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
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
Concept Plumbing Contracts Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
56,877
54,525
Inventories
120,456
11,154
Cash at bank and in hand
58,698
31,217
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)
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
Concept Plumbing Contracts Ltd
Notes to the Accounts
for the year ended 29 February 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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
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.
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.
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
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
At 29 February 2024
4,819
50,384
1,674
56,877
At 28 February 2023
3,700
50,431
394
54,525
Amounts falling due within one year
Trade debtors
23,278
2,829
Accrued income and prepayments
-
1,400
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
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).