Top Gas Heating & Plumbing Limited - Period Ending 2017-04-30

Top Gas Heating & Plumbing Limited - Period Ending 2017-04-30


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Registration number: 05436069

Top Gas Heating & Plumbing Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2017

L J Hall & Co
Chartered Certified Accountants
36 Dirac Road
Ashley Down
Bristol
BS7 9LP

 

Top Gas Heating & Plumbing Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 14

 

Top Gas Heating & Plumbing Limited

Company Information

Directors

Mr D A Southard

Mr G J Bacon

Mr M J Southard

Company secretary

Mr G J Bacon

Mr L J Hall FMAAT FCCA

Registered office

86 Charlton Road
Kingswood
Bristol
BS15 1HF

Bankers

National Westminister Bank plc
Filton, Bristol
PO Box 584
4 Church Road
Filton
Bristol
BS34 9FZ

Accountants

L J Hall & Co
Chartered Certified Accountants
36 Dirac Road
Ashley Down
Bristol
BS7 9LP

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Top Gas Heating & Plumbing Limited
for the Year Ended 30 April 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Top Gas Heating & Plumbing Limited for the year ended 30 April 2017 as set out on pages 3 to 14 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.

This report is made solely to the Board of Directors of Top Gas Heating & Plumbing Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Top Gas Heating & Plumbing Limited and state those matters that we have agreed to state to the Board of Directors of Top Gas Heating & Plumbing Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Top Gas Heating & Plumbing Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Top Gas Heating & Plumbing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Top Gas Heating & Plumbing Limited. You consider that Top Gas Heating & Plumbing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Top Gas Heating & Plumbing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

L J Hall & Co
Chartered Certified Accountants
36 Dirac Road
Ashley Down
Bristol
BS7 9LP

7 August 2017

 

Top Gas Heating & Plumbing Limited

(Registration number: 05436069)
Balance Sheet as at 30 April 2017

Note

2017
£

(As restated)

2016
£

Fixed assets

 

Tangible assets

4

20,674

27,086

Current assets

 

Debtors

5

8,592

24,185

Cash at bank and in hand

 

45,245

14,703

 

53,837

38,888

Creditors: Amounts falling due within one year

6

(55,053)

(39,962)

Net current liabilities

 

(1,216)

(1,074)

Total assets less current liabilities

 

19,458

26,012

Creditors: Amounts falling due after more than one year

6

(10,571)

(20,474)

Provisions for liabilities

(3,928)

(5,417)

Net assets

 

4,959

121

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

4,859

21

Total equity

 

4,959

121

For the financial year ending 30 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

 

Top Gas Heating & Plumbing Limited

(Registration number: 05436069)
Balance Sheet as at 30 April 2017

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 Board on 7 August 2017 and signed on its behalf by:
 

.........................................

Mr D A Southard

Director

.........................................

Mr G J Bacon

Company secretary and director

.........................................

Mr M J Southard

Director

 

Top Gas Heating & Plumbing Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

1

General information

The company is a private company limited by share capital incorporated in England & Wales.

The address of its registered office is:
86 Charlton Road
Kingswood
Bristol
BS15 1HF

These financial statements were authorised for issue by the Board on 7 August 2017.

2

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.

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:

Asset class

Depreciation method and rate

Motor vehicles

25% on reducing balance

Equipment

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Top Gas Heating & Plumbing Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Top Gas Heating & Plumbing Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2016 - 6).

