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Registration number: 02686663

D.P. Plumbing And Heating Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 28 February 2023

 

D.P. Plumbing And Heating Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

D.P. Plumbing And Heating Limited

(Registration number: 02686663)
Statement of Financial Position as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

10,441

13,924

Current assets

 

Stocks

5

900

900

Debtors

6

30,757

48,385

Cash at bank and in hand

 

5,859

4,030

 

37,516

53,315

Creditors: Amounts falling due within one year

7

(44,175)

(30,331)

Net current (liabilities)/assets

 

(6,659)

22,984

Total assets less current liabilities

 

3,782

36,908

Creditors: Amounts falling due after more than one year

7

(18,858)

(33,205)

Provisions for liabilities

(1,984)

(2,646)

Net (liabilities)/assets

 

(17,060)

1,057

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(17,160)

957

Shareholders' (deficit)/funds

 

(17,060)

1,057

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 provisions applicable to companies subject to the small companies' regime 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 Income Statement has been taken.

 

D.P. Plumbing And Heating Limited

(Registration number: 02686663)
Statement of Financial Position as at 28 February 2023

Approved and authorised by the Board on 3 November 2023 and signed on its behalf by:
 

.........................................
Mr S R Day
Company secretary and director

 

D.P. Plumbing And Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 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: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. United Kingdom.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

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

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure. This includes the government's Coronavirus Job Retention Scheme grant.

Tax

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

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.

 

D.P. Plumbing And Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Plant and machinery

25% reducing balance

Computer equipment

25% reducing balance

Motor vehicles

25% reducing balance

Stocks

Stocks are stated at cost and represent an estimated value of consumable items, maiinly plumbing supplies, kept on board the company's vehicles and in storage.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

 

D.P. Plumbing And Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 3).

 

D.P. Plumbing And Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Plant and machinery
£

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2022

7,834

7,920

37,920

53,674

At 28 February 2023

7,834

7,920

37,920

53,674

Depreciation

At 1 March 2022

7,558

7,282

24,910

39,750

Charge for the year

70

160

3,253

3,483

At 28 February 2023

7,628

7,442

28,163

43,233

Carrying amount

At 28 February 2023

206

478

9,757

10,441

At 28 February 2022

276

638

13,010

13,924

5

Stocks

2023
£

2022
£

Raw materials and consumables

900

900

6

Debtors

2023
£

2022
£

Trade debtors

11,524

24,452

Other debtors

12,976

23,720

Prepayments

970

213

Accrued income

5,287

-

30,757

48,385

 

D.P. Plumbing And Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Bank loans and overdrafts

8

7,553

-

Trade creditors

 

15,637

11,528

Taxation and social security

 

853

4,941

Accruals and deferred income

 

655

669

Other creditors

 

19,477

13,193

 

44,175

30,331

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Loans and borrowings

8

18,858

33,205

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

18,858

33,205

2023
£

2022
£

Current loans and borrowings

Bank borrowings

7,553

-