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Registration number: NI664775

Kevin Brogan (Plumbing & Heating) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Kevin Brogan (Plumbing & Heating) Ltd

(Registration number: NI664775)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

27,426

34,285

Current assets

 

Stocks

5

5,519

19,505

Debtors

6

11,671

-

Cash at bank and in hand

 

2,357

13,028

 

19,547

32,533

Creditors: Amounts falling due within one year

7

(7,920)

(9,918)

Net current assets

 

11,627

22,615

Total assets less current liabilities

 

39,053

56,900

Creditors: Amounts falling due after more than one year

7

(31,843)

(32,577)

Provisions for liabilities

(5,211)

(6,514)

Net assets

 

1,999

17,809

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,899

17,709

Shareholders' funds

 

1,999

17,809

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Kevin Brogan (Plumbing & Heating) Ltd

(Registration number: NI664775)
Balance Sheet as at 31 March 2023

Director's 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 director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 November 2023
 

.........................................
Mr Kevin Brogan
Director

 

Kevin Brogan (Plumbing & Heating) Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 10 Killimorrie Park, Dunloy, Ballymena, Co. Antrim, BT44 9FA.

These financial statements were authorised for issue by the director on 11 November 2023.

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.

Revenue recognition

turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/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.

Tax

The tax expense for the period comprises current 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.

 

Kevin Brogan (Plumbing & Heating) Ltd

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

Tangible assets

Tangible assets are stated in the balance sheet 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 equipment

20% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Work in progress

Work in progress is valued at cost of labour and materials plus attributable profits less foreseeable losses.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Kevin Brogan (Plumbing & Heating) Ltd

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

4

Tangible assets

Plant & machinery
£

Total
£

Cost or valuation

At 1 April 2022

46,196

46,196

At 31 March 2023

46,196

46,196

Depreciation

At 1 April 2022

11,911

11,911

Charge for the year

6,859

6,859

At 31 March 2023

18,770

18,770

Carrying amount

At 31 March 2023

27,426

27,426

At 31 March 2022

34,285

34,285

 

Kevin Brogan (Plumbing & Heating) Ltd

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

5

Work in progress

2023
£

2022
£

Other inventories

5,519

19,505

6

Debtors

Current

2023
£

2022
£

Trade debtors

1,169

-

Other debtors

10,502

-

 

11,671

-

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

3,239

6,059

Taxation and social security

 

514

1,709

Accruals and deferred income

 

4,167

2,150

 

7,920

9,918