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REGISTERED NUMBER: 03570079 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PREMIER PLUMBING & HEATING SUPPLIES LTD

PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREMIER PLUMBING & HEATING SUPPLIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M R Hammond
P K Hammond
J G Noble





SECRETARY: M R Hammond





REGISTERED OFFICE: 124 High Street
Midsomer Norton
Bath
BA3 2DA





REGISTERED NUMBER: 03570079 (England and Wales)





ACCOUNTANTS: PG Owen Limited
Chartered Accountants
124 High Street
Midsomer Norton
Bath
Avon
BA3 2DA

PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 29,959 37,543
Investments 6 201 201
30,160 37,744

CURRENT ASSETS
Stocks 201,060 244,128
Debtors 7 211,724 326,662
Investments 8 2,550 2,550
Cash at bank and in hand 65,793 216,526
481,127 789,866
CREDITORS
Amounts falling due within one year 9 184,630 452,850
NET CURRENT ASSETS 296,497 337,016
TOTAL ASSETS LESS CURRENT
LIABILITIES

326,657

374,760

PROVISIONS FOR LIABILITIES 10 7,439 6,037
NET ASSETS 319,218 368,723

CAPITAL AND RESERVES
Called up share capital 1,080 1,080
Retained earnings 318,138 367,643
SHAREHOLDERS' FUNDS 319,218 368,723

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.

PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 June 2024 and were signed on its behalf by:




M R Hammond - Director



P K Hammond - Director


PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)

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

1. STATUTORY INFORMATION

Premier Plumbing & Heating Supplies Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 2009, is being amortised evenly over its estimated useful life of five 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.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)

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.

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.

Fixed asset investments
Investments in subsidiary undertakings are stated at cost less any provisions for impairment in value.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 2,500
AMORTISATION
At 1 April 2023
and 31 March 2024 2,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 11,675 5,886 33,421
Additions - - 1,173
At 31 March 2024 11,675 5,886 34,594
DEPRECIATION
At 1 April 2023 6,151 3,867 25,948
Charge for year 671 303 1,298
At 31 March 2024 6,822 4,170 27,246
NET BOOK VALUE
At 31 March 2024 4,853 1,716 7,348
At 31 March 2023 5,524 2,019 7,473

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 44,253 69,561 164,796
Additions - - 1,173
At 31 March 2024 44,253 69,561 165,969
DEPRECIATION
At 1 April 2023 24,686 66,601 127,253
Charge for year 4,892 1,593 8,757
At 31 March 2024 29,578 68,194 136,010
NET BOOK VALUE
At 31 March 2024 14,675 1,367 29,959
At 31 March 2023 19,567 2,960 37,543

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 201
NET BOOK VALUE
At 31 March 2024 201
At 31 March 2023 201

PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 189,583 239,650
Other debtors - 61,363
Directors' current accounts 20,949 20,251
Prepayments and accrued income 1,192 5,398
211,724 326,662

8. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 2,550 2,550

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 116,737 406,095
Tax 30,456 28,713
Social security and other taxes 23,043 3,390
Other creditors 508 432
Directors' current accounts 9,196 9,755
Accrued expenses 4,690 4,465
184,630 452,850

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 7,439 6,037

Deferred
tax
£   
Balance at 1 April 2023 6,037
Charge to Income Statement during year 1,402
Balance at 31 March 2024 7,439

PREMIER PLUMBING & HEATING SUPPLIES LTD (REGISTERED NUMBER: 03570079)

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

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
M R Hammond
Balance outstanding at start of year 20,251 19,701
Amounts advanced 60,794 58,178
Amounts repaid (60,096 ) (57,628 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,949 20,251

The above amount was repaid during the next period.

12. RELATED PARTY DISCLOSURES

The company was under the control of the Directors throughout this and the previous period.
Where applicable, interest is charged on overdrawn directors' loan account balances at the official rate.

During the year the directors made the following purchases from the business, at arms length:

P Hammond £710 (2023:£96); M Hammond £39 (2023:£258); J Noble £328 (2023:£1,444)