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REGISTERED NUMBER: SC314469 (Scotland)















Plumbing and Renewables Limited

Financial Statements For The Year Ended 31 January 2024






Plumbing and Renewables Limited (Registered number: SC314469)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Plumbing and Renewables Limited

Company Information
For The Year Ended 31 January 2024







DIRECTORS: M A Galbraith
Miss J F Paterson





SECRETARY: Miss J F Paterson





REGISTERED OFFICE: Bayview
15 Station Road
Burghead
Elgin
Moray
IV30 5UN





REGISTERED NUMBER: SC314469 (Scotland)





ACCOUNTANTS: The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB

Plumbing and Renewables Limited (Registered number: SC314469)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 137,668 99,099

CURRENT ASSETS
Stocks 2,568 2,432
Debtors 5 245,528 191,260
Cash at bank and in hand 123,477 146,907
371,573 340,599
CREDITORS
Amounts falling due within one year 6 205,670 196,819
NET CURRENT ASSETS 165,903 143,780
TOTAL ASSETS LESS CURRENT
LIABILITIES

303,571

242,879

CREDITORS
Amounts falling due after more than one
year

7

(44,792

)

(25,127

)

PROVISIONS FOR LIABILITIES 8 (31,168 ) (18,829 )
NET ASSETS 227,611 198,923

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 10 226,611 197,923
SHAREHOLDERS' FUNDS 227,611 198,923

Plumbing and Renewables Limited (Registered number: SC314469)

Balance Sheet - continued
31 January 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:




M A Galbraith - Director



Miss J F Paterson - Director


Plumbing and Renewables Limited (Registered number: SC314469)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

Plumbing and Renewables Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

Plumbing and Renewables Limited (Registered number: SC314469)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 February 2023 215,474
Additions 73,917
At 31 January 2024 289,391
DEPRECIATION
At 1 February 2023 116,375
Charge for year 35,348
At 31 January 2024 151,723
NET BOOK VALUE
At 31 January 2024 137,668
At 31 January 2023 99,099

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 214,422 170,204
Other debtors 31,106 21,056
245,528 191,260

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 9,874 9,633
Trade creditors 145,048 144,502
Taxation and social security 36,118 32,660
Other creditors 14,630 10,024
205,670 196,819

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 15,012 25,127
Other creditors 29,780 -
44,792 25,127

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 3,298 -

Plumbing and Renewables Limited (Registered number: SC314469)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

8. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 31,168 18,829

Deferred
tax
£   
Balance at 1 February 2023 18,829
Charge to Income Statement during year 12,339
Balance at 31 January 2024 31,168

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. RESERVES
Retained
earnings
£   

At 1 February 2023 197,923
Profit for the year 103,488
Dividends (74,800 )
At 31 January 2024 226,611

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £74,800 (2023 - £93,000) were paid to the directors .

M A Galbraith and J F Paterson are directors in the company.


A loan has been given by the company to the directors. No interest is charged and no repayment terms have been agreed.

31.1.24 31.1.23
£    £   
Amount due from/(to) related party at the balance sheet date 13,319 (3,516 )

12. ULTIMATE CONTROLLING PARTY

The controlling party is M A Galbraith and J F Paterson.

The ultimate controlling party is M A Galbraith and J F Paterson.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Plumbing and Renewables Limited

The following reproduces the text of the report prepared for the directors 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 Directors 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 Plumbing and Renewables Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Plumbing and Renewables Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Plumbing and Renewables Limited and state those matters that we have agreed to state to the Board of Directors of Plumbing and Renewables Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Plumbing and Renewables Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Plumbing and Renewables Limited 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 profit of Plumbing and Renewables Limited. You consider that Plumbing and Renewables Limited 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 Plumbing and Renewables Limited. 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.






The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB


1 August 2024