 

Top Gas Heating & Plumbing Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

4

Tangible assets

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 May 2016

50,103

4,185

54,288

Additions

-

481

481

At 30 April 2017

50,103

4,666

54,769

Depreciation

At 1 May 2016

23,928

3,275

27,203

Charge for the year

6,544

348

6,892

At 30 April 2017

30,472

3,623

34,095

Carrying amount

At 30 April 2017

19,631

1,043

20,674

At 30 April 2016

26,175

911

27,086

5

Debtors

2017
£

2016
£

Trade debtors

7,000

6,580

Other debtors

1,592

17,605

Total current trade and other debtors

8,592

24,185

6

Creditors

 

Top Gas Heating & Plumbing Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

Note

2017
£

2016
£

Due within one year

 

Bank loans and overdrafts

7

16,489

13,471

Trade creditors

 

7,566

13,145

Taxation and social security

 

6,800

2,685

Other creditors

 

24,198

10,661

 

55,053

39,962

Due after one year

 

Loans and borrowings

7

10,571

20,474

7

Loans and borrowings

2017
£

2016
£

Non-current loans and borrowings

Finance lease liabilities

10,571

20,474

2017
£

2016
£

Current loans and borrowings

Finance lease liabilities

12,293

12,294

Other borrowings

4,196

1,177

16,489

13,471

8

Transition to FRS 102

Balance Sheet at 1 May 2015
 

Note

As originally reported
£

Reclassification
£

Remeasurement
£

Fixed assets

 

Tangible assets

 

(12,572)

-

-

Current assets

 

Debtors

 

(19,748)

-

-

Cash at bank and in hand

 

(16,740)

-

-

 

(36,488)

-

-

 

Top Gas Heating & Plumbing Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

Note

As restated
£

Fixed assets

 

Tangible assets

 

(12,572)

Current assets

 

Debtors

 

(19,748)

Cash at bank and in hand

 

(16,740)

 

(36,488)

 

Top Gas Heating & Plumbing Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

Note

As originally reported
£

Reclassification
£

Remeasurement
£

Creditors: Amounts falling due within one year

 

37,317

-

-

Net current assets

 

829

-

-

Total assets less current liabilities

 

(11,743)

-

-

Creditors: Amounts falling due after more than one year

 

9,222

-

-

Provisions for liabilities

 

2,514

-

-

Net liabilities

 

(7)

-

-

Capital and reserves

 

Called up share capital

 

2

-

-

Profit and loss account

 

5

-

-

Total equity

 

7

-

-

 

Top Gas Heating & Plumbing Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

Note

As restated
£

Creditors: Amounts falling due within one year

 

37,317

Net current assets

 

829

Total assets less current liabilities

 

(11,743)

Creditors: Amounts falling due after more than one year

 

9,222

Provisions for liabilities

 

2,514

Net liabilities

 

(7)

Capital and reserves

 

Called up share capital

 

2

Profit and loss account

 

5

Total equity

 

7

 

Top Gas Heating & Plumbing Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

Balance Sheet at 30 April 2016
 

Note

As originally reported
£

Reclassification
£

Remeasurement
£

Fixed assets

 

Tangible assets

 

(27,086)

-

-

Current assets

 

Debtors

 

(24,185)

-

-

Cash at bank and in hand

 

(14,703)

-

-

 

(38,888)

-

-

Creditors: Amounts falling due within one year

 

39,962

-

-

Net current assets

 

1,074

-

-

Total assets less current liabilities

 

(26,012)

-

-

Creditors: Amounts falling due after more than one year

 

20,474

-

-

Provisions for liabilities

 

5,417

-

-

Net liabilities

 

(121)

-

-

Capital and reserves

 

Called up share capital

 

100

-

-

Profit and loss account

 

21

-

-

Total equity

 

121

-

-

 

Top Gas Heating & Plumbing Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

Note

As restated
£

Fixed assets

 

Tangible assets

 

(27,086)

Current assets

 

Debtors

 

(24,185)

Cash at bank and in hand

 

(14,703)

 

(38,888)

Creditors: Amounts falling due within one year

 

39,962

Net current assets

 

1,074

Total assets less current liabilities

 

(26,012)

Creditors: Amounts falling due after more than one year

 

20,474

Provisions for liabilities

 

5,417

Net liabilities

 

(121)

Capital and reserves

 

Called up share capital

 

100

Profit and loss account

 

21

Total equity

 

121