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Freeflow Plumbing Ltd

Registered Number
13430277
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

Freeflow Plumbing Ltd
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

Lyth, Sam

Registered Address

21 Griffin Drive
Hessle
HU13 0UA

Registered Number

13430277 (England and Wales)
Freeflow Plumbing Ltd
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3309112
309112
Current assets
Stocks7,919-
Debtors49,4007,117
Cash at bank and on hand3,1787,256
20,49714,373
Creditors amounts falling due within one year5(18,470)(12,318)
Net current assets (liabilities)2,0272,055
Total assets less current liabilities2,3362,167
Provisions for liabilities(58)(21)
Net assets2,2782,146
Capital and reserves
Called up share capital100100
Profit and loss account2,1782,046
Shareholders' funds2,2782,146
The financial statements were approved and authorised for issue by the Director on 18 January 2025, and are signed on its behalf by:
Lyth, Sam
Director
Registered Company No. 13430277
Freeflow Plumbing Ltd
Notes to the Financial Statements
for the year ended 30 June 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised once the service has been completed and where it is virtually certain that payment will be received.
Current taxation
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
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
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
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 year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 23200
Additions300
At 30 June 24500
Depreciation and impairment
At 01 July 2388
Charge for year103
At 30 June 24191
Net book value
At 30 June 24309
At 30 June 23112
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables6,648760
Other debtors2,6046,297
Prepayments and accrued income14860
Total9,4007,117
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables5,808-
Taxation and social security6,2127,236
Other creditors5,3804,261
Accrued liabilities and deferred income1,070821
Total18,47012,318
6.Related party transactions
At the balance sheet date, the company owed £5,030 (2023 - £3,974) to members of key management personnel. The loan is unsecured, interest free and repayable on demand. The loan is presented within creditors due within one year.