Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falsePlumbing and Heating45falsetruefalse 09897562 2023-04-01 2024-03-31 09897562 2022-04-01 2023-03-31 09897562 2024-03-31 09897562 2023-03-31 09897562 c:Director1 2023-04-01 2024-03-31 09897562 c:Director2 2023-04-01 2024-03-31 09897562 d:Buildings 2023-04-01 2024-03-31 09897562 d:Buildings 2024-03-31 09897562 d:Buildings 2023-03-31 09897562 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09897562 d:LandBuildings 2024-03-31 09897562 d:LandBuildings 2023-03-31 09897562 d:PlantMachinery 2023-04-01 2024-03-31 09897562 d:PlantMachinery 2024-03-31 09897562 d:PlantMachinery 2023-03-31 09897562 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09897562 d:MotorVehicles 2023-04-01 2024-03-31 09897562 d:MotorVehicles 2024-03-31 09897562 d:MotorVehicles 2023-03-31 09897562 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09897562 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09897562 d:Goodwill 2023-04-01 2024-03-31 09897562 d:CurrentFinancialInstruments 2024-03-31 09897562 d:CurrentFinancialInstruments 2023-03-31 09897562 d:Non-currentFinancialInstruments 2024-03-31 09897562 d:Non-currentFinancialInstruments 2023-03-31 09897562 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09897562 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09897562 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 09897562 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09897562 d:ShareCapital 2024-03-31 09897562 d:ShareCapital 2023-03-31 09897562 d:SharePremium 2024-03-31 09897562 d:SharePremium 2023-03-31 09897562 d:RetainedEarningsAccumulatedLosses 2024-03-31 09897562 d:RetainedEarningsAccumulatedLosses 2023-03-31 09897562 c:OrdinaryShareClass1 2023-04-01 2024-03-31 09897562 c:OrdinaryShareClass1 2024-03-31 09897562 c:OrdinaryShareClass1 2023-03-31 09897562 c:FRS102 2023-04-01 2024-03-31 09897562 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09897562 c:FullAccounts 2023-04-01 2024-03-31 09897562 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09897562 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 09897562 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 09897562 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 09897562 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 09897562 d:HirePurchaseContracts d:MoreThanFiveYears 2024-03-31 09897562 d:HirePurchaseContracts d:MoreThanFiveYears 2023-03-31 09897562 2 2023-04-01 2024-03-31 09897562 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09897562










LEE WEST PLUMBING & HEATING LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
LEE WEST PLUMBING & HEATING LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LEE WEST PLUMBING & HEATING LTD
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lee West Plumbing & Heating Ltd for the year ended 31 March 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Lee West Plumbing & Heating Ltd, as a body, in accordance with the terms of our engagement letter dated October 2023Our work has been undertaken solely to prepare for your approval the financial statements of Lee West Plumbing & Heating Ltd and state those matters that we have agreed to state to the Board of directors of Lee West Plumbing & Heating Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lee West Plumbing & Heating Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Lee West Plumbing & Heating Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Lee West Plumbing & Heating Ltd. You consider that Lee West Plumbing & Heating Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Lee West Plumbing & Heating Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



M A Partners LLP
 
Chartered Accountants
  
12 Church Street
Cromer
Norfolk
NR27 9ER
7 October 2024
Page 1

 
LEE WEST PLUMBING & HEATING LTD
REGISTERED NUMBER: 09897562

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Intangible assets
  
21,000
31,500

Tangible assets
 4 
153,908
130,663

  
174,908
162,163

Current assets
  

Stocks
 5 
14,884
700

Debtors: amounts falling due within one year
 6 
54,099
83,660

Cash at bank and in hand
 7 
302,433
395,656

  
371,416
480,016

Creditors: amounts falling due within one year
 8 
(50,453)
(98,578)

Net current assets
  
 
 
320,963
 
 
381,438

Total assets less current liabilities
  
495,871
543,601

Creditors: amounts falling due after more than one year
 9 
(39,657)
(40,041)

  

Net assets
  
456,214
503,560


Capital and reserves
  

Called up share capital 
 11 
100
100

Share premium account
  
93,900
93,900

Profit and loss account
  
362,214
409,560

  
456,214
503,560


Page 2

 
LEE WEST PLUMBING & HEATING LTD
REGISTERED NUMBER: 09897562
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Lee West
................................................
Tulay West
Director
Director


Date: 7 October 2024

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
LEE WEST PLUMBING & HEATING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a United Kingdom private company limited by shares.  It is both incorporated and domiciled in England and Wales. The address of its registered office is 36 Happisburgh Road, North Walsham, Norfolk, NR28 9HD.
The company's principle activity is that of heating and plumbing contractors.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered a period of twelve months from the date of approval of the financial statements. They consider that projected income together with current cash reserves will be more than adequate for the company's needs. As such they believe that the financial statements should be prepared on a going concern basis.
 

Page 4

 
LEE WEST PLUMBING & HEATING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 5

 
LEE WEST PLUMBING & HEATING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 6

 
LEE WEST PLUMBING & HEATING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on either a straight-line or reducing balance basis..

Depreciation is provided on the following basis:

Freehold property
-
10 years straight line
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 7

 
LEE WEST PLUMBING & HEATING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2024
£

Wages and salaries
93,289

Social security costs
1,637

Cost of defined contribution scheme
111,508

206,434


The average monthly number of employees, including directors, during the year was 4 (2023 - 5).

Page 8

 
LEE WEST PLUMBING & HEATING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost


At 1 April 2023
5,658
12,383
190,087
208,128


Additions
7,929
10,909
113,137
131,975


Disposals
(5,658)
-
(93,463)
(99,121)



At 31 March 2024

7,929
23,292
209,761
240,982



Depreciation


At 1 April 2023
2,829
6,518
68,118
77,465


Charge for the year on owned assets
793
4,195
44,732
49,720


Disposals
(2,829)
-
(37,282)
(40,111)



At 31 March 2024

793
10,713
75,568
87,074



Net book value



At 31 March 2024
7,136
12,579
134,193
153,908




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
7,136
2,829

7,136
2,829


The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:





Page 9

 
LEE WEST PLUMBING & HEATING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Stocks

2024
2023
£
£

Raw materials and consumables
700
700

Work in progress (goods to be sold)
14,184
-

14,884
700



6.


Debtors

2024
2023
£
£


Trade debtors
235
-

Other debtors
15,927
2,522

Prepayments and accrued income
8,694
56,312

Deferred taxation
29,243
24,826

54,099
83,660



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
302,433
395,656

302,433
395,656


Page 10

 
LEE WEST PLUMBING & HEATING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
22,521
18,543

Corporation tax
-
45,644

Other taxation and social security
12,012
11,116

Obligations under finance lease and hire purchase contracts
4,311
5,886

Accruals and deferred income
11,609
17,389

50,453
98,578


The following liabilities were secured:




Details of security provided:

The obligations under finance leases and hire purchase contracts are secured against the assets they were used to acquire.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
39,657
40,041

39,657
40,041


The following liabilities were secured:




Details of security provided:

The net obligations under finance leases and hire purchase contracts are secured against the assets they were used to acquire.

Page 11

 
LEE WEST PLUMBING & HEATING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
7,199
7,199

Between 1-5 years
7,199
7,199

Over 5 years
33,762
36,840

48,160
51,238


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £111,508 (2023 - £41,245). There are £337 of contributions payable to the fund at the balance sheet date (2023 - £254).

 
Page 12