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COMPANY REGISTRATION NUMBER: 07484960
STEVEN GREEN PLUMBING AND HEATING SERVICES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
STEVEN GREEN PLUMBING AND HEATING SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
6
1,219
1,896
Current assets
Stocks
1,400
1,650
Debtors
7
14,822
31,500
Cash at bank and in hand
14,801
13,562
---------
---------
31,023
46,712
Creditors: amounts falling due within one year
8
( 12,204)
( 14,314)
---------
---------
Net current assets
18,819
32,398
---------
---------
Total assets less current liabilities
20,038
34,294
Creditors: amounts falling due after more than one year
9
( 19,585)
( 21,667)
---------
---------
Net assets
453
12,627
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
353
12,527
----
---------
Shareholders funds
453
12,627
----
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
STEVEN GREEN PLUMBING AND HEATING SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 17 September 2024 , and are signed on behalf of the board by:
Mr S Green
Director
Company registration number: 07484960
STEVEN GREEN PLUMBING AND HEATING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 66 Haven Way, Newhaven, Seaford, BN9 9TD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% Straight Line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% Straight Line
Fixtures and fittings
-
25% Straight Line
Motor vehicles
-
25% Straight Line
Equipment
-
25% Straight Line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured 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 the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
10,000
---------
Amortisation
At 1 January 2023 and 31 December 2023
10,000
---------
Carrying amount
At 31 December 2023
---------
At 31 December 2022
---------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 January 2023 and 31 December 2023
1,500
1,358
3,250
697
6,805
-------
-------
-------
----
-------
Depreciation
At 1 January 2023
1,500
1,358
1,354
697
4,909
Charge for the year
677
677
-------
-------
-------
----
-------
At 31 December 2023
1,500
1,358
2,031
697
5,586
-------
-------
-------
----
-------
Carrying amount
At 31 December 2023
1,219
1,219
-------
-------
-------
----
-------
At 31 December 2022
1,896
1,896
-------
-------
-------
----
-------
7. Debtors
2023
2022
£
£
Trade debtors
1,000
Other debtors
14,822
30,500
---------
---------
14,822
31,500
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
3,611
3,611
Trade creditors
2,607
674
Corporation tax
4,435
8,529
Other creditors
1,551
1,500
---------
---------
12,204
14,314
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
19,585
21,667
---------
---------
10. Director's advances, credits and guarantees
No transactions with directors were undertaken such as are required to be disclosed under FRS102 section 1A.