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Flow Plumbing Services Ltd

Registered Number
07852585
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Flow Plumbing Services Ltd
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Mr S McCormack
Mr A Newton

Registered Address

90 High Road
Byfleet
West Byfleet
KT14 7QT

Registered Number

07852585 (England and Wales)
Flow Plumbing Services Ltd
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3290,175302,184
290,175302,184
Current assets
Stocks8,7007,700
Debtors4126,617107,718
Current asset investments1,645,382859,700
Cash at bank and on hand307,447254,643
2,088,1461,229,761
Creditors amounts falling due within one year5(175,501)(90,339)
Net current assets (liabilities)1,912,6451,139,422
Total assets less current liabilities2,202,8201,441,606
Creditors amounts falling due after one year6(153,341)(164,679)
Provisions for liabilities(368,586)(1,509)
Net assets1,680,8931,275,418
Capital and reserves
Called up share capital200200
Revaluation reserve1,101,229812,322
Profit and loss account579,464462,896
Shareholders' funds1,680,8931,275,418
The financial statements were approved and authorised for issue by the Board of Directors on 14 November 2024, and are signed on its behalf by:
Mr S McCormack
Director
Registered Company No. 07852585
Flow Plumbing Services Ltd
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
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.
Functional and presentation currency
The presentation currency of the financial statements is the Pound Sterling (£).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Current taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Straight line (years)
Plant and machinery4
Fixtures and fittings4
Vehicles4
Office Equipment4
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities. Financial assets are measured at amortised cost and comprise of cash and cash equivalents and trade and other debtors. Financial liabilities are measured at amortised cost and comprise of trade and other creditors.
2.Average number of employees

20242023
Average number of employees during the year53
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 23379,947
Additions266
At 31 March 24380,213
Depreciation and impairment
At 01 April 2377,763
Charge for year12,275
At 31 March 2490,038
Net book value
At 31 March 24290,175
At 31 March 23302,184
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables62,90459,222
Amounts owed by associates and joint ventures / participating interests28,76721,287
Other debtors29,82022,272
Prepayments and accrued income5,1264,937
Total126,617107,718
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables89,50430,411
Bank borrowings and overdrafts22,50032,500
Taxation and social security39,14713,458
Other creditors20,78811,930
Accrued liabilities and deferred income3,5622,040
Total175,50190,339
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts153,341164,679
Total153,341164,679
The bank loan is a mortgage which is secured by way of a fixed and floating charge against the freehold property of the Company.