True Flame Heating Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06607616 (England and Wales)

Abbreviated Accounts for the Year Ended 30th June 2016

for

True Flame Heating Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

G.M. Sheehan

SECRETARY:

C.L. Sheehan

REGISTERED OFFICE:

1-3 Manor Road

Chatham

Kent

ME4 6AE

REGISTERED NUMBER:

06607616 (England and Wales)

ACCOUNTANTS:

Beak Kemmenoe

Chartered Accountants

1-3 Manor Road

Chatham

Kent

ME4 6AE

FIXED ASSETS

Intangible assets

2

1,821

2,771

Tangible assets

3

7,055

9,406

8,876

12,177

CURRENT ASSETS

Debtors

20,568

31,989

Cash at bank

15,804

2

36,372

31,991

CREDITORS

Amounts falling due within one year

4

33,190

34,499

NET CURRENT ASSETS/(LIABILITIES)

3,182

(2,508

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

12,058

9,669

CREDITORS

Amounts falling due after more than one year

4

(3,695

)

(6,583

)

PROVISIONS FOR LIABILITIES

(1,411

)

(1,881

)

NET ASSETS

6,952

1,205

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

6,852

1,105

SHAREHOLDERS' FUNDS

6,952

1,205

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 23rd March 2017 and were signed by:

G.M. Sheehan - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover is the total amount receivable by the company for goods supplied and services provided excluding VAT and trade

discounts.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital

element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2015

and 30th June 2016

9,500

AMORTISATION

At 1st July 2015

6,729

Amortisation for year

950

At 30th June 2016

7,679

NET BOOK VALUE

At 30th June 2016

1,821

At 30th June 2015

2,771

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2015

and 30th June 2016

18,301

DEPRECIATION

At 1st July 2015

8,895

Charge for year

2,351

At 30th June 2016

11,246

NET BOOK VALUE

At 30th June 2016

7,055

At 30th June 2015

9,406

4.

CREDITORS

Creditors include an amount of £ 6,583 (2015 - £ 9,214 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th June 2016 and 30th June 2015:

2016

2015

£

G.M. Sheehan

Balance outstanding at start of year

7,422

12,927

Amounts advanced

7,431

7,422

Amounts repaid

(7,422

)

(12,927

)

Balance outstanding at end of year

7,431

7,422