Company registration number 02446988 (England and Wales)
ADVANCED PLUMBING & HEATING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
30-31 St. James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
ADVANCED PLUMBING & HEATING LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
ADVANCED PLUMBING & HEATING LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr M J Cook
Company number
02446988
Registered office
30 - 31 St James Place
Mangotsfield
Bristol
England
BS16 9JB
Accountants
TC Group
30-31 St. James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
ADVANCED PLUMBING & HEATING LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
19,009
-
0
Investment properties
5
1,695,000
1,569,750
1,714,009
1,569,750
Current assets
Debtors
6
55,695
37,299
Cash at bank and in hand
448,815
486,916
504,510
524,215
Creditors: amounts falling due within one year
7
(22,093)
(47,880)
Net current assets
482,417
476,335
Total assets less current liabilities
2,196,426
2,046,085
Provisions for liabilities
(66,799)
(12,523)
Net assets
2,129,627
2,033,562
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
8
2,129,527
2,033,462
Total equity
2,129,627
2,033,562

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

ADVANCED PLUMBING & HEATING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 15 August 2024
Mr M J Cook
Director
Company Registration No. 02446988
ADVANCED PLUMBING & HEATING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Advanced Plumbing & Heating Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 - 31 St James Place, Mangotsfield, Bristol, England, BS16 9JB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Plant and equipment
25% on reducing balance
1.2
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.3
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

ADVANCED PLUMBING & HEATING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.4
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.5
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.

 

ADVANCED PLUMBING & HEATING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and equipment
£
Cost
At 1 April 2023
-
0
Additions
23,396
At 31 March 2024
23,396
Depreciation and impairment
At 1 April 2023
-
0
Depreciation charged in the year
4,387
At 31 March 2024
4,387
Carrying amount
At 31 March 2024
19,009
At 31 March 2023
-
0
5
Investment property
2024
£
Fair value
At 1 April 2023
1,569,750
Revaluation
125,250
At 31 March 2024
1,695,000
ADVANCED PLUMBING & HEATING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
5
Investment property
(Continued)
- 7 -

Fair value at 31 March 2024 is represented by:

 

 

Revaluations                                    £811,531

Cost                                        £883,469

Valuation                                     £1,695,000

 

The valuation of the investment property has been made by examining recent sale prices of similar properties in the area and current list prices with a degree of judgement of market conditions at the balance sheet date.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
55,695
37,299

Within other debtors is a balance of £33,759 due from Advanced Plumbing & Heating (Bristol) Limited, a company of which M Cook is a director and shareholder.

7
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
10,486
-
0
Other creditors
11,607
47,880
22,093
47,880
8
Profit and loss reserves

Within retained earnings is a balance of £763,741 in relation to the revaluation of investment property that is not distributable to shareholders.

9
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Directors' loan
-
-
21,699
21,699
-
21,699
21,699
ADVANCED PLUMBING & HEATING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
9
Directors' transactions
(Continued)
- 8 -

The outstanding balance was repaid within 9 months of the year end.

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