Registered number
04830943
H2O Gas, Heating & Plumbing Services Ltd.
Filleted Accounts
31 July 2023
H2O Gas, Heating & Plumbing Services Ltd.
Registered number: 04830943
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 18,686 24,915
Current assets
Stocks 5,000 2,000
Debtors 4 28,168 15,163
Cash at bank and in hand 38,499 39,319
71,667 56,482
Creditors: amounts falling due within one year 5 (31,200) (33,012)
Net current assets 40,467 23,470
Total assets less current liabilities 59,153 48,385
Creditors: amounts falling due after more than one year 6 (7,371) (12,927)
Net assets 51,782 35,458
Capital and reserves
Called up share capital 110 100
Profit and loss account 51,672 35,358
Shareholders' funds 51,782 35,458
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.
I M Oliver
Director
Approved by the board on 7 November 2023
H2O Gas, Heating & Plumbing Services Ltd.
Notes to the Accounts
for the year ended 31 July 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 (as applied to small entities by section 1A of the standard).
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
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 12,852 53,470 66,322
At 31 July 2023 12,852 53,470 66,322
Depreciation
At 1 August 2022 10,874 30,533 41,407
Charge for the year 495 5,734 6,229
At 31 July 2023 11,369 36,267 47,636
Net book value
At 31 July 2023 1,483 17,203 18,686
At 31 July 2022 1,978 22,937 24,915
4 Debtors 2023 2022
£ £
Trade debtors 9,410 9,996
Other debtors 18,758 5,167
28,168 15,163
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 5,508 7,694
Trade creditors - 375
Taxation and social security costs 25,042 12,235
Other creditors 650 12,708
31,200 33,012
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 7,371 12,927
7 Controlling party
The sole director, Mr Ian Oliver, is the controlling party by virtue of his 90% shareholding.
8 Other information
H2O Gas, Heating & Plumbing Services Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
76 Redwing Rise
Royston
Herts
SG8 7XE
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