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REGISTERED NUMBER: SC172258 (Scotland)















Financial Statements for the Year Ended 31 March 2024

for

SOUTHERN PLUMBING & HEATING LIMITED

SOUTHERN PLUMBING & HEATING LIMITED (REGISTERED NUMBER: SC172258)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


SOUTHERN PLUMBING & HEATING LIMITED (REGISTERED NUMBER: SC172258)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 4 4,176 6,418

Current assets
Stocks 1,590 1,654
Debtors 5 17,487 21,229
Cash at bank 113,330 82,450
132,407 105,333
Creditors
Amounts falling due within one year 6 (51,322 ) (47,969 )
Net current assets 81,085 57,364
Total assets less current liabilities 85,261 63,782

Provisions for liabilities (960 ) (1,219 )
Net assets 84,301 62,563

Capital and reserves
Called up share capital 7 2 2
Retained earnings 84,299 62,561
Shareholders' funds 84,301 62,563

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:





D P Keenan - Director


SOUTHERN PLUMBING & HEATING LIMITED (REGISTERED NUMBER: SC172258)

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


1. Statutory information

Southern Plumbing & Heating Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC172258

Registered office: Unit 3A
Lady Victoria Business Centre
Newtongrange
Midlothian
EH22 4QN

The presentation currency of the financial statements is the Pound Sterling (£).


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 derived from fees issued for plumbing and heating engineer work and is recognised when the service is delivered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Current taxation represents the amount of taxation payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation represents the future taxation consequences of transactions and events recognised in the
financial statements of current and previous periods. It is recognised in respect of all timing differences, with
certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved taxation losses and other deferred taxation assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred taxation liabilities or other future taxable profits.

Deferred taxation is measured using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

SOUTHERN PLUMBING & HEATING LIMITED (REGISTERED NUMBER: SC172258)

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 money purchase (defined contribution) pension scheme. Contributions are charged against profits on the amounts payable for the year.

Hire purchase and leases
Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their estimated useful lives.

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

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Bank and cash
Cash at bank and in hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

3. Employees and directors

The average number of employees during the year was 4 (2023 - 5 ) .

4. Tangible fixed assets
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1 April 2023
and 31 March 2024 1,888 42,230 44,118
Depreciation
At 1 April 2023 1,736 35,964 37,700
Charge for year 152 2,090 2,242
At 31 March 2024 1,888 38,054 39,942
Net book value
At 31 March 2024 - 4,176 4,176
At 31 March 2023 152 6,266 6,418

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 17,487 21,229

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 5,639 16,220
Taxation and social security 37,524 23,436
Other creditors 8,159 8,313
51,322 47,969

SOUTHERN PLUMBING & HEATING LIMITED (REGISTERED NUMBER: SC172258)

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


7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2