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REGISTERED NUMBER: 05900131 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Farthings Plumbing & Heating Limited

Farthings Plumbing & Heating Limited (Registered number: 05900131)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Farthings Plumbing & Heating Limited

Company Information
for the Year Ended 31 August 2023







DIRECTOR: D B Farthing





SECRETARY: Mrs B A Farthing





REGISTERED OFFICE: Unit A, Sandown Court
Station Road
Glenfield
Leicester
LE3 8BT





REGISTERED NUMBER: 05900131 (England and Wales)





ACCOUNTANTS: Carter & Co
19 Warren Park Way
Enderby
Leicester
LE19 4SA

Farthings Plumbing & Heating Limited (Registered number: 05900131)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,946 42,860

CURRENT ASSETS
Stocks 22,112 29,551
Debtors 5 80,294 77,664
Cash at bank and in hand 240,876 142,514
343,282 249,729
CREDITORS
Amounts falling due within one year 6 231,850 202,301
NET CURRENT ASSETS 111,432 47,428
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,378

90,288

CREDITORS
Amounts falling due after more than one
year

7

(28,131

)

(42,790

)

PROVISIONS FOR LIABILITIES (6,199 ) (8,144 )
NET ASSETS 109,048 39,354

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 108,948 39,254
SHAREHOLDERS' FUNDS 109,048 39,354

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Farthings Plumbing & Heating Limited (Registered number: 05900131)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 March 2024 and were signed by:





D B Farthing - Director


Farthings Plumbing & Heating Limited (Registered number: 05900131)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Farthings Plumbing & 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.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 15 ) .

Farthings Plumbing & Heating Limited (Registered number: 05900131)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2022 10,000 129,700 139,700
Additions - 477 477
Disposals - (18,995 ) (18,995 )
Transfer to ownership - 5,100 5,100
At 31 August 2023 10,000 116,282 126,282
DEPRECIATION
At 1 September 2022 10,000 86,840 96,840
Charge for year - 11,061 11,061
Eliminated on disposal - (13,565 ) (13,565 )
At 31 August 2023 10,000 84,336 94,336
NET BOOK VALUE
At 31 August 2023 - 31,946 31,946
At 31 August 2022 - 42,860 42,860

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2022 26,131
Disposals (5,100 )
At 31 August 2023 21,031
DEPRECIATION
At 1 September 2022 11,919
Charge for year 3,208
Transfer to ownership (3,721 )
At 31 August 2023 11,406
NET BOOK VALUE
At 31 August 2023 9,625
At 31 August 2022 14,212

Farthings Plumbing & Heating Limited (Registered number: 05900131)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 31,110 34,639
Other debtors 41,982 37,993
Rent deposit 1,260 1,260
Prepayments 5,942 3,772
80,294 77,664

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Hire purchase contracts 3,996 6,454
Trade creditors 51,443 74,038
Tax 25,382 -
Social security and other taxes 18,895 18,709
VAT 42,469 13,868
Other creditors 76,467 65,556
Directors' current accounts 11,763 22,266
Accrued expenses 1,435 1,410
231,850 202,301

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans - 2-5 years 28,131 38,794
Hire purchase contracts - 3,996
28,131 42,790

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
100 Ordinary £1.00 100 100

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2022 - £2,000) were paid to the director .

The company also purchased goods net of VAT from & Leicester Plumbing & Heating & Bathroom Supplies Limited totalling £67,898 (2022: £68,687). The amount owed by the company at the year end was £6,534 (2022: £10,792).

During the year, the company paid rent amounting to £18,666 (2022- £18,000) to Mr D Farthing.