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Registration number: SC735307

R W Yuile Plumbing Heating Gas Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

R W Yuile Plumbing Heating Gas Services Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

Accountants' Report

7

 

R W Yuile Plumbing Heating Gas Services Ltd

Company Information

Directors

Mr Ryan William Yuile

Mrs Nicola Mary Yuile

Registered office

Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

Accountants

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

R W Yuile Plumbing Heating Gas Services Ltd

(Registration number: SC735307)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,481

-

Current assets

 

Stocks

5

1,000

400

Debtors

6

561

1,139

Cash at bank and in hand

 

49,182

24,965

 

50,743

26,504

Creditors: Amounts falling due within one year

7

(50,727)

(25,948)

Net current assets

 

16

556

Net assets

 

1,497

556

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,397

456

Shareholders' funds

 

1,497

556

For the financial year ending 30 June 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 19 August 2024 and signed on its behalf by:
 

.........................................
Mr Ryan William Yuile
Director

 

R W Yuile Plumbing Heating Gas Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

2

Accounting policies

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.

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.

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

Plant and machinery

Reducing balance at 25%

Office equipment

Straight line at 33%

 

R W Yuile Plumbing Heating Gas Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

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

 

R W Yuile Plumbing Heating Gas Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

Additions

994

1,097

2,091

At 30 June 2024

994

1,097

2,091

Depreciation

Charge for the year

248

362

610

At 30 June 2024

248

362

610

Carrying amount

At 30 June 2024

746

735

1,481

5

Stocks

2024
£

2023
£

Other inventories

1,000

400

6

Debtors

Current

2024
£

2023
£

Trade debtors

417

252

Other debtors

144

887

 

561

1,139

 

R W Yuile Plumbing Heating Gas Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

18,511

14,477

Taxation and social security

13,102

3,977

Other creditors

19,114

7,494

50,727

25,948

8

Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
 

30 June 2024
 £

30 June 2023
 £

Within one year

4,600

4,600

Between one and five years

6,133

10,733

10,733

15,333

9

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

Year ended 30 June 2024
 £

13 June 2022 to 30 June 2023
 £

Mr Ryan William Yuile

9,557

3,747

Mr Nicola Mary Yuile

9,557

3,747

 

19,114

7,494

The maximum balance outstanding during the year amounted to £19,114.

The directors current accounts are repayable on demand.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
R W Yuile Plumbing Heating Gas Services Ltd
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of R W Yuile Plumbing Heating Gas Services Ltd for the year ended 30 June 2024 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of R W Yuile Plumbing Heating Gas Services Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of R W Yuile Plumbing Heating Gas Services Ltd and state those matters that we have agreed to state to the Board of Directors of R W Yuile Plumbing Heating Gas Services Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R W Yuile Plumbing Heating Gas Services Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that R W Yuile Plumbing Heating Gas Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of R W Yuile Plumbing Heating Gas Services Ltd. You consider that R W Yuile Plumbing Heating Gas Services Ltd 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 accounts of R W Yuile Plumbing Heating Gas Services Ltd. 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 accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

19 August 2024