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REGISTERED NUMBER: 07821792 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Valley Plumbing & Heating Systems
Limited

Valley Plumbing & Heating Systems
Limited (Registered number: 07821792)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Valley Plumbing & Heating Systems
Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr J S Lewin
Mr P Lewin





SECRETARY: Mrs P Lewin





REGISTERED OFFICE: 9 Ridings Close
Asfordby
Melton Mowbray
Leicestershire
LE14 3TA





REGISTERED NUMBER: 07821792 (England and Wales)





ACCOUNTANTS: SRB Associates (Leicestershire) Limited
Pera Business Park
Nottingham Road
Melton Mowbray
Leicestershire
LE13 0PB

Valley Plumbing & Heating Systems
Limited (Registered number: 07821792)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,118 21,224
Investments 5 43,180 39,546
81,298 60,770

CURRENT ASSETS
Stocks 6 16,014 10,560
Debtors 7 74,643 84,335
Cash at bank and in hand 72,924 33,163
163,581 128,058
CREDITORS
Amounts falling due within one year 8 100,203 71,756
NET CURRENT ASSETS 63,378 56,302
TOTAL ASSETS LESS CURRENT
LIABILITIES

144,676

117,072

CREDITORS
Amounts falling due after more than one
year

9

(27,296

)

(27,446

)

PROVISIONS FOR LIABILITIES 11 (7,006 ) (3,796 )
NET ASSETS 110,374 85,830

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 110,274 85,730
SHAREHOLDERS' FUNDS 110,374 85,830

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

Valley Plumbing & Heating Systems
Limited (Registered number: 07821792)

Balance Sheet - continued
30 November 2023


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 21 August 2024 and were signed on its behalf by:





Mr P Lewin - Director


Valley Plumbing & Heating Systems
Limited (Registered number: 07821792)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Valley Plumbing & Heating Systems 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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises the invoiced value of goods and services supplied by the company during the period, (excluding vat).

Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Freehold property - Nil
Plant & machinery - 20% reducing balance basis
Fixtures and fittings - 20% reducing balance basis
Motor vehicles - 25% reducing balance basis
Computer equipment - 33.33% straight line basis

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Valley Plumbing & Heating Systems
Limited (Registered number: 07821792)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 December 2022 1,245 8,885 765
Additions - 370 -
At 30 November 2023 1,245 9,255 765
DEPRECIATION
At 1 December 2022 - 7,326 360
Charge for year - 385 81
At 30 November 2023 - 7,711 441
NET BOOK VALUE
At 30 November 2023 1,245 1,544 324
At 30 November 2022 1,245 1,559 405

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 41,924 1,645 54,464
Additions 28,895 - 29,265
At 30 November 2023 70,819 1,645 83,729
DEPRECIATION
At 1 December 2022 24,311 1,243 33,240
Charge for year 11,627 278 12,371
At 30 November 2023 35,938 1,521 45,611
NET BOOK VALUE
At 30 November 2023 34,881 124 38,118
At 30 November 2022 17,613 402 21,224

Valley Plumbing & Heating Systems
Limited (Registered number: 07821792)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 December 2022 39,546
Additions 519
Revaluations 3,115
At 30 November 2023 43,180
NET BOOK VALUE
At 30 November 2023 43,180
At 30 November 2022 39,546

Cost or valuation at 30 November 2023 is represented by:

Other
investments
£   
Valuation in 2021 4,868
Valuation in 2022 (5,695 )
Valuation in 2023 3,115
Cost 40,892
43,180

6. STOCKS
30.11.23 30.11.22
£    £   
Stocks 13,155 3,732
Work-in-progress 2,859 6,828
16,014 10,560

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 71,319 83,234
Other debtors 3,324 1,101
74,643 84,335

Valley Plumbing & Heating Systems
Limited (Registered number: 07821792)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts (see note 10) 10,077 9,829
Hire purchase contracts 5,754 -
Trade creditors 49,250 35,071
Taxation and social security 33,312 24,796
Other creditors 1,810 2,060
100,203 71,756

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 10) 17,369 27,446
Hire purchase contracts 9,927 -
27,296 27,446

10. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,077 9,829

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,333 10,077

Amounts falling due between two and five years:
Bank loans - 2-5 years 7,036 17,369

11. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax 7,006 3,796

Deferred
tax
£   
Balance at 1 December 2022 3,796
Charge to Income Statement during year 3,210
Balance at 30 November 2023 7,006

Valley Plumbing & Heating Systems
Limited (Registered number: 07821792)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100

13. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £195 - (2022 - £680) due to the Directors. The amounts are interest free and repayable on demand.

14. ULTIMATE CONTROLLING PARTY

The controlling party, Mr P Lewin a director of the company who owns 90% of the issued share capital.