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REGISTERED NUMBER: 05085835 (England and Wales)



UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

LOUMAC PLUMBING & HEATING LIMITED

LOUMAC PLUMBING & HEATING LIMITED (REGISTERED NUMBER: 05085835)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOUMAC PLUMBING & HEATING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: C Hicks
D Wadsworth





SECRETARY: D Wadsworth





REGISTERED OFFICE: Unit 18
The Timber Yard Industrial Estate
Cardiff
CF24 5EE





REGISTERED NUMBER: 05085835 (England and Wales)





ACCOUNTANTS: Lucentum Business Services Ltd
Beckwith Barn
Warren Estate
Lordship Road
Chelmsford
Essex
CM1 3WT

LOUMAC PLUMBING & HEATING LIMITED (REGISTERED NUMBER: 05085835)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,920 28,508

CURRENT ASSETS
Stocks 10,500 9,500
Debtors 5 241,593 205,273
Cash at bank 67,991 148,924
320,084 363,697
CREDITORS
Amounts falling due within one year 6 137,315 155,222
NET CURRENT ASSETS 182,769 208,475
TOTAL ASSETS LESS CURRENT
LIABILITIES

204,689

236,983

CREDITORS
Amounts falling due after more than one
year

7

-

855
NET ASSETS 204,689 236,128

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 204,687 236,126
SHAREHOLDERS' FUNDS 204,689 236,128

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

LOUMAC PLUMBING & HEATING LIMITED (REGISTERED NUMBER: 05085835)

BALANCE SHEET - continued
30 APRIL 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2024 and were signed on its behalf by:





C Hicks - Director


LOUMAC PLUMBING & HEATING LIMITED (REGISTERED NUMBER: 05085835)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Loumac Plumbing & Heating 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 (£).


Amounts are rounded to the nearest 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

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.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

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.


LOUMAC PLUMBING & HEATING LIMITED (REGISTERED NUMBER: 05085835)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 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.

Hire purchase and leasing commitments
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense 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 charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Long Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023
and 30 April 2024 1,577 16,278 61,419 2,252 81,526
DEPRECIATION
At 1 May 2023 - 15,156 37,383 479 53,018
Charge for year - 225 6,009 354 6,588
At 30 April 2024 - 15,381 43,392 833 59,606
NET BOOK VALUE
At 30 April 2024 1,577 897 18,027 1,419 21,920
At 30 April 2023 1,577 1,122 24,036 1,773 28,508

LOUMAC PLUMBING & HEATING LIMITED (REGISTERED NUMBER: 05085835)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 28,349
Transfer to ownership (28,349 )
At 30 April 2024 -
DEPRECIATION
At 1 May 2023 12,990
Charge for year 3,839
Transfer to ownership (16,829 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 15,359

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 236,403 205,273
Other debtors 5,190 -
241,593 205,273

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) - 6,329
Trade creditors 101,555 107,468
Taxation and social security (13,083 ) 13,494
Other creditors 48,843 27,931
137,315 155,222

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) - 855

LOUMAC PLUMBING & HEATING LIMITED (REGISTERED NUMBER: 05085835)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 6,329
Between one and five years - 855
- 7,184

Non-cancellable operating leases
2024 2023
£    £   
Within one year 5,773 17,211
Between one and five years 1,701 7,473
7,474 24,684

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the directors C Hicks £99 (2023 £68) and D Wadsworth £46,849 (2023 £26,860)

During the year interest of £5,564 (2023 - £2,156) was charged on the Director's loan accounts at the HMRC approved rates.

11. ULTIMATE CONTROLLING PARTY

There is no controlling party.