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REGISTERED NUMBER: 04748038 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

M BUFTON PLUMBING & HEATING SERVICES
LIMITED

M BUFTON PLUMBING & HEATING SERVICES
LIMITED (REGISTERED NUMBER: 04748038)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

M BUFTON PLUMBING & HEATING SERVICES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: M A Bufton





SECRETARY: Mrs A J Bufton





REGISTERED OFFICE: Rosemount
The Bank
Newtown
Powys
SY16 2AB





REGISTERED NUMBER: 04748038 (England and Wales)





ACCOUNTANTS: D.R.E. & Co. Limited
Chartered Accountants
Number 5
The Business Quarter
Eco Park Road
Ludlow
Shropshire
SY8 1FD

M BUFTON PLUMBING & HEATING SERVICES
LIMITED (REGISTERED NUMBER: 04748038)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 74,567 57,239

CURRENT ASSETS
Stocks 74,187 102,500
Debtors 6 127,932 43,059
Cash at bank 142,574 141,765
344,693 287,324
CREDITORS
Amounts falling due within one year 7 184,771 151,428
NET CURRENT ASSETS 159,922 135,896
TOTAL ASSETS LESS CURRENT
LIABILITIES

234,489

193,135

CREDITORS
Amounts falling due after more than one
year

8

(8,949

)

(15,013

)

PROVISIONS FOR LIABILITIES (18,642 ) (14,310 )
NET ASSETS 206,898 163,812

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 206,896 163,810
SHAREHOLDERS' FUNDS 206,898 163,812

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

M BUFTON PLUMBING & HEATING SERVICES
LIMITED (REGISTERED NUMBER: 04748038)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 September 2024 and were signed by:





M A Bufton - Director


M BUFTON PLUMBING & HEATING SERVICES
LIMITED (REGISTERED NUMBER: 04748038)

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

1. STATUTORY INFORMATION

M Bufton Plumbing & Heating Services 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention. The accounts have been prepared on a going concern basis.

The financial statements are presented in Sterling (£) rounded to the nearest £1.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 15% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance and 25% straight line
Computer equipment - 25% on reducing balance

Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete
and slow moving items. Work in progress is valued at the stage of completion achieved, recognising profit and losses at each stage of completion.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments.
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.
Basic financial liabilities including trade and other creditors are initially recognised at transaction price and
subsequently carried at amortised cost.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


M BUFTON PLUMBING & HEATING SERVICES
LIMITED (REGISTERED NUMBER: 04748038)

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

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 15 ) .

M BUFTON PLUMBING & HEATING SERVICES
LIMITED (REGISTERED NUMBER: 04748038)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 25,294 43,152 123,899 15,576 207,921
Additions 11,034 - 29,100 981 41,115
Disposals (1,470 ) - (12,500 ) (1,109 ) (15,079 )
At 31 December 2023 34,858 43,152 140,499 15,448 233,957
DEPRECIATION
At 1 January 2023 17,943 35,997 84,084 12,658 150,682
Charge for year 4,586 1,073 16,191 969 22,819
Eliminated on disposal (1,429 ) - (11,596 ) (1,086 ) (14,111 )
At 31 December 2023 21,100 37,070 88,679 12,541 159,390
NET BOOK VALUE
At 31 December 2023 13,758 6,082 51,820 2,907 74,567
At 31 December 2022 7,351 7,155 39,815 2,918 57,239

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 31,110
Transfer to ownership (31,110 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 31,110
Transfer to ownership (31,110 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 114,798 32,197
Other debtors 1,455 1,455
Prepayments and accrued income 11,679 9,407
127,932 43,059

M BUFTON PLUMBING & HEATING SERVICES
LIMITED (REGISTERED NUMBER: 04748038)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 5,966 6,005
Hire purchase contracts - 2,745
Trade creditors 26,931 57,621
Taxes 78,931 40,153
Other creditors 985 -
Directors' loan accounts 64,254 37,480
Accrued expenses 7,704 7,424
184,771 151,428

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 2-5 years 8,949 15,013

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts - 2,745

Finance lease liabilities are secured against the assets to which they relate to.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M A Bufton.

He is the controlling party by virtue of his beneficial interest of the issued share capital.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
M BUFTON PLUMBING & HEATING SERVICES
LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M Bufton Plumbing & Heating Services Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of M Bufton Plumbing & Heating Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M Bufton Plumbing & Heating Services Limited and state those matters that we have agreed to state to the director of M Bufton Plumbing & Heating Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M Bufton Plumbing & Heating Services Limited and its director for our work or for this report.

It is your duty to ensure that M Bufton Plumbing & Heating Services 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 profit of M Bufton Plumbing & Heating Services Limited. You consider that M Bufton Plumbing & Heating Services 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 M Bufton Plumbing & Heating Services 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.






D.R.E. & Co. Limited
Chartered Accountants
Number 5
The Business Quarter
Eco Park Road
Ludlow
Shropshire
SY8 1FD


9 September 2024