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Registered number: 10082558
J K Heat Pump Services Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
MBL Business Services Ltd
Moushill Rough
Sandy Lane
Godalming
Surrey
GU8 5BL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10082558
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 50,457 26,488
50,457 26,488
CURRENT ASSETS
Stocks 5 13,950 20,000
Debtors 6 16,678 15,528
Cash at bank and in hand 31,114 6,081
61,742 41,609
Creditors: Amounts Falling Due Within One Year 7 (52,052 ) (27,460 )
NET CURRENT ASSETS (LIABILITIES) 9,690 14,149
TOTAL ASSETS LESS CURRENT LIABILITIES 60,147 40,637
Creditors: Amounts Falling Due After More Than One Year 8 (23,349 ) (19,028 )
NET ASSETS 36,798 21,609
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 36,698 21,509
SHAREHOLDERS' FUNDS 36,798 21,609
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mr Jonathan Keeling
Director
16/04/2024
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
J K Heat Pump Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10082558 . The registered office is Moushill Rough, Sandy Lane, Milford, Godalming, Surrey, GU8 5BL.
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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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
Computer Equipment 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.
...CONTINUED
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2.6. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 5 4
5 4
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 46,019 6,138 52,157
Additions 29,373 2,090 31,463
As at 31 March 2024 75,392 8,228 83,620
Depreciation
As at 1 April 2023 21,602 4,067 25,669
Provided during the period 6,847 647 7,494
As at 31 March 2024 28,449 4,714 33,163
Net Book Value
As at 31 March 2024 46,943 3,514 50,457
As at 1 April 2023 24,417 2,071 26,488
5. Stocks
2024 2023
£ £
Stock 13,950 20,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 15,019 12,574
Other debtors 1,659 2,954
16,678 15,528
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 12,763 3,094
Trade creditors 12,641 3,797
Corporation tax 18,425 15,388
Other taxes and social security 4,186 -
VAT 2,684 4,966
Other creditors 444 -
Accrued expenses 215 215
Directors' loan accounts 694 -
52,052 27,460
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 23,349 19,028
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 12,763 3,094
Later than one year and not later than five years 23,349 19,028
36,112 22,122
36,112 22,122
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
80 Ordinary Shares of £ 1 each 80 80
20 Ordinary A shares of £ 1 each 20 20
100 100
11. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 72,500 64,000
12. Ultimate Controlling Party
The company's ultimate controlling party is Jonathan Keeling by virtue of his ownership of 80% of the issued share capital in the company.
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