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REGISTERED NUMBER: SC389952 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

J G M Heating Services Ltd

J G M Heating Services Ltd (Registered number: SC389952)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J G M Heating Services Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: M Grant





REGISTERED OFFICE: Unit 3, Morris Park
Glasgow
G5 0YE





REGISTERED NUMBER: SC389952 (Scotland)





ACCOUNTANTS: KPP Glasgow South Ltd
Chartered Certified Accountants
Unit 3 , 37 Rosyth Road
Morris Park
Glasgow
G5 0YE

J G M Heating Services Ltd (Registered number: SC389952)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,004 10,547

CURRENT ASSETS
Stocks 5 10,858 9,201
Debtors 6 10,269 8,200
Cash at bank and in hand 4,670 15,134
25,797 32,535
CREDITORS
Amounts falling due within one year 7 53,461 54,576
NET CURRENT LIABILITIES (27,664 ) (22,041 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(19,660

)

(11,494

)

CREDITORS
Amounts falling due after more than one
year

8

16,881

9,714
NET LIABILITIES (36,541 ) (21,208 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (36,543 ) (21,210 )
SHAREHOLDERS' FUNDS (36,541 ) (21,208 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

J G M Heating Services Ltd (Registered number: SC389952)

Balance Sheet - continued
31 December 2023


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 director and authorised for issue on 4 April 2024 and were signed by:





M Grant - Director


J G M Heating Services Ltd (Registered number: SC389952)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

J G M Heating Services Ltd is a private company, limited by shares , registered in Scotland. 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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 810 41,572 1,328 43,710
DEPRECIATION
At 1 January 2023 550 31,967 646 33,163
Charge for year 39 2,401 103 2,543
At 31 December 2023 589 34,368 749 35,706
NET BOOK VALUE
At 31 December 2023 221 7,204 579 8,004
At 31 December 2022 260 9,605 682 10,547

J G M Heating Services Ltd (Registered number: SC389952)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. STOCKS
31.12.23 31.12.22
£    £   
Stocks 2,865 2,715
Work-in-progress 7,993 6,486
10,858 9,201

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,350 1,200
Associated Company 6,500 6,500
VAT 2,419 500
10,269 8,200

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 2,400 4,800
Trade creditors 4,351 3,740
Tax 14,989 16,576
Social security and other taxes 3,555 5,029
Other creditors 19,683 17,948
Accrued expenses 8,483 6,483
53,461 54,576

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other loans - 1-2 years 16,881 9,714