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REGISTERED NUMBER: 03029405 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Ilkeston Plumbing & Heating Supplies
Limited

Ilkeston Plumbing & Heating Supplies
Limited (Registered number: 03029405)






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


Ilkeston Plumbing & Heating Supplies
Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr A L Booth
Mr P Gascoyne





SECRETARY: Mrs S Booth





REGISTERED OFFICE: 64 - 66 Outram Street
Sutton in Ashfield
Nottinghamshire
NG17 4FS





REGISTERED NUMBER: 03029405 (England and Wales)





ACCOUNTANTS: D. K. Rumsby & Co Limited
3 Colwick Quays
Colwick
Nottingham
Nottinghamshire
NG4 2JY

Ilkeston Plumbing & Heating Supplies
Limited (Registered number: 03029405)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 49,213 36,087

CURRENT ASSETS
Stocks 465,000 420,000
Debtors 5 227,509 289,623
Cash at bank and in hand 153,449 255,317
845,958 964,940
CREDITORS
Amounts falling due within one year 6 (313,714 ) (416,014 )
NET CURRENT ASSETS 532,244 548,926
TOTAL ASSETS LESS CURRENT
LIABILITIES

581,457

585,013

CREDITORS
Amounts falling due after more than one
year

7

(12,500

)

(29,819

)

PROVISIONS FOR LIABILITIES (9,891 ) (6,609 )
NET ASSETS 559,066 548,585

CAPITAL AND RESERVES
Called up share capital 9 226 226
Retained earnings 558,840 548,359
SHAREHOLDERS' FUNDS 559,066 548,585

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.

Ilkeston Plumbing & Heating Supplies
Limited (Registered number: 03029405)

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 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 3 July 2024 and were signed on its behalf by:





Mr A L Booth - Director


Ilkeston Plumbing & Heating Supplies
Limited (Registered number: 03029405)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Ilkeston Plumbing & Heating Supplies 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.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

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 9 (2023 - 9 ) .

Ilkeston Plumbing & Heating Supplies
Limited (Registered number: 03029405)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 98,632
Additions 21,762
At 31 March 2024 120,394
DEPRECIATION
At 1 April 2023 62,545
Charge for year 8,636
At 31 March 2024 71,181
NET BOOK VALUE
At 31 March 2024 49,213
At 31 March 2023 36,087

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 45,495
DEPRECIATION
At 1 April 2023 31,100
Charge for year 3,599
At 31 March 2024 34,699
NET BOOK VALUE
At 31 March 2024 10,796
At 31 March 2023 14,395

Ilkeston Plumbing & Heating Supplies
Limited (Registered number: 03029405)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 125,294 188,090
Amounts owed by group undertakings 99,707 100,000
Other debtors 2,508 1,533
227,509 289,623

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 7,319 8,783
Trade creditors 253,340 351,250
Amounts owed to group undertakings 15,631 15,631
Taxation and social security 15,621 20,343
Other creditors 11,803 10,007
313,714 416,014

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 12,500 22,500
Hire purchase contracts - 7,319
12,500 29,819

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 22,500 32,500
Hire purchase contracts 7,319 16,102
29,819 48,602

Amounts are secured against the asset to which the debt relates. HSBC UK Bank PLC holds a fixed and floating charge over all assets as security for the payment and discharge of the debt due from the company to the bank.

Ilkeston Plumbing & Heating Supplies
Limited (Registered number: 03029405)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
101 Ordinary "A" £1 101 101
125 Ordinary "B" £1 125 125
226 226

10. ULTIMATE PARENT UNDERTAKING

Mayes Holdings Limited is regarded by the director as being the company's ultimate parent undertaking.