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Registration number: 09195309

South Coast Plumbing And Heating (SB) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2021

image-name
 

South Coast Plumbing And Heating (SB) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

South Coast Plumbing And Heating (SB) Limited

Company Information

Director

Mr Steven Beadle

Registered office

Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

South Coast Plumbing And Heating (SB) Limited

(Registration number: 09195309)
Balance Sheet as at 31 August 2021

Note

2021
 £

2020
 £

Fixed Assets

 

Tangible Assets

5

1,761

1,950

Current assets

 

Debtors

6

17,926

886

Cash at bank and in hand

 

13,134

1,807

 

31,060

2,693

Creditors: Amounts falling due within one year

7

(10,696)

(3,696)

Net current assets/(liabilities)

 

20,364

(1,003)

Total assets less current liabilities

 

22,125

947

Creditors: Amounts falling due after more than one year

7

(12,750)

-

Provisions for liabilities

(335)

(370)

Net assets

 

9,040

577

Capital and Reserves

 

Called up share capital

1

1

Profit and loss account

9,039

576

Total equity

 

9,040

577

For the financial year ending 31 August 2021 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 his 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 15 August 2022
 

 

South Coast Plumbing And Heating (SB) Limited

(Registration number: 09195309)
Balance Sheet as at 31 August 2021

.........................................
Mr Steven Beadle
Director

 

South Coast Plumbing And Heating (SB) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021

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:
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF
England

These financial statements were authorised for issue by the director on 15 August 2022.

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 presented in Sterling, which is the functional currency of the company.

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.

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.

 

South Coast Plumbing And Heating (SB) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021

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

Reducing Balance 20%

Motor Vehicles

Reducing Balance 20%

Computer Equipment

Straight Line 33%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

South Coast Plumbing And Heating (SB) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021

Borrowings

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 profit and loss account 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:

2021
 No.

2020
 No.

Administration and support

2

2

2

2

 

South Coast Plumbing And Heating (SB) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021

4

Profit before tax

Arrived at after charging/(crediting)

2021
£

2020
£

Depreciation expense

440

487

5

Tangible Assets

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 September 2020

6,995

327

7,322

Additions

-

252

252

At 31 August 2021

6,995

579

7,574

Depreciation

At 1 September 2020

5,161

211

5,372

Charge for the year

367

74

441

At 31 August 2021

5,528

285

5,813

Carrying amount

At 31 August 2021

1,467

294

1,761

At 31 August 2020

1,834

116

1,950

6

Debtors

Current

2021
£

2020
£

Trade Debtors

-

886

Other debtors

17,926

-

 

17,926

886

 

South Coast Plumbing And Heating (SB) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021

7

Creditors

Creditors: amounts falling due within one year

Note

2021
 £

2020
 £

Due within one year

 

Loans and borrowings

8

2,250

17

Social security and other taxes

 

217

-

Other payables

 

-

1

Accrued expenses

 

930

900

Corporation tax liability

7,299

2,778

 

10,696

3,696

Due after one year

 

Loans and borrowings

8

12,750

-

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

8

12,750

-

8

Loans and borrowings

2021
 £

Non-current loans and borrowings

Bank borrowings

12,750

2021
 £

2020
 £

Current loans and borrowings

Bank borrowings

2,250

-

Other borrowings

-

17

2,250

17