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Company Registration number: 04310440

CALDEW PLUMBING & HEATING
CONTRACTORS LIMITED

Annual Report and Unaudited
Financial Statements


for the Year Ended 30 November 2023

 

Caldew Plumbing & Heating Contractors Limited

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 8

 

Caldew Plumbing & Heating Contractors Limited

Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4,059

5,616

Investment property

5

83,118

83,118

 

87,177

88,734

Current assets

 

Stocks

3,690

7,180

Debtors

6

350,844

470,795

Cash at bank and in hand

 

302

129

 

354,836

478,104

Creditors: Amounts falling due within one year

7

(209,867)

(349,603)

Net current assets

 

144,969

128,501

Total assets less current liabilities

 

232,146

217,235

Creditors: Amounts falling due after more than one year

7

(10,188)

(11,680)

Provisions for liabilities

(771)

(1,415)

Net assets

 

221,187

204,140

Capital and reserves

 

Called up share capital

105

105

Other reserves

10

10

Retained earnings

221,072

204,025

Shareholders' funds

 

221,187

204,140

 

Caldew Plumbing & Heating Contractors Limited

Balance Sheet as at 30 November 2023 (continued)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 04310440

Approved and authorised by the director on 20 August 2024
 

.........................................
Mr M Wilson
Director

 

Caldew Plumbing & Heating Contractors Limited

Notes to the financial statements for the Year Ended 30 November 2023

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:
Michael Thompson Buildings
St Ninians Road
Carlisle
CA2 4NE

These financial statements were authorised for issue by the director on 20 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.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

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

 

Caldew Plumbing & Heating Contractors Limited

Notes to the financial statements for the Year Ended 30 November 2023 (continued)

2

ACCOUNTING POLICIES (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

Revenue recognition

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

Taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
 

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.


Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

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

Hand tools

20% Reducing balance

 

Caldew Plumbing & Heating Contractors Limited

Notes to the financial statements for the Year Ended 30 November 2023 (continued)

2

ACCOUNTING POLICIES (continued)

Motor vehicles

25% Reducing balance

Office equipment

25% Straight line

Plant and machinery

20% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

STAFF NUMBERS

The average number of persons employed by the company (including the director) during the year, was 10 (2022 - 14).

 

Caldew Plumbing & Heating Contractors Limited

Notes to the financial statements for the Year Ended 30 November 2023 (continued)

4

TANGIBLE ASSETS

Hand tools
 £

Motor vehicles
 £

Office equipment
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 December 2022

9,058

29,087

12,184

8,909

59,238

At 30 November 2023

9,058

29,087

12,184

8,909

59,238

Depreciation

At 1 December 2022

6,756

28,286

11,692

6,888

53,622

Charge for the year

461

200

492

404

1,557

At 30 November 2023

7,217

28,486

12,184

7,292

55,179

Carrying amount

At 30 November 2023

1,841

601

-

1,617

4,059

At 30 November 2022

2,302

801

492

2,021

5,616

5

INVESTMENT PROPERTIES

2023
£

At 1 December

83,118

At 30 November

83,118

On the 30 November 2023, the carrying amount of the property was £83,118 (2022 - £83,118). The directors consider this to be the fair value of the property.

 

Caldew Plumbing & Heating Contractors Limited

Notes to the financial statements for the Year Ended 30 November 2023 (continued)

6

DEBTORS

Current

2023
£

2022
£

Trade debtors

145,712

226,565

Prepayments

11,276

15,381

Other debtors

193,856

228,849

 

350,844

470,795

7

CREDITORS

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

56,389

28,274

Trade creditors

141,395

282,395

Taxation and social security

7,564

33,689

Accruals and deferred income

4,276

4,000

Other creditors

243

1,245

209,867

349,603


Creditors include bank loans and overdrafts which are secured of £56,389 (2022 - £28,274).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10,188

11,680


Creditors include bank loans which are secured of £10,188 (2022 - £11,680).

 

Caldew Plumbing & Heating Contractors Limited

Notes to the financial statements for the Year Ended 30 November 2023 (continued)

8

RELATED PARTY TRANSACTIONS

Transactions with the director

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr M Wilson

Director's loan account

77,005

92,578

(77,005)

92,578

Mr S D Gilchrist

Director's loan account

75,451

-

(75,451)

-

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Mr M Wilson

Director's loan account

62,789

77,005

(62,789)

77,005

Mr S D Gilchrist

Director's loan account

72,278

75,451

(72,278)

75,451