JKL (HEATERS) LIMITED Filleted accounts for Companies House (small and micro)

JKL (HEATERS) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02978627

JKL (HEATERS) LIMITED

Filleted Unaudited Financial Statements

31 December 2022

JKL (HEATERS) LIMITED

Statement of Financial Position

31 December 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5		13,100	16,331

Current assets

Stocks		830	1,221
Debtors	6	86,862	72,422
Cash at bank and in hand		196,934	190,758
		---------	---------
		284,626	264,401

Creditors: amounts falling due within one year	7	83,076		77,303
		---------		---------
Net current assets			201,550	187,098
			---------	---------
Total assets less current liabilities			214,650	203,429
			---------	---------
Net assets			214,650	203,429
			---------	---------

Capital and reserves

Called up share capital	400	400
Profit and loss account	214,250	203,029
	---------	---------
Shareholders funds	214,650	203,429
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2022 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

JKL (HEATERS) LIMITED

Statement of Financial Position (continued)

31 December 2022

These financial statements were approved by the board of directors and authorised for issue on 21 June 2023 , and are signed on behalf of the board by:

K Garland Director

Company registration number: 02978627

JKL (HEATERS) LIMITED

Notes to the Financial Statements

Year ended 31 December 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 10 Woodway, Princes Risborough, High Wycombe, Bucks, HP27 0NN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & machinery	-	15% reducing balance
Fixtues & Fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2021: 5 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2022 and 31 December 2022	22,731	10,833	21,725	55,289
	--------	--------	--------	--------
Depreciation
At 1 January 2022	20,860	4,180	13,918	38,958
Charge for the year	281	998	1,952	3,231
	--------	--------	--------	--------
At 31 December 2022	21,141	5,178	15,870	42,189
	--------	--------	--------	--------
Carrying amount
At 31 December 2022	1,590	5,655	5,855	13,100
	--------	--------	--------	--------
At 31 December 2021	1,871	6,653	7,807	16,331
	--------	--------	--------	--------

6. Debtors

	2022	2021
	£	£
Trade debtors	83,565	69,230
Prepayments and accrued income	3,297	3,192
	--------	--------
	86,862	72,422
	--------	--------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	1,138	387
Trade creditors	45,763	26,571
Accruals and deferred income	3,111	2,800
Corporation tax	13,924	16,831
Social security and other taxes	12,340	17,882
Director loan accounts	5,941	12,452
Other creditors	859	380
	--------	--------
	83,076	77,303
	--------	--------

8. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2022
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
L A Saxton	( 6,227)	3,257	( 2,970)
K G Garland	( 6,225)	3,254	( 2,971)
	--------	-------	-------
	( 12,452)	6,511	( 5,941)
	--------	-------	-------

	2021
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
L A Saxton	( 10,097)	3,870	( 6,227)
K G Garland	( 10,095)	3,870	( 6,225)
	--------	-------	--------
	( 20,192)	7,740	( 12,452)
	--------	-------	--------