Company registration number 09329991 (England and Wales)
BMA Plumbing & Heating Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 October 2024
PAGES FOR FILING WITH REGISTRAR
BMA Plumbing & Heating Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
BMA Plumbing & Heating Ltd
Statement of financial position
as at 31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
53,252
8,581
Current assets
Debtors
4
36,439
38,123
Cash at bank and in hand
59,077
79,829
95,516
117,952
Creditors: amounts falling due within one year
5
(25,142)
(27,193)
Net current assets
70,374
90,759
Total assets less current liabilities
123,626
99,340
Creditors: amounts falling due after more than one year
6
(39,865)
(4,503)
Net assets
83,761
94,837
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
83,661
94,737
Total equity
83,761
94,837
For the financial year ended 31 October 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 of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 22 January 2025
B M Ayrton
Director
Company registration number 09329991 (England and Wales)
BMA Plumbing & Heating Ltd
Notes to the financial statements
for the year ended 31 October 2024
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Turnover is recognised upon completion of services.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
BMA Plumbing & Heating Ltd
Notes to the financial statements (continued)
for the year ended 31 October 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Motor vehicles
£
Cost
At 1 November 2023
20,975
Additions
56,180
At 31 October 2024
77,155
Depreciation and impairment
At 1 November 2023
12,394
Depreciation charged in the year
11,509
At 31 October 2024
23,903
Carrying amount
At 31 October 2024
53,252
At 31 October 2023
8,581
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
5,216
9,544
Corporation tax recoverable
2,564
Other debtors
28,500
28,500
Prepayments and accrued income
159
79
36,439
38,123
BMA Plumbing & Heating Ltd
Notes to the financial statements (continued)
for the year ended 31 October 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
7,399
Trade creditors
6,400
5,705
Corporation tax
13,488
Other taxation and social security
2,853
5,692
Other creditors
264
927
Accruals and deferred income
8,226
1,381
25,142
27,193
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
39,865
4,503
7
Company information
BMA Plumbing & Heating Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 30 Heathmoor Park Road, Illingworth, Halifax, HX2 9LR.