JES Plumbing & Heating Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07088836 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

FOR

JES PLUMBING & HEATING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J E Scott

S J Scott

E J Warner

REGISTERED OFFICE:

Unit 8, Oak Spinney Park

Ratby Lane

Leicester Forest East

Leicester

LE3 3AW

REGISTERED NUMBER:

07088836 (England and Wales)

ACCOUNTANTS:

SFB Group Limited

Chartered Accountants

Unit 8 Oak Spinney Park

Ratby Lane

Leicester Forest East

Leicester

LE3 3AW

CURRENT ASSETS

Stocks

250

200

Debtors

5

49,389

64,102

Cash at bank

52,215

87,273

101,854

151,575

CREDITORS

Amounts falling due within one year

6

55,641

139,079

NET CURRENT ASSETS

46,213

12,496

TOTAL ASSETS LESS CURRENT LIABILITIES

46,213

12,496

CREDITORS

Amounts falling due after more than one year

7

45,455

-

NET ASSETS

758

12,496

CAPITAL AND RESERVES

Called up share capital

99

99

Retained earnings

659

12,397

SHAREHOLDERS' FUNDS

758

12,496

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2021 and were signed on its behalf by:

J E Scott - Director

S J Scott - Director

E J Warner - Director

1.	STATUTORY INFORMATION

JES Plumbing & 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns, discounts, valued added tax and other sales taxes.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Fixtures and fittings

- 15% reducing balance

Computer equipment

- 33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 March 2020

and 28 February 2021

700

DEPRECIATION

At 1 March 2020

and 28 February 2021

700

NET BOOK VALUE

At 28 February 2021

-

At 29 February 2020

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

30,872

53,828

Other debtors

18,517

10,274

49,389

64,102

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

4,545

-

Trade creditors

25,301

117,043

Taxation and social security

7,727

5,796

Other creditors

18,068

16,240

55,641

139,079

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

45,455

-

8.	RELATED PARTY DISCLOSURES

Included in other creditors is an amount due to the directors of the company, of £15,218 (2020 - £11,790) which is interest free and repayable on demand.