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Company registration number: 12132230
ABBEY PLUMBING AND HEATING SHROPSHIRE LIMITED
UNAUDITED FILLETED FINANCIAL STATEMENTS
31 July 2024
ABBEY PLUMBING AND HEATING SHROPSHIRE LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
ABBEY PLUMBING AND HEATING SHROPSHIRE LIMITED
DIRECTORS AND OTHER INFORMATION
Directors Mr N B Jackson
Company number 12132230
Registered office Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
Business address 38 Belvidere Road
Shrewsbury
Shropshire
SY2 5LU
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 2AB
ABBEY PLUMBING AND HEATING SHROPSHIRE LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ABBEY PLUMBING AND HEATING SHROPSHIRE LIMITED
YEAR ENDED 31ST JULY 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Abbey Plumbing and Heating Shropshire Limited for the year ended 31 July 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Abbey Plumbing and Heating Shropshire Limited, as a body, in accordance with the terms of our engagement letter dated 24 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Abbey Plumbing and Heating Shropshire Limited and state those matters that we have agreed to state to the board of directors of Abbey Plumbing and Heating Shropshire Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbey Plumbing and Heating Shropshire Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Abbey Plumbing and Heating Shropshire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Abbey Plumbing and Heating Shropshire Limited. You consider that Abbey Plumbing and Heating Shropshire Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Abbey Plumbing and Heating Shropshire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 2AB
25 November 2024
ABBEY PLUMBING AND HEATING SHROPSHIRE LIMITED
STATEMENT OF FINANCIAL POSITION
31ST JULY 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 4,042 4,773
_______ _______
4,042 4,773
Current assets
Stocks and Work-in-Progress 1,029 8,731
Debtors 6 3,980 1,380
Cash at bank and in hand 14,192 7,531
_______ _______
19,201 17,642
Creditors: amounts falling due
within one year 7 ( 19,023) ( 10,706)
_______ _______
Net current assets 178 6,936
_______ _______
Total assets less current liabilities 4,220 11,709
_______ _______
Net assets 4,220 11,709
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,219 11,708
_______ _______
Shareholders funds 4,220 11,709
_______ _______
For the year ending 31 July 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.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 18 November 2024 , and are signed on behalf of the board by:
Mr N B Jackson
Director
Company registration number: 12132230
ABBEY PLUMBING AND HEATING SHROPSHIRE LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31ST JULY 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 August 2020 1 11,950 11,951
Profit for the year 19,758 19,758
_______ _______ _______
Total comprehensive income for the year - 19,758 19,758
Dividends paid and payable ( 20,000) ( 20,000)
_______ _______ _______
Total investments by and distributions to owners - ( 20,000) ( 20,000)
_______ _______ _______
At 31 July 2023 and 1 August 2023 1 11,708 11,709
Profit for the year 21,511 21,511
_______ _______ _______
Total comprehensive income for the year - 21,511 21,511
Dividends paid and payable ( 29,000) ( 29,000)
_______ _______ _______
Total investments by and distributions to owners - ( 29,000) ( 29,000)
_______ _______ _______
At 31 July 2024 1 4,219 4,220
_______ _______ _______
ABBEY PLUMBING AND HEATING SHROPSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST JULY 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 Countrywide House, Knights Way, Shrewsbury, Shropshire, SY1 3AB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the value of the consideration received or receivable for services supplied, net of discounts and 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 the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
Stocks and Work-in-Progess
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 stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 418 926 12,130 13,474
Additions - 553 - 553
Disposals ( 21) ( 320) - ( 341)
_______ _______ _______ _______
At 31 July 2024 397 1,159 12,130 13,686
_______ _______ _______ _______
Depreciation
At 1 August 2023 193 429 8,079 8,701
Charge for the year 32 56 1,013 1,101
Disposals ( 10) ( 148) - ( 158)
_______ _______ _______ _______
At 31 July 2024 215 337 9,092 9,644
_______ _______ _______ _______
Carrying amount
At 31 July 2024 182 822 3,038 4,042
_______ _______ _______ _______
At 31 July 2023 225 497 4,051 4,773
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 3,540 1,020
Other debtors 440 360
_______ _______
3,980 1,380
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 6,666 1,844
Corporation tax 4,960 4,688
Social security and other taxes 5,252 2,082
Other creditors 2,145 2,092
_______ _______
19,023 10,706
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr N B Jackson ( 271) 17 ( 254)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr N B Jackson ( 270) ( 1) ( 271)
_______ _______ _______