Jon Bailey Heating Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06786904 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

JON BAILEY HEATING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

J Bailey

L Bailey

G K Durrant

A Durrant

REGISTERED OFFICE:

Greens Court

West Street

Midhurst

West Sussex

GU29 9NQ

REGISTERED NUMBER:

06786904 (England and Wales)

ACCOUNTANTS:

Goodale Mardle, Chartered Accountants

Greens Court

West Street

Midhurst

West Sussex

GU29 9NQ

FIXED ASSETS

Intangible assets

4

3,800

4,750

Tangible assets

5

9,126

11,877

12,926

16,627

CURRENT ASSETS

Stocks

1,075

1,295

Debtors

6

7,192

1,485

Cash at bank and in hand

35,890

36,464

44,157

39,244

CREDITORS

Amounts falling due within one year

7

52,238

51,821

NET CURRENT LIABILITIES

(8,081

)

(12,577

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,845

4,050

CREDITORS

Amounts falling due after more than one year

8

-

1,757

NET ASSETS

4,845

2,293

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

4,745

2,193

SHAREHOLDERS' FUNDS

4,845

2,293

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 March 2022 and were signed on its behalf by:

J Bailey - Director

1.	STATUTORY INFORMATION

Jon Bailey 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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, was previously not being amortised. In order to comply with the new accounting standards this balance is now being amortised over 10 years from the year ended 31 December 2016.

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 each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

9,500

AMORTISATION

At 1 January 2021

4,750

Charge for year

950

At 31 December 2021

5,700

NET BOOK VALUE

At 31 December 2021

3,800

At 31 December 2020

4,750

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

25,699

Additions

292

At 31 December 2021

25,991

DEPRECIATION

At 1 January 2021

13,822

Charge for year

3,043

At 31 December 2021

16,865

NET BOOK VALUE

At 31 December 2021

9,126

At 31 December 2020

11,877

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

6,473

520

Other debtors

719

965

7,192

1,485

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Hire purchase contracts

1,757

1,917

Trade creditors

16,985

14,570

Taxation and social security

15,930

14,288

Other creditors

17,566

21,046

52,238

51,821

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Hire purchase contracts

-

1,757

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jon Bailey Heating Limited for the year ended 31 December 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Jon Bailey Heating Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jon Bailey Heating Limited and state those matters that we have agreed to state to the Board of Directors of Jon Bailey Heating Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jon Bailey Heating Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Jon Bailey Heating Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jon Bailey Heating Limited. You consider that Jon Bailey Heating 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 financial statements of Jon Bailey Heating 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 financial statements.

Goodale Mardle, Chartered Accountants

Greens Court

West Street

Midhurst

West Sussex

GU29 9NQ

Date: .............................................