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REGISTERED NUMBER: 07482321 (England and Wales)













Financial Statements

for the Year Ended 31 March 2024

for

RLG. Plumbing & Heating Ltd

RLG. Plumbing & Heating Ltd (Registered number: 07482321)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


RLG. Plumbing & Heating Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R L Grundy
G Reed
Mrs M S Reed



REGISTERED OFFICE: 5 Ravenwood
Washingborough
LINCOLN
Lincolnshire
LN4 1TS



REGISTERED NUMBER: 07482321 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: HSBC
Cathedral Square
PETERBOROUGH
Cambridgeshire
PE1 1XL

RLG. Plumbing & Heating Ltd (Registered number: 07482321)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 89,036 22,678
89,036 22,678

CURRENT ASSETS
Stocks 2,200 2,200
Debtors 6 130,928 171,186
Cash at bank 257,661 446,818
390,789 620,204
CREDITORS
Amounts falling due within one year 7 67,179 149,746
NET CURRENT ASSETS 323,610 470,458
TOTAL ASSETS LESS CURRENT
LIABILITIES

412,646

493,136

PROVISIONS FOR LIABILITIES 22,098 3,791
NET ASSETS 390,548 489,345

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 390,448 489,245
SHAREHOLDERS' FUNDS 390,548 489,345

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

RLG. Plumbing & Heating Ltd (Registered number: 07482321)

Statement of Financial Position - continued
31 March 2024


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 Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





G Reed - Director


RLG. Plumbing & Heating Ltd (Registered number: 07482321)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

RLG. Plumbing & Heating Ltd 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition, of a business in 2014, was being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance and 10% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.


RLG. Plumbing & Heating Ltd (Registered number: 07482321)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

RLG. Plumbing & Heating Ltd (Registered number: 07482321)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,600
AMORTISATION
At 1 April 2023
and 31 March 2024 30,600
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2023 48,964 958 49,922
Additions 96,625 2,748 99,373
Disposals (21,646 ) - (21,646 )
At 31 March 2024 123,943 3,706 127,649
DEPRECIATION
At 1 April 2023 27,064 180 27,244
Charge for year 26,603 652 27,255
Eliminated on disposal (15,886 ) - (15,886 )
At 31 March 2024 37,781 832 38,613
NET BOOK VALUE
At 31 March 2024 86,162 2,874 89,036
At 31 March 2023 21,900 778 22,678

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 85,378 129,836
Directors' current accounts 18,423 19,869
VAT 23,114 17,653
Prepayments and accrued income 4,013 3,828
130,928 171,186

RLG. Plumbing & Heating Ltd (Registered number: 07482321)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 63,718 97,445
Tax - 45,864
Social security and other taxes 211 3,187
Accruals and deferred income 3,250 3,250
67,179 149,746

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
G Reed
Balance outstanding at start of year 19,622 10,341
Amounts advanced 5,104 9,281
Amounts repaid (8,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,726 19,622

R L Grundy
Balance outstanding at start of year 247 -
Amounts advanced 1,756 247
Amounts repaid (306 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,697 247