REGISTERED NUMBER: |
COMFORT SYSTEMS PLUMBING & HEATING LTD |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024 |
REGISTERED NUMBER: |
COMFORT SYSTEMS PLUMBING & HEATING LTD |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024 |
COMFORT SYSTEMS PLUMBING & HEATING LTD (REGISTERED NUMBER: SC354310) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 28 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
COMFORT SYSTEMS PLUMBING & HEATING LTD |
COMPANY INFORMATION |
For The Year Ended 28 February 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
16 Royal Crescent |
Glasgow |
G3 7SL |
COMFORT SYSTEMS PLUMBING & HEATING LTD (REGISTERED NUMBER: SC354310) |
BALANCE SHEET |
28 February 2024 |
28.2.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
COMFORT SYSTEMS PLUMBING & HEATING LTD (REGISTERED NUMBER: SC354310) |
BALANCE SHEET - continued |
28 February 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
COMFORT SYSTEMS PLUMBING & HEATING LTD (REGISTERED NUMBER: SC354310) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 28 February 2024 |
1. | STATUTORY INFORMATION |
Comfort Systems Plumbing & Heating Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each assets over its estimated useful life: |
Plant and vehicles - 25% reducing balance, 33% on cost |
Government grants |
Government grants in respect of revenue expenditure are credited to the profit and loss account in the period to which they relate. Government grants in respect of capital expenditure are treated as deferred income and credited to the profit and loss account over the estimated useful life of the assets to which they relate. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme for employees and makes pension contributions to the personal pension schemes of the company's directors. Contributions payable to these pension schemes are charged to profit or loss in the period to which they relate. |
COMFORT SYSTEMS PLUMBING & HEATING LTD (REGISTERED NUMBER: SC354310) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 28 February 2024 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts are capitalised in the balance sheet. These assets are initially recognised at transaction price and are depreciated over their estimated useful lives. The interest element of these obligations is charged to the profit and loss account over the relevant period using the effective interest rate method. The capital element of future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
vehicles |
£ |
COST |
At 1 March 2023 |
Additions |
Disposals | ( |
) |
At 28 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
At 28 February 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.24 | 28.2.23 |
£ | £ |
Trade debtors |
Other debtors |
Directors' loan accounts | 19,266 | 25,474 |
Tax recoverable |
COMFORT SYSTEMS PLUMBING & HEATING LTD (REGISTERED NUMBER: SC354310) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 28 February 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.24 | 28.2.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Hire purchase | - | 6,463 |
Director's loan account | 84,657 | - |
Other creditors | 8,515 | 33,094 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
28.2.24 | 28.2.23 |
£ | £ |
Hire purchase | - | 1,920 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
28.2.24 | 28.2.23 |
£ | £ |
Hire purchase | - | 8,382 |
Hire purchase creditors had security over related assets. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.24 | 28.2.23 |
value: | £ | £ |
4 | Ordinary | £1 | - | 4 |
1 | A Ordinary | £1 | 1 | - |
1 | B Ordinary | £1 | 1 | - |
2 | C Ordinary | £1 | 2 | - |
- |
4 | 4 |
On 1 June 2023 a resolution was passed converting 1 Ordinary share of £1 into 1 A Ordinary share of £1, 1 Ordinary share of £1 into 1 B Ordinary share of £1 and 2 Ordinary shares of £1 each into 2 C ordinary shares of £1 each. |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At the year end, the company had provided one of the company's directors with interest free loans totalling £19,266. There are no fixed repayment terms for these loans. |
At 28 February 2023 the company had provided the company's directors with interest free loans totalling £25,474. There were no fixed repayment terms for these loans. |
COMFORT SYSTEMS PLUMBING & HEATING LTD (REGISTERED NUMBER: SC354310) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 28 February 2024 |
11. | RELATED PARTY DISCLOSURES |
At the year end, one of the company's directors had provided the company with interest free loans of £84,657 (2023, £0). There are no fixed repayment terms for these loans. |