2023-04-012024-03-312024-03-31false07662478Phil Holt Plumbing & Heating 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Phil Holt Plumbing & Heating Limited

Registered Number
07662478
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Phil Holt Plumbing & Heating Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Holt, Paula
Holt, Philip John

Registered Address

1 Park Gardens
Yeovil
BA20 1DW

Place of Business

355 Mundens Lane

Alweston

Sherborne

Dorset

DT9 5HU


Registered Number

07662478 (England and Wales)
Phil Holt Plumbing & Heating Limited
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets411,15514,874
11,15514,874
Current assets
Stocks51,5001,500
Debtors618,79317,356
Cash at bank and on hand88,69176,394
108,98495,250
Creditors amounts falling due within one year7(29,402)(20,769)
Net current assets (liabilities)79,58274,481
Total assets less current liabilities90,73789,355
Provisions for liabilities(2,120)(2,826)
Net assets88,61786,529
Capital and reserves
Called up share capital100100
Profit and loss account88,51786,429
Shareholders' funds88,61786,529
The financial statements were approved and authorised for issue by the Board of Directors on 21 November 2024, and are signed on its behalf by:
Holt, Philip John
Director
Registered Company No. 07662478
Phil Holt Plumbing & Heating Limited
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
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from rendering of services
Revenue 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.
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.
Intangible assets
Intangible assets are measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated impairment losses. Intangible asset - goodwill that was paid in connection with the acquisition of a business in 2011 and was amortised evenly over its estimated useful life of ten years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles25
Office Equipment25
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees
The following average number of employees includes directors.

20242023
Average number of employees during the year22
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2310,00010,000
At 31 March 2410,00010,000
Amortisation and impairment
At 01 April 2310,00010,000
At 31 March 2410,00010,000
Net book value
At 31 March 24--
At 31 March 23--
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 233,08927,470672,19632,822
At 31 March 243,08927,470672,19632,822
Depreciation and impairment
At 01 April 231,98014,272641,63217,948
Charge for year2783,29911413,719
At 31 March 242,25817,571651,77321,667
Net book value
At 31 March 248319,899242311,155
At 31 March 231,10913,198356414,874
5.Stocks

2024

2023

££
Raw materials and consumables1,5001,500
Total1,5001,500
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables9,1328,581
Other debtors8,8838,049
Prepayments and accrued income778726
Total18,79317,356
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.
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables11,0446,561
Amounts owed to related parties3,9354,097
Taxation and social security11,3649,191
Accrued liabilities and deferred income3,059920
Total29,40220,769
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.