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REGISTERED NUMBER: 03318949 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

H20 Plumbing Services Limited

H20 Plumbing Services Limited (Registered number: 03318949)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

H20 Plumbing Services Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr M J Toyne
Mrs Z S Toyne





REGISTERED OFFICE: 3A Gate Lane
Boldmere
Sutton Coldfield
West Midlands
B73 5TR





REGISTERED NUMBER: 03318949 (England and Wales)





ACCOUNTANTS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

H20 Plumbing Services Limited (Registered number: 03318949)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 108,611 127,192

CURRENT ASSETS
Stocks 3,250 5,923
Debtors 5 177,744 77,415
Cash at bank 143,321 228,306
324,315 311,644
CREDITORS
Amounts falling due within one year 6 (183,213 ) (178,702 )
NET CURRENT ASSETS 141,102 132,942
TOTAL ASSETS LESS CURRENT
LIABILITIES

249,713

260,134

CREDITORS
Amounts falling due after more than one
year

7

(13,322

)

(34,282

)

PROVISIONS FOR LIABILITIES 9 (26,301 ) (23,472 )
NET ASSETS 210,090 202,380

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 209,990 202,280
SHAREHOLDERS' FUNDS 210,090 202,380

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

H20 Plumbing Services Limited (Registered number: 03318949)

Balance Sheet - continued
29 February 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





Mr M J Toyne - Director


H20 Plumbing Services Limited (Registered number: 03318949)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

H20 Plumbing Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

H20 Plumbing Services Limited (Registered number: 03318949)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 13 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2023 10,507 180,150 190,657
Additions 1,888 13,000 14,888
At 29 February 2024 12,395 193,150 205,545
DEPRECIATION
At 1 March 2023 8,479 54,986 63,465
Charge for year 822 32,647 33,469
At 29 February 2024 9,301 87,633 96,934
NET BOOK VALUE
At 29 February 2024 3,094 105,517 108,611
At 28 February 2023 2,028 125,164 127,192

H20 Plumbing Services Limited (Registered number: 03318949)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023 86,650
Transfer to ownership (36,000 )
At 29 February 2024 50,650
DEPRECIATION
At 1 March 2023 20,992
Charge for year 10,392
Transfer to ownership (8,751 )
At 29 February 2024 22,633
NET BOOK VALUE
At 29 February 2024 28,017
At 28 February 2023 65,658

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 110,680 69,851
Other debtors 67,064 7,564
177,744 77,415

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loan and overdraft 10,000 10,000
Hire purchase contracts 5,921 13,019
Trade creditors 67,365 38,724
Taxation and social security 61,614 84,072
Other creditors 38,313 32,887
183,213 178,702

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loan 12,500 22,500
Hire purchase contracts 822 11,782
13,322 34,282

H20 Plumbing Services Limited (Registered number: 03318949)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. SECURED DEBTS

There is a fixed charge dated 15 January 2016 in favour of National Westminster Bank plc over an investment property owned by H20 Plumbing Services Limited parent company, Maxell FM Limited.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 26,301 23,472

Deferred
tax
£   
Balance at 1 March 2023 23,472
Charge to Profit and Loss Account during year 2,829
Balance at 29 February 2024 26,301

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
55 Ordinary "A" £1 55 55
25 Ordinary "B" £1 25 25
10 Ordinary "C" £1 10 10
10 Ordinary "D" £1 10 10
100 100

11. OTHER FINANCIAL COMMITMENTS

As at 29 February 2024, there were outstanding pension contributions of £477 (2023 - £ 623).

12. RELATED PARTY DISCLOSURES

Maxell FM Limited

Parent company


During the period, the company paid rent of £13,600 (2023 - £13,600) and dividends of £3,000 (2022 - £63,000) to Maxwell FM Limited.

Amount owed by Maxell FM Limited at 29 February 2024 totalled £65,393 (2023 - £6,311).

The amount owed by Maxell FM Limited which is included in other debtors, is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the directors of H20 Plumbing Services Limited have given their assurances that this amount will not be demanded for payment until such time as Maxell FM Limited can afford to do so without detriment to its operating and working capital requirements.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
H20 Plumbing Services 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 H20 Plumbing Services Limited for the year ended 29 February 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity 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 H20 Plumbing Services 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 H20 Plumbing Services Limited and state those matters that we have agreed to state to the Board of Directors of H20 Plumbing Services 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 H20 Plumbing Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that H20 Plumbing Services 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 H20 Plumbing Services Limited. You consider that H20 Plumbing Services 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 H20 Plumbing Services 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.






Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


29 July 2024