Registered number
04508984
PJ Margle Heating Ltd
Filleted Accounts
31 August 2024
PJ Margle Heating Ltd
Registered number: 04508984
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 67,329 1,279
Current assets
Stocks 21,243 15,000
Debtors 4 149,403 179,362
Cash at bank and in hand 234,933 244,014
405,579 438,376
Creditors: amounts falling due within one year 5 (72,027) (90,217)
Net current assets 333,552 348,159
Total assets less current liabilities 400,881 349,438
Provisions for liabilities (16,832) (320)
Net assets 384,049 349,118
Capital and reserves
Called up share capital 200 200
Profit and loss account 383,849 348,918
Shareholders' funds 384,049 349,118
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Margle
Director
Approved by the board on 22 October 2024
PJ Margle Heating Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 13,107 53,580 66,687
Additions 1,593 86,956 88,549
Disposals - 208 208
At 31 August 2024 14,700 140,744 155,444
Depreciation
At 1 September 2023 11,828 53,580 65,408
Charge for the year 916 21,791 22,707
At 31 August 2024 12,744 75,371 88,115
Net book value
At 31 August 2024 1,956 65,373 67,329
At 31 August 2023 1,279 - 1,279
4 Debtors 2024 2023
£ £
Trade debtors 135,648 167,086
Other debtors 13,755 12,276
149,403 179,362
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 43,276 22,702
Taxation and social security costs 18,884 45,210
Other creditors 9,867 22,305
72,027 90,217
6 Related party transactions
As at the balance sheet date the company owed Mr S Margle (Director and Shareholder) £4,072 (2023: £17,422).
7 Other information
PJ Margle Heating Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Bluegates
Bardfield End Green
Thaxted
Essex
CM6 3PY
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