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Registration number: 14592209

JLW Plumbing & Heating Ltd

Annual Report and

Unaudited Financial Statements


for the Period from 14 January 2023 to 31 January 2024

 

JLW Plumbing & Heating Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

JLW Plumbing & Heating Ltd

Company Information

Director

Mr J Went

Registered office


25 Cales Avenue
Malvern
WR14 1PT

 

Bankers

Starling Bank
3rd Floor
2 Finsbury Avenue
London
EC2M 2PP
 

Accountants


W J James & Co
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

JLW Plumbing & Heating Ltd

(Registration number: 14592209)

Balance Sheet
as at 31 January 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

8,138

Current assets

 

Debtors

5

4,755

Cash at bank and in hand

 

4,861

 

9,616

Creditors: Amounts falling due within one year

6

(22,226)

Net current liabilities

 

(12,610)

Net liabilities

 

(4,472)

Capital and reserves

 

Profit and loss account

(4,472)

Total equity

 

(4,472)

For the financial period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 25 October 2024
 

.........................................

Mr J Went

Director

 

JLW Plumbing & Heating Ltd

Notes to the Financial Statements
for the Period from 14 January 2023 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
25 Cales Avenue
Malvern
WR14 1PT

These financial statements were authorised for issue by the director on 25 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The accounts have been prepared on the going concern basis on the principal that the director will continue to offer his financial support.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

JLW Plumbing & Heating Ltd

Notes to the Financial Statements
for the Period from 14 January 2023 to 31 January 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Fixtures and fittings

20% reducing balance

Computer equipment

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

JLW Plumbing & Heating Ltd

Notes to the Financial Statements
for the Period from 14 January 2023 to 31 January 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 3.

 

JLW Plumbing & Heating Ltd

Notes to the Financial Statements
for the Period from 14 January 2023 to 31 January 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

Additions

213

220

589

10,000

11,022

At 31 January 2024

213

220

589

10,000

11,022

Depreciation

Charge for the period

44

46

201

2,593

2,884

At 31 January 2024

44

46

201

2,593

2,884

Carrying amount

At 31 January 2024

169

174

388

7,407

8,138

5

Debtors

2024
£

Trade debtors

749

Prepayments

1,048

Other debtors

2,958

4,755

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Bank loans and overdrafts

7

10,000

Trade creditors

 

7,592

Taxation and social security

 

457

Accruals and deferred income

 

3,550

Other creditors

 

627

 

22,226

 

JLW Plumbing & Heating Ltd

Notes to the Financial Statements
for the Period from 14 January 2023 to 31 January 2024

7

Loans and borrowings

2024
£

Current loans and borrowings

HP and finance lease liabilities

10,000