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Registration number: 12279892

TS Plumbing and Heating Services Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

TS Plumbing and Heating Services Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

TS Plumbing and Heating Services Ltd

Company Information




 

Directors

Mrs Donna Maria Smith

Mr Josh Thomas Robert Smith

Mr Jack David Robert Smith

Mr Trevor Robert Smith



 

Registered office

2a Poles Copse, Poles Lane
Otterbourne
Winchester
Hampshire
SO21 2DZ

 

Accountants

Magenta Accounts Limited
 2a Poles Copse, Poles Lane
Otterbourne
Winchester
Hampshire
SO21 2DZ

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
TS Plumbing and Heating Services Ltd
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TS Plumbing and Heating Services Ltd for the year ended 31 December 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of TS Plumbing and Heating Services Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of TS Plumbing and Heating Services Ltd and state those matters that we have agreed to state to the Board of Directors of TS Plumbing and Heating Services Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TS Plumbing and Heating Services Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that TS Plumbing and Heating Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of TS Plumbing and Heating Services Ltd. You consider that TS Plumbing and Heating Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of TS Plumbing and Heating Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.




Magenta Accounts Limited
2a Poles Copse, Poles Lane
Otterbourne
Winchester
Hampshire
SO21 2DZ


 

17 April 2024

 

TS Plumbing and Heating Services Ltd

(Registration number: 12279892)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

4

 

82,794

 

72,134

Current assets

   

 

Stocks

5

20,000

 

20,000

 

Debtors

6

135,614

 

146,680

 

Cash at bank and in hand

 

26,025

 

-

 

 

181,639

 

166,680

 

Creditors: Amounts falling due within one year

7

(217,798)

 

(170,193)

 

Net current liabilities

   

(36,159)

 

(3,513)

Total assets less current liabilities

   

46,635

 

68,621

Creditors: Amounts falling due after more than one year

7

 

(45,796)

 

(66,912)

Net assets

   

839

 

1,709

Capital and reserves

   

 

Called up share capital

8

4

 

4

 

Profit and loss account

835

 

1,705

 

Shareholders' funds

   

839

 

1,709

 

TS Plumbing and Heating Services Ltd

(Registration number: 12279892)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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 delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 April 2024 and signed on its behalf by:
 

.........................................
Mr Josh Thomas Robert Smith
Director

 

TS Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
2a Poles Copse, Poles Lane
Otterbourne
Winchester
Hampshire
SO21 2DZ

The principal place of business is:
Los Pinares
Sandy Lane
Belbins
Romsey
SO51 0PD

2

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 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 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.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The company has net current liabilities as at the balance sheet date, however this is due to investment in vehicles during the year that have contributed towards the increased profitability. As such the financial statements have been prepared on a going concern basis.

Revenue recognition

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

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.

 

TS Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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

Motor Vehicles

4 years at cost

Plant & Machinery

4 years at cost

Computer Equipment

3 years at cost

Stocks

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

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are changes to profit or loss in the period to which they relate.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2022 - 11).

 

TS Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

1,300

118,021

119,321

Additions

-

44,433

44,433

Disposals

-

(8,990)

(8,990)

At 31 December 2023

1,300

153,464

154,764

Depreciation

At 1 January 2023

1,050

46,136

47,186

Charge for the year

250

29,591

29,841

Eliminated on disposal

-

(5,057)

(5,057)

At 31 December 2023

1,300

70,670

71,970

Carrying amount

At 31 December 2023

-

82,794

82,794

At 31 December 2022

250

71,884

72,134

5

Stocks

2023
£

2022
£

Other inventories

20,000

20,000

 

TS Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

95,136

85,148

Prepayments

5,731

5,732

Other debtors

34,747

55,800

 

135,614

146,680

Details of non-current trade and other debtors

£4,228 (2022 -£11,797) of S455 Tax is classified as non current.

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

52,643

25,770

Trade creditors

 

52,128

82,625

Taxation and social security

 

63,552

48,829

Accruals and deferred income

 

40,063

2,500

Other creditors

 

9,412

10,469

 

217,798

170,193

Included in loans and borrowings are HP balances which are secured on the vehicles to which they relate (note 10)

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

45,796

66,912

Included in Loans and borrowings are HP balances which are secured on the vehicles to which they relate (note 10)

 

TS Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares A to D of £1 each

4

4

4

4

         


 

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

14,281

24,172

Hire purchase contracts

31,515

42,740

45,796

66,912

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,649

10,649

Bank overdrafts

31,140

16,329

Hire purchase contracts

10,854

(1,208)

52,643

25,770

10

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr Trevor Robert Smith

Loan to director

25,195

-

(21,756)

3,439

         
       

Mrs Donna Maria Smith

Loan to director

11,105

-

(1,536)

9,569

         
       

 

TS Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

 

2022

At 1 January 2022
£

Repayments by director
£

At 31 December 2022
£

Mr Trevor Robert Smith

Loan to director

29,099

(3,904)

25,195

       
     

Mrs Donna Maria Smith

Loan to director

18,250

(7,145)

11,105