JLS Plumbing and Heating Services Limited Filleted accounts for Companies House (small and micro)

JLS PLUMBING AND HEATING SERVICES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03593378

JLS Plumbing and Heating Services Limited

Filleted Unaudited Financial Statements

31 March 2023

JLS Plumbing and Heating Services Limited

Statement of Financial Position

31 March 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	87,571	58,561

Current assets

Stocks		500	500
Debtors	6	128,704	116,035
Cash at bank and in hand		225,222	222,633
		---------	---------
		354,426	339,168

Creditors: amounts falling due within one year	7	144,707	70,433
		---------	---------
Net current assets		209,719	268,735
		---------	---------
Total assets less current liabilities		297,290	327,296

Creditors: amounts falling due after more than one year	8	3,200	–

Provisions	16,638	11,126
	---------	---------
Net assets	277,452	316,170
	---------	---------

Capital and reserves

Called up share capital	10	10
Profit and loss account	277,442	316,160
	---------	---------
Shareholders funds	277,452	316,170
	---------	---------

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 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

JLS Plumbing and Heating Services Limited

Statement of Financial Position (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 12 September 2023 , and are signed on behalf of the board by:

Mr S I Brown
Director

Company registration number: 03593378

JLS Plumbing and Heating Services Limited

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Salcombe Close, Newthorpe, Nottingham, NG16 2DQ.

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.

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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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 and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Office equipment	-	20% reducing balance

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.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2022: 8 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Office equipment	Total
	£	£	£	£	£
Cost
At 1 April 2022	12,482	1,502	96,114	13,628	123,726
Additions	4,660	–	80,455	–	85,115
Disposals	–	–	( 53,990)	–	( 53,990)
	--------	-------	---------	--------	---------
At 31 March 2023	17,142	1,502	122,579	13,628	154,851
	--------	-------	---------	--------	---------
Depreciation
At 1 April 2022	9,161	1,235	45,704	9,065	65,165
Charge for the year	1,996	67	25,912	913	28,888
Disposals	–	–	( 26,773)	–	( 26,773)
	--------	-------	---------	--------	---------
At 31 March 2023	11,157	1,302	44,843	9,978	67,280
	--------	-------	---------	--------	---------
Carrying amount
At 31 March 2023	5,985	200	77,736	3,650	87,571
	--------	-------	---------	--------	---------
At 31 March 2022	3,321	267	50,410	4,563	58,561
	--------	-------	---------	--------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 March 2023	60,341
	--------
At 31 March 2022	–
	--------

6. Debtors

	2023	2022
	£	£
Trade debtors	89,154	92,317
Other debtors	39,550	23,718
	---------	---------
	128,704	116,035
	---------	---------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	48,950	40,195
Social security and other taxes	4,956	25,462
Other creditors	90,801	4,776
	---------	--------
	144,707	70,433
	---------	--------

8. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Other creditors	3,200	–
	-------	----

9. Other financial commitments

The company had other financial commitments at the balance sheet date of £14,294 (2022: £3,000).