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REGISTERED NUMBER: 10091396 (England and Wales)

























Financial Statements

for the Year Ended 31 March 2024

for

Philip Cheeseman and Sons Plumbing and
Heating Ltd

Philip Cheeseman and Sons Plumbing and
Heating Ltd (Registered number: 10091396)






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


Philip Cheeseman and Sons Plumbing and
Heating Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P Cheeseman
L A Cheeseman
J L Cheeseman





SECRETARY: Mrs I A Cheeseman





REGISTERED OFFICE: The Old Post Office
41-43 Market Place
Chippenham
Wiltshire
SN15 3HR





REGISTERED NUMBER: 10091396 (England and Wales)





ACCOUNTANTS: Mander Duffill
Chartered Accountants
The Old Post Office
41-43 Market Place
Chippenham
Wiltshire
SN15 3HR

Philip Cheeseman and Sons Plumbing and
Heating Ltd (Registered number: 10091396)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,957 27,368

CURRENT ASSETS
Stocks 31,860 30,950
Debtors 5 89,194 72,290
Cash at bank 101 1,694
121,155 104,934
CREDITORS
Amounts falling due within one year 6 75,976 52,689
NET CURRENT ASSETS 45,179 52,245
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,136

79,613

CREDITORS
Amounts falling due after more than one
year

7

(56,545

)

(68,607

)

PROVISIONS FOR LIABILITIES (4,989 ) (6,842 )
NET ASSETS 3,602 4,164

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 3,302 3,864
SHAREHOLDERS' FUNDS 3,602 4,164

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.

Philip Cheeseman and Sons Plumbing and
Heating Ltd (Registered number: 10091396)

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 8 August 2024 and were signed on its behalf by:




P Cheeseman - Director L A Cheeseman - Director




J L Cheeseman - Director


Philip Cheeseman and Sons Plumbing and
Heating Ltd (Registered number: 10091396)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Philip Cheeseman and Sons Plumbing and Heating 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 20% on reducing balance

Stocks
Stock has been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress, cost includes a relevant proportion of overheads according to the stage manufacture or completion.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Philip Cheeseman and Sons Plumbing and
Heating Ltd (Registered number: 10091396)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 57,404
Additions 831
Disposals (11,899 )
At 31 March 2024 46,336
DEPRECIATION
At 1 April 2023 30,036
Charge for year 7,011
Eliminated on disposal (10,668 )
At 31 March 2024 26,379
NET BOOK VALUE
At 31 March 2024 19,957
At 31 March 2023 27,368

Philip Cheeseman and Sons Plumbing and
Heating Ltd (Registered number: 10091396)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 28,499
DEPRECIATION
At 1 April 2023 7,125
Charge for year 5,344
At 31 March 2024 12,469
NET BOOK VALUE
At 31 March 2024 16,030
At 31 March 2023 21,374

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 36,484 24,712
Other debtors 52,710 47,578
89,194 72,290

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,281 15,928
Trade creditors 41,551 20,511
Other creditors 24,144 16,250
75,976 52,689

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 56,545 68,607