Registered number
04338557
G W Plumer & Sons Ltd
Filleted Accounts
31 December 2023
G W Plumer & Sons Ltd
Registered number: 04338557
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 23,016 12,210
Current assets
Stocks 3,000 3,000
Debtors 4 29,681 16,571
Cash at bank and in hand 107,794 129,633
140,475 149,204
Creditors: amounts falling due within one year 5 (38,545) (25,614)
Net current assets 101,930 123,590
Net assets 124,946 135,800
Capital and reserves
Called up share capital 2 2
Profit and loss account 124,944 135,798
Shareholders' funds 124,946 135,800
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G W Plumer
Director
Approved by the board on 29 August 2024
G W Plumer & Sons Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and equipment 15% reducing balance
Motor vehicles 25% reducing balance
Office equiptment 25% reducing balance
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 6
3 Tangible fixed assets
Plant, machinery and office equipment Motor vehicles Total
£ £ £
Cost
At 1 January 2023 21,313 53,138 74,451
Additions 16,216 - 16,216
At 31 December 2023 37,529 53,138 90,667
Depreciation
At 1 January 2023 17,676 44,565 62,241
Charge for the year 3,267 2,143 5,410
At 31 December 2023 20,943 46,708 67,651
Net book value
At 31 December 2023 16,586 6,430 23,016
At 31 December 2022 3,637 8,573 12,210
4 Debtors 2023 2022
£ £
Trade debtors 23,632 10,867
Other debtors 6,049 5,704
29,681 16,571
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 16,000 6,440
Accruals 1,000 1,000
Corporation tax - 1,239
Other taxes and social security costs 15,125 8,693
Other creditors 6,420 8,242
38,545 25,614
6 Other information
G W Plumer & Sons Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Mill
Kingsteignton Road
Newton Abbot
Devon
TQ12 2QA
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