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Registration number: 06993753

VTD Plumbing & Heating Services Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

VTD Plumbing & Heating Services Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 15

 

VTD Plumbing & Heating Services Ltd

Company Information

Director

Mr Volodymyr Tkachenko-Davies

Company secretary

Britannia Accountancy & Tax Services Ltd

Registered office

A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

Accountants

Britannia Accountancy & Tax Services Ltd
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

 

VTD Plumbing & Heating Services Ltd

Director's Report for the Year Ended 31 March 2024

The director presents his report and the financial statements for the year ended 31 March 2024.

Director of the company

The director who held office during the year was as follows:

Mr Volodymyr Tkachenko-Davies

Principal activity

The principal activity of the company is the provision of plumbing and heating services

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 16 August 2024 and signed on its behalf by:

.........................................
Mr Volodymyr Tkachenko-Davies
Director

   
     
 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
VTD Plumbing & Heating Services Ltd
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of VTD Plumbing & Heating Services Ltd for the year ended 31 March 2024 as set out on pages 4 to 15 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of VTD Plumbing & Heating Services Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of VTD Plumbing & Heating Services Ltd and state those matters that we have agreed to state to the Board of Directors of VTD Plumbing & Heating Services Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than VTD Plumbing & Heating Services Ltd and its Board of Directors as a body for our work or for this report. To the best of our knowledge at the time of preparation; all information contained in this report is accurate, based upon the information and representations made to us by VTD Plumbing & Heating Services Ltd

It is your duty to ensure that VTD Plumbing & Heating Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of VTD Plumbing & Heating Services Ltd. You consider that VTD Plumbing & Heating Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of VTD Plumbing & Heating Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Britannia Accountancy & Tax Services Ltd
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

16 August 2024

 

VTD Plumbing & Heating Services Ltd

Profit and Loss Account for the Year Ended 31 March 2024

Note

2024
£

2023
£

Turnover

 

527,283

719,159

Cost of sales

 

(635,141)

(550,627)

Gross (loss)/profit

 

(107,858)

168,532

Administrative expenses

 

(153,742)

(188,665)

Other operating income

 

230,000

-

Operating loss

 

(31,600)

(20,133)

Interest payable and similar expenses

 

(759)

(2,373)

Loss before tax

4

(32,359)

(22,506)

Loss for the financial year

 

(32,359)

(22,506)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

VTD Plumbing & Heating Services Ltd

Statement of Comprehensive Income for the Year Ended 31 March 2024

2024
£

2023
£

Loss for the year

(32,359)

(22,506)

Total comprehensive income for the year

(32,359)

(22,506)

 

VTD Plumbing & Heating Services Ltd

(Registration number: 06993753)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

56,225

68,566

Current assets

 

Stocks

6

347,577

347,577

Debtors

7

(13,584)

(53,725)

Cash at bank and in hand

 

9,709

27,553

 

343,702

321,405

Creditors: Amounts falling due within one year

8

(143,621)

(124,306)

Net current assets

 

200,081

197,099

Total assets less current liabilities

 

256,306

265,665

Creditors: Amounts falling due after more than one year

8

(88,500)

(65,500)

Net assets

 

167,806

200,165

Capital and reserves

 

Called up share capital

9

200,003

200,003

Retained earnings

(32,197)

162

Shareholders' funds

 

167,806

200,165

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 16 August 2024
 

.........................................
Mr Volodymyr Tkachenko-Davies
Director

   
     
 

VTD Plumbing & Heating Services Ltd

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

200,003

162

200,165

Loss for the year

-

(32,359)

(32,359)

At 31 March 2024

200,003

(32,197)

167,806

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

200,003

22,668

222,671

Loss for the year

-

(22,506)

(22,506)

At 31 March 2023

200,003

162

200,165

 

VTD Plumbing & Heating Services Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

The principal place of business is:
146 Nobes Avenue
Gosport
Hampshire
PO13 0HX
United Kingdom

These financial statements were authorised for issue by the director on 16 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

VTD Plumbing & Heating Services Ltd

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

18% on net book value

Vehicles

18% on net book value

Office equipment

18% on net book value

Furniture and fittings

18% on net book value

Amortisation

Asset class

Amortisation method and rate

Goodwill

10% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

VTD Plumbing & Heating Services Ltd

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

12,341

15,050

 

VTD Plumbing & Heating Services Ltd

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

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

770

103,778

5,800

110,348

At 31 March 2024

770

103,778

5,800

110,348

Depreciation

At 1 April 2023

658

35,743

5,381

41,782

Charge for the year

20

12,246

75

12,341

At 31 March 2024

678

47,989

5,456

54,123

Carrying amount

At 31 March 2024

92

55,789

344

56,225

At 31 March 2023

112

68,035

419

68,566

6

Stocks

2024
£

2023
£

Work in progress

347,577

347,577

7

Debtors

Current

2024
£

2023
£

Trade debtors

42,279

42,715

Other debtors

(55,863)

(96,440)

 

(13,584)

(53,725)

8

Creditors

Creditors: amounts falling due within one year

 

VTD Plumbing & Heating Services Ltd

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

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

86,687

87,261

Trade creditors

 

35,360

25,213

Taxation and social security

 

6,741

1,515

Accruals and deferred income

 

14,833

10,317

 

143,621

124,306

 

VTD Plumbing & Heating Services Ltd

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

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

22,500

32,500

Other non-current financial liabilities

 

66,000

33,000

 

88,500

65,500

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

Non-voting A of £1 each

1

1

1

1

Preference of £1,000 each

200

200,000

200

200,000

 

203

200,003

203

200,003

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

22,500

32,500

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

20,459

8,705

Other borrowings

66,228

78,556

86,687

87,261

11

Dividends

Final dividends paid

 

VTD Plumbing & Heating Services Ltd

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

 

2024
£

2023
£

Final dividend of £0 per each Ordinary share

-

-

Final dividend of £0 per each Non-voting A share

-

-

 

-

-

Interim dividends paid

 

2024
£

2023
£

Interim dividend of £0 per each Ordinary share

-

-

Interim dividend of £0 per each Non-voting A share

-

-

 

-

-

12

Related party transactions

 

VTD Plumbing & Heating Services Ltd

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

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,100

11,908