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REGISTERED NUMBER: 07518634 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

IBA GAS MAINTENANCE LIMITED

IBA GAS MAINTENANCE LIMITED (REGISTERED NUMBER: 07518634)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IBA GAS MAINTENANCE LIMITED

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTORS: I B Ashton
Mrs K P Ashton





REGISTERED OFFICE: 25 Baytree Road
Clayton Le Woods
Chorley
Lancashire
PR6 7JW





REGISTERED NUMBER: 07518634 (England and Wales)





ACCOUNTANTS: Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House Euxton Lane
Euxton
Chorley
Lancashire
PR7 6TB

IBA GAS MAINTENANCE LIMITED (REGISTERED NUMBER: 07518634)

BALANCE SHEET
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 258,161 238,035
258,161 238,035

CURRENT ASSETS
Debtors 7 166,074 76,045
Cash at bank 57,202 126,987
223,276 203,032
CREDITORS
Amounts falling due within one year 8 97,456 87,695
NET CURRENT ASSETS 125,820 115,337
TOTAL ASSETS LESS CURRENT
LIABILITIES

383,981

353,372

CREDITORS
Amounts falling due after more than one
year

9

(105,848

)

(88,127

)

PROVISIONS FOR LIABILITIES (53,413 ) (45,227 )
NET ASSETS 224,720 220,018

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 224,620 219,918
SHAREHOLDERS' FUNDS 224,720 220,018

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

IBA GAS MAINTENANCE LIMITED (REGISTERED NUMBER: 07518634)

BALANCE SHEET - continued
28 February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by:





I B Ashton - Director


IBA GAS MAINTENANCE LIMITED (REGISTERED NUMBER: 07518634)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023


1. STATUTORY INFORMATION

IBA Gas Maintenance Limited is a private company, limited by shares, registered in England and Wales. The registered office address can be found on the company information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS102 section 1A for small entities. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The principle accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and have also been consistently applied within the same accounts.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Income recognition
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

Goodwill and intangibles
Goodwill is capitalised and has been amortised over its useful life of 10 years.

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 - 10% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other intangible assets. The related obligations, net of future finance charges, are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

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.

IBA GAS MAINTENANCE LIMITED (REGISTERED NUMBER: 07518634)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 10,500
AMORTISATION
At 1 March 2022
and 28 February 2023 10,500
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

IBA GAS MAINTENANCE LIMITED (REGISTERED NUMBER: 07518634)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023


6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 100,486 11,952 243,549 21,126 377,113
Additions - - 54,280 7,252 61,532
At 28 February 2023 100,486 11,952 297,829 28,378 438,645
DEPRECIATION
At 1 March 2022 23,973 4,269 102,262 8,574 139,078
Charge for year 7,651 1,537 28,257 3,961 41,406
At 28 February 2023 31,624 5,806 130,519 12,535 180,484
NET BOOK VALUE
At 28 February 2023 68,862 6,146 167,310 15,843 258,161
At 28 February 2022 76,513 7,683 141,287 12,552 238,035

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 160,491 69,667
Other debtors 5,583 6,378
166,074 76,045

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 9,769 9,769
Trade creditors - 1,382
Taxation and social security 62,499 50,965
Other creditors 25,188 25,579
97,456 87,695

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 23,135 32,904
Other creditors 82,713 55,223
105,848 88,127

IBA GAS MAINTENANCE LIMITED (REGISTERED NUMBER: 07518634)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I B Ashton.