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Registered number: 8345219
Gaslines Plumbing and Heating Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
C W Dix Limited
Accountants & Business Advisors
4b Silkwood Court
Wakefield
West Yorkshire
WF5 9TP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 8345219
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,635 12,885
11,635 12,885
CURRENT ASSETS
Stocks 5 10,500 10,000
Debtors 6 20,000 35,722
30,500 45,722
Creditors: Amounts Falling Due Within One Year 7 (13,887 ) (12,949 )
NET CURRENT ASSETS (LIABILITIES) 16,613 32,773
TOTAL ASSETS LESS CURRENT LIABILITIES 28,248 45,658
Creditors: Amounts Falling Due After More Than One Year 8 (11,204 ) (13,204 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 - (2,000 )
NET ASSETS 17,044 30,454
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 16,944 30,354
SHAREHOLDERS' FUNDS 17,044 30,454
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kenneth Milnes
Director
30/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Gaslines Plumbing and Heating Limited is a private company, limited by shares, incorporated in England & Wales, registered number 8345219 . The registered office is 54 White Lee Road, Batley, West Yorkshire, WF17 8AD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost basis and in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
Page 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 February 2023 15,896 23,696 39,592
As at 31 January 2024 15,896 23,696 39,592
Depreciation
As at 1 February 2023 15,199 11,508 26,707
Provided during the period - 1,250 1,250
As at 31 January 2024 15,199 12,758 27,957
Net Book Value
As at 31 January 2024 697 10,938 11,635
As at 1 February 2023 697 12,188 12,885
5. Stocks
2024 2023
£ £
Materials 10,500 10,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 20,000 35,722
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 9,997 9,697
VAT 2,906 2,268
Director's loan account 984 984
13,887 12,949
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,204 13,204
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences - 2,000
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Page 5
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5