2023-04-012024-03-312024-03-31false04543542Blake Edwards Plumbing & Heating 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Blake Edwards Plumbing & Heating Limited

Registered Number
04543542
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

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

Directors

B G Edwards
T L Edwards

Company Secretary

T L Edwards

Registered Address

94 Newark Road
North Hykeham
Lincoln
LN6 8NA

Registered Number

04543542 (England and Wales)
Blake Edwards Plumbing & Heating Limited
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets366,12729,690
66,12729,690
Current assets
Stocks4275250
Debtors5326,209440,689
Cash at bank and on hand-10,020
326,484450,959
Creditors amounts falling due within one year6(215,331)(296,090)
Net current assets (liabilities)111,153154,869
Total assets less current liabilities177,280184,559
Creditors amounts falling due after one year7(19,506)(32,500)
Provisions for liabilities9(12,736)(5,641)
Net assets145,038146,418
Capital and reserves
Called up share capital77
Profit and loss account145,031146,411
Shareholders' funds145,038146,418
The financial statements were approved and authorised for issue by the Board of Directors on 20 November 2024, and are signed on its behalf by:
T L Edwards
Director
Registered Company No. 04543542
Blake Edwards 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery15
Fixtures and fittings15
Vehicles25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year66
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 April 2310,36357,2391,31568,917
Additions-59,33649059,826
Disposals-(13,995)-(13,995)
At 31 March 2410,363102,5801,805114,748
Depreciation and impairment
At 01 April 236,08932,52561339,227
Charge for year64020,49317921,312
On disposals-(11,918)-(11,918)
At 31 March 246,72941,10079248,621
Net book value
At 31 March 243,63461,4801,01366,127
At 31 March 234,27424,71470229,690
4.Stocks

2024

2023

££
Raw materials and consumables275250
Total275250
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables139,670238,469
Other debtors180,823198,159
Prepayments and accrued income5,7164,061
Total326,209440,689
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables95,033156,332
Bank borrowings and overdrafts15,25415,000
Taxation and social security76,877114,401
Finance lease and HP contracts24,0746,583
Accrued liabilities and deferred income4,0933,774
Total215,331296,090
The finance lease liabilities are secured creditors.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts17,50032,500
Other creditors2,006-
Total19,50632,500
The other creditors are finance lease liabilities which are secured creditors.
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts2,006-
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)12,7365,641
Total12,7365,641
10.Related party transactions
B G & T L Edwards An advance was made to the directors during the year. At the year end, the balance due from the directors was £96,206 (2023 - £101,343). Interest is charged on the balance at the HM Revenue & Customs rate for beneficial loans.