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STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTORS: C Hodgson
A J Burnett
J D Porter





REGISTERED OFFICE: Shacklock House
Brierley Industrial Park
Brierley Park Close
Stanton Hill
Nottinghamshire
NG17 3FW





REGISTERED NUMBER: 00929449 (England and Wales)





AUDITORS: Hewitt Card Limited
Statutory Auditors
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

STRATEGIC REPORT
for the year ended 30 June 2024

The directors present their strategic report for the year ended 30 June 2024.

Our objectives are to provide a reliable, competitive and quality plumbing and electrical service to the construction industry. We have become one of the largest suppliers of this service in the East Midlands due to specialist knowledge and expertise built up over 50 years. We continually aim to improve and develop our skills, services and compliance to satisfy our customer's needs.

REVIEW OF BUSINESS
The directors are pleased with the overall performance of the business for the year, seeing a substantial increase in turnover whilst maintain the company's gross profit margin.

The focus to improve the current position has proved particularly relevant given the situation with supply chain issues. The company has managed funds and resources prudently throughout and has taken advantage of opportunities as they have arisen.

Whilst there has been a reduction in net assets and thus shareholders' funds, the directors are confident that these levels will be built back up in the coming year.

The directors are confident that trading levels will be maintained at a similar level with the same importance placed on continuing to ensure profitability is kept at a high level. The company is continuing to identify and tender for opportunities in the sector.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors have assessed the risks facing the company and we recognize, in particular, the threat from competition, labour shortages, material inflation and the wider political and economic conditions. The board are focused on mitigating these risks and is continually monitoring and adjusting to maintain and strengthen its position.

ON BEHALF OF THE BOARD:





C Hodgson - Director


8 November 2024

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

REPORT OF THE DIRECTORS
for the year ended 30 June 2024

The directors present their report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of plumbing, heating and electrical engineers.

DIVIDENDS
Interim dividends per share were paid as follows:
£1,075.47 - 31 July 2023
£144.00 - 31 August 2023
£144.00 - 30 September 2023
£288.00 - 31 October 2023
£1,208.00 - 30 November 2023
£152.00 - 31 December 2023
£36.00 - 31 January 2024
£0.00 - 29 February 2024
£40.00 - 31 March 2024
£369.33 - 30 April 2024
£711.41 - 31 May 2024
£444.59 - 30 June 2024
£4,612.80

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30 June 2024 will be £3,459,600.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

C Hodgson
A J Burnett
J D Porter

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

REPORT OF THE DIRECTORS
for the year ended 30 June 2024


AUDITORS
The auditors, Hewitt Card Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C Hodgson - Director


8 November 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED

Opinion
We have audited the financial statements of Neil Shacklock Plumbing and Heating Contractors Limited (the 'company') for the year ended 30 June 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have adopted a risk based approach based upon analytical procedures and knowledge of the clients systems and environment it operates in.

This enables us to design and perform audit procedures responsive to those risks; and obtain audit evidence that is sufficient and appropriate to provide a basis for the audit opinion.
To obtain an understanding of internal control where relevant to the audit to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the companys internal control.
To evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
To conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern.

The likelihood of detecting irregularities is inherently difficult and we have designed our tests and procedures to reduce this risk.
- We have enquired of management and the company's solicitors around actual and potential litigation and claims.
- Review of company minutes of meetings of those charged with governance.
- Reviewing financial statements disclosure and testing supporting documentation to assess compliance with applicable laws and regulations
- Review and testing of management override of controls, including through testing journal entries and other adjustments for appropriateness and evaluating the business rationale of significant transactions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




James Timothy Card FCCA (Senior Statutory Auditor)
for and on behalf of Hewitt Card Limited
Statutory Auditors
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

8 November 2024

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

STATEMENT OF COMPREHENSIVE
INCOME
for the year ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

TURNOVER 4 21,138,211 22,319,641

Cost of sales 16,283,256 17,630,368
GROSS PROFIT 4,854,955 4,689,273

Administrative expenses 1,897,989 2,023,044
OPERATING PROFIT 7 2,956,966 2,666,229

