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Registration number: 11751087










 

Westbourne Plumbing and Heating Services Ltd

Unaudited Financial Statements

for the Year Ended 31 January 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Westbourne Plumbing and Heating Services Ltd

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Westbourne Plumbing and Heating Services Ltd

Company Information

Director

S M Ryan

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Westbourne Plumbing and Heating Services Ltd

Statement of Financial Position as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

3,518

8,242

Current assets

 

Debtors

6

27,067

19,063

Cash at bank and in hand

 

191,242

182,012

 

218,309

201,075

Creditors: Amounts falling due within one year

7

(45,324)

(49,493)

Net current assets

 

172,985

151,582

Total assets less current liabilities

 

176,503

159,824

Creditors: Amounts falling due after more than one year

7

(3,274)

(7,379)

Net assets

 

173,229

152,445

Capital and reserves

 

Called up share capital

2

2

Retained earnings

173,227

152,443

Shareholders' funds

 

173,229

152,445

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Westbourne Plumbing and Heating Services Ltd

Statement of Financial Position as at 31 January 2023

Approved and authorised by the director on 25 October 2023
 

.........................................

S M Ryan

Director

Company registration number: 11751087

 

Westbourne Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the supply of plumbing and heating services.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Going concern

The company made a profit for the year ended 31 January 2023 and had net assets at that date of £173,229, including cash at bank of £191,242.

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue from plumbing and heating services upon completion of the work.

Government grants

Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Westbourne Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Westbourne Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Finance leases and hire purchase

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation.

Lease payments are apportioned between finance costs in the Income Statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Assets held under hire purchase contracts are capitalised at the lesser of fair value or present value of minimum lease payments in the statement of financial position. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. A corresponding liability is recognised at the same value in the statement of financial position. The asset is then depreciated over its useful life.

The minimum lease payments are apportioned between the finance charge recognised in the income statement and the reduction of the outstanding liability using the effective interest method. The finance charge in each period is allocated so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, was 1 (2022 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

4,724

4,724

 

Westbourne Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

5

Tangible assets

Motor
Vehicles
£

Total
£

Cost or valuation

At 1 February 2022

18,895

18,895

At 31 January 2023

18,895

18,895

Depreciation

At 1 February 2022

10,653

10,653

Charge for the year

4,724

4,724

At 31 January 2023

15,377

15,377

Carrying amount

At 31 January 2023

3,518

3,518

At 31 January 2022

8,242

8,242

6

Debtors

2023
£

2022
£

Trade debtors

20,404

18,696

Other debtors

6,663

367

27,067

19,063

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Hire purchase obligations

4,105

3,827

Trade creditors

17,463

18,499

Taxation and social security

12,903

16,803

Other creditors

10,853

10,364

45,324

49,493

Creditors: amounts falling due after more than one year

2023
£

2022
£

Hire purchase obligations

3,274

7,379

Obligations under hire purchase agreements are secured on the motor vehicle shown in note 5.

 

Westbourne Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

8

Non adjusting events after the financial period

Subsequent to 31 January 2023, dividends amounting to £10,770 were declared and paid.