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REGISTERED NUMBER: 07482321 (England and Wales)













Financial Statements

for the Year Ended 31 March 2023

for

RLG. Plumbing & Heating Ltd

RLG. Plumbing & Heating Ltd (Registered number: 07482321)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


RLG. Plumbing & Heating Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: R L Grundy
G Reed
Mrs M S Reed



REGISTERED OFFICE: 5 Ravenwood
Washingborough
LINCOLN
Lincolnshire
LN4 1TS



REGISTERED NUMBER: 07482321 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: HSBC
Cathedral Square
PETERBOROUGH
Cambridgeshire
PE1 1XL

RLG. Plumbing & Heating Ltd (Registered number: 07482321)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 22,678 27,839
22,678 27,839

CURRENT ASSETS
Stocks 2,200 2,200
Debtors 6 171,186 214,837
Cash at bank 446,818 363,795
620,204 580,832
CREDITORS
Amounts falling due within one year 7 149,746 182,636
NET CURRENT ASSETS 470,458 398,196
TOTAL ASSETS LESS CURRENT
LIABILITIES

493,136

426,035

PROVISIONS FOR LIABILITIES 3,791 4,726
NET ASSETS 489,345 421,309

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 489,245 421,209
SHAREHOLDERS' FUNDS 489,345 421,309

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

RLG. Plumbing & Heating Ltd (Registered number: 07482321)

Statement of Financial Position - continued
31 March 2023


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 16 August 2023 and were signed on its behalf by:





R L Grundy - Director


RLG. Plumbing & Heating Ltd (Registered number: 07482321)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

RLG. Plumbing & Heating 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 2014, was 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.
Plant and machinery - 25% on reducing balance and 10% on reducing balance
Computer equipment - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.


RLG. Plumbing & Heating Ltd (Registered number: 07482321)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

RLG. Plumbing & Heating Ltd (Registered number: 07482321)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 30,600
AMORTISATION
At 1 April 2022
and 31 March 2023 30,600
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2022 48,964 - 48,964
Additions - 958 958
At 31 March 2023 48,964 958 49,922
DEPRECIATION
At 1 April 2022 21,125 - 21,125
Charge for year 5,939 180 6,119
At 31 March 2023 27,064 180 27,244
NET BOOK VALUE
At 31 March 2023 21,900 778 22,678
At 31 March 2022 27,839 - 27,839

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 129,836 187,034
Directors' current accounts 19,869 10,341
VAT 17,653 16,496
Prepayments and accrued income 3,828 966
171,186 214,837

RLG. Plumbing & Heating Ltd (Registered number: 07482321)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 97,445 118,588
Tax 45,864 55,764
Social security and other taxes 3,187 4,470
Directors' current accounts - 564
Accruals and deferred income 3,250 3,250
149,746 182,636

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
G Reed
Balance outstanding at start of year 10,341 -
Amounts advanced 9,281 10,341
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,622 10,341

R L Grundy
Balance outstanding at start of year - -
Amounts advanced 247 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 247 -

9. RELATED PARTY DISCLOSURES

Included within creditors are directors loan account balances of 2023: £0 (2022: £564) which are unsecured and interest has been charged at HMRC rates..