Acorah Software Products - Accounts Production 15.0.600 false true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 SC328756 Ivan Veverka Ivan Veverka iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC328756 2022-08-31 SC328756 2023-08-31 SC328756 2022-09-01 2023-08-31 SC328756 frs-core:CurrentFinancialInstruments 2023-08-31 SC328756 frs-core:FurnitureFittings 2023-08-31 SC328756 frs-core:FurnitureFittings 2022-09-01 2023-08-31 SC328756 frs-core:FurnitureFittings 2022-08-31 SC328756 frs-core:MotorVehicles 2023-08-31 SC328756 frs-core:MotorVehicles 2022-09-01 2023-08-31 SC328756 frs-core:MotorVehicles 2022-08-31 SC328756 frs-core:PlantMachinery 2023-08-31 SC328756 frs-core:PlantMachinery 2022-09-01 2023-08-31 SC328756 frs-core:PlantMachinery 2022-08-31 SC328756 frs-core:WithinOneYear 2023-08-31 SC328756 frs-core:ShareCapital 2023-08-31 SC328756 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 SC328756 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 SC328756 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 SC328756 frs-bus:SmallEntities 2022-09-01 2023-08-31 SC328756 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 SC328756 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 SC328756 frs-bus:Director1 2022-09-01 2023-08-31 SC328756 frs-bus:CompanySecretary1 2022-09-01 2023-08-31 SC328756 frs-countries:Scotland 2022-09-01 2023-08-31 SC328756 2021-08-31 SC328756 2022-08-31 SC328756 2021-09-01 2022-08-31 SC328756 frs-core:CurrentFinancialInstruments 2022-08-31 SC328756 frs-core:WithinOneYear 2022-08-31 SC328756 frs-core:ShareCapital 2022-08-31 SC328756 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31
Registered number: SC328756
Jv Heating (Scotland) Limited
Unaudited Financial Statements
For The Year Ended 31 August 2023
14 Newton Place
Glasgow
G3 7PY
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC328756
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,772 26,695
17,772 26,695
CURRENT ASSETS
Stocks 5 7,890 4,713
Debtors 6 17,125 17,560
Cash at bank and in hand 38,212 4,357
63,227 26,630
Creditors: Amounts Falling Due Within One Year 7 (63,632 ) (45,080 )
NET CURRENT ASSETS (LIABILITIES) (405 ) (18,450 )
TOTAL ASSETS LESS CURRENT LIABILITIES 17,367 8,245
PROVISIONS FOR LIABILITIES
Deferred Taxation (417 ) (314 )
NET ASSETS 16,950 7,931
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 16,948 7,929
SHAREHOLDERS' FUNDS 16,950 7,931
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Page 2
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ivan Veverka
Director
18/01/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Jv Heating (Scotland) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC328756 . The registered office is 14 Newton Place, C/O Gallone & Co, Glasgow, G3 7PY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 September 2022 1,017 45,835 5,398 52,250
Disposals - (16,845 ) - (16,845 )
As at 31 August 2023 1,017 28,990 5,398 35,405
Depreciation
As at 1 September 2022 967 20,095 4,493 25,555
Provided during the period 13 5,686 226 5,925
Disposals - (13,847 ) - (13,847 )
As at 31 August 2023 980 11,934 4,719 17,633
Net Book Value
As at 31 August 2023 37 17,056 679 17,772
As at 1 September 2022 50 25,740 905 26,695
5. Stocks
2023 2022
£ £
Work in progress 7,890 4,713
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 17,125 14,453
VAT - 3,107
17,125 17,560
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 16,767 24,788
Trade creditors 20,572 2,853
Corporation tax 7,466 6,006
Other taxes and social security - 252
VAT 2,958 -
Other creditors 4,053 2,167
Director's loan account 11,816 9,014
63,632 45,080
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8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,767 24,788
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
10. Related Party Transactions
During the year the following loans were made from the director to the company:
Opening balance - £9,014
Loan from director - £2,802
Closing balance - £11,816
The loan is made interest free and is repayable on demand.
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