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REGISTERED NUMBER: 04201243 (England and Wales)





















PLUMB-LINE CONTRACTING LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






PLUMB-LINE CONTRACTING LIMITED (REGISTERED NUMBER: 04201243)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


PLUMB-LINE CONTRACTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: A Brown





SECRETARY: Mrs A Brown





REGISTERED OFFICE: Unit 1
Home Farm Lane
Pitsford
Northampton
Northamptonshire
NN6 9NL





REGISTERED NUMBER: 04201243 (England and Wales)





ACCOUNTANTS: Phipps Henson McAllister
Chartered Accountants
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

PLUMB-LINE CONTRACTING LIMITED (REGISTERED NUMBER: 04201243)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 309,475 298,250

CURRENT ASSETS
Stocks 25,000 25,000
Debtors 5 492,790 398,603
Cash at bank 71,052 15,058
588,842 438,661
CREDITORS
Amounts falling due within one year 6 492,157 434,839
NET CURRENT ASSETS 96,685 3,822
TOTAL ASSETS LESS CURRENT LIABILITIES 406,160 302,072

CREDITORS
Amounts falling due after more than one
year

7

156,039

158,929
NET ASSETS 250,121 143,143

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 250,021 143,043
SHAREHOLDERS' FUNDS 250,121 143,143

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

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.

PLUMB-LINE CONTRACTING LIMITED (REGISTERED NUMBER: 04201243)

BALANCE SHEET - continued
31 AUGUST 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 October 2023 and were signed by:





A Brown - Director


PLUMB-LINE CONTRACTING LIMITED (REGISTERED NUMBER: 04201243)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Plumb-Line Contracting Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of goods and services, excluding value added tax.

In respect of long term contracts turnover represents the value of work done in the year including estimates of amounts not invoiced. Turnover is recognised by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of the fixed and variable overheads.

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.


PLUMB-LINE CONTRACTING LIMITED (REGISTERED NUMBER: 04201243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Long term contracts
The attributable profits on long term contracts are recognised once their outcome can be assessed with reasonable certainty. The profit recognised reflects the proportion of the work completed to date on the contract.

Full provision is made for losses on all contracts in the year in which the loss is first forseen.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 23 ) .

PLUMB-LINE CONTRACTING LIMITED (REGISTERED NUMBER: 04201243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2022 311,368 53,826 229,153 594,347
Additions - - 30,450 30,450
Disposals - - (40,437 ) (40,437 )
At 31 August 2023 311,368 53,826 219,166 584,360
DEPRECIATION
At 1 September 2022 52,796 50,613 192,688 296,097
Charge for year 6,227 803 11,019 18,049
Eliminated on disposal - - (39,261 ) (39,261 )
At 31 August 2023 59,023 51,416 164,446 274,885
NET BOOK VALUE
At 31 August 2023 252,345 2,410 54,720 309,475
At 31 August 2022 258,572 3,213 36,465 298,250

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2022 40,472
Additions 30,450
Transfer to ownership (25,810 )
At 31 August 2023 45,112
DEPRECIATION
At 1 September 2022 19,687
Charge for year 3,621
Transfer to ownership (11,898 )
At 31 August 2023 11,410
NET BOOK VALUE
At 31 August 2023 33,702
At 31 August 2022 20,785

PLUMB-LINE CONTRACTING LIMITED (REGISTERED NUMBER: 04201243)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 435,680 249,517
Amounts recoverable on contract 38,347 126,043
Other debtors - 1,392
VAT 8,443 -
Prepayments & accrued income 10,320 21,651
492,790 398,603

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 29,970 46,566
Hire purchase contracts 14,883 19,819
Trade creditors 282,300 164,460
Credit card 13,544 5,993
Social security and other taxes 125,372 112,930
VAT - 14,210
Other creditors 12,669 40,175
Directors' current accounts 519 15,936
Accrued expenses 12,900 14,750
492,157 434,839

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 30,231 29,970
Bank loans - 2-5 years 65,722 78,916
Bank loans more 5 yr by instal 28,315 45,307
Hire purchase contracts 31,771 4,736
156,039 158,929

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 28,315 45,307

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100