REGISTERED NUMBER: SC277037 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

AB Heating Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A B Summers

A W Summers Jnr

Mrs I F Summers

SECRETARY:

Mrs I F Summers

REGISTERED OFFICE:

Woodlands

34 Blackhouse Terrace

Peterhead

Aberdeenshire

AB42 1LQ

REGISTERED NUMBER:

SC277037 (Scotland)

ACCOUNTANTS:

SBP

Accountants

Glebefield House

21 Links Terrace

Peterhead

Aberdeenshire

AB42 2XA

FIXED ASSETS

Tangible assets

4

5,390

6,405

CURRENT ASSETS

Stocks

38,644

6,000

Debtors

5

-

192

Cash at bank

129,910

29,945

168,554

36,137

CREDITORS

Amounts falling due within one year

6

107,430

37,816

NET CURRENT ASSETS/(LIABILITIES)

61,124

(1,679

)

TOTAL ASSETS LESS CURRENT LIABILITIES

66,514

4,726

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

66,511

4,723

SHAREHOLDERS' FUNDS

66,514

4,726

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 directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 20 December 2017 and were signed on its behalf by:

A B Summers - Director

1.	STATUTORY INFORMATION

AB 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.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing

stocks to their present location and condition.

Debtors and creditors receivable /payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction

price. Any losses arising from impairment are recognised in the profit and loss account in other administrative costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Transition note

The financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS102

Section 1A small entities. The date of transition is 1 January 2016. The transition has resulted in a small number of changes

in accounting policies to those used previously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2016

8,304

573

10,909

1,210

20,996

Additions

525

-

-

-

525

At 31 March 2017

8,829

573

10,909

1,210

21,521

DEPRECIATION

At 1 April 2016

4,643

499

8,321

1,128

14,591

Charge for year

837

15

647

41

1,540

At 31 March 2017

5,480

514

8,968

1,169

16,131

NET BOOK VALUE

At 31 March 2017

3,349

59

1,941

41

5,390

At 31 March 2016

3,661

74

2,588

82

6,405

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of

each accounting period.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

-

192

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

1,563

1,597

Tax

36,865

10,207

VAT

19,054

8,623

Other creditors

5,978

6,458

Directors' loan account

42,370

9,331

Accrued expenses

1,600

1,600

107,430

37,816