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COMPANY REGISTRATION NUMBER: 07172135
Christy Plumbing & Heating Limited
Filleted Unaudited Financial Statements
31 March 2024
Christy Plumbing & Heating Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
24,872
34,908
Investments
6
769,912
540,672
---------
---------
794,784
575,580
Current assets
Stocks
21,000
18,700
Debtors
7
129,954
102,739
Cash at bank and in hand
76,190
28,116
---------
---------
227,144
149,555
Creditors: amounts falling due within one year
8
226,781
196,281
---------
---------
Net current assets/(liabilities)
363
( 46,726)
---------
---------
Total assets less current liabilities
795,147
528,854
Provisions
Taxation including deferred tax
6,218
6,630
---------
---------
Net assets
788,929
522,224
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
788,829
522,124
---------
---------
Shareholders funds
788,929
522,224
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Christy Plumbing & Heating Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 2 December 2024 , and are signed on behalf of the board by:
L Christy
S Christy
Director
Director
Company registration number: 07172135
Christy Plumbing & Heating Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 199 High Street, Clapham, Bedfordshire, MK41 6AJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
5% straight line
Plant and machinery
-
20% straight line
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% straight line
Computer equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2023: 15 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Apr 2023
10,558
9,224
6,167
59,567
17,808
103,324
Additions
459
1,722
2,181
Disposals
( 3,199)
( 5,251)
( 11,778)
( 20,228)
--------
-------
-------
--------
--------
---------
At 31 Mar 2024
10,558
6,025
1,375
59,567
7,752
85,277
--------
-------
-------
--------
--------
---------
Depreciation
At 1 Apr 2023
1,447
6,840
5,708
39,893
14,528
68,416
Charge for the year
528
155
292
7,175
2,148
10,298
Disposals
( 1,280)
( 5,251)
( 11,778)
( 18,309)
--------
-------
-------
--------
--------
---------
At 31 Mar 2024
1,975
5,715
749
47,068
4,898
60,405
--------
-------
-------
--------
--------
---------
Carrying amount
At 31 Mar 2024
8,583
310
626
12,499
2,854
24,872
--------
-------
-------
--------
--------
---------
At 31 Mar 2023
9,111
2,384
459
19,674
3,280
34,908
--------
-------
-------
--------
--------
---------
6. Investments
Other investments other than loans
£
Cost
At 1 April 2023
540,672
Additions
150,594
Revaluations
78,646
---------
At 31 March 2024
769,912
---------
Impairment
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
769,912
---------
At 31 March 2023
540,672
---------
7. Debtors
2024
2023
£
£
Trade debtors
124,263
101,909
Other debtors
5,691
830
---------
---------
129,954
102,739
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
28,547
51,274
Corporation tax
78,767
23,786
Social security and other taxes
39,707
29,964
Other creditors
79,760
91,257
---------
---------
226,781
196,281
---------
---------