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Registration number: 11317681

JMF Heating & Plumbing Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

JMF Heating & Plumbing Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

JMF Heating & Plumbing Ltd

Company Information

Director

Mr J M Finlay

Registered office

21 Lancelot Way
Amesbury
Salisbury
Wiltshire
SP4 7FZ

Accountants

Numeric Accounting
Chartered Certified Accountants
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

JMF Heating & Plumbing Ltd

(Registration number: 11317681)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,533

5,144

Current assets

 

Stocks

5

390

735

Debtors

6

10,934

6,595

Cash at bank and in hand

 

23,565

25,100

 

34,889

32,430

Creditors: Amounts falling due within one year

7

(35,052)

(34,426)

Net current liabilities

 

(163)

(1,996)

Total assets less current liabilities

 

3,370

3,148

Provisions for liabilities

(671)

(977)

Net assets

 

2,699

2,171

Capital and reserves

 

Called up share capital

8

110

110

Retained earnings

2,589

2,061

Shareholders' funds

 

2,699

2,171

For the financial 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.

Director's responsibilities:

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

The director acknowledges their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

JMF Heating & Plumbing Ltd

(Registration number: 11317681)
Balance Sheet as at 31 March 2024 (continued)

Approved and authorised by the director on 28 November 2024
 

.........................................
Mr J M Finlay
Director

 

JMF Heating & Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
21 Lancelot Way
Amesbury
Salisbury
Wiltshire
SP4 7FZ

These financial statements were authorised for issue by the director on 28 November 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.

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 and deferred 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.

 

JMF Heating & Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

25% Straight Line

Motor Vehicles

25% Reducing Balance

Computer Equipment

33% Straight Line

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.

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.

 

JMF Heating & Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. Anarrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 2).

 

JMF Heating & Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

5,688

1,715

6,470

13,873

Additions

473

-

-

473

At 31 March 2024

6,161

1,715

6,470

14,346

Depreciation

At 1 April 2023

3,904

189

4,636

8,729

Charge for the year

1,059

566

459

2,084

At 31 March 2024

4,963

755

5,095

10,813

Carrying amount

At 31 March 2024

1,198

960

1,375

3,533

At 31 March 2023

1,784

1,526

1,834

5,144

5

Stocks

2024
£

2023
£

Other inventories

390

735

6

Debtors

Current

2024
£

2023
£

Trade debtors

6,013

5,557

Prepayments

486

390

Other debtors

4,435

648

 

10,934

6,595

 

JMF Heating & Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

6,864

5,869

Other creditors

28,188

28,557

35,052

34,426

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

Ordinary B of £1 each

10

10

10

10

110

110

110

110

9

Dividends

2024

2023

£

£

Interim dividend of £250.00 (2023 - £275.00) per ordinary share

25,735

27,500

 

 

10

Related party transactions

 

JMF Heating & Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

10

Related party transactions (continued)

Transactions with the director

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr J M Finlay

Mr J M Finlay

28,050

(31,088)

25,520

22,482

 

JMF Heating & Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

10

Related party transactions (continued)

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,570

Dividends paid to the director

2024
£

2023
£

Mr J M Finlay

Mr J M Finlay

25,000

27,500