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REGISTERED NUMBER: 04354762 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Professional Ventilation Services Ltd

Professional Ventilation Services Ltd (Registered number: 04354762)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Professional Ventilation Services Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: A Jepson
L A Borland





SECRETARY: A Jepson





REGISTERED OFFICE: Unit 2 New Line Road
Kirkby-in-Ashfiled
Nottinghamshire
NG17 8JQ





REGISTERED NUMBER: 04354762 (England and Wales)





ACCOUNTANTS: SP Accountancy Ltd
Lanes End
Ashover Road
Littlemoor
Chesterfield
Derbyshire
S45 0BL

Professional Ventilation Services Ltd (Registered number: 04354762)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 74,226 94,807

CURRENT ASSETS
Stocks 3,872 5,832
Debtors 5 308,357 235,268
Cash at bank 63,029 136,984
375,258 378,084
CREDITORS
Amounts falling due within one year 6 129,557 170,695
NET CURRENT ASSETS 245,701 207,389
TOTAL ASSETS LESS CURRENT
LIABILITIES

319,927

302,196

CREDITORS
Amounts falling due after more than
one year

7

(17,046

)

(33,411

)

PROVISIONS FOR LIABILITIES (15,390 ) (20,945 )
NET ASSETS 287,491 247,840

Professional Ventilation Services Ltd (Registered number: 04354762)

Balance Sheet - continued
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 279 217
Capital redemption reserve 75 75
Retained earnings 287,137 247,548
SHAREHOLDERS' FUNDS 287,491 247,840

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

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 17 April 2024 and were signed on its behalf by:





A Jepson - Director


Professional Ventilation Services Ltd (Registered number: 04354762)

Notes to the Financial Statements
for the Year Ended 31 January 2024

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.

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.

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 - straight line over 3 years, 25% on reducing balance, 20% on reducing balance and 15% 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.


Professional Ventilation Services Ltd (Registered number: 04354762)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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.

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.

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 11 (2023 - 10 ) .

Professional Ventilation Services Ltd (Registered number: 04354762)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 108,939 46,183 178,524 7,398 341,044
Additions 420 - - 2,044 2,464
At 31 January 2024 109,359 46,183 178,524 9,442 343,508
DEPRECIATION
At 1 February 2023 95,890 37,148 106,551 6,648 246,237
Charge for year 3,136 1,441 17,992 476 23,045
At 31 January 2024 99,026 38,589 124,543 7,124 269,282
NET BOOK VALUE
At 31 January 2024 10,333 7,594 53,981 2,318 74,226
At 31 January 2023 13,049 9,035 71,973 750 94,807

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2023 61,950
Transfer to ownership (33,199 )
At 31 January 2024 28,751
DEPRECIATION
At 1 February 2023 20,447
Charge for year 10,374
Transfer to ownership (20,938 )
At 31 January 2024 9,883
NET BOOK VALUE
At 31 January 2024 18,868
At 31 January 2023 41,503

Professional Ventilation Services Ltd (Registered number: 04354762)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 185,878 222,322
Amounts owed by group undertakings 500 -
Directors' current accounts 97,522 1,022
VAT 11,251 10,396
Prepayments 13,206 1,528
308,357 235,268

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 6,365 12,681
Trade creditors 50,724 66,771
Amounts owed to group undertakings - 18,000
Tax 18,017 20,977
Social security and other taxes 8,975 9,240
Other creditors 28,471 25,030
Directors' current accounts - 108
Accrued expenses 7,005 7,888
129,557 170,695

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 13,333 23,333
Hire purchase contracts 3,713 10,078
17,046 33,411

Professional Ventilation Services Ltd (Registered number: 04354762)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
A Jepson
Balance outstanding at start of year - -
Amounts advanced 97,522 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 97,522 -