 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 4 December 2019.
Mr I Whalley
Director
Company Registration No. 06617202
Enviro-Heat NW Ltd
Notes to the Accounts
for the year ended 31 March 2019
Enviro-Heat NW Ltd is a private company, limited by shares, registered in England and Wales, registration number 06617202. The registered office is Unit T10, Towngate Works, Mawdesley, Lancashire, L40 2QU, United Kingdom.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, and value added tax. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Motor vehicles
25% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Enviro-Heat NW Ltd
Notes to the Accounts
for the year ended 31 March 2019
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.
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2018
9,828
114,229
124,057
Additions
737
7,900
8,637
Disposals
-
(12,995)
(12,995)
At 31 March 2019
10,565
109,134
119,699
At 1 April 2018
6,862
32,005
38,867
Charge for the year
1,694
15,968
17,662
On disposals
-
(3,326)
(3,326)
At 31 March 2019
8,556
44,647
53,203
At 31 March 2019
2,009
64,487
66,496
At 31 March 2018
2,966
82,224
85,190
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
63,710
80,478
Raw materials
10,000
12,500
Enviro-Heat NW Ltd
Notes to the Accounts
for the year ended 31 March 2019
Trade debtors
88,940
82,053
Accrued income and prepayments
8,611
6,231
Other debtors
21,560
13,837
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Creditors: amounts falling due within one year
2019
2018
Obligations under finance leases and hire purchase contracts
18,666
14,652
Trade creditors
121,396
99,254
Taxes and social security
10,014
15,494
Loans from directors
501
16,001
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Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
41,771
60,856
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Average number of employees
During the year the average number of employees was 8 (2018: 8).