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REGISTERED NUMBER: 11510671 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Parsons Plumbing & Heating LP Ltd

Parsons Plumbing & Heating LP Ltd (Registered number: 11510671)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Parsons Plumbing & Heating LP Ltd

Company Information
for the Year Ended 31 March 2022







DIRECTORS: L Parsons
Mrs K Parsons





REGISTERED OFFICE: 6 Braikenridge Road
Bristol
BS4 3SW





REGISTERED NUMBER: 11510671 (England and Wales)





ACCOUNTANTS: R A Leslie & Co. LLP
Chartered Accountants
Gowran House
56 Broad Street
Chipping Sodbury
Bristol
BS37 6AG

Parsons Plumbing & Heating LP Ltd (Registered number: 11510671)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,520 8,680
Tangible assets 5 22,006 8,086
29,526 16,766

CURRENT ASSETS
Debtors 6 13,486 16,482
Cash at bank 42,352 73,513
55,838 89,995
CREDITORS
Amounts falling due within one year 7 12,965 44,901
NET CURRENT ASSETS 42,873 45,094
TOTAL ASSETS LESS CURRENT
LIABILITIES

72,399

61,860

CREDITORS
Amounts falling due after more than one
year

8

(55,000

)

(60,000

)

PROVISIONS FOR LIABILITIES (4,181 ) (1,536 )
NET ASSETS 13,218 324

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 13,118 224
SHAREHOLDERS' FUNDS 13,218 324

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

Parsons Plumbing & Heating LP Ltd (Registered number: 11510671)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 31 August 2022 and were signed on its behalf by:





L Parsons - Director


Parsons Plumbing & Heating LP Ltd (Registered number: 11510671)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Parsons Plumbing & Heating LP 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

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

Parsons Plumbing & Heating LP Ltd (Registered number: 11510671)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 11,600
AMORTISATION
At 1 April 2021 2,920
Charge for year 1,160
At 31 March 2022 4,080
NET BOOK VALUE
At 31 March 2022 7,520
At 31 March 2021 8,680

5. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 April 2021 16,025
Additions 28,686
Disposals (14,963 )
At 31 March 2022 29,748
DEPRECIATION
At 1 April 2021 7,939
Charge for year 7,336
Eliminated on disposal (7,533 )
At 31 March 2022 7,742
NET BOOK VALUE
At 31 March 2022 22,006
At 31 March 2021 8,086

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 11,756 16,482
VAT 1,730 -
13,486 16,482

Parsons Plumbing & Heating LP Ltd (Registered number: 11510671)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade creditors 1,428 20,377
Corporation tax 10,193 13,524
Social security and other taxes 701 1,034
VAT - 7,999
Directors' current accounts 643 1,967
12,965 44,901

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Directors' loan accounts 55,000 60,000