2022-09-012023-08-312023-08-31false08637117NSM Plumbing 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NSM Plumbing Limited

Registered Number
08637117
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

NSM Plumbing Limited
Company Information
for the year from 1 September 2022 to 31 August 2023

Director

Mather, Nicholas Stewart

Registered Address

1 Park Gardens
Yeovil
BA20 1DW

Place of Business

3 Five Acres

Stoford

Yeovil

BA22 9UP


Registered Number

08637117 (England and Wales)
NSM Plumbing Limited
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets313,66219,555
13,66219,555
Current assets
Stocks150200
Debtors41,5402,916
Cash at bank and on hand2,5002,565
4,1905,681
Creditors amounts falling due within one year5(12,226)(30,999)
Net current assets (liabilities)(8,036)(25,318)
Total assets less current liabilities5,626(5,763)
Creditors amounts falling due after one year(19,167)(22,500)
Net assets(13,541)(28,263)
Capital and reserves
Called up share capital100100
Profit and loss account(13,641)(28,363)
Shareholders' funds(13,541)(28,263)
The financial statements were approved and authorised for issue by the Director on 5 April 2024, and are signed on its behalf by:
Mather, Nicholas Stewart
Director
Registered Company No. 08637117
NSM Plumbing Limited
Notes to the Financial Statements
for the year ended 31 August 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-10
Plant and machinery25-
Fixtures and fittings25-
Vehicles20-
Office Equipment25-
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
2.Average number of employees
The following average number of employees includes directors

20232022
Average number of employees during the year12
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 September 2260,580
Disposals(23,258)
At 31 August 2337,322
Depreciation and impairment
At 01 September 2241,025
Charge for year2,860
On disposals(20,225)
At 31 August 2323,660
Net book value
At 31 August 2313,662
At 31 August 2219,555
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables4851,251
Other debtors579579
Prepayments and accrued income4761,086
Total1,5402,916
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables3,6303,419
Bank borrowings and overdrafts3,3333,333
Amounts owed to related parties4,31221,991
Taxation and social security3191,476
Accrued liabilities and deferred income632780
Total12,22630,999
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.