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Registered number: 04791587
Mainstream Plumbing & Heating Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Company Information 1
Accountant's Report 2
Abridged Balance Sheet 3—4
Notes to the Abridged Financial Statements 5—7
Page 1
Company Information
Directors Mr Gary Bridge
Mr Martin Dillon
Company Number 04791587
Registered Office Bulls Place, Newark Road
Swinderby
Lincoln
Lincolnshire
LN6 9HN
Accountants Chris Rooke Management Limited
F.M.A.A.T.
Greetwell Place
2 Lime Kiln Way
Lincoln
Lincolnshire
LN2 4US
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Accountant's Report
Report of the Accountant to the directors of Mainstream Plumbing & Heating Limited
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 30 June 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give “a true and fair view”.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Signed
Mr CF Rooke
18th September 2024
Chris Rooke Management Limited
F.M.A.A.T.
Greetwell Place
2 Lime Kiln Way
Lincoln
Lincolnshire
LN2 4US
Page 2
Page 3
Abridged Balance Sheet
Registered number: 04791587
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 677,802 584,117
Investment Properties 5 150,000 150,000
827,802 734,117
CURRENT ASSETS
Debtors 814,467 870,729
Cash at bank and in hand 971,687 928,766
1,786,154 1,799,495
Creditors: Amounts Falling Due Within One Year (804,997 ) (925,667 )
NET CURRENT ASSETS (LIABILITIES) 981,157 873,828
TOTAL ASSETS LESS CURRENT LIABILITIES 1,808,959 1,607,945
Creditors: Amounts Falling Due After More Than One Year (35,658 ) (81,022 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (46,352 ) (41,153 )
NET ASSETS 1,726,949 1,485,770
CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 8 355,494 247,584
Profit and Loss Account 1,371,355 1,238,086
SHAREHOLDERS' FUNDS 1,726,949 1,485,770
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 June 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Martin Dillon
Director
18th September 2024
The notes on pages 5 to 7 form part of these financial statements.
Page 4
Page 5
Notes to the Abridged Financial Statements
1. General Information
Mainstream Plumbing & Heating Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04791587 . The registered office is Bulls Place, Newark Road, Swinderby, Lincoln, Lincolnshire, LN6 9HN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% Reducing balance basis
Plant & Machinery 15% Reducing balance basis
Motor Vehicles 25% Reducing balance basis
Computer Equipment 20% Reducing balance basis
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 19)
19 19
4. Tangible Assets
Total
£
Cost or Valuation
As at 1 July 2023 802,179
Additions 62,299
Disposals (21,168 )
Revaluation 107,910
As at 30 June 2024 951,220
...CONTINUED
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Depreciation
As at 1 July 2023 218,062
Provided during the period 65,362
Disposals (10,006 )
As at 30 June 2024 273,418
Net Book Value
As at 30 June 2024 677,802
As at 1 July 2023 584,117
5. Investment Property
2024
£
Fair Value
As at 1 July 2023 and 30 June 2024 150,000
6. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 24,617 32,374
Later than one year and not later than five years 35,658 60,275
60,275 92,649
60,275 92,649
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Reserves
Revaluation Reserve
£
As at 1 July 2023 247,584
Surplus on revaluation 107,910
As at 30 June 2024 355,494
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