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REGISTERED NUMBER: 05306273 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

J S HEATING (IW) LIMITED

J S HEATING (IW) LIMITED (REGISTERED NUMBER: 05306273)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


J S HEATING (IW) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTOR: Mr J Sampson





REGISTERED OFFICE: Orchardleigh
13 Clarence Road
Shanklin
Isle of Wight
PO37 7BH





REGISTERED NUMBER: 05306273 (England and Wales)





ACCOUNTANTS: Garbetts (IOW) Limited
Exchange House
St Cross Lane
Newport
Isle of Wight
PO30 5BZ

J S HEATING (IW) LIMITED (REGISTERED NUMBER: 05306273)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,000
Tangible assets 5 2,226 2,479
Investments 6 276,914 244,190
279,140 247,669

CURRENT ASSETS
Stocks 1,500 200
Debtors 7 100,943 108,421
Cash at bank 99,041 75,261
201,484 183,882
CREDITORS
Amounts falling due within one year 8 36,686 33,824
NET CURRENT ASSETS 164,798 150,058
TOTAL ASSETS LESS CURRENT LIABILITIES 443,938 397,727

PROVISIONS FOR LIABILITIES 423 471
NET ASSETS 443,515 397,256

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 443,415 397,156
SHAREHOLDERS' FUNDS 443,515 397,256

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

J S HEATING (IW) LIMITED (REGISTERED NUMBER: 05306273)

BALANCE SHEET - continued
31 MARCH 2022


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 6 September 2022 and were signed by:





Mr J Sampson - Director


J S HEATING (IW) LIMITED (REGISTERED NUMBER: 05306273)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

J S Heating (IW) 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 as modified by the revaluation of certain assets.

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 2012, is being amortised evenly over its estimated useful life of ten 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 have been enacted or substantively enacted by the balance sheet date.


J S HEATING (IW) LIMITED (REGISTERED NUMBER: 05306273)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 10,000
AMORTISATION
At 1 April 2021 9,000
Charge for year 1,000
At 31 March 2022 10,000
NET BOOK VALUE
At 31 March 2022 -
At 31 March 2021 1,000

J S HEATING (IW) LIMITED (REGISTERED NUMBER: 05306273)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2021 23,212
Additions 490
At 31 March 2022 23,702
DEPRECIATION
At 1 April 2021 20,733
Charge for year 743
At 31 March 2022 21,476
NET BOOK VALUE
At 31 March 2022 2,226
At 31 March 2021 2,479

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2021 244,190
Additions 40,000
Revaluations (7,276 )
At 31 March 2022 276,914
NET BOOK VALUE
At 31 March 2022 276,914
At 31 March 2021 244,190

Cost or valuation at 31 March 2022 is represented by:

Other
investments
£   
Valuation in 2021 41,440
Valuation in 2022 (7,276 )
Cost 242,750
276,914

J S HEATING (IW) LIMITED (REGISTERED NUMBER: 05306273)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 10,774 20,227
Other debtors 90,169 88,194
100,943 108,421

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 9,696 10,546
Taxation and social security 25,431 21,605
Other creditors 1,559 1,673
36,686 33,824

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
Mr J Sampson
Balance outstanding at start of year 68,202 70,003
Amounts advanced 2,781 2,511
Amounts repaid (312 ) (4,312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 70,671 68,202