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Registered Number: 13875801
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 January 2024

for

SC PLUMBING & GAS LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 14,593    19,457 
14,593    19,457 
Current assets      
Debtors 4 2,722    2,002 
Cash at bank and in hand 1,874    2,503 
4,596    4,505 
Creditors: amount falling due within one year 5 (11,684)   (7,675)
Net current liabilities (7,088)   (3,170)
 
Total assets less current liabilities 7,505    16,287 
Creditors: amount falling due after more than one year 6 (2,354)   (8,003)
Net assets 5,151    8,284 
 

Capital and reserves
     
Called up share capital 7 100    100 
Profit and loss account 5,051    8,184 
Shareholder's funds 5,151    8,284 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 29 February 2024 and were signed by:


-------------------------------
Shaun Cooney
Director
1
General Information
SC Plumbing & Gas Ltd is a private company, limited by shares, registered in England and Wales, registration number 13875801, registration address 7 Lowdham, Wilnecote, Tamworth, Staffordshire, B77 4LX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
The Company has transferred the significant risks and rewards of ownership to the buyer
The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
The amount of revenue can be measured reliably;
It is probable that the Company will receive the consideration due under the transaction; and
The costs incurred or to be incurred in respect of the transaction can be measured reliably.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Debtors and creditors receivable/ payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in the other administrative expenses.
Cash and cash equivalents
Cash at bank and in hand 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 current liabilities.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Total
  £   £
At 01 February 2023 21,720    21,720 
Additions  
Disposals  
At 31 January 2024 21,720    21,720 
Depreciation
At 01 February 2023 2,263    2,263 
Charge for year 4,864    4,864 
On disposals  
At 31 January 2024 7,127    7,127 
Net book values
Closing balance as at 31 January 2024 14,593    14,593 
Opening balance as at 01 February 2023 19,457    19,457 

The net book value of Motor Vehicles includes £ 14,593 (2023 £19,457) in respect of assets leased under finance leases or hire purchase contracts.

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 55   
Other Debtors 2,667    2,002 
2,722    2,002 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors   252 
Taxation and Social Security 6,036    1,578 
Obligations under HP/Financial Leases 5,649    5,649 
Other Creditors (1)   196 
11,684    7,675 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Obligations under HP/Financial Leases 2,354    8,003 
2,354    8,003 

7.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

2