Registered number
13759843
KLM Plumbing, Heating & Electrical Ltd
Filleted Accounts
31 March 2024
KLM Plumbing, Heating & Electrical Ltd
Registered number: 13759843
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 49,848 45,750
Current assets
Stocks 35,000 36,000
Debtors 4 27,520 30,115
Cash at bank and in hand 7,130 11,733
69,650 77,848
Creditors: amounts falling due within one year 5 (215,801) (95,107)
Net current liabilities (146,151) (17,259)
Total assets less current liabilities (96,303) 28,491
Creditors: amounts falling due after more than one year 6 (39,814) (33,454)
Net liabilities (136,117) (4,963)
Capital and reserves
Called up share capital 100 100
Profit and loss account (136,217) (5,063)
Shareholders' funds (136,117) (4,963)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Hoepfner-King
Director
Approved by the board on 12 November 2024
KLM Plumbing, Heating & Electrical Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 rendering of services. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 5 years
Computer Equipment over 5 years
Plant and machinery over 5 years
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 6
3 Tangible fixed assets
Computer Equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 150 7,004 49,657 56,811
Additions - 400 46,116 46,516
Disposals - - (37,658) (37,658)
At 31 March 2024 150 7,404 58,115 65,669
Depreciation
At 1 April 2023 30 1,400 9,631 11,061
Charge for the year 30 1,479 10,683 12,192
On disposals - - (7,432) (7,432)
At 31 March 2024 60 2,879 12,882 15,821
Net book value
At 31 March 2024 90 4,525 45,233 49,848
At 31 March 2023 120 5,604 40,026 45,750
4 Debtors 2024 2023
£ £
Trade debtors 25,020 27,272
Other debtors 2,500 2,843
27,520 30,115
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 7,486 2,322
Trade creditors 10,678 5,167
Taxation and social security costs 54,704 11,888
Other creditors 142,933 75,730
215,801 95,107
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 39,814 33,454
7 Going concern
The accounts have been prepared on a going concern basis. The director has confirmed that he will continue to provide financial support to the company until such time as it's position improves.
8 Related party transactions
Included in other creditors is the amount of £125086 (£35,041 - 2023) owed to the directors. This amount is unsecured, undated, interest free and repayable on demand.
9 Controlling party
The Directors are the ultimate controlling party of the company.
# Other information
KLM Plumbing, Heating & Electrical Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 The Briars
Waterberry Drive
Waterlooville
Hampshire
PO7 7YH
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