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REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

FOR

PROFESSIONAL VENTILATION SERVICES LTD

PROFESSIONAL VENTILATION SERVICES LTD (REGISTERED NUMBER: 04354762)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2022




Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 4

Chartered Certified Accountant's Report 7

PROFESSIONAL VENTILATION SERVICES LTD

COMPANY INFORMATION
for the year ended 31 January 2022







DIRECTOR: A Jepson





SECRETARY: A Jepson





REGISTERED OFFICE: 72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN





REGISTERED NUMBER: 04354762 (England and Wales)





ACCOUNTANT: Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

PROFESSIONAL VENTILATION SERVICES LTD (REGISTERED NUMBER: 04354762)

REPORT OF THE DIRECTOR
for the year ended 31 January 2022

The director presents his report with the financial statements of the company for the year ended 31 January 2022.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the manufacture and installation of ventilation systems.

DIRECTOR
A Jepson held office during the whole of the period from 1 February 2021 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A Jepson - Secretary


23 March 2022

PROFESSIONAL VENTILATION SERVICES LTD (REGISTERED NUMBER: 04354762)

BALANCE SHEET
31 January 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 89,553 103,584

CURRENT ASSETS
Stocks 2,019 935
Debtors 6 111,276 68,834
Cash at bank 158,323 151,752
271,618 221,521
CREDITORS
Amounts falling due within one year 7 132,636 98,514
NET CURRENT ASSETS 138,982 123,007
TOTAL ASSETS LESS CURRENT LIABILITIES 228,535 226,591

CREDITORS
Amounts falling due after more than one year 8 (39,649 ) (65,696 )

PROVISIONS FOR LIABILITIES (13,361 ) (14,702 )
NET ASSETS 175,525 146,193

CAPITAL AND RESERVES
Called up share capital 195 195
Capital redemption reserve 75 75
Retained earnings 175,255 145,923
SHAREHOLDERS' FUNDS 175,525 146,193

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 23 March 2022 and were signed by:




A Jepson - Director


PROFESSIONAL VENTILATION SERVICES LTD (REGISTERED NUMBER: 04354762)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2022

1. STATUTORY INFORMATION

Professional Ventilation Services Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and Straight line over 3 years

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

Stock is valued on a FIFO basis.

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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

PROFESSIONAL VENTILATION SERVICES LTD (REGISTERED NUMBER: 04354762)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2022

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 15 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2021 335,581
Additions 22,396
Disposals (41,200 )
At 31 January 2022 316,777
DEPRECIATION
At 1 February 2021 236,653
Charge for year 27,503
Eliminated on disposal (36,932 )
At 31 January 2022 227,224
NET BOOK VALUE
At 31 January 2022 89,553
At 31 January 2021 98,928

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2021 51,103
Additions 20,770
At 31 January 2022 71,873
DEPRECIATION
At 1 February 2021 11,981
Charge for year 14,103
At 31 January 2022 26,084
NET BOOK VALUE
At 31 January 2022 45,789
At 31 January 2021 39,122

PROFESSIONAL VENTILATION SERVICES LTD (REGISTERED NUMBER: 04354762)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 102,351 48,624
Amounts owed by group undertakings 1,000 1,000
Other debtors 7,925 19,210
111,276 68,834

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,000 -
Hire purchase contracts 9,380 12,713
Trade creditors 28,437 23,579
Taxation and social security 18,335 24,901
Other creditors 66,484 37,321
132,636 98,514

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 33,333 50,000
Hire purchase contracts 6,316 15,696
39,649 65,696

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 15,696 28,409

Hire purchase contracts are secured on the specific assets to which they relate.

10. ULTIMATE PARENT COMPANY

The Ultimate parent company is PVS (Holdings) Ltd.

11. ULTIMATE CONTROLLING PARTY

The controlling party is PVS (Holdings) Ltd.

The ultimate controlling party is A Jepson.

CHARTERED CERTIFIED ACCOUNTANT'S REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PROFESSIONAL VENTILATION SERVICES LTD

The following reproduces the text of the report prepared for the director 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 Statement of Comprehensive Income and certain other primary statements and the Report of the Director 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, I have prepared for your approval the financial statements of Professional Ventilation Services Ltd for the year ended 31 January 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Professional Ventilation Services Ltd in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Professional Ventilation Services Ltd and state those matters that I have agreed to state to the director of Professional Ventilation Services Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its director for my work or for this report.

It is your duty to ensure that Professional Ventilation Services Ltd 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 Professional Ventilation Services Ltd. You consider that Professional Ventilation Services Ltd is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Professional Ventilation Services Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.






Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN


1 April 2022