Silverfin false 31/03/2023 01/04/2022 31/03/2023 Ethel Elizabeth Guppy Norman Alfred Guppy (Deceased) 23/02/2023 Norman Charles Guppy Stephen George Guppy 29 November 2023 The principal activity of the Company during the financial year was the provision of plumbing & heating services. 00842249 2023-03-31 00842249 bus:Director2 2023-03-31 00842249 2022-03-31 00842249 core:CurrentFinancialInstruments 2023-03-31 00842249 core:CurrentFinancialInstruments 2022-03-31 00842249 core:ShareCapital 2023-03-31 00842249 core:ShareCapital 2022-03-31 00842249 core:RetainedEarningsAccumulatedLosses 2023-03-31 00842249 core:RetainedEarningsAccumulatedLosses 2022-03-31 00842249 core:PlantMachinery 2022-03-31 00842249 core:Vehicles 2022-03-31 00842249 core:FurnitureFittings 2022-03-31 00842249 core:PlantMachinery 2023-03-31 00842249 core:Vehicles 2023-03-31 00842249 core:FurnitureFittings 2023-03-31 00842249 core:ImmediateParent core:CurrentFinancialInstruments 2023-03-31 00842249 core:ImmediateParent core:CurrentFinancialInstruments 2022-03-31 00842249 bus:OrdinaryShareClass1 2023-03-31 00842249 bus:OrdinaryShareClass2 2023-03-31 00842249 2022-04-01 2023-03-31 00842249 bus:FullAccounts 2022-04-01 2023-03-31 00842249 bus:SmallEntities 2022-04-01 2023-03-31 00842249 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 00842249 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00842249 bus:Director1 2022-04-01 2023-03-31 00842249 bus:Director2 2022-04-01 2023-03-31 00842249 bus:Director3 2022-04-01 2023-03-31 00842249 bus:Director4 2022-04-01 2023-03-31 00842249 core:PlantMachinery 2022-04-01 2023-03-31 00842249 core:Vehicles 2022-04-01 2023-03-31 00842249 core:FurnitureFittings 2022-04-01 2023-03-31 00842249 2021-04-01 2022-03-31 00842249 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 00842249 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 00842249 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 00842249 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00842249 (England and Wales)

N.A. GUPPY LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

N.A. GUPPY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

N.A. GUPPY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
N.A. GUPPY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 49,947 29,124
49,947 29,124
Current assets
Stocks 12,992 12,202
Debtors 4 373,510 289,109
Cash at bank and in hand 288,061 362,198
674,563 663,509
Creditors: amounts falling due within one year 5 ( 586,825) ( 351,612)
Net current assets 87,738 311,897
Total assets less current liabilities 137,685 341,021
Provision for liabilities ( 12,241) ( 6,881)
Net assets 125,444 334,140
Capital and reserves
Called-up share capital 6 1,000 1,000
Profit and loss account 124,444 333,140
Total shareholder's funds 125,444 334,140

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.

Directors' responsibilities:

The financial statements of N.A. Guppy Limited (registered number: 00842249) were approved and authorised for issue by the Director on 29 November 2023. They were signed on its behalf by:

Norman Charles Guppy
Director
Stephen George Guppy
Director
N.A. GUPPY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
N.A. GUPPY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

N.A. Guppy Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Croylands, Brampford Speke, Exeter, EX5 5HH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 9

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 April 2022 8,190 100,125 1,946 110,261
Additions 0 33,795 752 34,547
Disposals 0 ( 10,855) 0 ( 10,855)
At 31 March 2023 8,190 123,065 2,698 133,953
Accumulated depreciation
At 01 April 2022 4,575 75,648 914 81,137
Charge for the financial year 542 12,895 164 13,601
Disposals 0 ( 10,732) 0 ( 10,732)
At 31 March 2023 5,117 77,811 1,078 84,006
Net book value
At 31 March 2023 3,073 45,254 1,620 49,947
At 31 March 2022 3,615 24,477 1,032 29,124

4. Debtors

2023 2022
£ £
Trade debtors 327,003 230,926
Other debtors 46,507 58,183
373,510 289,109

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 28,976 16,335
Amounts owed to Parent undertakings 463,862 103,892
Taxation and social security 86,069 135,580
Other creditors 7,918 95,805
586,825 351,612

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
620 Ordinary A shares of £ 1.00 each 620 620
380 Ordinary B shares of £ 1.00 each 380 380
1,000 1,000

7. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 1,900 1,148

8. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts owed to directors 1 58,159