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REGISTERED NUMBER: 07239235 (England and Wales)














Stimpson Plumbing Services Limited

Unaudited Financial Statements

for the Year Ended 31 May 2023






Stimpson Plumbing Services Limited (Registered number: 07239235)

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










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 9


Stimpson Plumbing Services Limited

Company Information
for the Year Ended 31 May 2023







Director: D A Stimpson





Registered office: 23 Chapel Street
Crowland
Peterborough
PE6 0AR





Registered number: 07239235 (England and Wales)





Accountants: Moore Thompson
7 Swan Court
Forder Way, Cygnet Park
Hampton
Peterborough
Cambs
PE7 8GX

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Stimpson Plumbing Services Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Director's report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stimpson Plumbing Services Limited for the year ended 31 May 2023 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Stimpson Plumbing Services Limited in accordance with the terms of our engagement letter dated 30 January 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Stimpson Plumbing Services Limited and state those matters that we have agreed to state to the director of Stimpson Plumbing Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stimpson Plumbing Services Limited and its director for our work or for this report.

It is your duty to ensure that Stimpson Plumbing Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stimpson Plumbing Services Limited. You consider that Stimpson Plumbing Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Stimpson Plumbing Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
7 Swan Court
Forder Way, Cygnet Park
Hampton
Peterborough
Cambs
PE7 8GX


22 November 2023

Stimpson Plumbing Services Limited (Registered number: 07239235)

Statement of Financial Position
31 May 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 34,662 38,750
Investment property 6 88,000 88,000
122,662 126,750

Current assets
Stock and work in progress 7 16,650 20,500
Debtors 8 52,127 55,043
Cash at bank - 3,602
68,777 79,145
Creditors
Amounts falling due within one year 9 140,841 108,335
Net current liabilities (72,064 ) (29,190 )
Total assets less current liabilities 50,598 97,560

Creditors
Amounts falling due after more than one
year

10

(41,905

)

(56,531

)

Provisions for liabilities (8,289 ) (7,363 )
Net assets 404 33,666

Capital and reserves
Called up share capital 11 100 100
Retained earnings 304 33,566
Shareholders' funds 404 33,666

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

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

The director acknowledges his 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.

Stimpson Plumbing Services Limited (Registered number: 07239235)

Statement of Financial Position - continued
31 May 2023


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 director and authorised for issue on 16 November 2023 and were signed by:





D A Stimpson - Director


Stimpson Plumbing Services Limited (Registered number: 07239235)

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


1. Statutory information

Stimpson Plumbing Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles - 20% reducing balance
Equipment - 10% reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to it's present location and condition.

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 statement of financial position date.


Stimpson Plumbing Services Limited (Registered number: 07239235)

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


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
Contributions to defined contribution plans are recognised as an expense in the period in which the related services is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employees and directors

The average number of employees during the year was 5 (2022 - 6 ) .

5. Tangible fixed assets
Motor
vehicles Equipment Totals
£    £    £   
Cost
At 1 June 2022 41,180 15,185 56,365
Additions 3,600 - 3,600
At 31 May 2023 44,780 15,185 59,965
Depreciation
At 1 June 2022 10,251 7,364 17,615
Charge for year 6,906 782 7,688
At 31 May 2023 17,157 8,146 25,303
Net book value
At 31 May 2023 27,623 7,039 34,662
At 31 May 2022 30,929 7,821 38,750

Stimpson Plumbing Services Limited (Registered number: 07239235)

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


6. Investment property
Total
£   
Fair value
At 1 June 2022
and 31 May 2023 88,000
Net book value
At 31 May 2023 88,000
At 31 May 2022 88,000

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2020 (20,901 )
Valuation in 2021 7,500
Valuation in 2022 5,500
Cost 95,901
88,000

7. Stock and work in progress
2023 2022
£    £   
Stock 2,500 2,500
Work in progress 14,150 18,000
16,650 20,500

8. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 43,873 50,247
Director's loan account 3,530 -
VAT 4,724 4,796
52,127 55,043

Stimpson Plumbing Services Limited (Registered number: 07239235)

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


9. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 34,517 10,001
Hire purchase contracts 4,628 4,628
Trade creditors 13,187 10,707
Corporation tax 20,839 23,310
Social security and other taxes 3,680 4,658
Other creditors 60,003 48,815
Director's loan account - 2,590
Accruals and deferred income 3,987 3,626
140,841 108,335

Bank loans relate to a Bounce Back loan payable over six years. Interest is chargeable twelve months after the loan being drawn. This loan is 100% government secured.

Hire purchase contracts are secured on the assets.

10. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 25,834 35,832
Hire purchase contracts 16,071 20,699
41,905 56,531

Bank loans relate to a Bounce Back loan payable over six years. Interest is chargeable twelve months after the loan being drawn. This loan is 100% government secured.

Hire purchase contracts are secured on the assets.

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary shares £1 1 1
99 Ordinary B shares £1 99 99
100 100

Stimpson Plumbing Services Limited (Registered number: 07239235)

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


12. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
D A Stimpson
Balance outstanding at start of year (2,590 ) (18,018 )
Amounts advanced 60,457 75,821
Amounts repaid (54,337 ) (60,393 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,530 (2,590 )