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REGISTERED NUMBER: 07636793 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Finesse Plumbing & Heating Engineers
Limited

Finesse Plumbing & Heating Engineers
Limited (Registered number: 07636793)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Finesse Plumbing & Heating Engineers
Limited

Company Information
for the Year Ended 31 March 2023







Directors: Mr. R Hewitt
Mr. M P Shanley





Registered office: Unit 22
Cranswick Industrial Estate
Hutton Cranswick
Driffield
East Yorkshire
YO25 9QE





Registered number: 07636793 (England and Wales)





Accountants: Ullyott Limited
6 George Street
Driffield
East Yorkshire
YO25 6RA

Finesse Plumbing & Heating Engineers
Limited (Registered number: 07636793)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 42,083 47,083
Tangible assets 5 72,961 40,675
115,044 87,758

CURRENT ASSETS
Stocks 42,000 35,400
Debtors 6 77,432 67,814
Cash at bank 33,265 46,725
152,697 149,939
CREDITORS
Amounts falling due within one year 7 190,738 129,622
NET CURRENT (LIABILITIES)/ASSETS (38,041 ) 20,317
TOTAL ASSETS LESS CURRENT
LIABILITIES

77,003

108,075

CREDITORS
Amounts falling due after more than one
year

8

(54,524

)

(49,562

)

PROVISIONS FOR LIABILITIES 9 (13,862 ) (7,728 )
NET ASSETS 8,617 50,785

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 8,517 50,685
SHAREHOLDERS' FUNDS 8,617 50,785

Finesse Plumbing & Heating Engineers
Limited (Registered number: 07636793)

Balance Sheet - continued
31 March 2023


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

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

The directors acknowledge their 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.

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 income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:





Mr. M P Shanley - Director


Finesse Plumbing & Heating Engineers
Limited (Registered number: 07636793)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Finesse Plumbing & Heating Engineers 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Motor vehicles - 25% on cost and 25% on reducing balance
Computer equipment - 25% on cost

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

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Finesse Plumbing & Heating Engineers
Limited (Registered number: 07636793)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 100,000
AMORTISATION
At 1 April 2022 52,917
Amortisation for year 5,000
At 31 March 2023 57,917
NET BOOK VALUE
At 31 March 2023 42,083
At 31 March 2022 47,083

Finesse Plumbing & Heating Engineers
Limited (Registered number: 07636793)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 109,686 992 110,678
Additions 48,500 950 49,450
Disposals (6,750 ) - (6,750 )
At 31 March 2023 151,436 1,942 153,378
DEPRECIATION
At 1 April 2022 69,011 992 70,003
Charge for year 17,159 5 17,164
Eliminated on disposal (6,750 ) - (6,750 )
At 31 March 2023 79,420 997 80,417
NET BOOK VALUE
At 31 March 2023 72,016 945 72,961
At 31 March 2022 40,675 - 40,675

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 59,000
Additions 48,500
Transfer to ownership (37,000 )
At 31 March 2023 70,500
DEPRECIATION
At 1 April 2022 21,687
Charge for year 13,797
Transfer to ownership (21,390 )
At 31 March 2023 14,094
NET BOOK VALUE
At 31 March 2023 56,406
At 31 March 2022 37,313

Finesse Plumbing & Heating Engineers
Limited (Registered number: 07636793)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 61,345 64,195
Other debtors 76 3,619
VAT 16,011 -
77,432 67,814

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,336 5,336
Hire purchase contracts 10,963 9,955
Trade creditors 133,693 44,582
Corporation tax - 22,061
Social security and other taxes 7,643 -
VAT - 3,703
Other creditors 7,308 5,070
Directors' current accounts 8,526 18,852
Accrued expenses 17,269 20,063
190,738 129,622

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 37,500 42,891
Hire purchase contracts 17,024 6,671
54,524 49,562

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 13,862 7,728

Finesse Plumbing & Heating Engineers
Limited (Registered number: 07636793)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 7,728
Provided during year 6,134
Balance at 31 March 2023 13,862

10. CALLED UP SHARE CAPITAL


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