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REGISTERED NUMBER: 13472754 (England and Wales)















UPVC (ELECTRICAL & PLUMBING) LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






UPVC (ELECTRICAL & PLUMBING) LIMITED (REGISTERED NUMBER: 13472754)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


UPVC (ELECTRICAL & PLUMBING) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr M R Epps
Mr W Harvey
Mr J P Thomas
Ms N Owens
Mr R K Hawkins



REGISTERED OFFICE: 321 Penarth Road
Cardiff
CF11 8TT



REGISTERED NUMBER: 13472754 (England and Wales)



SENIOR STATUTORY AUDITOR: Steven Davies



AUDITORS: Carston Chartered Accountants
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

UPVC (ELECTRICAL & PLUMBING) LIMITED (REGISTERED NUMBER: 13472754)

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 361,005 287,025
Tangible assets 5 202,962 199,468
Investments 6 5,220,457 -
5,784,424 486,493

CURRENT ASSETS
Stocks 309,704 294,944
Debtors 7 290,113 99,822
Cash at bank and in hand 571,848 369,054
1,171,665 763,820
CREDITORS
Amounts falling due within one year 8 2,691,730 820,354
NET CURRENT LIABILITIES (1,520,065 ) (56,534 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,264,359 429,959

CREDITORS
Amounts falling due after more than one year 9 2,919,740 -
NET ASSETS 1,344,619 429,959

CAPITAL AND RESERVES
Called up share capital 867 610
Share premium 894,031 509,467
Capital redemption reserve 36 -
Retained earnings 449,685 (80,118 )
1,344,619 429,959

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th September 2024 and were signed on its behalf by:





Mr M R Epps - Director


UPVC (ELECTRICAL & PLUMBING) LIMITED (REGISTERED NUMBER: 13472754)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

UPVC (Electrical & Plumbing) 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% straight line on cost
Fixtures and fittings - 20% straight line on cost and 10% straight line on cost
Motor vehicles - 25% straight line on cost
IT Systems - 20% straight line on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 9 ) .

UPVC (ELECTRICAL & PLUMBING) LIMITED (REGISTERED NUMBER: 13472754)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


4. INTANGIBLE FIXED ASSETS
Goodwill Cryptocurrencies Totals
£    £    £   
COST
At 1st January 2023 287,025 - 287,025
Additions - 104,632 104,632
Impairments (2,166 ) - (2,166 )
At 31st December 2023 284,859 104,632 389,491
AMORTISATION
Amortisation for year 28,486 - 28,486
At 31st December 2023 28,486 - 28,486
NET BOOK VALUE
At 31st December 2023 256,373 104,632 361,005
At 31st December 2022 287,025 - 287,025

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor IT
machinery fittings vehicles Systems Totals
£    £    £    £    £   
COST
At 1st January 2023 46,146 77,740 75,004 18,444 217,334
Additions 62,630 19,970 36,000 - 118,600
Disposals - (28,045 ) (49,044 ) - (77,089 )
At 31st December 2023 108,776 69,665 61,960 18,444 258,845
DEPRECIATION
At 1st January 2023 - 5,385 10,098 2,383 17,866
Charge for year 16,607 15,615 21,035 1,921 55,178
Eliminated on disposal - (4,117 ) (13,044 ) - (17,161 )
At 31st December 2023 16,607 16,883 18,089 4,304 55,883
NET BOOK VALUE
At 31st December 2023 92,169 52,782 43,871 14,140 202,962
At 31st December 2022 46,146 72,355 64,906 16,061 199,468

UPVC (ELECTRICAL & PLUMBING) LIMITED (REGISTERED NUMBER: 13472754)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 5,220,457
At 31st December 2023 5,220,457
NET BOOK VALUE
At 31st December 2023 5,220,457

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 263,721 65,212
Other debtors 26,392 34,610
290,113 99,822

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 337,955 -
Trade creditors 136,838 249,956
Amounts owed to group undertakings 170,041 -
Taxation and social security 46,693 6,577
Other creditors 2,000,203 563,821
2,691,730 820,354

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,719,740 -
Other creditors 1,200,000 -
2,919,740 -

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 29,000 29,000
Between one and five years 49,853 78,853
78,853 107,853

UPVC (ELECTRICAL & PLUMBING) LIMITED (REGISTERED NUMBER: 13472754)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

We were not appointed as auditor of the company until after 31 December 2023 and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2023, which are included in the balance sheet at £309,704 by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount was necessary.

Steven Davies (Senior Statutory Auditor)
for and on behalf of Carston Chartered Accountants

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.