Registered number
12444645
Pancamo Plumbing & Heating Ltd
Report and Accounts
28 February 2024
Pancamo Plumbing & Heating Ltd
Report and accounts
Contents
Page
Company information1
Director's report2
Accountants' report3
Profit and loss account4
Balance sheet5
Statement of changes in equity6
Notes to the accounts7 to 10
Pancamo Plumbing & Heating Ltd
Company Information
Director
A PANCAMO
Accountants
GERALD CHARLES & CO
239 BULLSMOOR LANE
ENFIELD
MIDDX
EN1 4SB
Registered office
239 Bullsmoor Lane
Enfield
MIDDX
EN1 4SB
Registered number
12444645
Pancamo Plumbing & Heating Ltd
Registered number: 12444645
Director's Report
The director presents his report and accounts for the year ended 28 February 2024.
Principal activities
The company's principal activity during the year continue to be that of Plumbing and Heating engineers.
Directors
The following persons served as directors during the year:
A PANCAMO
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 7 August 2024 and signed on its behalf.
A PANCAMO
Director
Pancamo Plumbing & Heating Ltd
Accountants' Report
Accountants' report to the director of
Pancamo Plumbing & Heating Ltd
You consider that the company is exempt from an audit for the year ended 28 February 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
GERALD CHARLES & CO
Accountants
239 BULLSMOOR LANE
ENFIELD
MIDDX
EN1 4SB
7 August 2024
Pancamo Plumbing & Heating Ltd
Profit and Loss Account
for the year ended 28 February 2024
Notes2024 2023
£ £
Turnover171,116176,611
Cost of sales(108,287)(97,248)
Gross profit62,82979,363
Administrative expenses(42,025)(45,987)
Operating profit20,80433,376
Profit on ordinary activities before taxation20,80433,376
Tax on profit on ordinary activities(4,541)(6,645)
Profit for the financial year£16,263£26,731
Pancamo Plumbing & Heating Ltd
Registered number:12444645
Balance Sheet
as at 28 February 2024
Notes2024 2023
£ £
Fixed assets
Tangible assets38,79311,724
Current assets
Debtors45,0436,440
Cash at bank and in hand68,87571,116
73,91877,556
Creditors: amounts falling due within one year5(37,293)(59,125)
Net current assets36,62518,431
Net assets£45,418£30,155
Capital and reserves
Called up share capital100100
Profit and loss account45,31830,055
Shareholder's funds£45,418£30,155
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 member has 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.
A PANCAMO
Director
Approved by the board on 7 August 2024
Pancamo Plumbing & Heating Ltd
Statement of Changes in Equity
for the year ended 28 February 2024
ShareShareRe-ProfitTotal
capitalpremiumvaluationand loss
reserveaccount
£ £ £ £ £
At 1 March 2022100- - 5,3245,424
Profit for the financial year26,731 26,731
Dividends(2,000)(2,000)
At 28 February 2023£100 £0 £0 £30,055 £30,155
At 1 March 2023100- - 30,05530,155
Profit for the financial year16,26316,263
Dividends(1,000)(1,000)
At 28 February 2024£100£0 £0 £45,318£45,418
Pancamo Plumbing & Heating Ltd
Notes to the Accounts
for the year ended 28 February 2024
1Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 as applied to small entities by section 1A of the standard. The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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:
Motor VehiclesReducing balance 25%
Fixtures, fittings, tools and equipmentReducing balance 25%
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2Employees2024 2023
NumberNumber
Average number of persons employed by the company11
3Tangible fixed assets
Plant and machinery etcMotor vehiclesTotal
£ £ £
Cost
At 1 March 20236,00022,00028,000
At 28 February 2024£6,000£22,000£28,000
Depreciation
At 1 March 20233,46812,80816,276
Charge for the year6332,2982,931
At 28 February 2024£4,101£15,106£19,207
Net book value
At 28 February 2024£1,899£6,894£8,793
At 28 February 2023£2,532£9,192£11,724
4Debtors2024 2023
£ £
Trade debtors5,0434,119
Other debtors- 2,321
£5,043£6,440
5Creditors: amounts falling due within one year2024 2023
£ £
Trade creditors3,6715,024
Corporation tax4,5416,645
Other taxes and social security costs4,23033
Other creditors24,85147,423
£37,293£59,125
6Other information
Pancamo Plumbing & Heating Ltd is a private company limited by shares and incorporated in England. Its registered office is:
239 Bullsmoor Lane
Enfield
MIDDX
EN1 4SB
Pancamo Plumbing & Heating Ltd
Detailed profit and loss account
for the year ended 28 February 2024
2024 2023
£ £
Sales171,116176,611
Cost of sales(108,287)(97,248)
Gross profit62,82979,363
Administrative expenses(42,025)(45,987)
Operating profit20,80433,376
Profit before tax£20,804£33,376
Pancamo Plumbing & Heating Ltd
Detailed profit and loss account
for the year ended 28 February 2024
2024 2023
£ £
Sales
Sales£
171,116
£
176,611
Cost of sales
Purchases
59,805
51,841
Subcontractor costs
48,482
45,407
£108,287 £97,248
Administrative expenses
Employee costs:
Directors' salaries
12,341
13,090
Employer's NI
51
583
Protective clothing487 496
Staff training and welfare
650
840
Motor expenses
9,081
9,939
22,610 24,948
Premises costs:
Rent
4,160
4,160
Cleaning
901
650
5,061 4,810
General administrative expenses:
Telephone and fax
387
361
Stationery and printing
363
370
Subscriptions
73
232
Bank charges
105
104
Insurance
1,318
1,316
Consumables
1,200
2,583
Repairs and maintenance
1,163
1,961
Depreciation
2,931
4,026
Sundry expenses
398
108
7,938 11,061
Legal and professional costs:
Accountancy fees
4,548
3,969
Advertising and PR
1,868
1,199
6,416 5,168
£42,025 £45,987
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