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REGISTERED NUMBER: 07309210 (England and Wales)















Jade Insulation Limited

Unaudited Financial Statements for the Year Ended 31 July 2023






Jade Insulation Limited (Registered number: 07309210)






Contents of the Financial Statements
for the year ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jade Insulation Limited

Company Information
for the year ended 31 July 2023







DIRECTORS: C Tarry
P White
C J Best





SECRETARIES: DA Tarry
J White





REGISTERED OFFICE: Unit 16/17 Century Park Network Centre
Dearne Lane Manvers
Rotherham
South Yorkshire
S63 5DE





REGISTERED NUMBER: 07309210 (England and Wales)





ACCOUNTANTS: Webb & Co Ltd
Accountants and Business Advisers
One New Street
Wells
Somerset
BA5 2LA

Jade Insulation Limited (Registered number: 07309210)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 15,516 4,784
Tangible assets 4 54,686 67,586
70,202 72,370

CURRENT ASSETS
Stocks 171,404 172,189
Debtors 5 516,243 604,887
Cash at bank and in hand 363,352 379,499
1,050,999 1,156,575
CREDITORS
Amounts falling due within one year 6 313,423 385,580
NET CURRENT ASSETS 737,576 770,995
TOTAL ASSETS LESS CURRENT
LIABILITIES

807,778

843,365

PROVISIONS FOR LIABILITIES 8,093 8,008
NET ASSETS 799,685 835,357

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 799,585 835,257
SHAREHOLDERS' FUNDS 799,685 835,357

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

Jade Insulation Limited (Registered number: 07309210)

Balance Sheet - continued
31 July 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:





C Tarry - Director


Jade Insulation Limited (Registered number: 07309210)

Notes to the Financial Statements
for the year ended 31 July 2023

1. ACCOUNTING POLICIES

General information and basis of preparing the financial statements
Jade Insulation Ltd is a company limited by shares incorporated in England within the United Kingdom.The address of the registered office is given in the Company Information on page 1 of these financial statements.

The nature of the company's operations and principal activities is that of the manufacture and installation of industrial insulation heating systems.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A small entities.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of industrial insulation heating systems is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from installation of the industrial insulation heating systems is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to work completed to date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Combined other intangible assets - 20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Jade Insulation Limited (Registered number: 07309210)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

1. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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:

Short leasehold property - Over 5 years
Plant and machinery - 10% and 20% straight line
Motor vehicles - 20% straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks
Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Jade Insulation Limited (Registered number: 07309210)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

1. ACCOUNTING POLICIES - continued

Defined contribution plans
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2022 - 42 ) .

3. INTANGIBLE FIXED ASSETS
Develop-
ment
costs
£   
COST
At 1 August 2022 7,262
Additions 14,780
At 31 July 2023 22,042
AMORTISATION
At 1 August 2022 2,478
Amortisation for year 4,048
At 31 July 2023 6,526
NET BOOK VALUE
At 31 July 2023 15,516
At 31 July 2022 4,784

4. TANGIBLE FIXED ASSETS
Short Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 August 2022 40,618 86,518 58,416 185,552
Additions - 1,311 3,389 4,700
At 31 July 2023 40,618 87,829 61,805 190,252
DEPRECIATION
At 1 August 2022 15,176 56,703 46,087 117,966
Charge for year 3,128 6,510 7,962 17,600
At 31 July 2023 18,304 63,213 54,049 135,566
NET BOOK VALUE
At 31 July 2023 22,314 24,616 7,756 54,686
At 31 July 2022 25,442 29,815 12,329 67,586

Jade Insulation Limited (Registered number: 07309210)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 465,213 577,896
Other debtors 51,030 26,991
516,243 604,887

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 242,483 308,596
Taxation and social security 68,900 64,984
Other creditors 2,040 12,000
313,423 385,580

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 101,200 80,941
Between one and five years 107,909 160,171
209,109 241,112

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A shares of £1 each £1 100 100