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REGISTERED NUMBER: 12439148 (England and Wales)
















































Financial Statements

for the Year Ended 29 February 2024

for

Elements Plumbing Ltd

Elements Plumbing Ltd (Registered number: 12439148)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Elements Plumbing Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: S Underwood
Mrs M C Underwood





REGISTERED OFFICE: The Old Post Office
41-43 Market Place
Chippenham
Wiltshire
SN15 3HR





REGISTERED NUMBER: 12439148 (England and Wales)





ACCOUNTANTS: Mander Duffill
Chartered Accountants
The Old Post Office
41-43 Market Place
Chippenham
Wiltshire
SN15 3HR

Elements Plumbing Ltd (Registered number: 12439148)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 66,954 28,157

CURRENT ASSETS
Debtors 5 34,491 24,639
Cash at bank 7,009 8,000
41,500 32,639
CREDITORS
Amounts falling due within one year 6 28,198 30,344
NET CURRENT ASSETS 13,302 2,295
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,256

30,452

CREDITORS
Amounts falling due after more than one
year

7

(67,474

)

(30,237

)

PROVISIONS FOR LIABILITIES (12,110 ) (33 )
NET ASSETS 672 182

CAPITAL AND RESERVES
Called up share capital 170 170
Retained earnings 502 12
SHAREHOLDERS' FUNDS 672 182

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Elements Plumbing Ltd (Registered number: 12439148)

Balance Sheet - continued
29 February 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 26 November 2024 and were signed on its behalf by:





S Underwood - Director


Elements Plumbing Ltd (Registered number: 12439148)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Elements Plumbing Ltd 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.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 20% on cost

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Elements Plumbing Ltd (Registered number: 12439148)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 35,296
Additions 59,578
At 29 February 2024 94,874
DEPRECIATION
At 1 March 2023 7,139
Charge for year 20,781
At 29 February 2024 27,920
NET BOOK VALUE
At 29 February 2024 66,954
At 28 February 2023 28,157

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

Plant and
machinery
etc
£   
COST
At 1 March 2023 35,030
Additions 58,335
At 29 February 2024 93,365
DEPRECIATION
At 1 March 2023 7,006
Charge for year 20,465
At 29 February 2024 27,471
NET BOOK VALUE
At 29 February 2024 65,894
At 28 February 2023 28,024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 5,623 1,067
Other debtors 28,868 23,572
34,491 24,639

Elements Plumbing Ltd (Registered number: 12439148)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 13 13
Other creditors 28,185 30,331
28,198 30,344

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Other creditors 67,474 30,237