Company registration number 05355926 (England and Wales)
S & E Plumbing Limited
Unaudited
financial statements
for the year ended 31 March 2023
PAGES FOR FILING WITH REGISTRAR
S & E Plumbing Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
S & E Plumbing Limited
Statement of financial position
as at 31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
135
1,983
Current assets
Debtors
89,330
87,629
Cash at bank and in hand
10,842
21,533
100,172
109,162
Creditors: amounts falling due within one year
(51,743)
(76,905)
Net current assets
48,429
32,257
Total assets less current liabilities
48,564
34,240
Creditors: amounts falling due after more than one year
(29,922)
(41,463)
Net assets/(liabilities)
18,642
(7,223)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
18,542
(7,323)
Total equity
18,642
(7,223)
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
S & E Plumbing Limited
Statement of financial position (continued)
as at 31 March 2023
- 2 -
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 9 October 2023 and are signed on its behalf by:
J D Smith
Director
Company Registration No. 05355926
S & E Plumbing Limited
Notes to the financial statements
for the year ended 31 March 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Revenue is recognised on the supply of services.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% Straight Line
Fixtures, fittings & equipment
33% Reducing Balance
Motor vehicles
25% Reducing Balance
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
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 represent accumulated differences between the company's taxable profit and its financial profit arise primarily from the differences between the accelerated capital allowances and depreciation.
S & E Plumbing Limited
Notes to the financial statements (continued)
for the year ended 31 March 2023
1
Accounting policies
(continued)
- 4 -
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Government grants
Government grants relate to Coronavirus Job Retention Scheme (CJRS) funding of staff who have been furloughed due to Covid-19. These revenue-based grants are recognised over the same period in which the related costs are incurred.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
7
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2022 and 31 March 2023
4,204
2,206
11,005
17,415
Depreciation and impairment
At 1 April 2022
4,028
2,005
9,399
15,432
Depreciation charged in the year
176
66
1,606
1,848
At 31 March 2023
4,204
2,071
11,005
17,280
Carrying amount
At 31 March 2023
135
135
At 31 March 2022
176
201
1,606
1,983
4
Company information
S & E Plumbing Limited is a private company limited by shares incorporated in England and Wales. The registered office is 16 Ravensmead, Purston, West Yorkshire, WF7 5AQ.