REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2022 TO 30 APRIL 2023 |
FOR |
MORGANS PLUMBING & HEATING LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2022 TO 30 APRIL 2023 |
FOR |
MORGANS PLUMBING & HEATING LTD |
MORGANS PLUMBING & HEATING LTD (REGISTERED NUMBER: 08060405) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2022 TO 30 APRIL 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MORGANS PLUMBING & HEATING LTD |
COMPANY INFORMATION |
FOR THE PERIOD 1 JUNE 2022 TO 30 APRIL 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Obsidian Offices |
Chantry Court |
Chester |
Cheshire |
CH1 4QN |
MORGANS PLUMBING & HEATING LTD (REGISTERED NUMBER: 08060405) |
ABRIDGED BALANCE SHEET |
30 APRIL 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
MORGANS PLUMBING & HEATING LTD (REGISTERED NUMBER: 08060405) |
ABRIDGED BALANCE SHEET - continued |
30 APRIL 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
MORGANS PLUMBING & HEATING LTD (REGISTERED NUMBER: 08060405) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2022 TO 30 APRIL 2023 |
1. | STATUTORY INFORMATION |
Morgans Plumbing and Heating Ltd (company number 08080405) is a private company limited by shares, registered in England and Wales. Its registered office is Mc24 Maes Y Clawdd Industrial Estate, Oswestry, Shropshire SY10 8NN. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention. The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, and therefore, continues to adopt the going concern basis of accounting when preparing the annual financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration receivable and represents amounts receivable for services rendered, stated net of discounts and Value Added Tax. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
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 represents the sum of current and deferred tax. The company's liability for current tax is calculated using rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.Deferred tax liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled, based upon tax rates that have been enacted or substantively enacted by te end of the reporting period. The total charge for the year is shown in the Statement of Income and Retained Earnings. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts are capitalised as tangible fixed assets and are depreciated over their useful lives.Obligations under hire purchase contracts are included in creditors net of the finance charge allocated to future periods. |
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. |
MORGANS PLUMBING & HEATING LTD (REGISTERED NUMBER: 08060405) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JUNE 2022 TO 30 APRIL 2023 |
3. | ACCOUNTING POLICIES - continued |
Employee benefits |
Short term employee benefits , including holiday pay, are recognised as an expense in the Profit and Loss account in the period in which they are incurred. The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pensions costs charge represents contributions payable for the period by the company to the fund. |
Grants |
Grants are only recognised when there is a reasonable assurance that the entity will comply with the conditions of the grant and that the grant will be received. If the grant imposes specific future performance-related conditions, then the grant is only recognised when those conditions are met. If the grant is received before these conditions have been met , then it is recognised as a liability. If there are no future performance-related conditions, then the grant is recognised when the grant proceeds are received. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - Trade debtors. Trade creditors , Directors' loans and Bank loans. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence is found, an impairment loss is recognised in the Profit and Loss account. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 June 2022 |
Additions |
Disposals | ( |
) |
At 30 April 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for period |
Eliminated on disposal | ( |
) |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 31 May 2022 |
Included in cost of land and buildings is freehold land of £ 157,000 (2022 - £ 157,000 ) which is not depreciated. |
MORGANS PLUMBING & HEATING LTD (REGISTERED NUMBER: 08060405) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JUNE 2022 TO 30 APRIL 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
2023 | 2022 |
£ | £ |
Repayable otherwise than by instalments |
Bank loans owing in more |
than 5 year and not payable by |
instalments |
7. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans owing in more |
than 5 year and not payable by |
instalments | - | 270,000 |
- | 270,000 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts | 24,203 | 21,971 |
The hire purchase agreements are secured on the assets concerned. A bank loan is secured by a fixed and floating charge over the company's assets.In addition, there is a limited personal guarantee from the director. |