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Registration number: 05856808

PRW Plumbing & Heating Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

PRW Plumbing & Heating Ltd

Contents

Company Information

1

Director's Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

PRW Plumbing & Heating Ltd

Company Information

Director

P R Willmott

Company secretary

L M Willmott

Registered office

Bristol Cottage
Jubilee Lane
Cromhall
Wotton-under-edge
Gloucestershire
GL12 8AU

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Spencer House
Morston Court
Aisecome Way
Weston-super-Mare
North Somerset
BS22 8NG

 

PRW Plumbing & Heating Ltd

Director's Report
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:

P R Willmott

Principal activity

The principal activity of the company is plumbing 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 Board on 28 August 2024 and signed on its behalf by:

.........................................
L M Willmott
Company secretary

 

PRW Plumbing & Heating Ltd

(Registration number: 05856808)
Balance Sheet
31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

27,635

29,339

Current assets

 

Stocks

38,505

14,970

Debtors

5

54,873

70,941

Cash at bank and in hand

 

104,363

108,725

 

197,741

194,636

Creditors: Amounts falling due within one year

6

(156,400)

(171,348)

Net current assets

 

41,341

23,288

Total assets less current liabilities

 

68,976

52,627

Provisions for liabilities

(1,209)

-

Net assets

 

67,767

52,627

Capital and reserves

 

Called up share capital

2

2

Retained earnings

67,765

52,625

Shareholders' funds

 

67,767

52,627

 

PRW Plumbing & Heating Ltd

(Registration number: 05856808)
Balance Sheet
31 March 2024

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.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 August 2024
 

.........................................
P R Willmott
Director

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.

 

PRW Plumbing & Heating Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Bristol Cottage
Jubilee Lane
Cromhall
Wotton-under-edge
Gloucestershire
GL12 8AU
England

These financial statements were authorised for issue by the director on 28 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.

Going concern

The financial statements have been prepared on a going concern basis.

 

PRW Plumbing & Heating Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

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

Property improvements

5% Straight Line

Motor Vehicles

25% Straight Line

Plant & Machinery

20% Reducing Balance

Office Equipment

3 Years Straight Line

Fixtures and fittings

25% Reducing Balance

Trade debtors

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

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 is valued at selling price for work completed but unbilled at the end of financial year.

 

PRW Plumbing & Heating Ltd

Notes to the Unaudited Financial Statements
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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 5).

 

PRW Plumbing & Heating Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

4

Tangible assets

Property improvements
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 April 2023

26,823

1,510

11,057

10,934

Additions

-

-

-

1,687

Disposals

-

-

-

(2,081)

At 31 March 2024

26,823

1,510

11,057

10,540

Depreciation

At 1 April 2023

2,682

661

9,426

8,216

Charge for the year

1,341

212

326

1,511

Eliminated on disposal

-

-

-

(2,080)

At 31 March 2024

4,023

873

9,752

7,647

Carrying amount

At 31 March 2024

22,800

637

1,305

2,893

At 31 March 2023

24,141

849

1,631

2,718

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

36,590

86,914

Additions

-

1,687

Disposals

-

(2,081)

At 31 March 2024

36,590

86,520

Depreciation

At 1 April 2023

36,590

57,575

Charge for the year

-

3,390

Eliminated on disposal

-

(2,080)

At 31 March 2024

36,590

58,885

Carrying amount

At 31 March 2024

-

27,635

At 31 March 2023

-

29,339

 

PRW Plumbing & Heating Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

Included within the net book value of land and buildings above is £22,800 (2023 - £24,141) in respect of short leasehold land and buildings.
 

5

Debtors

2024
£

2023
£

Trade debtors

12,756

23,740

Prepayments

2,053

3,014

Other debtors

40,064

44,187

54,873

70,941

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

15,266

36,728

Taxation and social security

21,555

18,157

Accruals and deferred income

1,975

2,268

Other creditors

117,604

114,195

156,400

171,348