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REGISTERED NUMBER: 03877230 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

PLUMBERS MATE LIMITED

PLUMBERS MATE LIMITED (REGISTERED NUMBER: 03877230)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PLUMBERS MATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: K C Meech
B Meech
Ms D E Philps





SECRETARY: B Meech





REGISTERED OFFICE: 2 Firle Road
Eastbourne
East Sussex
BN22 8DP





REGISTERED NUMBER: 03877230 (England and Wales)





ACCOUNTANTS: Advanta
Chartered Accountants
29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU

PLUMBERS MATE LIMITED (REGISTERED NUMBER: 03877230)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 34,913 17,078
34,913 17,078

CURRENT ASSETS
Stocks 6 455,000 450,000
Debtors 7 18,306 17,093
Cash at bank and in hand 50,371 53,141
523,677 520,234
CREDITORS
Amounts falling due within one year 8 142,720 156,338
NET CURRENT ASSETS 380,957 363,896
TOTAL ASSETS LESS CURRENT
LIABILITIES

415,870

380,974

PROVISIONS FOR LIABILITIES 10 6,454 2,828
NET ASSETS 409,416 378,146

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 409,316 378,046
SHAREHOLDERS' FUNDS 409,416 378,146

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.

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 13 August 2024 and were signed on its behalf by:





K C Meech - Director


PLUMBERS MATE LIMITED (REGISTERED NUMBER: 03877230)

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


1. STATUTORY INFORMATION

Plumbers Mate Limited 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 2000, is being amortised evenly over its estimated useful life of twenty 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 - over the term of the lease
Plant & machinery - 25% on reducing balance
Furniture,fittings & equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

PLUMBERS MATE LIMITED (REGISTERED NUMBER: 03877230)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 60,000
AMORTISATION
At 1 April 2023
and 31 March 2024 60,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Improvements
to Plant & Furniture,fittings
property machinery & equipment
£    £    £   
COST
At 1 April 2023 45,763 27,997 38,298
Additions - 5,000 -
At 31 March 2024 45,763 32,997 38,298
DEPRECIATION
At 1 April 2023 45,763 16,496 34,687
Charge for year - 4,125 542
At 31 March 2024 45,763 20,621 35,229
NET BOOK VALUE
At 31 March 2024 - 12,376 3,069
At 31 March 2023 - 11,501 3,611

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 23,200 16,114 151,372
Additions - 26,989 31,989
At 31 March 2024 23,200 43,103 183,361
DEPRECIATION
At 1 April 2023 21,234 16,114 134,294
Charge for year 491 8,996 14,154
At 31 March 2024 21,725 25,110 148,448
NET BOOK VALUE
At 31 March 2024 1,475 17,993 34,913
At 31 March 2023 1,966 - 17,078

PLUMBERS MATE LIMITED (REGISTERED NUMBER: 03877230)

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


6. STOCKS
2024 2023
£    £   
Stocks 455,000 450,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,049 11,364
Other debtors 1,300 1,300
Prepayments 4,957 4,429
18,306 17,093

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 30,475 34,523
Tax 3,713 8,229
VAT 8,959 392
Other creditors 3,500 3,500
Directors' current accounts 92,059 106,684
Accrued expenses 4,014 3,010
142,720 156,338

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 14,000 -
Between one and five years 42,000 -
56,000 -

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated / decelerated capital allowances 6,454 2,828

Deferred
tax
£   
Balance at 1 April 2023 2,828
Provided during year 3,626
Balance at 31 March 2024 6,454

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K C Meech.