Jon Bailey Heating Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 06786904 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

JON BAILEY HEATING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

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

8,550

9,500

Tangible assets

5

6,883

9,176

15,433

18,676

CURRENT ASSETS

Stocks

1,410

1,545

Debtors

6

2,390

17,817

Cash at bank and in hand

28,229

26,623

32,029

45,985

CREDITORS

Amounts falling due within one year

7

38,318

41,761

NET CURRENT (LIABILITIES)/ASSETS

(6,289

)

4,224

TOTAL ASSETS LESS CURRENT LIABILITIES

9,144

22,900

CREDITORS

Amounts falling due after more than one year

8

885

3,010

NET ASSETS

8,259

19,890

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8,159

19,790

SHAREHOLDERS' FUNDS

8,259

19,890

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 by the Board of Directors on 6 July 2017 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

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 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 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 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

9,500

AMORTISATION

Charge for year

950

At 31 December 2016

950

NET BOOK VALUE

At 31 December 2016

8,550

At 31 December 2015

9,500

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

and 31 December 2016

23,055

DEPRECIATION

At 1 January 2016

13,879

Charge for year

2,293

At 31 December 2016

16,172

NET BOOK VALUE

At 31 December 2016

6,883

At 31 December 2015

9,176

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

1,523

16,734

Other debtors

867

1,083

2,390

17,817

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Hire purchase contracts

2,124

2,124

Trade creditors

6,663

9,753

Taxation and social security

14,661

12,866

Other creditors

14,870

17,018

38,318

41,761

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Hire purchase contracts

885

3,010

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £55,000 (2015 - £34,000) were paid to the directors .

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of their combined shareholding.

The following reproduces the text of the report prepared for the directors and members 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 2016 which

comprise the Income Statement, 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 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: .............................................