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REGISTERED NUMBER: 02573059 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

UPFIELDS PLUMBING & HEATING CONTRACTORS
LIMITED

UPFIELDS PLUMBING & HEATING CONTRACTORS
LIMITED (REGISTERED NUMBER: 02573059)






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


UPFIELDS PLUMBING & HEATING CONTRACTORS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: G J Bailey





REGISTERED OFFICE: 30 - 34 North Street
Hailsham
East Sussex
BN27 1DW





REGISTERED NUMBER: 02573059 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Ltd
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

UPFIELDS PLUMBING & HEATING CONTRACTORS
LIMITED (REGISTERED NUMBER: 02573059)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 55,981 51,840

CURRENT ASSETS
Stocks 54,244 79,395
Debtors 5 371,539 347,311
Cash at bank 76,445 18,909
502,228 445,615
CREDITORS
Amounts falling due within one year 6 (231,701 ) (238,576 )
NET CURRENT ASSETS 270,527 207,039
TOTAL ASSETS LESS CURRENT
LIABILITIES

326,508

258,879

PROVISIONS FOR LIABILITIES (1,763 ) -
NET ASSETS 324,745 258,879

CAPITAL AND RESERVES
Called up share capital 7 133 133
Share premium 12,467 12,467
Retained earnings 312,145 246,279
SHAREHOLDERS' FUNDS 324,745 258,879

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.

UPFIELDS PLUMBING & HEATING CONTRACTORS
LIMITED (REGISTERED NUMBER: 02573059)

BALANCE SHEET - 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2024 and were signed by:





G J Bailey - Director


UPFIELDS PLUMBING & HEATING CONTRACTORS
LIMITED (REGISTERED NUMBER: 02573059)

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

1. STATUTORY INFORMATION

Upfields Plumbing & Heating Contractors 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.

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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from bank and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at the amortised cost using the effective interest method

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is no intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

UPFIELDS PLUMBING & HEATING CONTRACTORS
LIMITED (REGISTERED NUMBER: 02573059)

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 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 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.

Long term contracts
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 23,738 117,487 48,665 189,890
Additions 74 22,989 973 24,036
Disposals - (23,998 ) - (23,998 )
At 31 March 2024 23,812 116,478 49,638 189,928
DEPRECIATION
At 1 April 2023 22,304 68,078 47,668 138,050
Charge for year 226 17,872 886 18,984
Eliminated on disposal - (23,087 ) - (23,087 )
At 31 March 2024 22,530 62,863 48,554 133,947
NET BOOK VALUE
At 31 March 2024 1,282 53,615 1,084 55,981
At 31 March 2023 1,434 49,409 997 51,840

UPFIELDS PLUMBING & HEATING CONTRACTORS
LIMITED (REGISTERED NUMBER: 02573059)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 80,912 113,417
Amounts owed by group undertakings 20,933 188,179
Other debtors 269,694 45,715
371,539 347,311

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 142,519 166,780
Taxation and social security 69,904 56,730
Other creditors 19,278 15,066
231,701 238,576

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 A Ordinary 1p 100 100
3,333 B Ordinary 1p 33 33
133 133

8. RELATED PARTY DISCLOSURES

At the year end a balance of £20,933.30 was due from Bailey Holdings (Sussex) Ltd a company in which Mr G Bailey is sole director and shareholder of.

At the year end a balance of £100 (2023 - £100) was due to Broadview Builders Limited, a company in which Mr G Bailey is a director and 50% shareholder.

All transactions were at arms length.