Company Registration No. 06617202 (England and Wales)
Enviro-Heat NW Ltd
Unaudited accounts
for the year ended 31 March 2021
Enviro-Heat NW Ltd
Unaudited accounts
Contents
Enviro-Heat NW Ltd
Statement of financial position
as at
31 March 2021
Tangible assets
40,560
61,321
Inventories
16,000
13,000
Cash at bank and in hand
47,801
4,553
Creditors: amounts falling due within one year
(251,720)
(201,507)
Net current assets/(liabilities)
37,789
(28,940)
Total assets less current liabilities
78,349
32,381
Creditors: amounts falling due after more than one year
(60,905)
(28,851)
Provisions for liabilities
Deferred tax
(1,773)
(283)
Called up share capital
303
303
Profit and loss account
15,368
2,944
Shareholders' funds
15,671
3,247
For the year ending 31 March 2021 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.
The financial statements were approved by the Board of Directors and authorised for issue on 14 September 2021 and were signed on its behalf by
Mr I Whalley
Director
Company Registration No. 06617202
Enviro-Heat NW Ltd
Notes to the Accounts
for the year ended 31 March 2021
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 2021
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.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2020
11,240
101,713
112,953
Additions
1,142
11,940
13,082
Disposals
-
(30,799)
(30,799)
At 31 March 2021
12,382
82,854
95,236
At 1 April 2020
9,747
41,885
51,632
Charge for the year
1,257
20,646
21,903
On disposals
-
(18,859)
(18,859)
At 31 March 2021
11,004
43,672
54,676
At 31 March 2021
1,378
39,182
40,560
At 31 March 2020
1,493
59,828
61,321
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
31,220
59,828
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
160,224
126,587
Accrued income and prepayments
13,204
7,132
Other debtors
22,000
4,779
Enviro-Heat NW Ltd
Notes to the Accounts
for the year ended 31 March 2021
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
8,333
-
Obligations under finance leases and hire purchase contracts
9,806
26,710
Trade creditors
197,300
155,417
Taxes and social security
21,293
16,407
Loans from directors
9,840
-
7
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
19,238
28,851
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Advance
2,387
20,600
28,000
(5,013)
Advance
2,392
20,781
28,000
(4,827)
4,779
41,381
56,000
(9,840)
The carried forward balance comprises the "loans from directors" balance as disclosed in note 6.
9
Average number of employees
During the year the average number of employees was 10 (2020: 9).