Registered number
08418140
James Cheung Plumbing and Heating Ltd
Filleted Accounts
29 February 2024
James Cheung Plumbing and Heating Ltd
Registered number: 08418140
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,240 6,480
Current assets
Debtors 4 970 30
Cash at bank and in hand 6,366 2,765
7,336 2,795
Creditors: amounts falling due within one year 5 (8,123) (3,155)
Net current liabilities (787) (360)
Total assets less current liabilities 2,453 6,120
Creditors: amounts falling due after more than one year 6 (2,248) (5,964)
Net assets 205 156
Capital and reserves
Called up share capital 1 1
Profit and loss account 204 155
Shareholder's funds 205 156
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
J Cheung
Director
Approved by the board on 21 November 2024
James Cheung Plumbing and Heating Ltd
Notes to the Accounts
for the year ended 29 February 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery between 3 and 4 years
Fixtures, fittings, tools and equipment between 3 and 4 years
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2023 1,830 12,960 14,790
At 29 February 2024 1,830 12,960 14,790
Depreciation
At 1 March 2023 1,830 6,480 8,310
Charge for the year - 3,240 3,240
At 29 February 2024 1,830 9,720 11,550
Net book value
At 29 February 2024 - 3,240 3,240
At 28 February 2023 - 6,480 6,480
4 Debtors 2024 2023
£ £
Trade debtors 970 30
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other taxes and social security costs 2,877 670
Other creditors 5,246 2,485
8,123 3,155
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,748 10,400
Directors Loan Account (5,500) (4,436)
2,248 5,964
7 Other information
James Cheung Plumbing and Heating Ltd is a private company limited by shares and incorporated in England. Its registered office is:
22 Stanford Avenue
Hassocks
West Sussex
BN6 8JJ
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