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Michael Elliott Plumbing Ltd
Registered Number:09232877
For the year ended 30 September 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 30 September 2023
Michael Elliott Plumbing Ltd
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
3
Registered Number :
09232877
As at 30 September 2023
Michael Elliott Plumbing Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Intangible assets
1,000
2,000
2
Property, plant and equipment
10,350
13,110
3
11,350
15,110
Current assets
Inventories
300
300
4
Trade and other receivables
7,579
3,084
5
4,270
Cash and cash equivalents
4,198
7,582
12,149
Trade and other payables: amounts falling due within
one year
(10,546)
(5,931)
6
1,603
1,651
Net current assets
Total assets less current liabilities
13,001
16,713
13,001
Net assets
16,713
Capital and reserves
Called up share capital
2
2
Retained earnings
12,999
16,711
13,001
16,713
Shareholders' funds
For the year ended 30 September 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
09232877
For the year ended 30 September 2023
Michael Elliott Plumbing Ltd
Statement of Financial Position Continued
Mr Michael Brian Elliott Director
Mrs Sally Elliott Director
These financial statements were approved and authorised for issue by the Board on 23 November 2023 and were signed by:
The notes form part of these financial statements
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5
For the year ended 30 September 2023
Michael Elliott Plumbing Ltd
Notes to the Financial Statements
Statutory Information
Michael Elliott Plumbing Ltd is a private limited company, limited by shares, domiciled in England and
Wales, registration number 09232877.
Registered address:
51 Redgate
Thetford
Norfolk
IP24 2HB
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic
of Ireland' and the Companies Act 2006. The financial statements have been prepared under the
historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of 10 years.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
15% Reducing balance
25% Reducing balance
Motor vehicles
15% Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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6
For the year ended 30 September 2023
Michael Elliott Plumbing Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 October 2022
10,000
At 30 September 2023
10,000
Amortisation
At 01 October 2022
8,000
1,000
Charge for year
At 30 September 2023
9,000
Net book value
At 30 September 2023
1,000
At 30 September 2022
2,000
3. Property, plant and equipment
Total
Fixtures and
fittings
Motor
vehicles
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 October 2022
21,544
3,105
14,950
3,489
291
-
-
291
Additions
At 30 September 2023
3,780
14,950
3,105
21,835
Provision for depreciation and impairment
At 01 October 2022
8,434
2,060
4,440
1,934
Charge for year
3,051
155
2,630
266
At 30 September 2023
11,485
2,215
7,070
2,200
At 30 September 2023
Net book value
1,580
7,880
890
10,350
At 30 September 2022
1,555
10,510
1,045
13,110
4. Inventories
2022
2023
£
£
Stocks
300
300
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For the year ended 30 September 2023
Michael Elliott Plumbing Ltd
Notes to the Financial Statements Continued
5. Trade and other receivables
2022
2023
£
£
Trade debtors
3,084
7,579
6. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
3,009
2,231
Taxation and social security
1,645
6,258
Other creditors
1,277
2,057
5,931
10,546
7. Average number of persons employed
During the year the average number of employees was 2 (2022 : 3)
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