Registration number:
Harvest Heat Limited
for the Year Ended 31 March 2017
Harvest Heat Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Financial Statements |
Harvest Heat Limited
Company Information
Director |
Dr P J Dawe |
Registered office |
|
Bankers |
|
Accountants |
|
Page 1 |
Harvest Heat Limited
(Registration number: 08017268)
Balance Sheet as at 31 March 2017
Note |
2017 |
2016 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
( |
( |
|
Total equity |
( |
( |
For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Dr P J Dawe
Director
Page 2 |
Harvest Heat Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.The company has net liabilities of £81,773 (2016: £85,806) but the director is the controlling party of the company's major creditors and will not be seeking repayments of the amounts due to them for the foreseeable future.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable from Renewable Heat Incentives for the sale of electricity in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Page 3 |
Harvest Heat Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Asset class |
Depreciation method and rate |
Plant and machinery |
10% Straight line |
Trade debtors
Trade debtors are amounts due from customers for the sale of electricity in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of stocks comprises direct materials and, where applicable, overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Borrowings
Borrowings are recognised at the transaction value. Borrowings are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 4 |
Harvest Heat Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Tangible assets |
Other property, plant and equipment |
Total |
|
Cost or valuation |
||
At 1 April 2016 |
|
|
At 31 March 2017 |
|
|
Depreciation |
||
At 1 April 2016 |
|
|
Charge for the year |
|
|
At 31 March 2017 |
|
|
Carrying amount |
||
At 31 March 2017 |
|
|
At 31 March 2016 |
|
|
Debtors |
2017 |
2016 |
|
Other debtors |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
2017 |
2016 |
|
Due within one year |
||
Trade creditors |
|
|
Accruals and deferred income |
|
|
Other creditors |
|
|
|
|
Page 5 |
Harvest Heat Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Share capital |
Allotted, called up and fully paid shares
2017 |
2016 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Page 6 |