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Company No: 08415222 (England and Wales)

SAFFRON PLUMBING AND HEATING LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

SAFFRON PLUMBING AND HEATING LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

SAFFRON PLUMBING AND HEATING LIMITED

COMPANY INFORMATION

For the financial year ended 29 February 2024
SAFFRON PLUMBING AND HEATING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 29 February 2024
DIRECTORS Mr E J Johnston
Mrs J Johnston
REGISTERED OFFICE 39 Kenwith Drive
Kingsbridge
TQ7 1DU
United Kingdom
COMPANY NUMBER 08415222 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
SAFFRON PLUMBING AND HEATING LIMITED

BALANCE SHEET

As at 29 February 2024
SAFFRON PLUMBING AND HEATING LIMITED

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 38,677 29,103
38,677 29,103
Current assets
Stocks 6,500 6,500
Debtors 4 24,656 15,421
Cash at bank and in hand 43,359 57,654
74,515 79,575
Creditors: amounts falling due within one year 5 ( 27,596) ( 21,131)
Net current assets 46,919 58,444
Total assets less current liabilities 85,596 87,547
Creditors: amounts falling due after more than one year 6 ( 30,371) ( 33,817)
Provision for liabilities ( 7,349) ( 5,530)
Net assets 47,876 48,200
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 47,776 48,100
Total shareholders' funds 47,876 48,200

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Saffron Plumbing and Heating Limited (registered number: 08415222) were approved and authorised for issue by the Board of Directors on 09 August 2024. They were signed on its behalf by:

Mr E J Johnston
Director
SAFFRON PLUMBING AND HEATING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
SAFFRON PLUMBING AND HEATING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Saffron Plumbing and Heating Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 39 Kenwith Drive, Kingsbridge, TQ7 1DU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 March 2023 4,809 41,750 3,299 1,406 51,264
Additions 757 42,251 0 0 43,008
Disposals 0 ( 29,940) 0 0 ( 29,940)
At 29 February 2024 5,566 54,061 3,299 1,406 64,332
Accumulated depreciation
At 01 March 2023 3,186 15,475 2,671 829 22,161
Charge for the financial year 325 8,914 126 116 9,481
Disposals 0 ( 5,987) 0 0 ( 5,987)
At 29 February 2024 3,511 18,402 2,797 945 25,655
Net book value
At 29 February 2024 2,055 35,659 502 461 38,677
At 28 February 2023 1,623 26,275 628 577 29,103

4. Debtors

2024 2023
£ £
Trade debtors 17,686 9,484
Prepayments 1,400 1,400
VAT recoverable 5,570 4,537
24,656 15,421

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 12,486 10,175
Accruals 3,033 2,923
Taxation and social security 4,656 2,120
Obligations under finance leases and hire purchase contracts 3,123 3,547
Other creditors 4,298 2,366
27,596 21,131

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Amounts owed to directors 21,004 22,387
Obligations under finance leases and hire purchase contracts 9,367 11,430
30,371 33,817

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100