Registered number
10187769
Steve Jenkin Plumbing Ltd
Filleted Accounts
31 May 2024
Steve Jenkin Plumbing Ltd
Registered number: 10187769
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,019 1,961
Current assets
Stocks 1,000 800
Debtors 4 199 6,799
Cash at bank and in hand 26,430 14,037
27,629 21,636
Creditors: amounts falling due within one year 5 (4,985) (9,163)
Net current assets 22,644 12,473
Total assets less current liabilities 24,663 14,434
Provisions for liabilities (384) (373)
Net assets 24,279 14,060
Capital and reserves
Called up share capital 2 2
Profit and loss account 24,277 14,058
Shareholder's funds 24,279 14,060
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Steven Robert Jenkin
Director
Approved by the board on 10 July 2024
Steve Jenkin Plumbing Ltd
Notes to the Accounts
for the year ended 31 May 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 25% 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 4,260
Additions 731
At 31 May 2024 4,991
Depreciation
At 1 June 2023 2,299
Charge for the year 673
At 31 May 2024 2,972
Net book value
At 31 May 2024 2,019
At 31 May 2023 1,961
4 Debtors 2024 2023
£ £
Other debtors 199 6,799
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 504 (5)
Taxation and social security costs 1,747 8,390
Other creditors 2,734 778
4,985 9,163
6 Related party transactions
At the period end the company owed £1,876 (2023: was owed £580) to Mr Steven Robert Jenkin, director. The loan is interest free and repayable after less than one year.
7 Controlling party
The company is ultimately controlled by Mr Steven Robert Jenkin, director, who owns 100% of the issued share capital.
8 Other information
Steve Jenkin Plumbing Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Tre-Ru House
The Leats
Truro
Cornwall
TR1 3AG
Steve Jenkin Plumbing Ltd 10187769 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts April 2024 Steven Robert Jenkin No description of principal activity 10187769 2022-06-01 2023-05-31 10187769 core:WithinOneYear 2023-05-31 10187769 core:ShareCapital 2023-05-31 10187769 core:RetainedEarningsAccumulatedLosses 2023-05-31 10187769 2023-06-01 2024-05-31 10187769 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10187769 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 10187769 bus:Director40 2023-06-01 2024-05-31 10187769 1 2023-06-01 2024-05-31 10187769 2 2023-06-01 2024-05-31 10187769 core:PlantMachinery 2023-06-01 2024-05-31 10187769 countries:England 2023-06-01 2024-05-31 10187769 bus:FRS102 2023-06-01 2024-05-31 10187769 bus:FilletedAccounts 2023-06-01 2024-05-31 10187769 2024-05-31 10187769 core:WithinOneYear 2024-05-31 10187769 core:ShareCapital 2024-05-31 10187769 core:RetainedEarningsAccumulatedLosses 2024-05-31 10187769 core:PlantMachinery 2024-05-31 10187769 2023-05-31 10187769 core:PlantMachinery 2023-05-31 iso4217:GBP xbrli:pure