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Registered number: 10489066
Vale Plumbing & Heating Engineers Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
James Khan
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—5
Page 1
Balance Sheet
Registered number: 10489066
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Cash at bank and in hand - 1,249
- 1,249
Creditors: Amounts Falling Due Within One Year 6 (33,215 ) (10,301 )
NET CURRENT ASSETS (LIABILITIES) (33,215 ) (9,052 )
TOTAL ASSETS LESS CURRENT LIABILITIES (33,215 ) (9,052 )
Creditors: Amounts Falling Due After More Than One Year 7 - (24,000 )
NET LIABILITIES (33,215 ) (33,052 )
CAPITAL AND RESERVES
Called up share capital 8 120 120
Profit and Loss Account (33,335 ) (33,172 )
SHAREHOLDERS' FUNDS (33,215) (33,052)
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gareth Jenkins
Director
18/11/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 March 2022 120 (22,525 ) (22,405)
Loss for the year and total comprehensive income - (10,647 ) (10,647)
As at 28 February 2023 and 1 March 2023 120 (33,172 ) (33,052)
Loss for the year and total comprehensive income - (163 ) (163)
As at 28 February 2024 120 (33,335 ) (33,215)
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Vale Plumbing & Heating Engineers Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10489066 . The registered office is The Embassy, 389 Newport Road, Cardiff, CF24 1TP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors believe that the going concern basis is not appropriate as the company has no realistic alternative but to cease trading ((or go into liquidation, or the directors intend to cease trading or place the company into liquidation)) ((Explain the basis of the conclusion and accounting policies applied in preparing the financial statements etc.))
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 10,000
As at 28 February 2024 10,000
Amortisation
As at 1 March 2023 10,000
As at 28 February 2024 10,000
Net Book Value
As at 28 February 2024 -
As at 1 March 2023 -
Page 4
Page 5
5. Debtors
2024 2023
£ £
Due within one year
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1,800
Bank loans and overdrafts - 6,000
Other creditors 33,215 5,843
Taxation and social security - (3,342 )
33,215 10,301
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 24,000
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 120 120
Page 5