Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 06248772 Mr Steven Weston Mr Simon Annear Mr Lewis Annear Mrs Paula Annear iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06248772 2023-05-31 06248772 2024-05-31 06248772 2023-06-01 2024-05-31 06248772 frs-core:CurrentFinancialInstruments 2024-05-31 06248772 frs-core:Non-currentFinancialInstruments 2024-05-31 06248772 frs-core:BetweenOneFiveYears 2024-05-31 06248772 frs-core:ComputerEquipment 2024-05-31 06248772 frs-core:ComputerEquipment 2023-06-01 2024-05-31 06248772 frs-core:ComputerEquipment 2023-05-31 06248772 frs-core:FurnitureFittings 2024-05-31 06248772 frs-core:FurnitureFittings 2023-06-01 2024-05-31 06248772 frs-core:FurnitureFittings 2023-05-31 06248772 frs-core:MotorVehicles 2024-05-31 06248772 frs-core:MotorVehicles 2023-06-01 2024-05-31 06248772 frs-core:MotorVehicles 2023-05-31 06248772 frs-core:PlantMachinery 2024-05-31 06248772 frs-core:PlantMachinery 2023-06-01 2024-05-31 06248772 frs-core:PlantMachinery 2023-05-31 06248772 frs-core:WithinOneYear 2024-05-31 06248772 frs-core:ShareCapital 2024-05-31 06248772 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 06248772 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06248772 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 06248772 frs-bus:SmallEntities 2023-06-01 2024-05-31 06248772 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 06248772 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 06248772 frs-bus:Director1 2023-06-01 2024-05-31 06248772 frs-bus:Director2 2023-06-01 2024-05-31 06248772 frs-bus:Director3 2023-06-01 2024-05-31 06248772 frs-bus:Director4 2023-06-01 2024-05-31 06248772 frs-core:CurrentFinancialInstruments 3 2024-05-31 06248772 frs-core:CurrentFinancialInstruments 5 2024-05-31 06248772 frs-core:CurrentFinancialInstruments 9 2024-05-31 06248772 frs-countries:EnglandWales 2023-06-01 2024-05-31 06248772 2022-05-31 06248772 2023-05-31 06248772 2022-06-01 2023-05-31 06248772 frs-core:CurrentFinancialInstruments 2023-05-31 06248772 frs-core:Non-currentFinancialInstruments 2023-05-31 06248772 frs-core:BetweenOneFiveYears 2023-05-31 06248772 frs-core:WithinOneYear 2023-05-31 06248772 frs-core:ShareCapital 2023-05-31 06248772 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 06248772 frs-core:CurrentFinancialInstruments 1 2023-05-31 06248772 frs-core:CurrentFinancialInstruments 3 2023-05-31 06248772 frs-core:CurrentFinancialInstruments 4 2023-05-31 06248772 frs-core:CurrentFinancialInstruments 5 2023-05-31 06248772 frs-core:CurrentFinancialInstruments 9 2023-05-31
Registered number: 06248772
Simon Annear Plumbing and heating Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Whyfield Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06248772
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 206,397 119,071
Investment Properties 5 145,000 145,000
351,397 264,071
CURRENT ASSETS
Stocks 6 62,288 28,700
Debtors 7 110,383 205,098
Cash at bank and in hand 102,992 71,230
275,663 305,028
Creditors: Amounts Falling Due Within One Year 8 (436,635 ) (398,593 )
NET CURRENT ASSETS (LIABILITIES) (160,972 ) (93,565 )
TOTAL ASSETS LESS CURRENT LIABILITIES 190,425 170,506
Creditors: Amounts Falling Due After More Than One Year 9 (141,757 ) (117,466 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,911 ) (11,320 )
NET ASSETS 44,757 41,720
CAPITAL AND RESERVES
Called up share capital 11 125 125
Profit and Loss Account 44,632 41,595
SHAREHOLDERS' FUNDS 44,757 41,720
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon Annear
Director
03/10/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Simon Annear Plumbing and heating Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06248772 . The registered office is Ground Floor, Building A Green Court, Truro, Cornwall, TR4 9LF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% RB
Motor Vehicles 20% RB
Fixtures & Fittings 20% RB
Computer Equipment 20% SL
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 14)
14 14
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 66,232 162,298 21,081 712 250,323
Additions 201 123,477 - - 123,678
Disposals - (27,945 ) - - (27,945 )
As at 31 May 2024 66,433 257,830 21,081 712 346,056
Depreciation
As at 1 June 2023 48,575 67,468 14,924 285 131,252
Provided during the period 3,655 31,322 1,232 143 36,352
Disposals - (27,945 ) - - (27,945 )
As at 31 May 2024 52,230 70,845 16,156 428 139,659
Net Book Value
As at 31 May 2024 14,203 186,985 4,925 284 206,397
As at 1 June 2023 17,657 94,830 6,157 427 119,071
5. Investment Property
2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 145,000
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6. Stocks
2024 2023
£ £
Stock 3,900 -
Materials - 7,400
Work in progress 58,388 21,300
62,288 28,700
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 54,940 143,730
Prepayments and accrued income 1,707 2,707
Other debtors - 4,998
Intercompany - 9,027
Retention. 9,421 -
VAT 44,315 30,162
Directors' loan accounts - 14,474
110,383 205,098
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 26,102 2,525
Trade creditors 151,573 207,559
Bank loans and overdrafts 98,255 105,954
Corporation tax 36,197 26,827
CIS Liability 293 2,539
PAYE Payable 13,959 10,346
Retention - (849 )
Pensions payable 322 362
Accruals and deferred income - 900
Directors' loan accounts 31,414 42,430
Intercompany. 78,520 -
436,635 398,593
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 58,512 5,570
Bank loans 83,245 111,896
141,757 117,466
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 26,102 2,525
Later than one year and not later than five years 58,512 5,570
84,614 8,095
84,614 8,095
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 125 125
12. Related Party Transactions
Related Party: Simon Annear Electrical Ltd
At the end of the financial year there was an intercompany balance owing to Simon Annear Electrical Ltd a company under common control
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