SL Heating & Plumbing Ltd 10602620 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is Plumbing & Heating Digita Accounts Production Advanced 6.30.9574.0 true 10602620 2023-03-01 2024-02-29 10602620 2024-02-29 10602620 bus:OrdinaryShareClass1 2024-02-29 10602620 bus:OrdinaryShareClass2 2024-02-29 10602620 core:CurrentFinancialInstruments 2024-02-29 10602620 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 10602620 core:Non-currentFinancialInstruments 2024-02-29 10602620 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 10602620 core:Goodwill 2024-02-29 10602620 core:FurnitureFittingsToolsEquipment 2024-02-29 10602620 core:MotorVehicles 2024-02-29 10602620 core:OtherPropertyPlantEquipment 2024-02-29 10602620 bus:SmallEntities 2023-03-01 2024-02-29 10602620 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 10602620 bus:FullAccounts 2023-03-01 2024-02-29 10602620 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 10602620 bus:RegisteredOffice 2023-03-01 2024-02-29 10602620 bus:Director1 2023-03-01 2024-02-29 10602620 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 10602620 bus:OrdinaryShareClass2 2023-03-01 2024-02-29 10602620 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10602620 bus:Agent1 2023-03-01 2024-02-29 10602620 core:Goodwill 2023-03-01 2024-02-29 10602620 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 10602620 core:MotorVehicles 2023-03-01 2024-02-29 10602620 core:OfficeEquipment 2023-03-01 2024-02-29 10602620 core:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 10602620 core:OtherVehicles 2023-03-01 2024-02-29 10602620 countries:England 2023-03-01 2024-02-29 10602620 2023-02-28 10602620 core:Goodwill 2023-02-28 10602620 core:FurnitureFittingsToolsEquipment 2023-02-28 10602620 core:MotorVehicles 2023-02-28 10602620 core:OtherPropertyPlantEquipment 2023-02-28 10602620 2022-03-01 2023-02-28 10602620 2023-02-28 10602620 bus:OrdinaryShareClass1 2023-02-28 10602620 bus:OrdinaryShareClass2 2023-02-28 10602620 core:CurrentFinancialInstruments 2023-02-28 10602620 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 10602620 core:Non-currentFinancialInstruments 2023-02-28 10602620 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 10602620 core:FurnitureFittingsToolsEquipment 2023-02-28 10602620 core:MotorVehicles 2023-02-28 10602620 core:OtherPropertyPlantEquipment 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10602620

SL Heating & Plumbing Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

SL Heating & Plumbing Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

SL Heating & Plumbing Ltd

Company Information

Director

Mr Simon Charles Paffard

Registered office

84 Blyth Road
Bromley
Kent
BR1 3RU

Accountants

T Burton & Co Ltd
Suite 1, Scotts Place
24 Scotts Road
Bromley
Kent
BR1 3QD

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
SL Heating & Plumbing Ltd
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SL Heating & Plumbing Ltd for the year ended 29 February 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of SL Heating & Plumbing Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SL Heating & Plumbing Ltd and state those matters that we have agreed to state to the Board of Directors of SL Heating & Plumbing Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SL Heating & Plumbing Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that SL Heating & Plumbing Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SL Heating & Plumbing Ltd. You consider that SL Heating & Plumbing Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of SL Heating & Plumbing Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

T Burton & Co Ltd
Suite 1, Scotts Place
24 Scotts Road
Bromley
Kent
BR1 3QD

29 November 2024

 

SL Heating & Plumbing Ltd

(Registration number: 10602620)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

5

3,039

6,078

Current assets

 

Stocks

6

440

810

Debtors

7

13,308

12,269

Cash at bank and in hand

 

11,755

12,444

 

25,503

25,523

Creditors: Amounts falling due within one year

8

(18,164)

(17,514)

Net current assets

 

7,339

8,009

Total assets less current liabilities

 

10,378

14,087

Creditors: Amounts falling due after more than one year

8

(8,979)

(12,540)

Net assets

 

1,399

1,547

Capital and Reserves

 

Called up share capital

9

1,000

1,000

Retained Earnings

399

547

Shareholders' funds

 

1,399

1,547

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 November 2024
 

.........................................
Mr Simon Charles Paffard
Director

 

SL Heating & Plumbing Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
84 Blyth Road
Bromley
Kent
BR1 3RU

These financial statements were authorised for issue by the director on 29 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% staright line

Motor vehicle

20% staright line

Computers

25% staright line

 

SL Heating & Plumbing Ltd

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

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 3 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

SL Heating & Plumbing Ltd

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

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

SL Heating & Plumbing Ltd

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2023

9,500

9,500

At 29 February 2024

9,500

9,500

Amortisation

At 1 March 2023

9,500

9,500

At 29 February 2024

9,500

9,500

Carrying amount

At 29 February 2024

-

-

5

Tangible Assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

850

15,194

4,300

20,344

At 29 February 2024

850

15,194

4,300

20,344

Depreciation

At 1 March 2023

850

9,116

4,300

14,266

Charge for the year

-

3,039

-

3,039

At 29 February 2024

850

12,155

4,300

17,305

Carrying amount

At 29 February 2024

-

3,039

-

3,039

At 28 February 2023

-

6,078

-

6,078

 

SL Heating & Plumbing Ltd

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

6

Stocks

2024
£

2023
£

Other inventories

440

810

7

Debtors

Current

2024
£

2023
£

Trade Debtors

5,678

10,502

Prepayments

-

250

Other debtors

7,630

1,517

 

13,308

12,269

 

SL Heating & Plumbing Ltd

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade Creditors

6,120

5,409

Taxation and social security

4,277

6,384

Accruals and deferred income

7,769

2,578

Other creditors

(2)

3,143

18,164

17,514

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

8,979

12,540

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

900

900

900

900

Ordinary A of £1 each

100

100

100

100

 

1,000

1,000

1,000

1,000

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

8,979

12,540