J & M Heating Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08277284 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2018

FOR

J & M HEATING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Wallis

Mrs M Wallis

REGISTERED OFFICE:

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

REGISTERED NUMBER:

08277284 (England and Wales)

ACCOUNTANTS:

Gibson Booth Limited

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

BANKERS:

National Wesminister Bank PLC

P O Box 120

42 High Street

Sheffield

South Yorkshire

S1 2GE

FIXED ASSETS

Intangible assets

4

13,000

16,000

Tangible assets

5

165

220

13,165

16,220

CURRENT ASSETS

Stocks

6

1,500

1,500

Debtors

7

17,605

24,787

Cash at bank

22,956

43,923

42,061

70,210

CREDITORS

Amounts falling due within one year

8

33,900

63,756

NET CURRENT ASSETS

8,161

6,454

TOTAL ASSETS LESS CURRENT LIABILITIES

21,326

22,674

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

21,324

22,672

SHAREHOLDERS' FUNDS

21,326

22,674

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors on 25 April 2019 and were signed on its behalf by:

Mrs M Wallis - Director

1.	STATUTORY INFORMATION

J & M Heating Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company

Information page.

The financial statements are presented in sterling which is the functional currency of the company

and rounded to the nearest pound.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

No judgements have been made in the process of applying the below accounting policies that have

had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation

uncertainty at the reporting date that have a significant risk of causing material adjustment to the

carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

When the outcome of a transaction can be estimated reliably, turnover from heating and plumbing

engineering work is recognised by reference to the stage of completion at the balance sheet date.

Stage of completion is measured by reference to services rendered.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the

expenses recognised that are recoverable.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation

and accumulated impairment losses. Cost includes costs directly attributable to making the asset

capable of operating as intended.

Stocks

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

obsolete and slow moving stock.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2017

and 30 November 2018

30,000

AMORTISATION

At 1 December 2017

14,000

Amortisation for year

3,000

At 30 November 2018

17,000

NET BOOK VALUE

At 30 November 2018

13,000

At 30 November 2017

16,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 December 2017

and 30 November 2018

880

453

1,333

DEPRECIATION

At 1 December 2017

660

453

1,113

Charge for year

55

-

55

At 30 November 2018

715

453

1,168

NET BOOK VALUE

At 30 November 2018

165

-

165

At 30 November 2017

220

-

220

6.

STOCKS

30.11.18

30.11.17

£

£

Stocks

1,500

1,500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Trade debtors

664

6,000

Directors' current accounts

15,979

18,787

Prepayments and accrued income

962

-

17,605

24,787

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Trade creditors

12,637

35,855

Corporation tax

10,341

12,685

VAT

9,172

13,566

Accruals and deferred income

1,750

1,650

33,900

63,756

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.18

30.11.17

value:

£

£

1

Ordinary A

£1

1

1

1

Ordinary B

£1

1

1

2

2

10.

RESERVES

Retained

earnings

£

At 1 December 2017

22,672

Profit for the year

39,702

Dividends

(41,050

)

At 30 November 2018

21,324

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2018

and 30 November 2017:

30.11.18

30.11.17

£

£

Mr J Wallis and Mrs M Wallis

Balance outstanding at start of year

18,787

8,280

Amounts advanced

51,163

67,073

Amounts repaid

(53,971

)

(56,566

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

15,979

18,787