John Hannant Plumbing & Engineering Services Ltd
Registered number: 05409300
Statement of Financial Position
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 9,767 12,210
Current assets
Stocks 5,000 25,000
Debtors 5 424,085 432,501
Cash at bank and in hand 207,717 314,538
636,802 772,039
Creditors: amounts falling due within one year 6 (6,932) (20,018)
Net current assets 629,870 752,021
Total assets less current liabilities 639,637 764,231
Provisions for liabilities (1,856) (2,320)
Net assets 637,781 761,911
Capital and reserves
Called up share capital 100 100
Profit and loss account 637,681 761,811
Shareholders' funds 637,781 761,911
The directors are 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 directors acknowledge their 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 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.
J Hannant
Director
Approved by the board on 11 September 2024
John Hannant Plumbing & Engineering Services Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the 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 rendering of services. 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 machinery 25% reducing balance
Inventories
Inventories 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, 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. 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
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Exceptional items 2024 2023
£ £
Stock write off due to theft 20,000 -
20,000 -
3 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 2 2
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 35,595
Additions 813
At 31 March 2024 36,408
Depreciation
At 1 April 2023 23,385
Charge for the year 3,256
At 31 March 2024 26,641
Net book value
At 31 March 2024 9,767
At 31 March 2023 12,210
5 Debtors 2024 2023
£ £
Trade debtors 426 6,372
Prepayments 953 958
Other debtors 422,706 425,171
424,085 432,501
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,730 9,602
Accruals 1,638 1,571
Other taxes and social security costs 139 2,655
Other creditors 3,425 6,190
6,932 20,018
7 Other information
John Hannant Plumbing & Engineering Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9 Russell Way
Petersfield
Hampshire
GU31 4LD
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