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Registered number: 14027058
No Nonsense Plumbing Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14027058
30 April 2024 30 April 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,977 14,141
11,977 14,141
CURRENT ASSETS
Debtors 5 987 4,883
Cash at bank and in hand 147,907 76,480
148,894 81,363
Creditors: Amounts Falling Due Within One Year 6 (82,588 ) (80,010 )
NET CURRENT ASSETS (LIABILITIES) 66,306 1,353
TOTAL ASSETS LESS CURRENT LIABILITIES 78,283 15,494
NET ASSETS 78,283 15,494
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 78,183 15,394
SHAREHOLDERS' FUNDS 78,283 15,494
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Obahiagbon
Director
22/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
No Nonsense Plumbing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14027058 . The registered office is First Floor, Copper House,, 88 Snakes Lane East, Woodford Green, IG8 7HX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
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. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance Method
Motor Vehicles 20% Straight Line Method
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 May 2023 - 19,259 19,259
Additions 3,938 - 3,938
As at 30 April 2024 3,938 19,259 23,197
Depreciation
As at 1 May 2023 - 5,118 5,118
Provided during the period 984 5,118 6,102
As at 30 April 2024 984 10,236 11,220
Net Book Value
As at 30 April 2024 2,954 9,023 11,977
As at 1 May 2023 - 14,141 14,141
5. Debtors
30 April 2024 30 April 2023
£ £
Due within one year
Trade debtors 987 -
VAT - 4,883
987 4,883
6. Creditors: Amounts Falling Due Within One Year
30 April 2024 30 April 2023
£ £
Trade creditors 97 -
Corporation tax 18,316 15,376
VAT 9,038 -
Accruals and deferred income - 1,320
Director's loan account 55,137 63,314
82,588 80,010
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7. Share Capital
30 April 2024 30 April 2023
£ £
Allotted, Called up and fully paid 100 100
8. Directors Advances, Credits and Guarantees
During the year the company operated a director’s loan account.  As at the year end the amount due to a director from the company was £55,137.
The above loan is unsecured, interest free and repayable on demand.
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mr Michael Obahiagbon 63,314 - 8,177 - 55,137
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