Interest receivable and similar income 1,177 73
2,958,143 2,666,302

Interest payable and similar expenses 8 937 937
PROFIT BEFORE TAXATION 2,957,206 2,665,365

Tax on profit 9 707,962 501,833
PROFIT FOR THE FINANCIAL YEAR 2,249,244 2,163,532

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

2,249,244

2,163,532

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

BALANCE SHEET
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 11 28,320 41,761

CURRENT ASSETS
Stocks 12 466,213 460,308
Debtors 13 3,680,623 4,013,025
Cash at bank and in hand 1,104,929 2,110,125
5,251,765 6,583,458
CREDITORS
Amounts falling due within one year 14 4,148,364 4,273,859
NET CURRENT ASSETS 1,103,401 2,309,599
TOTAL ASSETS LESS CURRENT LIABILITIES 1,131,721 2,351,360

CREDITORS
Amounts falling due after more than one year 15 (5,102 ) (11,225 )

PROVISIONS FOR LIABILITIES 17 (6,168 ) (9,328 )
NET ASSETS 1,120,451 2,330,807

CAPITAL AND RESERVES
Called up share capital 18 750 750
Capital redemption reserve 150 150
Retained earnings 1,119,551 2,329,907
SHAREHOLDERS' FUNDS 1,120,451 2,330,807

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2024 and were signed on its behalf by:




C Hodgson - Director



A J Burnett - Director


NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

STATEMENT OF CHANGES IN EQUITY
for the year ended 30 June 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 July 2022 750 1,509,725 150 1,510,625

Changes in equity
Dividends - (1,343,350 ) - (1,343,350 )
Total comprehensive income - 2,163,532 - 2,163,532
Balance at 30 June 2023 750 2,329,907 150 2,330,807

Changes in equity
Dividends - (3,459,600 ) - (3,459,600 )
Total comprehensive income - 2,249,244 - 2,249,244
Balance at 30 June 2024 750 1,119,551 150 1,120,451

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

CASH FLOW STATEMENT
for the year ended 30 June 2024

30.6.24 30.6.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,966,276 3,581,843
Interest element of hire purchase payments
paid

(937

)

(937

)
Tax paid (504,506 ) (515,536 )
Net cash from operating activities 2,460,833 3,065,370

Cash flows from investing activities
Purchase of tangible fixed assets (1,233 ) (18,711 )
Sale of tangible fixed assets - 1
Interest received 1,177 73
Net cash from investing activities (56 ) (18,637 )

Cash flows from financing activities
Capital repayments in year (6,123 ) (6,122 )
Amounts (to/from) related parties (250 ) -
Equity dividends paid (3,459,600 ) (1,343,350 )
Net cash from financing activities (3,465,973 ) (1,349,472 )

(Decrease)/increase in cash and cash equivalents (1,005,196 ) 1,697,261
Cash and cash equivalents at beginning of
year

2

2,110,125

412,864

Cash and cash equivalents at end of year 2 1,104,929 2,110,125

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

NOTES TO THE CASH FLOW STATEMENT
for the year ended 30 June 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

30.6.24 30.6.23
£    £   
Profit before taxation 2,957,206 2,665,365
Depreciation charges 14,661 14,780
Loss on disposal of fixed assets 11 3,121
Finance costs 937 937
Finance income (1,177 ) (73 )
2,971,638 2,684,130
Increase in stocks (5,905 ) (25,931 )
Decrease in trade and other debtors 332,652 122,729
(Decrease)/increase in trade and other creditors (332,109 ) 800,915
Cash generated from operations 2,966,276 3,581,843

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 1,104,929 2,110,125
Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 2,110,125 412,864


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank and in hand 2,110,125 (1,005,196 ) 1,104,929
2,110,125 (1,005,196 ) 1,104,929
Debt
Finance leases (17,348 ) 6,123 (11,225 )
(17,348 ) 6,123 (11,225 )
Total 2,092,777 (999,073 ) 1,093,704

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Neil Shacklock Plumbing and Heating Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements of the company are consolidated in the financial statements of FDBC Holdings Limited. The consolidated financial statements of FDBC Holdings Limited are available from the registered office, Shacklock House, Brierley Industrial Park, Brierley Park Close, Stanton Hill, Nottinghamshire, NG17 3FW.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.

