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Registration number: 04186483

ISCA Heating & Plumbing CO. LTD

trading as ISCA Heating & Plumbing Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 July 2023

 

ISCA Heating & Plumbing CO. LTD

trading as ISCA Heating & Plumbing Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

ISCA Heating & Plumbing CO. LTD

trading as ISCA Heating & Plumbing Ltd

Company Information

Directors

Mr Ian K Ibbeson

Mr L E Ibbeson

Registered office

60 Finning Avenue
Pinhoe
Exeter
EX4 8FA

Accountants

C J Consultants
15 Jasmine Close
Tiverton
Devon
EX16 6UB

 

ISCA Heating & Plumbing CO. LTD

trading as ISCA Heating & Plumbing Ltd

(Registration number: 04186483)
Abridged Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

24,698

7,990

Current assets

 

Stocks

5

1,175

1,249

Debtors

6

13,157

35,170

Cash at bank and in hand

 

47,504

55,446

 

61,836

91,865

Prepayments and accrued income

 

402

-

Creditors: Amounts falling due within one year

(37,241)

(26,363)

Net current assets

 

24,997

65,502

Total assets less current liabilities

 

49,695

73,492

Creditors: Amounts falling due after more than one year

(42,080)

(42,025)

Accruals and deferred income

 

(2,106)

-

Net assets

 

5,509

31,467

Capital and reserves

 

Called up share capital

7

200

200

Capital redemption reserve

95

95

Retained earnings

5,214

31,172

Shareholders' funds

 

5,509

31,467

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

ISCA Heating & Plumbing CO. LTD

trading as ISCA Heating & Plumbing Ltd

(Registration number: 04186483)
Abridged Balance Sheet as at 31 July 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 November 2023 and signed on its behalf by:
 

.........................................

Mr L E Ibbeson

Director

 

ISCA Heating & Plumbing CO. LTD

trading as ISCA Heating & Plumbing Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
60 Finning Avenue
Pinhoe
Exeter
EX4 8FA

These financial statements were authorised for issue by the Board on 5 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities in the United Kingdom. Revenue is shown net of value added tax, returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when the goods are delivered and legal title has passed.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

ISCA Heating & Plumbing CO. LTD

trading as ISCA Heating & Plumbing Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% per annum of Net Book Value

Motor Vehicles

25% per annum of Net Book value

Office Equipment

25% per annum of Net Book Value

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

During the year a director was appointed and purchased shares in the company.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

ISCA Heating & Plumbing CO. LTD

trading as ISCA Heating & Plumbing Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2022

3,380

28,395

-

31,775

Additions

151

25,870

363

26,384

Disposals

-

(14,199)

-

(14,199)

At 31 July 2023

3,531

40,066

363

43,960

Depreciation

At 1 August 2022

2,801

20,984

-

23,785

Charge for the year

220

7,965

70

8,255

Eliminated on disposal

-

(12,778)

-

(12,778)

At 31 July 2023

3,021

16,171

70

19,262

Carrying amount

At 31 July 2023

510

23,895

293

24,698

At 31 July 2022

579

7,411

-

7,990

Capitalised borrowing costs

Within Motor Vehicles are capitalised borrowing costs of £17,134 (2022 - £6,632). The capitalisation rate used to determine the amount of finance costs capitalised during the period was 4.7%.

5

Stocks

2023
£

2022
£

Other inventories

1,175

1,249

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

 

ISCA Heating & Plumbing CO. LTD

trading as ISCA Heating & Plumbing Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

200

200

200

200

         

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows: