2023-01-012023-12-312023-12-31false05658650Mike Dalzell Plumbing and Heating Engineer 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Mike Dalzell Plumbing and Heating Engineer Ltd

Registered Number
05658650
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Mike Dalzell Plumbing and Heating Engineer Ltd
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

Michael Birkett Dalzell

Company Secretary

Helen Dalzell

Registered Address

Ash Hayes
Ambleside Road
Keswick
CA12 4DN

Registered Number

05658650 (England and Wales)
Mike Dalzell Plumbing and Heating Engineer Ltd
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets32,0252,680
2,0252,680
Current assets
Stocks4850850
Debtors51,6863,699
Cash at bank and on hand7,4988,409
10,03412,958
Creditors amounts falling due within one year6(9,804)(4,132)
Net current assets (liabilities)2308,826
Total assets less current liabilities2,25511,506
Net assets2,25511,506
Capital and reserves
Called up share capital100100
Profit and loss account2,15511,406
Shareholders' funds2,25511,506
The financial statements were approved and authorised for issue by the Director on 9 July 2024, and are signed on its behalf by:
Michael Birkett Dalzell
Director
Registered Company No. 05658650
Mike Dalzell Plumbing and Heating Engineer Ltd
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Vehicles25
Office Equipment15
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20232022
Average number of employees during the year33
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 January 235,9956,02812,023
At 31 December 235,9956,02812,023
Depreciation and impairment
At 01 January 233,4665,8779,343
Charge for year63223655
At 31 December 234,0985,9009,998
Net book value
At 31 December 231,8971282,025
At 31 December 222,5291512,680
4.Stocks

2023

2022

££
Work in progress850850
Total850850
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables1,3742,477
Other debtors-849
Prepayments and accrued income312373
Total1,6863,699
6.Creditors: amounts due within one year

2023

2022

££
Taxation and social security1,6253,228
Other creditors6,433-
Accrued liabilities and deferred income1,746904
Total9,8044,132
7.Directors advances, credits and guarantees
Included within other debtors falling due within one year is £Nil (2022 - £849) being the amount owed by the director. Amounts repaid during the year were £849. These amounts were both repaid within nine months of the financial year. The loans where charged the official rate of interest were applicable and were repayable on demand.