JPL Heating & Plumbing Ltd

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 7

JPL Heating & Plumbing Ltd

(Registration number: 16095019)
Statement of Financial Position as at 30 November 2025

	Note	2025 £
Fixed assets
Tangible assets	4	14,180
Current assets
Debtors	5	42,174
Creditors: Amounts falling due within one year	6	(18,692)
Net current assets		23,482
Total assets less current liabilities		37,662
Creditors: Amounts falling due after more than one year	6	(11,548)
Net assets		26,114
Capital and reserves
Called up share capital		100
Profit and loss account		26,014
Shareholders' funds		26,114

For the financial period ending 30 November 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 accounts for the period in question in accordance with section 476; and
•	The directors acknowledge 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 and 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 directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 19 August 2026 and signed on its behalf by:
 

James Patrick Lee Director

JPL Heating & Plumbing Ltd

Notes to the Unaudited Financial Statements for the Period from 22 November 2024 to 30 November 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Timberly
South Street
Axminster
Devon
EX13 5AD

Principal activity

The principal activity of the company is plumbing, heat and air-conditioning installation

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.

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

Disclosure of long or short period

The financial statements have been prepared for a period longer than twelve months as this is the first year of trade for the company. Therefore in the following period the prior year figures presented will not be entirely comparable.

Going concern

The financial statements have been prepared on a going concern basis.

JPL Heating & Plumbing Ltd

Notes to the Unaudited Financial Statements for the Period from 22 November 2024 to 30 November 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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 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.

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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% reducing balance
Motor Vehicles	25% reducing balance

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.

Borrowings

JPL Heating & Plumbing Ltd

Notes to the Unaudited Financial Statements for the Period from 22 November 2024 to 30 November 2025 (continued)

2	Accounting policies (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

JPL Heating & Plumbing Ltd

Notes to the Unaudited Financial Statements for the Period from 22 November 2024 to 30 November 2025 (continued)

4	Tangible assets

	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
Additions	457	18,990	19,447
At 30 November 2025	457	18,990	19,447
Depreciation
Charge for the period	124	5,143	5,267
At 30 November 2025	124	5,143	5,267
Carrying amount
At 30 November 2025	333	13,847	14,180

5

Debtors

	2025 £
Trade debtors	2,841
Other debtors	38,100
Prepayments	1,233
	42,174

JPL Heating & Plumbing Ltd

Notes to the Unaudited Financial Statements for the Period from 22 November 2024 to 30 November 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £
Due within one year
Loans and borrowings	8	4,660
Taxation and social security		11,077
Accruals and deferred income		2,955
		18,692

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £3,455.

Creditors: amounts falling due after more than one year

	Note	2025 £
Due after one year
Loans and borrowings	8	11,548

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £11,548.

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

JPL Heating & Plumbing Ltd

Notes to the Unaudited Financial Statements for the Period from 22 November 2024 to 30 November 2025 (continued)

8	Loans and borrowings

Non-current loans and borrowings

	2025 £
Hire purchase contracts	11,548

Current loans and borrowings

	2025 £
Bank overdrafts	1,205
Hire purchase contracts	3,455
	4,660

9	Related party transactions

Transactions with directors

2025	At 22 November 2024 £	Advances to director £	At 30 November 2025 £
Directors' loan account	-	38,099	38,099

Overdrawn Directors loans are repayable upon demand, and interest is charged on the overdrawn balance at the official rate.