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REGISTERED NUMBER: 07642512 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2022

FOR

G ONEILL PLUMBING SERVICES LTD

G ONEILL PLUMBING SERVICES LTD (REGISTERED NUMBER: 07642512)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G ONEILL PLUMBING SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2022







DIRECTOR: G D O'Neill





REGISTERED OFFICE: 391 Briercliffe Road
Burnley
Lancashire
BB10 2NL





REGISTERED NUMBER: 07642512 (England and Wales)





ACCOUNTANTS: Ainsworths Limited
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

G ONEILL PLUMBING SERVICES LTD (REGISTERED NUMBER: 07642512)

BALANCE SHEET
31ST MAY 2022

31.5.22 31.5.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,014 29,329

CURRENT ASSETS
Stocks 13,700 13,700
Debtors 5 45,842 43,840
Cash at bank 45,311 51,686
104,853 109,226
CREDITORS
Amounts falling due within one year 6 30,749 24,964
NET CURRENT ASSETS 74,104 84,262
TOTAL ASSETS LESS CURRENT
LIABILITIES

96,118

113,591

CREDITORS
Amounts falling due after more than one
year

7

(48,028

)

(56,040

)

PROVISIONS FOR LIABILITIES (4,183 ) (4,258 )
NET ASSETS 43,907 53,293

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 43,904 53,290
SHAREHOLDERS' FUNDS 43,907 53,293

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

G ONEILL PLUMBING SERVICES LTD (REGISTERED NUMBER: 07642512)

BALANCE SHEET - continued
31ST MAY 2022


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 director and authorised for issue on 6th September 2022 and were signed by:





G D O'Neill - Director


G ONEILL PLUMBING SERVICES LTD (REGISTERED NUMBER: 07642512)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2022


1. STATUTORY INFORMATION

G ONeill Plumbing Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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.

G ONEILL PLUMBING SERVICES LTD (REGISTERED NUMBER: 07642512)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2021
and 31st May 2022 46,606
DEPRECIATION
At 1st June 2021 17,277
Charge for year 7,315
At 31st May 2022 24,592
NET BOOK VALUE
At 31st May 2022 22,014
At 31st May 2021 29,329

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.22 31.5.21
£    £   
Trade debtors 14,206 7,466
Amounts owed by participating interests 31,350 30,900
Other debtors 286 5,474
45,842 43,840

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.22 31.5.21
£    £   
Bank loans and overdrafts 5,000 10,000
Hire purchase contracts 8,013 8,013
Trade creditors 1,680 1,285
Taxation and social security 804 922
Other creditors 15,252 4,744
30,749 24,964

G ONEILL PLUMBING SERVICES LTD (REGISTERED NUMBER: 07642512)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2022


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.22 31.5.21
£    £   
Bank loans 40,000 40,000
Hire purchase contracts 8,028 16,040
48,028 56,040

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 20,000 -

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.22 31.5.21
£    £   
Hire purchase contracts 16,041 24,053

The debts are secured against the assets held under hire purchase.