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Company No: 14717057 (England and Wales)

WATERSTONE PLUMBING & HEATING CONTRACTORS LTD

Unaudited Financial Statements
For the financial period from 08 March 2023 to 31 March 2024
Pages for filing with the registrar

WATERSTONE PLUMBING & HEATING CONTRACTORS LTD

Unaudited Financial Statements

For the financial period from 08 March 2023 to 31 March 2024

Contents

WATERSTONE PLUMBING & HEATING CONTRACTORS LTD

COMPANY INFORMATION

For the financial period from 08 March 2023 to 31 March 2024
WATERSTONE PLUMBING & HEATING CONTRACTORS LTD

COMPANY INFORMATION (continued)

For the financial period from 08 March 2023 to 31 March 2024
DIRECTORS Steven Terry Doswell (Appointed 08 March 2023)
Mark Edward Thompson (Appointed 08 March 2023)
REGISTERED OFFICE 2 Holly Tree House
Northminster Business Park
York
YO26 6QU
United Kingdom
COMPANY NUMBER 14717057 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
WATERSTONE PLUMBING & HEATING CONTRACTORS LTD

BALANCE SHEET

As at 31 March 2024
WATERSTONE PLUMBING & HEATING CONTRACTORS LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Tangible assets 3 48,830
48,830
Current assets
Stocks 4 13,000
Debtors 5 29,318
Cash at bank and in hand 6 24,679
66,997
Creditors: amounts falling due within one year 7 ( 12,398)
Net current assets 54,599
Total assets less current liabilities 103,429
Creditors: amounts falling due after more than one year 8 ( 80,000)
Net assets 23,429
Capital and reserves
Called-up share capital 9 100
Profit and loss account 23,329
Total shareholders' funds 23,429

For the financial period 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 financial statements of Waterstone Plumbing & Heating Contractors Ltd (registered number: 14717057) were approved and authorised for issue by the Board of Directors on 25 October 2024. They were signed on its behalf by:

Steven Terry Doswell
Director
WATERSTONE PLUMBING & HEATING CONTRACTORS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 08 March 2023 to 31 March 2024
WATERSTONE PLUMBING & HEATING CONTRACTORS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 08 March 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Waterstone Plumbing & Heating Contractors Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Holly Tree House, Northminster Business Park, York, YO26 6QU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance
3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

Period from
08.03.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 4

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 08 March 2023 0 0
Additions 62,517 62,517
At 31 March 2024 62,517 62,517
Accumulated depreciation
At 08 March 2023 0 0
Charge for the financial period 13,687 13,687
At 31 March 2024 13,687 13,687
Net book value
At 31 March 2024 48,830 48,830

4. Stocks

31.03.2024
£
Stocks 1,000
Work in progress 12,000
13,000

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

5. Debtors

31.03.2024
£
Trade debtors 2,004
CIS suffered 10,976
Other debtors 16,338
29,318

6. Cash and cash equivalents

31.03.2024
£
Cash at bank and in hand 24,679

7. Creditors: amounts falling due within one year

31.03.2024
£
Trade creditors 52
CIS withheld 70
Taxation and social security 1,266
Other creditors 11,010
12,398

8. Creditors: amounts falling due after more than one year

31.03.2024
£
Other creditors 80,000

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
50 Ordinary A shares of £ 1.00 each 50
50 Ordinary B shares of £ 1.00 each 50
100