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Registered number: 5747290
PETER HOLDING PLUMBING LTD
Unaudited Financial Statements
For The Year Ended 31 March 2024
PETER BROWN ACCOUNTANTS
A.F.A.
Kirks Folly, Church Road
Stanton upon hine Heath
Shrewsbury
Shropshire
SY4 4NF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 5747290
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 98,174 100,272
98,174 100,272
CURRENT ASSETS
Debtors 6 2,799 4,800
Cash at bank and in hand 83,326 90,298
86,125 95,098
Creditors: Amounts Falling Due Within One Year 7 (34,055 ) (37,942 )
NET CURRENT ASSETS (LIABILITIES) 52,070 57,156
TOTAL ASSETS LESS CURRENT LIABILITIES 150,244 157,428
NET ASSETS 150,244 157,428
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 150,242 157,426
SHAREHOLDERS' FUNDS 150,244 157,428
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr PETER HOLDING
Director
06/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PETER HOLDING PLUMBING LTD is a private company, limited by shares, incorporated in England & Wales, registered number 5747290 . The registered office is PARK VIEW, LLANERCHYDOL, WELSHPOOL, POWYS, SY21 9PQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance Basis
Motor Vehicles 25% Reducing Balance Basis
Fixtures & Fittings 25% Reducing Balance Basis
Computer Equipment 25% Reducing Balance Basis
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Manufacturing 9 9
10 10
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 20,000
As at 31 March 2024 20,000
Amortisation
As at 1 April 2023 20,000
As at 31 March 2024 20,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 59,987 182,483 6,901 19,754 269,125
Additions 3,696 25,308 - 1,623 30,627
As at 31 March 2024 63,683 207,791 6,901 21,377 299,752
Depreciation
As at 1 April 2023 50,135 98,954 6,229 13,535 168,853
Provided during the period 3,387 27,210 168 1,960 32,725
As at 31 March 2024 53,522 126,164 6,397 15,495 201,578
Net Book Value
As at 31 March 2024 10,161 81,627 504 5,882 98,174
As at 1 April 2023 9,852 83,529 672 6,219 100,272
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 4,800
Other taxes and social security 2,799 -
2,799 4,800
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,399 1,738
Corporation tax 2,823 8,479
VAT 25,722 23,133
Credit Card Creditor - 200
Nest Pension account (480 ) 1,297
Accruals and deferred income 1,050 980
Director's loan account 2,541 2,115
34,055 37,942
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 5