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Reeves Plumbing & Building Ltd

Registered Number
15083334
(England and Wales)

Unaudited Financial Statements for the Period ended
31 August 2024

Reeves Plumbing & Building Ltd
Company Information
for the period from 19 August 2023 to 31 August 2024

Director

Jack Reeves

Registered Address

12 Prestongate
Hessle
HU13 0RE

Registered Number

15083334 (England and Wales)
Reeves Plumbing & Building Ltd
Statement of Financial Position
31 August 2024

Notes

2024

£

£

Fixed assets
Tangible assets33,527
3,527
Current assets
Debtors45,937
Cash at bank and on hand917
6,854
Creditors amounts falling due within one year5(9,616)
Net current assets (liabilities)(2,762)
Total assets less current liabilities765
Provisions for liabilities6(670)
Net assets95
Capital and reserves
Called up share capital5
Profit and loss account90
Shareholders' funds95
The financial statements were approved and authorised for issue by the Director on 23 January 2025, and are signed on its behalf by:
Jack Reeves
Director
Registered Company No. 15083334
Reeves Plumbing & Building Ltd
Notes to the Financial Statements
for the period ended 31 August 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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.
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
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Vehicles4
Office Equipment4
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.
Trade and other 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.
Trade and other 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.
2.Average number of employees

2024
Average number of employees during the year1
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
Additions3,7508624,612
At 31 August 243,7508624,612
Depreciation and impairment
Charge for year9371481,085
At 31 August 249371481,085
Net book value
At 31 August 242,8137143,527
At 18 August 23---
4.Debtors: amounts due within one year

2024

£
Trade debtors / trade receivables4,302
Amounts owed by associates and joint ventures / participating interests622
Other debtors1,013
Total5,937
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

£
Bank borrowings and overdrafts1,071
Taxation and social security7,796
Accrued liabilities and deferred income749
Total9,616
6.Provisions for liabilities

2024

£
Net deferred tax liability (asset)670
Total670