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REGISTERED NUMBER: 04685428 (England and Wales)















S J KING PLUMBING AND HEATING LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






S J KING PLUMBING AND HEATING LIMITED (REGISTERED NUMBER: 04685428)

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










Page

Company Information 1

Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


S J KING PLUMBING AND HEATING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr S J King
Mrs S J King





SECRETARY: Mrs S J King





REGISTERED OFFICE: Unit 1, Beeches Industrial Park
Littleton Road
Winchester
Hampshire
SO21 2QD





REGISTERED NUMBER: 04685428 (England and Wales)





ACCOUNTANTS: Rothmans CF Limited
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
S J KING PLUMBING AND HEATING LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of S J King Plumbing and Heating Limited for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of S J King Plumbing and Heating Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of S J King Plumbing and Heating Limited and state those matters that we have agreed to state to the Board of Directors of S J King Plumbing and Heating Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than S J King Plumbing and Heating Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that S J King Plumbing and Heating Limited 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 profit of S J King Plumbing and Heating Limited. You consider that S J King Plumbing and Heating Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of S J King Plumbing and Heating Limited. 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.






Rothmans CF Limited
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR


9 October 2024

S J KING PLUMBING AND HEATING LIMITED (REGISTERED NUMBER: 04685428)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 116,094 74,147
116,094 74,147

CURRENT ASSETS
Stocks 5,400 4,500
Debtors 6 47,525 51,669
Cash at bank 95,142 87,126
148,067 143,295
CREDITORS
Amounts falling due within one year 7 152,645 167,214
NET CURRENT LIABILITIES (4,578 ) (23,919 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

111,516

50,228

CREDITORS
Amounts falling due after more than one
year

8

(35,231

)

-

PROVISIONS FOR LIABILITIES 11 (29,023 ) (18,537 )
NET ASSETS 47,262 31,691

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 47,256 31,685
47,262 31,691

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 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.

S J KING PLUMBING AND HEATING LIMITED (REGISTERED NUMBER: 04685428)

STATEMENT OF FINANCIAL POSITION - 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:





Mr S J King - Director


S J KING PLUMBING AND HEATING LIMITED (REGISTERED NUMBER: 04685428)

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


1. STATUTORY INFORMATION

S J King Plumbing and Heating Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04685428 and the registered office address is Unit 1, Beeches Industrial Park, Littleton Road, Winchester, Hampshire, SO21 2QD.

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.

The presentation currency of the financial statements is the Pound Sterling (£)

Going concern
The financial statements have been prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

There have been no judgements and estimates which have had a significant effect on amounts recognised in the financial statements during the year.

Turnover
Turnover represents net sales during the year (excluding value added tax) adjusted for accrued and deferred income where applicable in respect of the provision of plumbing and heating services. Turnover is recognised on completion of the service.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
All tangible fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

Depreciation is provided at rates calculated to write off the costs less residual value of each asset over its expected useful life, as follows:

Motor vehicles 25% reducing balance
Office equipment33% on cost

The asset's residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted prospectively.

Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the income statement.

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

S J KING PLUMBING AND HEATING LIMITED (REGISTERED NUMBER: 04685428)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.date.

Leases
Where assets are financed by leasing agreements that give rights approximating to ownership, the assets are treated as if they have been purchased outright. The amount capitalised is their fair value of the asset concerned. The corresponding liability to the leasing company is included as an obligation under finance leases.

Depreciation on leased assets is charged to the income statement over the shorter of the lease term and their useful life.

Leasing payments are treated as consisting of capital and interest elements, and interest is charged to the income statement on a straight line basis which is considered to be a reasonable approximation to a constant rate of charge on the outstanding balance.

All other leases are treated as 'operating leases' and the relevant annual rentals are charged to the income statement on a straight line basis over the lease term.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charge to the income statement in the period in which they relate.

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 AND DIRECTORS

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

S J KING PLUMBING AND HEATING LIMITED (REGISTERED NUMBER: 04685428)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 April 2023
and 31 March 2024 30,925
AMORTISATION
At 1 April 2023
and 31 March 2024 30,925
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Motor Office
vehicles equipment Totals
£ £ £
COST
At 1 April 2023 213,035 9,632 222,667
Additions 67,084 609 67,693
Disposals (42,370 ) - (42,370 )
At 31 March 2024 237,749 10,241 247,990
DEPRECIATION
At 1 April 2023 140,051 8,469 148,520
Charge for year 19,901 1,010 20,911
Eliminated on disposal (37,535 ) - (37,535 )
At 31 March 2024 122,417 9,479 131,896
NET BOOK VALUE
At 31 March 2024 115,332 762 116,094
At 31 March 2023 72,984 1,163 74,147

The net book value of tangible fixed assets includes £65,292 (2023: £21,893) in respect of assets held under finance leases.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 40,190 42,666
Other debtors 255 1,785
Prepayments 7,080 7,218
47,525 51,669

S J KING PLUMBING AND HEATING LIMITED (REGISTERED NUMBER: 04685428)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts (see note 9) 11,643 7,865
Trade creditors 83,224 80,954
Social security and other taxes 16,936 18,735
VAT 6,303 20,502
Other creditors 23,414 25,273
Directors' current accounts 6,224 9,212
Accrued expenses 4,901 4,673
152,645 167,214

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Hire purchase contracts (see note 9) 35,231 -

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 11,643 7,865
Between one and five years 35,231 -
46,874 7,865

Non-cancellable
operating leases
2024 2023
£ £
Within one year 2,130 2,130

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 46,874 7,865

Obligations under hire purchase contracts are secured on the assets to which they relate.

11. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 29,023 18,537

S J KING PLUMBING AND HEATING LIMITED (REGISTERED NUMBER: 04685428)

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


11. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 April 2023 18,537
Provided during year 10,486
Movement
Balance at 31 March 2024 29,023

The provision for deferred tax relates solely to accelerated capital allowances.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the company paid various personal expenses and made interest-free advances to the directors amounting to £57,965, which were repaid. The balance due to the directors at the year end is £6,224 (2023: £9,212).