Registered number
08268828
Redbridge Plumbing & Heating Merchants Ltd
Report and Unaudited Accounts
31 October 2024
Redbridge Plumbing & Heating Merchants Ltd
Registered number: 08268828
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,698 2,263
Current assets
Stocks 362,000 377,950
Debtors 4 27,169 34,720
Cash at bank and in hand 7,361 10,231
396,530 422,901
Creditors: amounts falling due within one year 5 (234,306) (259,456)
Net current assets 162,224 163,445
Total assets less current liabilities 163,922 165,708
Creditors: amounts falling due after more than one year 6 (25,252) (30,758)
Net assets 138,670 134,950
Capital and reserves
Called up share capital 100 100
Profit and loss account 138,570 134,850
Shareholder's funds 138,670 134,950
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dalbir Birring
Director
Approved by the board on 14 November 2024
Redbridge Plumbing & Heating Merchants Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 226 19,083 19,309
At 31 October 2024 226 19,083 19,309
Depreciation
At 1 November 2023 226 16,820 17,046
Charge for the year - 565 565
At 31 October 2024 226 17,385 17,611
Net book value
At 31 October 2024 - 1,698 1,698
At 31 October 2023 - 2,263 2,263
4 Debtors 2024 2023
£ £
Trade debtors 2,896 19,162
Other debtors 24,273 15,558
27,169 34,720
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,174 6,174
Trade creditors 88,968 60,809
Other taxes and social security costs 67 780
Other creditors 139,097 191,693
234,306 259,456
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 25,252 30,758
7 Controlling party
The ultimate controlling party was Mr. Dalbir S. Birring, the sole director and shareholder of the company.
8 Other information
Redbridge Plumbing & Heating Merchants Ltd is a private company limited by shares and incorporated in England. Its registered office is:
43A High Street
Barkingside
Essex
IG6 2AD
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