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Registration number: 11688356

Barnet Plumbing and Bathrooms Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 November 2023

 

Barnet Plumbing and Bathrooms Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Barnet Plumbing and Bathrooms Ltd

Company Information

Directors

R Gates

DH Sheridan

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

Accountants

Ross & Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

Barnet Plumbing and Bathrooms Ltd

(Registration number: 11688356)
Abridged Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

3

15,395

16,934

Tangible assets

4

13,982

18,493

 

29,377

35,427

Current assets

 

Stocks

30,000

30,000

Debtors

30,527

50,749

Cash at bank and in hand

 

369,374

312,561

 

429,901

393,310

Creditors: Amounts falling due within one year

(198,317)

(252,499)

Net current assets

 

231,584

140,811

Net assets

 

260,961

176,238

Capital and reserves

 

Called up share capital

100

100

Retained earnings

260,861

176,138

Shareholders' funds

 

260,961

176,238

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Barnet Plumbing and Bathrooms Ltd

(Registration number: 11688356)
Abridged Balance Sheet as at 30 November 2023

Approved and authorised by the Board on 5 April 2024 and signed on its behalf by:
 

.........................................
DH Sheridan
Director

   
     
 

Barnet Plumbing and Bathrooms Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33.3% straight line basis

 

Barnet Plumbing and Bathrooms Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 15 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

 

Barnet Plumbing and Bathrooms Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

3

Intangible assets

Total
£

Cost or valuation

At 1 December 2022

23,091

At 30 November 2023

23,091

Amortisation

At 1 December 2022

6,157

Amortisation charge

1,539

At 30 November 2023

7,696

Carrying amount

At 30 November 2023

15,395

At 30 November 2022

16,934

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

5,000

4,287

31,330

40,617

Additions

-

583

-

583

At 30 November 2023

5,000

4,870

31,330

41,200

Depreciation

At 1 December 2022

2,188

3,919

16,017

22,124

Charge for the year

703

562

3,829

5,094

At 30 November 2023

2,891

4,481

19,846

27,218

Carrying amount

At 30 November 2023

2,109

389

11,484

13,982

At 30 November 2022

2,812

368

15,313

18,493

 

Barnet Plumbing and Bathrooms Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100