Sale of goods
Turnover from the sale of goods is recognised when;
- the significant risks and rewards of ownership of the goods has transferred to the buyer
- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold
- the amount of turnover can be measured reliably
- it is probable that the economic benefits associated with the transaction will flow to the company
- the costs incurred or to be incurred in respect of the transaction can be measured reliably

Rendering of services
Turnover from a contract to provide services is recognised in the period by reference to the stage of completion of the contract when all of the following conditions are satisfied;
- the amount of turnover can be measured reliably
- it is probable that the economic benefits associated with the services will flow to the company
- the stage of completion of the contract at the reporting date can be measured reliably
- the costs incurred and the costs to complete the contract can be measured reliably

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost and Straight line over 3 years
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the
cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial instruments
The Company classifies financial instruments, or their component parts, on initial recognition as financial assets, financial liabilities or equity instruments according to the substance of the contractual arrangements entered into.

An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

Financial assets
Financial assets are classified on initial recognition in the following categories: loans and receivables; held at fair value through profit and loss and available for sale. The classification depends upon the purpose for which the assets were acquired.

Financial assets at fair value through the profit and loss include derivatives classified as held for trading. Derivatives, which can be a financial asset or financial liability are initially recognised at fair value and are subsequently re-measured at fair value. The method of recognising the gain or loss depends upon whether the derivative is designated as a hedging instrument and the nature of the hedge arrangement. The Company currently has no hedge arrangements and the gain or loss is recognised in profit or loss in administrative expenses.

Financial liabilities
Financial liabilities are classified on initial recognition as either other financial liabilities measured at amortised cost or at fair value through profit or loss.


NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. 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 equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The company also participates in a defined benefit multi employer scheme. Contributions payable to the pension scheme are charged to profit and loss in the period to which they relate. The assets of the plan are held separately from the Company in independently administered funds.

4. TURNOVER

The turnover and profit before taxation are attributable to the principal activity of the company.

5. EMPLOYEES AND DIRECTORS
30.6.24 30.6.23
£    £   
Wages and salaries 4,969,959 5,280,252
Social security costs 497,179 576,132
Other pension costs 110,555 159,679
5,577,693 6,016,063

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

5. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
30.6.24 30.6.23

Direct labour and supervision 92 97
Administrative 27 26
Directors 3 3
122 126

6. DIRECTORS' EMOLUMENTS
30.6.24 30.6.23
£    £   
Directors' remuneration 37,582 38,096
Directors' pension contributions to money purchase schemes 6,972 6,413

7. OPERATING PROFIT

The operating profit is stated after charging:

30.6.24 30.6.23
£    £   
Other operating leases 409,814 413,313
Depreciation - owned assets 10,217 8,852
Depreciation - assets on hire purchase contracts 4,446 5,928
Loss on disposal of fixed assets 11 3,121
Auditors' remuneration 15,000 13,550

8. INTEREST PAYABLE AND SIMILAR EXPENSES
30.6.24 30.6.23
£    £   
Hire purchase 937 937

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.6.24 30.6.23
£    £   
Current tax:
UK corporation tax 711,122 504,375
Tax in respect of
previous year - (5,121 )
Total current tax 711,122 499,254

Deferred tax:
Origination and reversal
of timing differences (3,160 ) 2,579
Tax on profit 707,962 501,833

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

9. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

30.6.24 30.6.23
£    £   
Profit before tax 2,957,206 2,665,365
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 20.496%)

739,302

546,293

Effects of:
Expenses not deductible for tax purposes 6,364 22,913
Capital allowances in excess of depreciation - (1,695 )
Depreciation in excess of capital allowances 3,158 -
Adjustments to tax charge in respect of previous periods - (5,124 )
Deferred tax movement (3,160 ) 2,579

