Registered number
11086897
Plumbco Heating Limited
Unaudited Filleted Accounts
31 March 2023
Plumbco Heating Limited
Registered number: 11086897
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 1,467
Tangible assets 4 407,438 358,574
407,438 360,041
Current assets
Stocks 106,000 50,000
Debtors 5 81,626 148,896
Cash at bank and in hand 233,813 96,462
421,439 295,358
Creditors: amounts falling due within one year 6 (392,566) (285,911)
Net current assets 28,873 9,447
Total assets less current liabilities 436,311 369,488
Creditors: amounts falling due after more than one year 7 (181,621) (188,971)
Net assets 254,690 180,517
Capital and reserves
Share premium 1,000 1,000
Profit and loss account 253,690 179,517
Shareholders' funds 254,690 180,517
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
A Poolman
Director
Approved by the board on 29 March 2024
Plumbco 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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 9 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 11,000
At 31 March 2023 11,000
Amortisation
At 1 April 2022 9,533
Provided during the year 1,467
At 31 March 2023 11,000
Net book value
At 31 March 2023 -
At 31 March 2022 1,467
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 239,258 150,470 389,728
Additions 41,682 53,295 94,977
Disposals - (19,436) (19,436)
At 31 March 2023 280,940 184,329 465,269
Depreciation
At 1 April 2022 - 31,154 31,154
Charge for the year - 35,840 35,840
On disposals - (9,163) (9,163)
At 31 March 2023 - 57,831 57,831
Net book value
At 31 March 2023 280,940 126,498 407,438
At 31 March 2022 239,258 119,316 358,574
5 Debtors 2023 2022
£ £
Trade debtors 78,626 147,896
Other debtors 3,000 1,000
81,626 148,896
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 156,848 120,864
VAT 26,561 27,608
Directors loan account 143,649 86,048
Taxation and social security costs 60,908 44,341
Other creditors 4,600 7,050
392,566 285,911
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 126,478 142,320
Obligations under finance lease and hire purchase contracts 55,143 46,651
181,621 188,971
8 Other information
Plumbco Heating Limited is a private company limited by shares and incorporated in England. Its registered office is:
220 Kingsway
St George
Bristol
BS5 8NS
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