John Lynn Plumbing & Heating Ltd 28/02/2025 iXBRL

Company registration number: NI622656

John Lynn Plumbing & Heating Ltd

Unaudited filleted financial statements

28 February 2025

John Lynn Plumbing & Heating Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

John Lynn Plumbing & Heating Ltd

Directors and other information


	Directors	Mr John Lynn
		Mrs Veronica Lynn
		Mr Damian Lynn


	Company number	NI622656


	Registered office	44 Mawillian Road
		Coagh
		Cookstown
		BT80 8AQ


	Accountants	PFS Accountants & Auditors Ltd
		19 Kirk Avenue
		Magherafelt
		BT45 6BT




	Bankers	First Trust Bank
		Cookstown
		Co Tyrone

John Lynn Plumbing & Heating Ltd

Report to the board of directors on the preparation of the

unaudited statutory financial statements of John Lynn Plumbing & Heating Ltd

Year ended 28 February 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of John Lynn Plumbing & Heating Ltd for the year ended 28 February 2025 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

This report is made solely to the board of directors of John Lynn Plumbing & Heating Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of John Lynn Plumbing & Heating Ltd and state those matters that we have agreed to state to the board of directors of John Lynn Plumbing & Heating Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than John Lynn Plumbing & Heating Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that John Lynn Plumbing & Heating Ltd 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 John Lynn Plumbing & Heating Ltd. You consider that John Lynn Plumbing & Heating Ltd 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 John Lynn Plumbing & Heating Ltd. 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.

PFS Accountants & Auditors Ltd

Chartered Certified Accountants

19 Kirk Avenue

Magherafelt

BT45 6BT

24 October 2025

John Lynn Plumbing & Heating Ltd

Statement of financial position

28 February 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	1		1
Tangible assets	6	21,806		27,192
		_______		_______
			21,807		27,193

Current assets
Stocks		128,314		297,866
Debtors	7	499,385		381,010
Cash at bank and in hand		387,890		692,806
		_______		_______
		1,015,589		1,371,682
Creditors: amounts falling due
within one year	8	( 389,238)		( 406,667)
		_______		_______
Net current assets			626,351		965,015
			_______		_______
Total assets less current liabilities			648,158		992,208


Provisions for liabilities			( 5,452)		( 6,798)

			_______		_______
Net assets			642,706		985,410
			_______		_______

Capital and reserves
Called up share capital			120		120
Profit and loss account			642,586		985,290
			_______		_______
Shareholders funds			642,706		985,410
			_______		_______

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

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

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 24 October 2025 , and are signed on behalf of the board by:

Mr John Lynn Mr Damian Lynn

Director Director

Company registration number: NI622656

John Lynn Plumbing & Heating Ltd

Notes to the financial statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is John Lynn Plumbing & Heating Ltd, 44 Mawillian Road, Coagh, Cookstown, BT80 8AQ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	20 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	20 %	reducing balance
Fittings fixtures and equipment	-	20 %	reducing balance
Motor vehicles	-	20 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2024: 8 ).

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 29 February 2024 and 28 February 2025	211,726	211,726
	_______	_______
Amortisation
At 29 February 2024 and 28 February 2025	211,725	211,725
	_______	_______
Carrying amount
At 28 February 2025	1	1
	_______	_______
At 28 February 2024	1	1
	_______	_______

6. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 29 February 2024 and 28 February 2025	18,144	1,853	86,626	106,623
	_______	_______	_______	_______
Depreciation
At 29 February 2024	15,558	1,365	62,508	79,431
Charge for the year	517	45	4,824	5,386
	_______	_______	_______	_______
At 28 February 2025	16,075	1,410	67,332	84,817
	_______	_______	_______	_______
Carrying amount
At 28 February 2025	2,069	443	19,294	21,806
	_______	_______	_______	_______
At 28 February 2024	2,586	488	24,118	27,192
	_______	_______	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	473,223	175,345
Other debtors	26,162	205,665
	_______	_______
	499,385	381,010
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	2,917	1,756
Trade creditors	123,725	218,727
Corporation tax	75,006	75,667
Social security and other taxes	19,188	1,897
Other creditors	168,402	108,620
	_______	_______
	389,238	406,667
	_______	_______