Group relief (37,702 ) (63,133 )
Total tax charge 707,962 501,833

10. DIVIDENDS
30.6.24 30.6.23
£    £   
Ordinary shares of £1 each
Interim 3,459,600 1,343,350

11. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 17,997 23,360 24,835 22,328 88,520
Additions - 650 - 583 1,233
Disposals (2,476 ) (2,519 ) - (1,148 ) (6,143 )
At 30 June 2024 15,521 21,491 24,835 21,763 83,610
DEPRECIATION
At 1 July 2023 17,187 16,542 7,051 5,979 46,759
Charge for year 761 2,175 4,446 7,281 14,663
Eliminated on disposal (2,470 ) (2,517 ) - (1,145 ) (6,132 )
At 30 June 2024 15,478 16,200 11,497 12,115 55,290
NET BOOK VALUE
At 30 June 2024 43 5,291 13,338 9,648 28,320
At 30 June 2023 810 6,818 17,784 16,349 41,761

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

11. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023
and 30 June 2024 24,835
DEPRECIATION
At 1 July 2023 7,051
Charge for year 4,446
At 30 June 2024 11,497
NET BOOK VALUE
At 30 June 2024 13,338
At 30 June 2023 17,784

12. STOCKS
30.6.24 30.6.23
£    £   
Raw materials 466,213 460,308

13. DEBTORS
30.6.24 30.6.23
£    £   
Amounts falling due within one year:
Trade debtors 3,151,671 3,418,167
Amounts owed by group undertakings 250 66,900
VAT 170,772 183,100
3,322,693 3,668,167

Amounts falling due after more than one year:
Trade debtors 357,930 344,858

Aggregate amounts 3,680,623 4,013,025

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts (see note 16) 6,123 6,123
Trade creditors 3,253,729 3,529,967
Tax 419,319 212,703
Social security and other taxes 172,087 201,046
Other creditors 75,486 81,919
Accruals and deferred income 221,620 242,101
4,148,364 4,273,859

Included within creditors is a provision for costs of any potential rectification works which may arise in respect of work to date. The provision is based on the Directors' best estimate, using historic and current data.

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts (see note 16) 5,102 11,225

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.6.24 30.6.23
£    £   
Net obligations repayable:
Within one year 6,123 6,123
Between one and five years 5,102 11,225
11,225 17,348

Non-cancellable operating leases
30.6.24 30.6.23
£    £   
Within one year 420,836 302,013
Between one and five years 543,428 871,051
964,264 1,173,064

17. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 6,168 9,328

Deferred
tax
£   
Balance at 1 July 2023 9,328
Credit to Statement of Comprehensive Income during year (3,160 )
Balance at 30 June 2024 6,168

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
750 Ordinary £1 750 750

NEIL SHACKLOCK PLUMBING AND HEATING
CONTRACTORS LIMITED (REGISTERED NUMBER: 00929449)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

19. PENSION COMMITMENTS

The company participates in a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the funds and amounted to £110,555 (2023: £159,679) for the year.

The company participates in a defined benefit scheme, The Plumbing and Mechanical Services (UK) Industry Pension Scheme, which is a multi-employer scheme. As the company is unable to identify its share of scheme assets and liabilities, as permitted by FRS102, the scheme is accounted for as a defined contribution scheme. The pension cost charge represents contributions payable by the company to the fund and amounted to £nil (2023: £nil) for the year. As a participating employer, the company shares a collective responsibility with all other participating employers of the scheme for the funding of the overall scheme and any ultimate funding shortfall. The scheme closed to new accrual on 30th June 2019 therefore limiting further exposure to any potential future losses. The results from the latest formal actuarial valuation as at 5 April 2020, showed that the scheme had 99% of the assets to meet its "Technical Provisions" (liabilities). No additional funding has been required or provided for in these accounts.

20. ULTIMATE PARENT COMPANY

FDBC Holdings Limited is regarded by the directors as being the company's ultimate parent company.

The registered address of FDBC Holdings limited is Shacklock House, Brierley Industrial Park, Brierley Park Close, Stanton Hill, Nottinghamshire, NG17 3FW.

21. CONTINGENT LIABILITIES

The group has bank facilities that are secured by a mortgage debenture covering all the assets of the company together with an unlimited cross company guarantee with fellow group companies SPHE Limited, SPHE Holdings Limited and FDBC Holdings Limited.

22. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.