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REGISTERED NUMBER: 07656522 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 June 2023

for

R & G Plumbing and Heating Limited

R & G Plumbing and Heating Limited (Registered number: 07656522)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R & G Plumbing and Heating Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: R G Turner
G M Turner





REGISTERED OFFICE: Airport House
Suite 43-45
Purley Way
Croydon
Surrey
CR0 0XZ





REGISTERED NUMBER: 07656522 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

R & G Plumbing and Heating Limited (Registered number: 07656522)

Balance Sheet
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 29,283 4,951

CURRENT ASSETS
Debtors 5 20,610 8,167
Cash at bank 22,571 19,189
43,181 27,356
CREDITORS
Amounts falling due within one year 6 (24,220 ) (17,885 )
NET CURRENT ASSETS 18,961 9,471
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,244

14,422

CREDITORS
Amounts falling due after more than one year 7 (10,930 ) -

PROVISIONS FOR LIABILITIES 8 (5,564 ) (941 )
NET ASSETS 31,750 13,481

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 31,650 13,381
31,750 13,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

R & G Plumbing and Heating Limited (Registered number: 07656522)

Balance Sheet - continued
30 June 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 Earning has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by:




R G Turner - Director



G M Turner - Director


R & G Plumbing and Heating Limited (Registered number: 07656522)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

R & G Plumbing and Heating 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 (£).


The principal activity of the company continued to be that of plumbing, heat and air conditioning installation.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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. The financial statements have been prepared under the historical cost convention.

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.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment25% Reducing Balance
Motor vehicles25% Reducing Balance
Plant & Machinery25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

FINANCIAL INSTRUMENTS
The company only enters into basic financial transactions that result in recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in non-puttable ordinary shares.

TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

R & G Plumbing and Heating Limited (Registered number: 07656522)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the statement of income and retained earning in the year that the company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in Balance sheet.

GOING CONCERN
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2022 931 2,912 18,558 22,401
Additions - 716 28,790 29,506
Disposals - (521 ) (18,558 ) (19,079 )
At 30 June 2023 931 3,107 28,790 32,828
DEPRECIATION
At 1 July 2022 320 1,049 16,081 17,450
Charge for year 153 492 1,799 2,444
Eliminated on disposal - (268 ) (16,081 ) (16,349 )
At 30 June 2023 473 1,273 1,799 3,545
NET BOOK VALUE
At 30 June 2023 458 1,834 26,991 29,283
At 30 June 2022 611 1,863 2,477 4,951

R & G Plumbing and Heating Limited (Registered number: 07656522)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,641 5,592
Other debtors 2,969 2,575
20,610 8,167

The directors consider the carrying value of trade and other receivables approximate to their fair values.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 3,975 -
Trade creditors 52 2,050
Taxation and social security 18,163 10,942
Other creditors 2,030 4,893
24,220 17,885

The directors consider the carrying amounts of current liabilities approximate to their fair values.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 10,930 -

The directors consider the carrying amounts of long term liabilities approximate to their fair values.

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 5,564 941

Deferred
tax
£   
Balance at 1 July 2022 941
Provided during year 4,623
Balance at 30 June 2023 5,564

9. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

R & G Plumbing and Heating Limited (Registered number: 07656522)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

10. RELATED PARTY DISCLOSURES

As at the balance sheet date included in other creditors were amounts of £115 (2022 - £2,508) due to the directors.