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REGISTERED NUMBER: 06440869 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

A & B PLUMBING & HEATING (THAXTED)
LIMITED

A & B PLUMBING & HEATING (THAXTED)
LIMITED (REGISTERED NUMBER: 06440869)






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


A & B PLUMBING & HEATING (THAXTED)
LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: A P Godfrey
B N Walker
J O Stagg





SECRETARY: A P Godfrey





REGISTERED OFFICE: Cart Lodge
Harps Farm
Bedlars Green
Great Hallingbury
Hertfordshire
CM22 7JL





REGISTERED NUMBER: 06440869 (England and Wales)





ACCOUNTANTS: Northfield Management Services Limited
Cart Lodge
Harps Farm
Bedlars Green
Great Hallingbury
Hertfordshire
CM22 7TL

A & B PLUMBING & HEATING (THAXTED)
LIMITED (REGISTERED NUMBER: 06440869)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 65,011 80,250

CURRENT ASSETS
Debtors 5 39,914 62,634
Cash at bank 16,221 13,800
56,135 76,434
CREDITORS
Amounts falling due within one year 6 76,054 77,031
NET CURRENT LIABILITIES (19,919 ) (597 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,092

79,653

CREDITORS
Amounts falling due after more than one
year

7

(4,544

)

(11,325

)

PROVISIONS FOR LIABILITIES (16,253 ) (19,769 )
NET ASSETS 24,295 48,559

CAPITAL AND RESERVES
Called up share capital 9 142 142
Retained earnings 24,153 48,417
SHAREHOLDERS' FUNDS 24,295 48,559

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.

A & B PLUMBING & HEATING (THAXTED)
LIMITED (REGISTERED NUMBER: 06440869)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2024 and were signed on its behalf by:





A P Godfrey - Director


A & B PLUMBING & HEATING (THAXTED)
LIMITED (REGISTERED NUMBER: 06440869)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

A & B Plumbing & Heating (Thaxted) 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.

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

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 the cost less estimated residual value of 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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

A & B PLUMBING & HEATING (THAXTED)
LIMITED (REGISTERED NUMBER: 06440869)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-portable ordinary shares.

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 and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic short-term financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.

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.

A & B PLUMBING & HEATING (THAXTED)
LIMITED (REGISTERED NUMBER: 06440869)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 1,850 2,967 111,644 1,341 117,802
DEPRECIATION
At 1 April 2023 1,825 2,609 32,568 550 37,552
Charge for year 5 90 14,943 201 15,239
At 31 March 2024 1,830 2,699 47,511 751 52,791
NET BOOK VALUE
At 31 March 2024 20 268 64,133 590 65,011
At 31 March 2023 25 358 79,076 791 80,250

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 54,731
DEPRECIATION
At 1 April 2023 11,027
Charge for year 10,927
At 31 March 2024 21,954
NET BOOK VALUE
At 31 March 2024 32,777
At 31 March 2023 43,704

A & B PLUMBING & HEATING (THAXTED)
LIMITED (REGISTERED NUMBER: 06440869)

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 24,857 15,811
Amounts recoverable on
contracts 5,000 5,000
CIS tax recoverable 8,038 31,985
VAT - 9,055
Prepayments 2,019 783
39,914 62,634

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,655 -
Hire purchase contracts 7,281 7,281
Trade creditors 22,422 23,289
Tax 19,451 27,251
Social security and other taxes 1,899 4,330
VAT 94 -
Directors' current accounts 19,642 11,880
Accrued expenses 3,610 3,000
76,054 77,031

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 4,544 11,325

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 11,825 18,606

The hire purchase liability is secured on the assets concerned.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2
140 "A" Ordinary £1 140 140
142 142