REGISTERED NUMBER: |
Stimpson Plumbing Services Limited |
Unaudited Financial Statements |
for the Year Ended 31 May 2023 |
REGISTERED NUMBER: |
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: |
Registered office: |
Registered number: |
Accountants: |
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. |
7 Swan Court |
Forder Way, Cygnet Park |
Hampton |
Peterborough |
Cambs |
PE7 8GX |
Stimpson Plumbing Services Limited (Registered number: 07239235) |
Statement of Financial Position |
31 May 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
Investment property | 6 |
Current assets |
Stock and work in progress | 7 |
Debtors | 8 |
Cash at bank |
Creditors |
Amounts falling due within one year | 9 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Retained earnings |
Shareholders' funds |
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 |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
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. | Tangible fixed assets |
Motor |
vehicles | Equipment | Totals |
£ | £ | £ |
Cost |
At 1 June 2022 |
Additions |
At 31 May 2023 |
Depreciation |
At 1 June 2022 |
Charge for year |
At 31 May 2023 |
Net book value |
At 31 May 2023 |
At 31 May 2022 |
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 |
Net book value |
At 31 May 2023 |
At 31 May 2022 |
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 |
Work in progress |
8. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Director's loan account | 3,530 | - |
VAT |
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 |
Hire purchase contracts |
Trade creditors |
Corporation tax |
Social security and other taxes |
Other creditors |
Director's loan account | - | 2,590 |
Accruals and deferred income |
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 |
Hire purchase contracts |
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: | £ | £ |
Ordinary shares | £1 | 1 | 1 |
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 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |