Registered number
07329837
Mortlake Plumbing and Heating Limited
Filleted Accounts
31 March 2023
Mortlake Plumbing and Heating Limited
Registered number: 07329837
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 19,396 49,983
Current assets
Stocks 500 10,000
Debtors 4 921 27,413
Cash at bank and in hand 151,747 109,089
153,168 146,502
Creditors: amounts falling due within one year 5 (35,669) (55,823)
Net current assets 117,499 90,679
Total assets less current liabilities 136,895 140,662
Creditors: amounts falling due after more than one year 6 (21,666) (31,667)
Provisions for liabilities (3,684) (6,637)
Net assets 111,545 102,358
Capital and reserves
Called up share capital 100 100
Profit and loss account 111,445 102,258
Shareholder's funds 111,545 102,358
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. J. Colquhoun
Director
Approved by the board on 27 November 2023
Mortlake Plumbing and Heating Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% straight line
Motor vehicles 30% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 68,663 18,350 87,013
Additions 2,004 - 2,004
Disposals (38,889) - (38,889)
At 31 March 2023 31,778 18,350 50,128
Depreciation
At 1 April 2022 32,442 4,588 37,030
Charge for the year 4,637 4,129 8,766
On disposals (15,064) - (15,064)
At 31 March 2023 22,015 8,717 30,732
Net book value
At 31 March 2023 9,763 9,633 19,396
At 31 March 2022 36,221 13,762 49,983
4 Debtors 2023 2022
£ £
Trade debtors 801 22,298
Other debtors 120 5,115
921 27,413
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 4,815 19,323
Director's loan account 847 847
Taxation and social security costs 18,307 19,506
Other creditors 1,700 6,147
35,669 55,823
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 21,666 31,667
7 Controlling party
The company is controlled by the director who holds 100% of the issued share capital.
8 Other information
Mortlake Plumbing and Heating Limited is a private company limited by shares and incorporated in England. Its registered office is: 17 Oaklands Road, London, SW14 8NJ
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