REGISTERED NUMBER: SC239552 (Scotland)

Financial Statements for the Year Ended 31 March 2017

for

ABS HEATING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A Allen

REGISTERED OFFICE:

Laurel House

Ruthvenfield Road

Inveralmond Industrial Estate

Perth

Perthshire

PH1 3EE

REGISTERED NUMBER:

SC239552 (Scotland)

ACCOUNTANTS:

Account Tax Ltd

Chartered Certified Accountants

12 Traill Drive

Montrose

Angus

DD10 8SW

FIXED ASSETS

Tangible assets

4

13,761

18,946

CURRENT ASSETS

Stocks

730

655

Debtors

5

670

711

Cash at bank

34,381

46,939

35,781

48,305

CREDITORS

Amounts falling due within one year

6

5,079

7,501

NET CURRENT ASSETS

30,702

40,804

TOTAL ASSETS LESS CURRENT LIABILITIES

44,463

59,750

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

44,462

59,749

SHAREHOLDERS' FUNDS

44,463

59,750

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director on 19 October 2017 and were signed by:

A Allen - Director

1.	STATUTORY INFORMATION

ABS Heating Ltd is a private company, limited by shares , registered in Scotland. 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.

Freehold property

-

20% on cost

Plant and machinery

-

20% on cost

Motor vehicles

-

20% on cost

Stock

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss

Account, 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 material 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 April 2016

and 31 March 2017

2,910

8,699

34,234

45,843

DEPRECIATION

At 1 April 2016

2,910

4,427

19,560

26,897

Charge for year

-

1,336

3,849

5,185

At 31 March 2017

2,910

5,763

23,409

32,082

NET BOOK VALUE

At 31 March 2017

-

2,936

10,825

13,761

At 31 March 2016

-

4,272

14,674

18,946

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

670

711

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

1,552

2,846

Other creditors

3,527

4,655

5,079

7,501

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,000 (2016 - £29,000) were paid to the director .

The company was under the control of A Allen throughout the current and previous year.

During the year the company repaid the director net amounts totalling £1,194. As at 31 March 2017

included within other creditors is a balance of £1,851 (2016 - £3,045) in respect of the directors loan

account. No interest was paid on this loan.