REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 28 November 2023 |
for |
Bs Plumbing & Heating Ltd. |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 28 November 2023 |
for |
Bs Plumbing & Heating Ltd. |
Bs Plumbing & Heating Ltd. (Registered number: SC179280) |
Contents of the Financial Statements |
For The Year Ended 28 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 8 |
Bs Plumbing & Heating Ltd. |
Company Information |
For The Year Ended 28 November 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 Cambuslang Court |
Cambuslang |
Glasgow |
Strathclyde |
G32 8FH |
Bs Plumbing & Heating Ltd. (Registered number: SC179280) |
Balance Sheet |
28 November 2023 |
28.11.23 | 28.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The director acknowledges her 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. |
Bs Plumbing & Heating Ltd. (Registered number: SC179280) |
Balance Sheet - continued |
28 November 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Bs Plumbing & Heating Ltd. (Registered number: SC179280) |
Notes to the Financial Statements |
For The Year Ended 28 November 2023 |
1. | STATUTORY INFORMATION |
Bs Plumbing & Heating Ltd. is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Cash and Bank Balances |
Cash and bank balances are measured at the transaction price. |
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. |
Bs Plumbing & Heating Ltd. (Registered number: SC179280) |
Notes to the Financial Statements - continued |
For The Year Ended 28 November 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Going concern |
As at year end, the company's liabilities exceeded assets. The company relies on the continued support of its director to finance its working capital requirements. The director consider it appropriate to prepare the financial statements on a going concern basis as they have agreed that this support will continue for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 29 November 2022 |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 28 November 2023 |
DEPRECIATION |
At 29 November 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 28 November 2023 |
NET BOOK VALUE |
At 28 November 2023 |
At 28 November 2022 |
Bs Plumbing & Heating Ltd. (Registered number: SC179280) |
Notes to the Financial Statements - continued |
For The Year Ended 28 November 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
Motor |
vehicles |
£ |
COST |
At 29 November 2022 |
Transfer to ownership | (19,032 | ) |
At 28 November 2023 |
DEPRECIATION |
At 29 November 2022 |
Transfer to ownership | (14,516 | ) |
At 28 November 2023 |
NET BOOK VALUE |
At 28 November 2023 |
At 28 November 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.11.23 | 28.11.22 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.11.23 | 28.11.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
28.11.23 | 28.11.22 |
£ | £ |
Bank loans |
Bs Plumbing & Heating Ltd. (Registered number: SC179280) |
Notes to the Financial Statements - continued |
For The Year Ended 28 November 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
28.11.23 | 28.11.22 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 56,667 | 96,667 |
8. | CONTINGENT LIABILITIES |
BS Plumbing & Heating Ltd participates in Plumbing & Mechanical Services (UK) Industry Pension Scheme. The scheme is a multi-employer pension plan. There was a pension deficit in the plan. The deficit was not due to crystallise unless there were no employees left in the scheme. The company has now ceased to have any active members within the scheme therefore triggering section 75 of Pensions Act 1995 employer debt. The latest known estimate was dated 30th November 2018 valued at £657,800. However, the liability amount remains unconfirmed therefore the deficit has not been accrued into the accounts. |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Bs Plumbing & Heating Ltd. |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bs Plumbing & Heating Ltd. for the year ended 28 November 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
This report is made solely to the director of Bs Plumbing & Heating Ltd. in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bs Plumbing & Heating Ltd. and state those matters that we have agreed to state to the director of Bs Plumbing & Heating Ltd. in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
It is your duty to ensure that Bs Plumbing & Heating Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Bs Plumbing & Heating Ltd.. You consider that Bs Plumbing & Heating 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 financial statements of Bs Plumbing & Heating 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 financial statements. |
1 Cambuslang Court |
Cambuslang |
Glasgow |
Strathclyde |
G32 8FH |