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REGISTERED NUMBER: NI059809 (Northern Ireland)













IAN SHORT PLUMBING & HEATING LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






IAN SHORT PLUMBING & HEATING LTD (REGISTERED NUMBER: NI059809)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Chartered Accountants' Report 3

Balance Sheet 4

Notes to the Financial Statements 6


IAN SHORT PLUMBING & HEATING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Ian Short
Jill Short



SECRETARY: Ian Short



REGISTERED OFFICE: 124 Moylagh Road
Gortaclare
OMAGH
Co. Tyrone
BT79 0YA



REGISTERED NUMBER: NI059809 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Danske Bank
5-7 Market Street
OMAGH
Co. Tyrone
BT78 1BN




IAN SHORT PLUMBING & HEATING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







SOLICITORS: Murnaghan Colton
3 John Street
Omagh
Co Tyrone
BT78 1DW

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
IAN SHORT PLUMBING & HEATING LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 October 2023 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 October 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


3 April 2024

IAN SHORT PLUMBING & HEATING LTD (REGISTERED NUMBER: NI059809)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,375 16,875
Tangible assets 5 31,109 17,067
43,484 33,942

CURRENT ASSETS
Stocks 50,501 81,166
Debtors 6 150,379 119,922
Cash at bank 258 255
201,138 201,343
CREDITORS
Amounts falling due within one year 7 240,343 268,971
NET CURRENT LIABILITIES (39,205 ) (67,628 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,279

(33,686

)

CREDITORS
Amounts falling due after more than one
year

8

(40,483

)

(41,523

)

PROVISIONS FOR LIABILITIES (5,911 ) (3,064 )
NET LIABILITIES (42,115 ) (78,273 )

IAN SHORT PLUMBING & HEATING LTD (REGISTERED NUMBER: NI059809)

BALANCE SHEET - continued
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (42,215 ) (78,373 )
SHAREHOLDERS' FUNDS (42,115 ) (78,273 )

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

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

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 3 April 2024 and were signed on its behalf by:





Ian Short - Director


IAN SHORT PLUMBING & HEATING LTD (REGISTERED NUMBER: NI059809)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Ian Short Plumbing & Heating Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2007, is being amortised evenly over its estimated life of twenty years.

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 & machinery - 15% straight line
Motor vehicles - 20% straight line

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.


IAN SHORT PLUMBING & HEATING LTD (REGISTERED NUMBER: NI059809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Going concern
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 9 ) .

IAN SHORT PLUMBING & HEATING LTD (REGISTERED NUMBER: NI059809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 90,000
AMORTISATION
At 1 November 2022 73,125
Charge for year 4,500
At 31 October 2023 77,625
NET BOOK VALUE
At 31 October 2023 12,375
At 31 October 2022 16,875

5. TANGIBLE FIXED ASSETS
Plant & Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2022 11,478 84,899 96,377
Additions - 27,750 27,750
At 31 October 2023 11,478 112,649 124,127
DEPRECIATION
At 1 November 2022 9,811 69,499 79,310
Charge for year 458 13,250 13,708
At 31 October 2023 10,269 82,749 93,018
NET BOOK VALUE
At 31 October 2023 1,209 29,900 31,109
At 31 October 2022 1,667 15,400 17,067

IAN SHORT PLUMBING & HEATING LTD (REGISTERED NUMBER: NI059809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022 38,500
Additions 15,500
At 31 October 2023 54,000
DEPRECIATION
At 1 November 2022 23,100
Charge for year 10,800
At 31 October 2023 33,900
NET BOOK VALUE
At 31 October 2023 20,100
At 31 October 2022 15,400

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 124,570 113,873
Other debtors 25,809 6,049
150,379 119,922

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,959 23,770
Hire purchase contracts 8,253 8,750
Trade creditors 197,232 223,753
Taxation and social security 13,857 4,973
Other creditors 8,042 7,725
240,343 268,971

IAN SHORT PLUMBING & HEATING LTD (REGISTERED NUMBER: NI059809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 31,764 37,074
Hire purchase contracts 8,719 4,373
Other creditors - 76
40,483 41,523

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Directors loan - 76

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following loans from a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
Ian Short
Balance outstanding at start of year - -
Amounts advanced 7,030 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,030 -

10. RELATED PARTY DISCLOSURES

Ian Short has a personal guarantee of £15,000 with the bank.
Jill Short has a personal guarantee of £15,000 with the bank.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Ian Short.