Registered number
03712475
Plumb Excel Ltd
Filleted Accounts
31 July 2023
Plumb Excel Ltd
Company Information
Directors
G C Hampton
Mrs D J Hampton
S L G Hampton
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
25 Fernleigh Crescent
Up Hatherley
Cheltenham
Glos
Registered number
03712475
Plumb Excel Ltd
Registered number: 03712475
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 10,940 25,082
Current assets
Stocks 1,100 1,100
Debtors 4 483 4,179
Cash at bank and in hand 64,081 58,940
65,664 64,219
Creditors: amounts falling due within one year 5 (31,871) (32,564)
Net current assets 33,793 31,655
Net assets 44,733 56,737
Capital and reserves
Called up share capital 50 50
Profit and loss account 44,683 56,687
Shareholders' funds 44,733 56,737
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.
G C Hampton
Director
Approved by the board on 30 November 2023
Plumb Excel Ltd
Notes to the Accounts
for the year ended 31 July 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 over 4 years (previously 15% reducing balance)
Motor vehicles over 4 years (previously 25% 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.
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 3 3
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 August 2022 7,348 36,495 43,843
Additions 2,423 - 2,423
At 31 July 2023 9,771 36,495 46,266
Depreciation
At 1 August 2022 6,912 11,849 18,761
Charge for the year 1,044 15,521 16,565
At 31 July 2023 7,956 27,370 35,326
Net book value
At 31 July 2023 1,815 9,125 10,940
At 31 July 2022 436 24,646 25,082
4 Debtors 2023 2022
£ £
Trade debtors 483 4,179
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 11,127 15,362
Taxation and social security costs 17,100 14,930
Other creditors 3,644 2,272
31,871 32,564
6 Controlling party
The company is controlled by the directors.
7 Other information
Plumb Excel Ltd is a private company limited by shares and incorporated in England. Its registered office is:
25 Fernleigh Crescent
Up Hatherley
Cheltenham
Glos
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