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Company registration number: 07595178
Tarbin Plumbing & Heating Limited
Unaudited abridged financial statements
31 March 2024
Tarbin Plumbing & Heating Limited
Contents
Directors and other information
Directors report
Abridged statement of income and retained earnings
Abridged statement of financial position
Notes to the financial statements
Tarbin Plumbing & Heating Limited
Directors and other information
Directors Mr Gary Tarbin
Mrs Joanne Tarbin
Mr Aaron Attmere (Resigned 25 April 2023)
Company number 07595178
Registered office 26 New Street
Braintree
Essex
CM7 1ES
Business address 26 New Street
Braintree
Essex
CM7 1ES
Accountants TandC Business Consultants Ltd
3 Sturmer Road
Haverhill
Suffolk
CB9 7UU
Tarbin Plumbing & Heating Limited
Directors report
Year ended 31 March 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2024.
Directors
The directors who served the company during the year were as follows:
Mr Gary Tarbin
Mrs Joanne Tarbin
Mr Aaron Attmere (Resigned 25 April 2023)
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 01 August 2024 and signed on behalf of the board by:
Mrs Joanne Tarbin Mr Gary Tarbin
Director Director
Tarbin Plumbing & Heating Limited
Abridged statement of income and retained earnings
Year ended 31 March 2024
2024 2023
Note £ £
Gross profit/(loss) 93,077 ( 137,151)
Administrative expenses ( 132,923) ( 160,770)
_______ _______
Operating loss ( 39,846) ( 297,921)
_______ _______
Loss before taxation 5 ( 39,846) ( 297,921)
Tax on loss - -
_______ _______
Loss for the financial year and total comprehensive income ( 39,846) ( 297,921)
_______ _______
Retained earnings at the start of the year 264,130 562,051
_______ _______
Retained earnings at the end of the year 224,284 264,130
_______ _______
All the activities of the company are from continuing operations.
Tarbin Plumbing & Heating Limited
Abridged statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 6 9,543 3,900
Tangible assets 7 13,744 21,328
_______ _______
23,287 25,228
Current assets
Stocks 185,319 232,025
Debtors 292,982 421,750
Cash at bank and in hand 97,350 1,679
_______ _______
575,651 655,454
Creditors: amounts falling due
within one year ( 234,122) ( 289,994)
_______ _______
Net current assets 341,529 365,460
_______ _______
Total assets less current liabilities 364,816 390,688
Creditors: amounts falling due
after more than one year ( 140,457) ( 126,483)
_______ _______
Net assets 224,359 264,205
_______ _______
Capital and reserves
Called up share capital 75 75
Profit and loss account 224,284 264,130
_______ _______
Shareholders funds 224,359 264,205
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared 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'.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 01 August 2024 , and are signed on behalf of the board by:
Mrs Joanne Tarbin Mr Gary Tarbin
Director Director
Company registration number: 07595178
Tarbin Plumbing & Heating Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Tarbin Plumbing and Heating Limited, 26 New Street, Braintree, Essex, CM7 1ES.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
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:
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 are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Loss before taxation
Loss before taxation is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible assets 8,343 8,242
_______ _______
6. Intangible assets
£
Cost
At 1 April 2023 3,900
Additions 5,643
_______
At 31 March 2024 9,543
_______
Amortisation
At 1 April 2023 and 31 March 2024 -
_______
Carrying amount
At 31 March 2024 9,543
_______
At 31 March 2023 3,900
_______
7. Tangible assets
£
Cost
At 1 April 2023 39,542
Additions 759
_______
At 31 March 2024 40,301
_______
Depreciation
At 1 April 2023 18,214
Charge for the year 8,343
_______
At 31 March 2024 26,557
_______
Carrying amount
At 31 March 2024 13,744
_______
At 31 March 2023 21,328
_______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Gary Tarbin ( 63,242) ( 6,987) ( 70,229)
Mrs Joanne Tarbin ( 135,660) ( 4,726) ( 140,386)
_______ _______ _______
( 198,902) ( 11,713) ( 210,615)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Gary Tarbin - ( 63,242) ( 63,242)
Mrs Joanne Tarbin ( 5,709) ( 129,951) ( 135,660)
_______ _______ _______
( 5,709) ( 193,193) ( 198,902)
_______ _______ _______
9. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
2024 2023
£ £
Tarbin Plumbing & Heating - 2,541
Tarbin Plumbing & Heating - -
Mrs J Tarbin 11,400 11,400
_______ _______
During the year to 31st March 2024 the company paid £11400 in respect of rent of 26 New Street which is owned by Mrs J Tarbin
10. Controlling party
The company is controlled by Mr G Tarbin who holds 66.67% of the issued ordinary share capital of the company
Tarbin Plumbing & Heating Limited
The following pages do not form part of the statutory accounts.
Tarbin Plumbing & Heating Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Tarbin Plumbing & Heating Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tarbin Plumbing & Heating Limited for the year ended 31 March 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the IFA, we are subject to its ethical and other professional requirements which are detailed at www.ifa.org.uk.
This report is made solely to the board of directors of Tarbin Plumbing & Heating Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Tarbin Plumbing & Heating Limited and state those matters that we have agreed to state to the board of directors of Tarbin Plumbing & Heating Limited as a body, in this report in accordance with the requirements of the IFA as detailed at To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tarbin Plumbing & Heating Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Tarbin Plumbing & Heating 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 loss of Tarbin Plumbing & Heating Limited. You consider that Tarbin Plumbing & Heating 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 Tarbin Plumbing & Heating 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.
TandC Business Consultants Ltd
3 Sturmer Road
Haverhill
Suffolk
CB9 7UU
1 August 2024