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REGISTERED NUMBER: 07605858 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

PLUMBERS DEPOT LIMITED

PLUMBERS DEPOT LIMITED (REGISTERED NUMBER: 07605858)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


PLUMBERS DEPOT LIMITED

COMPANY INFORMATION
for the year ended 31 July 2023







DIRECTORS: Mr J Wider
Mr A Z Rosenthal





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 07605858 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

PLUMBERS DEPOT LIMITED (REGISTERED NUMBER: 07605858)

ABRIDGED BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 374,987 418,932
374,987 418,932

CURRENT ASSETS
Stocks 715,280 674,232
Debtors 5,213,101 5,042,828
Cash at bank and in hand 6,072 60,524
5,934,453 5,777,584
CREDITORS
Amounts falling due within one year 2,838,853 2,690,334
NET CURRENT ASSETS 3,095,600 3,087,250
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,470,587

3,506,182

CREDITORS
Amounts falling due after more than one year (355,454 ) (435,664 )

PROVISIONS FOR LIABILITIES (21,015 ) (20,817 )
NET ASSETS 3,094,118 3,049,701

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 3,094,116 3,049,699
SHAREHOLDERS' FUNDS 3,094,118 3,049,701

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

PLUMBERS DEPOT LIMITED (REGISTERED NUMBER: 07605858)

ABRIDGED BALANCE SHEET - continued
31 July 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 16 October 2024 and were signed on its behalf by:





Mr J Wider - Director


PLUMBERS DEPOT LIMITED (REGISTERED NUMBER: 07605858)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2023

1. STATUTORY INFORMATION

Plumbers Depot 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - Straight line over the life of the lease
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

PLUMBERS DEPOT LIMITED (REGISTERED NUMBER: 07605858)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022 35,408
Disposals (35,408 )
At 31 July 2023 -
AMORTISATION
At 1 August 2022 35,408
Eliminated on disposal (35,408 )
At 31 July 2023 -
NET BOOK VALUE

At 31 July 2023 -
At 31 July 2022 -

PLUMBERS DEPOT LIMITED (REGISTERED NUMBER: 07605858)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022 1,012,786
Additions 52,219
At 31 July 2023 1,065,005
DEPRECIATION
At 1 August 2022 593,854
Charge for year 96,164
At 31 July 2023 690,018
NET BOOK VALUE
At 31 July 2023 374,987
At 31 July 2022 418,932

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 24,167
At 31 July 2023 24,167
DEPRECIATION
Charge for year 6,042
At 31 July 2023 6,042
NET BOOK VALUE
At 31 July 2023 18,125

PLUMBERS DEPOT LIMITED (REGISTERED NUMBER: 07605858)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 939,308 560,435
Hire purchase contracts 15,305 -
954,613 560,435

The hire purchase loans are secured over the assets to which they relate.

The bank loans are secured by way of a fixed and floating charge over the undertaking and all property and assets present and future.

7. RELATED PARTY DISCLOSURES

Included in other debtors are amounts aggregating £901,694 (2022: £894,159) due from companies in which one of the directors of this company is also a director.

At the balance sheet date, the company owed £181 (2022 - £116,943) to the directors.