Registered number
10714708
B Coles Plumbing & Heating Ltd
Filleted Accounts
30 April 2024
B Coles Plumbing & Heating Ltd
Registered number: 10714708
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 40,000 43,000
Tangible assets 4 13,808 18,139
53,808 61,139
Current assets
Stocks 5,000 5,000
Debtors 5 1,975 2,065
Cash at bank and in hand 206,672 214,485
213,647 221,550
Creditors: amounts falling due within one year 6 (23,442) (58,245)
Net current assets 190,205 163,305
Total assets less current liabilities 244,013 224,444
Provisions for liabilities (2,624) (3,446)
Net assets 241,389 220,998
Capital and reserves
Called up share capital 10 10
Profit and loss account 241,379 220,988
Shareholders' funds 241,389 220,998
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Chris Coles
Director
Approved by the board on 8 January 2025
B Coles Plumbing & Heating Ltd
Notes to the Accounts
for the year ended 30 April 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 (as applied to small entities by section 1A of the standard).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Computer equipment 20% reducing balance
Plant and machinery 15% reducing balance
Motor vehicles 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 60,000
At 30 April 2024 60,000
Amortisation
At 1 May 2023 17,000
Provided during the year 3,000
At 30 April 2024 20,000
Net book value
At 30 April 2024 40,000
At 30 April 2023 43,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Computer equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 750 3,892 32,141 36,783
At 30 April 2024 750 3,892 32,141 36,783
Depreciation
At 1 May 2023 537 1,963 16,144 18,644
Charge for the year 43 289 3,999 4,331
At 30 April 2024 580 2,252 20,143 22,975
Net book value
At 30 April 2024 170 1,640 11,998 13,808
At 30 April 2023 213 1,929 15,997 18,139
5 Debtors 2024 2023
£ £
Trade debtors 623 -
Other debtors 1,352 2,065
1,975 2,065
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,723 958
Amounts owed to group undertakings and undertakings in which the company has a participating interest 228 28,696
PAYE 397 510
Pensions payable 115 -
VAT 3,360 -
Taxation and social security costs 13,815 28,081
Other creditors 804 -
23,442 58,245
7 Other information
B Coles Plumbing & Heating Ltd is a private company limited by shares and incorporated in England. Its registered office is:
29 Southwell Road
Plymouth
Devon
PL6 5BG
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