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JMP HEATING LIMITED

Registered Number
08150801
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

JMP HEATING LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

J Pettit

Registered Address

12a Marlborough Place
Brighton
BN1 1WN

Registered Number

08150801 (England and Wales)
JMP HEATING LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets415,19617,884
15,19617,884
Current assets
Debtors58,5468,801
Cash at bank and on hand4,7254,137
13,27112,938
Creditors amounts falling due within one year6(22,699)(18,724)
Net current assets (liabilities)(9,428)(5,786)
Total assets less current liabilities5,76812,098
Creditors amounts falling due after one year7(5,756)(12,089)
Net assets129
Capital and reserves
Called up share capital11
Profit and loss account118
Shareholders' funds129
The financial statements were approved and authorised for issue by the Director on 12 March 2025, and are signed on its behalf by:
J Pettit
Director
Registered Company No. 08150801
JMP HEATING LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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 policy
Turnover represents net invoiced sales of goods and services, excluding value added tax.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortized evenly over its estimated useful life of five years.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Vehicles15-
Office Equipment-3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 September 2310,00010,000
At 31 August 2410,00010,000
Amortisation and impairment
At 01 September 2310,00010,000
At 31 August 2410,00010,000
Net book value
At 31 August 24--
At 31 August 23--
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 September 2355429,0384,26233,854
At 31 August 2455429,0384,26233,854
Depreciation and impairment
At 01 September 2350311,2054,26215,970
Charge for year132,675-2,688
At 31 August 2451613,8804,26218,658
Net book value
At 31 August 243815,158-15,196
At 31 August 235117,833-17,884
5.Debtors: amounts due within one year

2024

2023

££
Other debtors8,0738,363
Prepayments and accrued income473438
Total8,5468,801
6.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts2,5002,500
Taxation and social security16,68412,537
Finance lease and HP contracts3,2763,025
Other creditors239662
Total22,69918,724
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts3,1356,192
Other creditors2,6215,897
Total5,75612,089
8.Directors advances, credits and guarantees
At the year end the director owed the company £8,073 (2023: £8,363).
9.Related party transactions
During the year, total dividends of £24,700 (2023: £21,610) were paid to the director.
10.Controlling party
The company is controlled by its director, J Pettit, by virtue of his ownership of 100% of the issued share capital.