Lady Bay Plumbing & Heating Limited
Registered number: 05145748
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,574 3,982
Current assets
Stocks 1,000 1,000
Debtors 4 2,087 657
Cash at bank and in hand 72,366 68,362
75,453 70,019
Creditors: amounts falling due within one year 5 (30,838) (34,048)
Net current assets 44,615 35,971
Net assets 49,189 39,953
Capital and reserves
Called up share capital 100 100
Profit and loss account 49,089 39,853
Shareholders' funds 49,189 39,953
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 and delivered 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.
S L Harris
Director
Approved by the board on 27 August 2024
Lady Bay Plumbing & Heating Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the amounts, net of discounts and value added tax, derived from the provision of goods and services to customers during the year.
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 15% per annum reducing balance
Motor vehicles 25% per annum reducing balance
Stocks
Stocks 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 8,584 15,500 24,084
Additions 1,694 - 1,694
At 30 June 2024 10,278 15,500 25,778
Depreciation
At 1 July 2023 6,970 13,132 20,102
Charge for the year 510 592 1,102
At 30 June 2024 7,480 13,724 21,204
Net book value
At 30 June 2024 2,798 1,776 4,574
At 30 June 2023 1,614 2,368 3,982
4 Debtors 2024 2023
£ £
Trade debtors 1,536 225
Other debtors 551 432
2,087 657
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 7,785 12,775
Corporation tax 16,044 11,184
Other taxes and social security costs 5,049 2,635
Other creditors 1,960 7,454
30,838 34,048
6 Controlling party
The company is controllled by its majority shareholder, Mr T M Harris.
7 Other information
Lady Bay Plumbing & Heating Limited is a private company limited by shares and incorporated in England. Its registered office is:
234 Rutland Road
West Bridgford
Nottingham NG2 5EB
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