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REGISTERED NUMBER: 10613249 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29th February 2024

for

PVM Plumbing Ltd

PVM Plumbing Ltd (Registered number: 10613249)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PVM Plumbing Ltd

Company Information
for the Year Ended 29th February 2024







DIRECTORS: P C McManus
Mrs V L McManus





REGISTERED OFFICE: 29 High Street
Blue Town
SHEERNESS
Kent
ME12 1RN





REGISTERED NUMBER: 10613249 (England and Wales)





ACCOUNTANTS: Blain Pritchard
Chartered Certified Accountants
29 High Street
Blue Town
SHEERNESS
Kent
ME12 1RN

PVM Plumbing Ltd (Registered number: 10613249)

Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,440 33,571

CURRENT ASSETS
Stocks 25,000 34,000
Debtors 5 52,473 46,193
Cash at bank and in hand 4,262 25,087
81,735 105,280
CREDITORS
Amounts falling due within one year 6 75,985 70,542
NET CURRENT ASSETS 5,750 34,738
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,190

68,309

CREDITORS
Amounts falling due after more than one
year

7

(30,232

)

(35,538

)

PROVISIONS FOR LIABILITIES (5,784 ) (6,378 )
NET ASSETS 174 26,393

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 72 26,291
SHAREHOLDERS' FUNDS 174 26,393

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

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

PVM Plumbing Ltd (Registered number: 10613249)

Balance Sheet - continued
29th 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th November 2024 and were signed on its behalf by:




P C McManus - Director



Mrs V L McManus - Director


PVM Plumbing Ltd (Registered number: 10613249)

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


1. STATUTORY INFORMATION

PVM 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

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 Profit and Loss Account, 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.

PVM Plumbing Ltd (Registered number: 10613249)

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


2. ACCOUNTING POLICIES - continued

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 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st March 2023 48,564
Additions 14,999
Disposals (13,990 )
At 29th February 2024 49,573
DEPRECIATION
At 1st March 2023 14,993
Charge for year 10,261
Eliminated on disposal (6,121 )
At 29th February 2024 19,133
NET BOOK VALUE
At 29th February 2024 30,440
At 28th February 2023 33,571

PVM Plumbing Ltd (Registered number: 10613249)

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


4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1st March 2023 48,107
Additions 14,999
Disposals (13,990 )
At 29th February 2024 49,116
DEPRECIATION
At 1st March 2023 14,650
Charge for year 10,147
Eliminated on disposal (6,121 )
At 29th February 2024 18,676
NET BOOK VALUE
At 29th February 2024 30,440
At 28th February 2023 33,457

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,622 10,466
Other debtors 46,851 35,727
52,473 46,193

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,500 7,500
Hire purchase contracts 7,893 6,013
Trade creditors 17,828 21,878
Taxation and social security 10,896 14,561
Other creditors 31,868 20,590
75,985 70,542

PVM Plumbing Ltd (Registered number: 10613249)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 9,375 16,875
Hire purchase contracts 20,857 18,663
30,232 35,538

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29th February 2024 and 28th February 2023:

2024 2023
£    £   
P C McManus
Balance outstanding at start of year - -
Amounts advanced 32,283 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,283 -