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Company Registration No. 11713716 (England and Wales)
Concept Plumbing Contracts Ltd Unaudited accounts for the year ended 29 February 2024
Concept Plumbing Contracts Ltd Unaudited accounts Contents
Page
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Concept Plumbing Contracts Ltd Company Information for the year ended 29 February 2024
Directors
David Michael Lee Pettigrew
Company Number
11713716 (England and Wales)
Registered Office
4 Hillview Road South Witham Grantham Lincolnshire NG33 5QW United Kingdom
Accountants
RFBS Accounting Ltd 22 Beechcroft Close South Hykeham Lincoln Lincolnshire LN6 9NB
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Concept Plumbing Contracts Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
56,877 
54,525 
Current assets
Inventories
120,456 
11,154 
Debtors
45,825 
25,477 
Cash at bank and in hand
58,698 
31,217 
224,979 
67,848 
Creditors: amounts falling due within one year
(221,774)
(44,254)
Net current assets
3,205 
23,594 
Total assets less current liabilities
60,082 
78,119 
Creditors: amounts falling due after more than one year
(32,154)
(44,556)
Net assets
27,928 
33,563 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
27,926 
33,561 
Shareholders' funds
27,928 
33,563 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2024 and were signed on its behalf by
David Michael Director Company Registration No. 11713716
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Concept Plumbing Contracts Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Concept Plumbing Contracts Ltd is a private company, limited by shares, registered in England and Wales, registration number 11713716. The registered office is 4 Hillview Road, South Witham, Grantham, Lincolnshire, NG33 5QW, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
33% straight line
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Concept Plumbing Contracts Ltd Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2023
5,105 
59,919 
2,250 
67,274 
Additions
1,997 
29,000 
1,517 
32,514 
Disposals
- 
(22,336)
- 
(22,336)
At 29 February 2024
7,102 
66,583 
3,767 
77,452 
Depreciation
At 1 March 2023
1,405 
9,488 
1,856 
12,749 
Charge for the year
878 
12,294 
237 
13,409 
On disposals
- 
(5,583)
- 
(5,583)
At 29 February 2024
2,283 
16,199 
2,093 
20,575 
Net book value
At 29 February 2024
4,819 
50,384 
1,674 
56,877 
At 28 February 2023
3,700 
50,431 
394 
54,525 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
22,547 
2,311 
Trade debtors
23,278 
2,829 
Accrued income and prepayments
- 
1,400 
Other debtors
- 
18,937 
45,825 
25,477 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
10,551 
1,383 
Trade creditors
166,425 
17,606 
Taxes and social security
(18,931)
22,306 
Other creditors
62,919 
2,151 
Accruals
810 
808 
221,774 
44,254 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
32,154 
44,556 
8
Average number of employees
During the year the average number of employees was 7 (2023: 4).
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