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REGISTERED NUMBER: 07518634 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

IBA GAS MAINTENANCE LIMITED

IBA GAS MAINTENANCE LIMITED (REGISTERED NUMBER: 07518634)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

IBA GAS MAINTENANCE LIMITED

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTORS: I B Ashton
Mrs K P Ashton





REGISTERED OFFICE: 25 Baytree Road
Clayton Le Woods
Chorley
Lancashire
PR6 7JW





REGISTERED NUMBER: 07518634 (England and Wales)





ACCOUNTANTS: Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House
3 East Terrace Business Park
Euxton Lane, Euxton
Chorley
Lancashire
PR7 6TB

IBA GAS MAINTENANCE LIMITED (REGISTERED NUMBER: 07518634)

BALANCE SHEET
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 411,887 258,161
411,887 258,161

CURRENT ASSETS
Debtors 7 139,605 166,074
Cash at bank 101,847 57,202
241,452 223,276
CREDITORS
Amounts falling due within one year 8 111,703 97,456
NET CURRENT ASSETS 129,749 125,820
TOTAL ASSETS LESS CURRENT
LIABILITIES

541,636

383,981

CREDITORS
Amounts falling due after more than one
year

9

(208,498

)

(105,848

)

PROVISIONS FOR LIABILITIES (61,116 ) (53,413 )
NET ASSETS 272,022 224,720

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 271,922 224,620
SHAREHOLDERS' FUNDS 272,022 224,720

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

IBA GAS MAINTENANCE LIMITED (REGISTERED NUMBER: 07518634)

BALANCE SHEET - continued
29 February 2024


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 Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





I B Ashton - Director


IBA GAS MAINTENANCE LIMITED (REGISTERED NUMBER: 07518634)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

IBA Gas Maintenance Limited is a private company, limited by shares, registered in England and Wales. The registered office address can be found on the company information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS102 section 1A for small entities. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The principle accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and have also been consistently applied within the same accounts.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Income recognition
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

Goodwill and intangibles
Goodwill is capitalised and has been amortised over its useful life of 10 years.

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 - 10% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other intangible assets. The related obligations, net of future finance charges, are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

IBA GAS MAINTENANCE LIMITED (REGISTERED NUMBER: 07518634)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 10,500
AMORTISATION
At 1 March 2023
and 29 February 2024 10,500
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

IBA GAS MAINTENANCE LIMITED (REGISTERED NUMBER: 07518634)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024


6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 100,486 11,952 297,829 28,378 438,645
Additions - - 193,030 3,172 196,202
At 29 February 2024 100,486 11,952 490,859 31,550 634,847
DEPRECIATION
At 1 March 2023 31,624 5,806 130,519 12,535 180,484
Charge for year 4,616 1,229 33,462 3,169 42,476
At 29 February 2024 36,240 7,035 163,981 15,704 222,960
NET BOOK VALUE
At 29 February 2024 64,246 4,917 326,878 15,846 411,887
At 28 February 2023 68,862 6,146 167,310 15,843 258,161

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 132,170 160,491
Other debtors 7,435 5,583
139,605 166,074

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,000 9,769
Trade creditors 156 -
Taxation and social security 76,468 62,499
Other creditors 25,079 25,188
111,703 97,456

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 12,904 23,135
Other creditors 195,594 82,713
208,498 105,848

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I B Ashton.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
IBA GAS MAINTENANCE LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of IBA Gas Maintenance Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of IBA Gas Maintenance Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of IBA Gas Maintenance Limited and state those matters that we have agreed to state to the Board of Directors of IBA Gas Maintenance Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IBA Gas Maintenance Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that IBA Gas Maintenance Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of IBA Gas Maintenance Limited. You consider that IBA Gas Maintenance Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of IBA Gas Maintenance Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House
3 East Terrace Business Park
Euxton Lane, Euxton
Chorley
Lancashire
PR7 6TB


13 November 2024