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REGISTERED NUMBER: 12575630 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

NORWICH HEATING AND PLUMBING SUPPLIES
LTD

NORWICH HEATING AND PLUMBING SUPPLIES
LTD (REGISTERED NUMBER: 12575630)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


NORWICH HEATING AND PLUMBING SUPPLIES
LTD (REGISTERED NUMBER: 12575630)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 13,155 15,317
Tangible assets 5 11,144 21,079
24,299 36,396

CURRENT ASSETS
Stocks 233,026 234,544
Debtors 6 373,592 468,534
Cash at bank and in hand 133,795 112,568
740,413 815,646
CREDITORS
Amounts falling due within one year 7 588,705 716,780
NET CURRENT ASSETS 151,708 98,866
TOTAL ASSETS LESS CURRENT
LIABILITIES

176,007

135,262

CREDITORS
Amounts falling due after more than one year 8 (54,166 ) (79,495 )

PROVISIONS FOR LIABILITIES (2,786 ) (5,270 )
NET ASSETS 119,055 50,497

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 119,053 50,495
SHAREHOLDERS' FUNDS 119,055 50,497

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

NORWICH HEATING AND PLUMBING SUPPLIES
LTD (REGISTERED NUMBER: 12575630)

BALANCE SHEET - continued
31 MARCH 2024


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2024 and were signed on its behalf by:





Mr L J Betts - Director


NORWICH HEATING AND PLUMBING SUPPLIES
LTD (REGISTERED NUMBER: 12575630)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Norwich Heating And Plumbing Supplies Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12575630

Registered office: 9 Marriott Close
Norwich
Norfolk
NR2 4UX

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 20% on cost and 20% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


NORWICH HEATING AND PLUMBING SUPPLIES
LTD (REGISTERED NUMBER: 12575630)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 21,624
AMORTISATION
At 1 April 2023 6,307
Charge for year 2,162
At 31 March 2024 8,469
NET BOOK VALUE
At 31 March 2024 13,155
At 31 March 2023 15,317

NORWICH HEATING AND PLUMBING SUPPLIES
LTD (REGISTERED NUMBER: 12575630)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 38,008
Additions 801
Disposals (6,312 )
At 31 March 2024 32,497
DEPRECIATION
At 1 April 2023 16,929
Charge for year 5,160
Eliminated on disposal (736 )
At 31 March 2024 21,353
NET BOOK VALUE
At 31 March 2024 11,144
At 31 March 2023 21,079

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 6,312
Disposals (6,312 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 736
Eliminated on disposal (736 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 5,576

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 363,881 435,505
Other debtors 9,711 33,029
373,592 468,534

NORWICH HEATING AND PLUMBING SUPPLIES
LTD (REGISTERED NUMBER: 12575630)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,667 21,667
Hire purchase contracts - 2,500
Trade creditors 490,299 641,743
Taxation and social security 63,487 25,220
Other creditors 13,252 25,650
588,705 716,780

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 54,166 75,833
Hire purchase contracts - 3,662
54,166 79,495

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 75,833 97,500
Hire purchase contracts - 6,162
75,833 103,662

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A 1p 1 1
100 Ordinary B 1p 1 1
11 Ordinary C 1p - -
2 2

11 Ordinary C shares of 1p each were allotted and fully paid for cash at par during the year.

11. OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies is £247,223 (2023 - £36,728)