IBA Gas Maintenance Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07518634 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

IBA GAS MAINTENANCE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

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 Certified Accountants

Vantage House

3 East Terrace Business Park

Euxton Lane, Euxton

Chorley

Lancashire

PR7 6TB

FIXED ASSETS

Intangible assets

5

-

Tangible assets

6

415,840

411,887

415,840

411,887

CURRENT ASSETS

Debtors

7

77,048

139,605

Cash at bank

185,499

101,847

262,547

241,452

CREDITORS

Amounts falling due within one year

8

143,118

111,703

NET CURRENT ASSETS

119,429

129,749

TOTAL ASSETS LESS CURRENT
LIABILITIES

535,269

541,636

CREDITORS

Amounts falling due after more than one year

9

(179,645

)

(208,498

)

PROVISIONS FOR LIABILITIES

(53,136

)

(61,116

)

NET ASSETS

302,488

272,022

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

302,388

271,922

SHAREHOLDERS' FUNDS

302,488

272,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

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 7 November 2025 and were signed on its behalf by:

I B Ashton - Director

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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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.

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 4 (2024 - 5 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2024

and 28 February 2025

10,500

AMORTISATION

At 1 March 2024

and 28 February 2025

10,500

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 March 2024

100,486

11,952

490,859

31,550

634,847

Additions

-

94,845

4,437

99,282

Disposals

-

(23,320

)

-

(23,320

)

At 28 February 2025

100,486

11,952

562,384

35,987

710,809

DEPRECIATION

At 1 March 2024

36,240

7,035

163,981

15,704

222,960

Charge for year

6,425

983

70,645

7,724

85,777

Eliminated on disposal

-

(13,768

)

-

(13,768

)

At 28 February 2025

42,665

8,018

220,858

23,428

294,969

NET BOOK VALUE

At 28 February 2025

57,821

3,934

341,526

12,559

415,840

At 29 February 2024

64,246

4,917

326,878

15,846

411,887

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Trade debtors

66,959

132,170

Other debtors

10,089

7,435

77,048

139,605

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Bank loans and overdrafts

10,000

Hire purchase contracts

33,798

-

Trade creditors

-

156

Taxation and social security

86,070

76,468

Other creditors

13,250

25,079

143,118

111,703

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

28.2.25

29.2.24

£

Bank loans

2,904

12,904

Other creditors

176,741

195,594

179,645

208,498

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I B Ashton.

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 28 February 2025 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 Certified Accountants

Vantage House

3 East Terrace Business Park

Euxton Lane, Euxton

Chorley

Lancashire

PR7 6TB

7 November 2025