ANDY BLACKHURST PLUMBING & HEATING LTD
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 18,741 21,376
Current assets
Stocks 1,000 1,000
Debtors 4 2,295 2,421
Cash at bank and in hand 20,132 21,718
23,427 25,139
Creditors: amounts falling due within one year 5 (38,039) (31,661)
Net current liabilities (14,612) (6,522)
Total assets less current liabilities 4,129 14,854
Creditors: amounts falling due after more than one year - (10,000)
Provisions for liabilities (3,561) (3,836)
Net assets 568 1,018
Capital and reserves
Called up share capital 100 100
Profit and loss account 468 918
Shareholders' funds 568 1,018
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J.A. BLACKHURST
Director
Approved by the board on 15 August 2024
ANDY BLACKHURST PLUMBING & HEATING LTD
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Motor vehicles 15% reducing balance basis
Tools and office equipment 10% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Tools and office equipment Motor vehicles Total
£ £ £
Cost
At 1 December 2022 2,589 33,988 36,577
Additions 567 - 567
At 30 November 2023 3,156 33,988 37,144
Depreciation
At 1 December 2022 1,368 13,833 15,201
Charge for the year 179 3,023 3,202
At 30 November 2023 1,547 16,856 18,403
Net book value
At 30 November 2023 1,609 17,132 18,741
At 30 November 2022 1,221 20,155 21,376
4 Debtors 2023 2022
£ £
Trade debtors 1,979 2,157
Prepayments 316 264
2,295 2,421
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loan (unsecured) 2,244 4,000
Trade creditors 6,071 4,426
Corporation tax 1,480 1,305
Director's loan account 28,244 21,930
38,039 31,661
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loan (unsecured) - 10,000
7 Controlling party
The director of the company at the Balance Sheet date owns 60% of the issued share capital of the company. The wife of the director owns the remaining 40% of the issued share capital.
8 Other information
ANDY BLACKHURST PLUMBING & HEATING LTD is a private company limited by shares and incorporated in England (Company Number 08792090). Its registered office is 2, Hampshire Crescent, Orchard Gardens, Lightwood, Stoke-on-Trent, Staffordshire, ST3 4TR.
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