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Registration number: 13933107

ADP Plumbing Services Limited

trading as ADP Plumbing & Property Improvements

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

ADP Plumbing Services Limited

trading as ADP Plumbing & Property Improvements

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

ADP Plumbing Services Limited

trading as ADP Plumbing & Property Improvements

Company Information

Directors

Mrs Katie Pearce

Mr Alexander Pearce

Registered office

8 Blackmores
Wivelsfield Green
Haywards Heath
West Sussex
RH17 7PZ

Accountants

Mycroft Accounts Limited
Chartered Accountant
38 Charlwood Gardens
Burgess Hill
West Sussex
RH15 0RE

 

ADP Plumbing Services Limited

trading as ADP Plumbing & Property Improvements

(Registration number: 13933107)
Balance Sheet as at 29 February 2024

Note

29 February
2024
£

28 February
2023
£

Fixed assets

 

Tangible assets

4

1,513

2,017

Current assets

 

Stocks

5

3,845

3,472

Debtors

6

41,600

9,657

Cash at bank and in hand

 

24,125

6,698

 

69,570

19,827

Creditors: Amounts falling due within one year

7

(54,239)

(21,360)

Net current assets/(liabilities)

 

15,331

(1,533)

Net assets

 

16,844

484

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

16,744

384

Shareholders' funds

 

16,844

484

 

ADP Plumbing Services Limited

trading as ADP Plumbing & Property Improvements

(Registration number: 13933107)
Balance Sheet as at 29 February 2024

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 October 2024 and signed on its behalf by:
 

Mrs Katie Pearce
Director

Mr Alexander Pearce
Director

 
     
 

ADP Plumbing Services Limited

trading as ADP Plumbing & Property Improvements

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
8 Blackmores
Wivelsfield Green
Haywards Heath
West Sussex
RH17 7PZ

These financial statements were authorised for issue by the Board on 21 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

ADP Plumbing Services Limited

trading as ADP Plumbing & Property Improvements

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% Straight line

Plant & machinery

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

ADP Plumbing Services Limited

trading as ADP Plumbing & Property Improvements

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

ADP Plumbing Services Limited

trading as ADP Plumbing & Property Improvements

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

2,689

100

2,789

At 29 February 2024

2,689

100

2,789

Depreciation

At 1 March 2023

672

100

772

Charge for the year

504

-

504

At 29 February 2024

1,176

100

1,276

Carrying amount

At 29 February 2024

1,513

-

1,513

At 28 February 2023

2,017

-

2,017

5

Stocks

29 February
2024
£

28 February
2023
£

Finished goods and goods for resale

3,845

3,472

6

Debtors

Current

29 February
2024
£

28 February
2023
£

Trade debtors

18,246

2,687

Prepayments

160

-

Other debtors

23,194

6,970

 

41,600

9,657

 

ADP Plumbing Services Limited

trading as ADP Plumbing & Property Improvements

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Creditors

Creditors: amounts falling due within one year

29 February
2024
£

28 February
2023
£

Due within one year

Taxation and social security

45,712

15,350

Accruals and deferred income

8,527

5,190

Other creditors

-

820

54,239

21,360

8

Share capital

Allotted, called up and fully paid shares

29 February
2024

28 February
2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

9

Related party transactions

The directors owed the company £20,697 (2023: £6,000) at the balance sheet date. A balance of £13,300 was repaid within nine months of the year end.