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REGISTERED NUMBER: 03570079 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

PREMIER PLUMBING & HEATING SUPPLIES LTD

PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)






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


PREMIER PLUMBING & HEATING SUPPLIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: M R Hammond
P K Hammond
J G Noble





SECRETARY: M R Hammond





REGISTERED OFFICE: 124 High Street
Midsomer Norton
Bath
BA3 2DA





REGISTERED NUMBER: 03570079 (England and Wales)





ACCOUNTANTS: PG Owen Limited
Chartered Accountants
124 High Street
Midsomer Norton
Bath
BA3 2DA

PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 31,791 36,552
Investments 6 201 201
31,992 36,753

CURRENT ASSETS
Stocks 244,691 170,565
Debtors 7 263,737 230,081
Investments 8 2,550 2,550
Cash at bank and in hand 223,971 202,051
734,949 605,247
CREDITORS
Amounts falling due within one year 9 370,506 310,717
NET CURRENT ASSETS 364,443 294,530
TOTAL ASSETS LESS CURRENT
LIABILITIES

396,435

331,283

PROVISIONS FOR LIABILITIES 10 7,766 6,875
NET ASSETS 388,669 324,408

CAPITAL AND RESERVES
Called up share capital 1,080 1,080
Retained earnings 387,589 323,328
SHAREHOLDERS' FUNDS 388,669 324,408

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.

PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)

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 12 August 2022 and were signed on its behalf by:




M R Hammond - Director



P K Hammond - Director


PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Premier Plumbing & Heating Supplies 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 2009, is being amortised evenly over its estimated useful life of five 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.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Fixed asset investments
Investments in subsidiary undertakings are stated at cost less any provisions for impairment in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2021 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 2,500
AMORTISATION
At 1 April 2021
and 31 March 2022 2,500
NET BOOK VALUE
At 31 March 2022 -
At 31 March 2021 -

PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2021 7,550 5,515 30,028
Additions - - -
At 31 March 2022 7,550 5,515 30,028
DEPRECIATION
At 1 April 2021 5,221 3,536 23,721
Charge for year 259 297 947
At 31 March 2022 5,480 3,833 24,668
NET BOOK VALUE
At 31 March 2022 2,070 1,682 5,360
At 31 March 2021 2,329 1,979 6,307

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2021 44,253 64,782 152,128
Additions - 677 677
At 31 March 2022 44,253 65,459 152,805
DEPRECIATION
At 1 April 2021 20,263 62,835 115,576
Charge for year 2,486 1,449 5,438
At 31 March 2022 22,749 64,284 121,014
NET BOOK VALUE
At 31 March 2022 21,504 1,175 31,791
At 31 March 2021 23,990 1,947 36,552

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2021
and 31 March 2022 201
NET BOOK VALUE
At 31 March 2022 201
At 31 March 2021 201

PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 237,587 204,517
Directors' current accounts 19,701 19,114
Prepayments and accrued income 6,449 6,450
263,737 230,081

8. CURRENT ASSET INVESTMENTS
2022 2021
£    £   
Unlisted investments 2,550 2,550

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 307,577 232,728
Tax 47,504 44,628
Social security and other taxes 320 18,237
Other creditors 392 530
Directors' current accounts 10,463 10,469
Accrued expenses 4,250 4,125
370,506 310,717

10. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 7,766 6,875

Deferred
tax
£   
Balance at 1 April 2021 6,875
Charge to Income Statement during year 891
Balance at 31 March 2022 7,766

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
M R Hammond
Balance outstanding at start of year 19,114 18,502
Amounts advanced 53,159 60,240
Amounts repaid (52,628 ) (59,628 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,645 19,114

PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)

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

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

The above amount was repaid during the next period.

12. RELATED PARTY DISCLOSURES

The company was under the control of the Directors throughout this and the previous period.
Where applicable, interest is charged on overdrawn directors' loan account balances at the official rate.

During the year the directors made the following purchases from the business, at arms length:

P Hammond £159 (2021:£1,316); M Hammond £179 (2021:£367); J Noble £1,481 (2021:£521)