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Company No: 07968233 (England and Wales)

STEPHEN HARRIS GAS PLUMBING & HEATING LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

STEPHEN HARRIS GAS PLUMBING & HEATING LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

STEPHEN HARRIS GAS PLUMBING & HEATING LIMITED

BALANCE SHEET

As at 31 March 2024
STEPHEN HARRIS GAS PLUMBING & HEATING LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 240,534 226,655
240,534 226,655
Current assets
Stocks 5 86,349 84,805
Debtors 6 74,457 63,226
Cash at bank and in hand 37,878 103,100
198,684 251,131
Creditors: amounts falling due within one year 7 ( 172,542) ( 192,977)
Net current assets 26,142 58,154
Total assets less current liabilities 266,676 284,809
Creditors: amounts falling due after more than one year 8 ( 76,265) ( 78,014)
Provision for liabilities ( 58,756) ( 58,756)
Net assets 131,655 148,039
Capital and reserves
Called-up share capital 100 100
Profit and loss account 131,555 147,939
Total shareholders' funds 131,655 148,039

For the financial 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.

Director's responsibilities:

The financial statements of STEPHEN HARRIS GAS PLUMBING & HEATING LIMITED (registered number: 07968233) were approved and authorised for issue by the Director on 02 October 2024. They were signed on its behalf by:

S D Harris
Director
STEPHEN HARRIS GAS PLUMBING & HEATING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
STEPHEN HARRIS GAS PLUMBING & HEATING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Stephen Harris Gas Plumbing and Heating Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House. 2-8 Parkstone Road, BH15 2PW, Dorset, United Kingdom.

The principal place of business is: 48 Old Milton Road, New Milton, Hampshire, BH25 6DX.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services relating to gas, plumbing and heating engineering. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when the gas, plumbing and heating engineering work is carried out.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements 7 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on
a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance
of the liability.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when theyare due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 26 26

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 10,000 10,000
At 31 March 2024 10,000 10,000
Accumulated amortisation
At 01 April 2023 10,000 10,000
At 31 March 2024 10,000 10,000
Net book value
At 31 March 2024 0 0
At 31 March 2023 0 0

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 April 2023 3,074 1,000 354,694 20,775 379,543
Additions 0 0 52,350 0 52,350
Disposals 0 0 ( 15,455) 0 ( 15,455)
At 31 March 2024 3,074 1,000 391,589 20,775 416,438
Accumulated depreciation
At 01 April 2023 2,198 958 131,742 17,990 152,888
Charge for the financial year 439 11 35,146 83 35,679
Disposals 0 0 ( 12,663) 0 ( 12,663)
At 31 March 2024 2,637 969 154,225 18,073 175,904
Net book value
At 31 March 2024 437 31 237,364 2,702 240,534
At 31 March 2023 876 42 222,952 2,785 226,655

5. Stocks

2024 2023
£ £
Stocks 13,500 13,500
Work in progress 72,849 71,305
86,349 84,805

6. Debtors

2024 2023
£ £
Trade debtors 56,465 50,826
Corporation tax 0 2,026
Other debtors 17,992 10,374
74,457 63,226

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 60,872 70,284
Taxation and social security 56,306 63,031
Obligations under finance leases and hire purchase contracts 43,082 41,188
Other creditors 12,282 18,474
172,542 192,977

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 76,265 78,014

There are no amounts included above in respect of which any security has been given by the small entity.

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 15,000 15,000
between one and five years 3,750 18,750
18,750 33,750

10. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Directors loan account 940 462

Advances

An advance for Directors loan account was made to the director on 31 March 2024 for £940 (at interest rate of 0.00%), the conditions are . £0 has been repaid, £0 has been written off, and £0 has been waived.

An advance for Directors loan account was made to the director on 31 March 2023 for £462 (at interest rate of 0.00%), the conditions are . £0 has been repaid, £0 has been written off, and £0 has been waived.

The total liability incurred under advances is £1,402, the total amount repaid are £0, the total amounts written-off are £0 and the total amounts waived are £0.