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REGISTERED NUMBER: 02693549 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

JOHN PASKELL (PLUMBING) LIMITED

JOHN PASKELL (PLUMBING) LIMITED (REGISTERED NUMBER: 02693549)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOHN PASKELL (PLUMBING) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr J H Paskell



SECRETARY: Mrs N Paskell



REGISTERED OFFICE: 18 Northside
Wath upon Dearne
Rotherham
South Yorkshire
S63 7RX



REGISTERED NUMBER: 02693549 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: National Westminster Bank PLC
Mexborough Branch
Bank Street
Mexborough
South Yorkshire
S64 9QE

JOHN PASKELL (PLUMBING) LIMITED (REGISTERED NUMBER: 02693549)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,206 13,829

CURRENT ASSETS
Stocks 5 5,000 15,000
Debtors 6 65,396 118,104
Cash at bank 105,577 32,630
175,973 165,734
CREDITORS
Amounts falling due within one year 7 158,735 157,623
NET CURRENT ASSETS 17,238 8,111
TOTAL ASSETS LESS CURRENT LIABILITIES 38,444 21,940

CREDITORS
Amounts falling due after more than
one year

8

14,354

21,352
NET ASSETS 24,090 588

CAPITAL AND RESERVES
Called up share capital 9 80 80
Retained earnings 24,010 508
SHAREHOLDERS' FUNDS 24,090 588

JOHN PASKELL (PLUMBING) LIMITED (REGISTERED NUMBER: 02693549)

BALANCE SHEET - continued
31 MARCH 2024


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 director acknowledges his 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.

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 director and authorised for issue on 4 September 2024 and were signed by:





Mr J H Paskell - Director


JOHN PASKELL (PLUMBING) LIMITED (REGISTERED NUMBER: 02693549)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

John Paskell (Plumbing) Limited 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.

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

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.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
When the outcome of a transaction can be estimated reliably, turnover from plumbing and central heating works recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to contractual obligations and services rendered.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

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 - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

JOHN PASKELL (PLUMBING) LIMITED (REGISTERED NUMBER: 02693549)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

JOHN PASKELL (PLUMBING) LIMITED (REGISTERED NUMBER: 02693549)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 1,211 51,250 3,216 55,677
Additions - 11,980 260 12,240
At 31 March 2024 1,211 63,230 3,476 67,917
DEPRECIATION
At 1 April 2023 1,160 37,800 2,888 41,848
Charge for year 5 4,611 247 4,863
At 31 March 2024 1,165 42,411 3,135 46,711
NET BOOK VALUE
At 31 March 2024 46 20,819 341 21,206
At 31 March 2023 51 13,450 328 13,829

5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 5,000 15,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 55,669 63,534
Amounts recoverable on contract - 39,500
Tax - 1,383
VAT 6,036 9,614
Prepayments and accrued income 3,691 4,073
65,396 118,104

JOHN PASKELL (PLUMBING) LIMITED (REGISTERED NUMBER: 02693549)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 7,000 7,000
Trade creditors 43,660 42,095
Social security and other taxes 8,583 8,839
Directors' loan accounts 86,216 86,216
Other creditors 5,522 5,522
Accrued expenses 7,754 7,951
158,735 157,623

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 7,000 7,000
Bank loans - 2-5 years 7,354 14,352
14,354 21,352

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
80 Ordinary £1 80 80