Registered number
11191726
D.L Plumbing and Heating Solutions Ltd
Report and Accounts
28 February 2023
Accountancy 4 Tax Savings Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
D.L Plumbing and Heating Solutions Ltd
Registered number: 11191726
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 2,000
Tangible assets 4 24,279 32,444
24,279 34,444
Current assets
Debtors 5 26,778 49,660
Cash at bank and in hand 8,785 15,795
35,563 65,455
Creditors: amounts falling due within one year 6 (24,818) (36,060)
Net current assets 10,745 29,395
Total assets less current liabilities 35,024 63,839
Creditors: amounts falling due after more than one year 7 (34,560) (49,083)
Net assets 464 14,756
Capital and reserves
Called up share capital 2 2
Profit and loss account 462 14,754
Shareholders' funds 464 14,756
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Daniel Lister
Director
Approved by the board on 23 October 2023
D.L Plumbing and Heating Solutions Ltd
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Plant and machinery 25% reducing balance & 33% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2022 10,000
At 28 February 2023 10,000
Amortisation
At 1 March 2022 8,000
Provided during the year 2,000
At 28 February 2023 10,000
Net book value
At 28 February 2023 -
At 28 February 2022 2,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2022 660 59,866 60,526
At 28 February 2023 660 59,866 60,526
Depreciation
At 1 March 2022 335 27,747 28,082
Charge for the year 135 8,030 8,165
At 28 February 2023 470 35,777 36,247
Net book value
At 28 February 2023 190 24,089 24,279
At 28 February 2022 325 32,119 32,444
5 Debtors 2023 2022
£ £
Trade debtors 332 36,532
Other debtors 26,446 13,128
26,778 49,660
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 4,523 4,523
Trade creditors 1,752 13,654
Corporation tax 7,124 6,360
Other creditors 1,419 1,523
24,818 36,060
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 22,500 32,500
Obligations under finance lease and hire purchase contracts 12,060 16,583
34,560 49,083
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