AZ Plumbing Services Limited 12498062 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of plumbing services Digita Accounts Production Advanced 6.30.9574.0 true 12498062 2023-04-01 2024-03-31 12498062 2024-03-31 12498062 core:RetainedEarningsAccumulatedLosses 2024-03-31 12498062 core:ShareCapital 2024-03-31 12498062 core:CurrentFinancialInstruments 2024-03-31 12498062 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12498062 core:Goodwill 2024-03-31 12498062 core:FurnitureFittings 2024-03-31 12498062 core:MotorVehicles 2024-03-31 12498062 core:OtherPropertyPlantEquipment 2024-03-31 12498062 bus:SmallEntities 2023-04-01 2024-03-31 12498062 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12498062 bus:FilletedAccounts 2023-04-01 2024-03-31 12498062 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12498062 bus:RegisteredOffice 2023-04-01 2024-03-31 12498062 bus:Director1 2023-04-01 2024-03-31 12498062 bus:Director2 2023-04-01 2024-03-31 12498062 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 12498062 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12498062 bus:Agent1 2023-04-01 2024-03-31 12498062 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 12498062 core:ShareCapital 2023-04-01 2024-03-31 12498062 core:Goodwill 2023-04-01 2024-03-31 12498062 core:ComputerEquipment 2023-04-01 2024-03-31 12498062 core:FurnitureFittings 2023-04-01 2024-03-31 12498062 core:MotorVehicles 2023-04-01 2024-03-31 12498062 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 12498062 core:OtherVehicles 2023-04-01 2024-03-31 12498062 countries:EnglandWales 2023-04-01 2024-03-31 12498062 2023-03-31 12498062 core:RetainedEarningsAccumulatedLosses 2023-03-31 12498062 core:ShareCapital 2023-03-31 12498062 core:Goodwill 2023-03-31 12498062 core:FurnitureFittings 2023-03-31 12498062 core:MotorVehicles 2023-03-31 12498062 core:OtherPropertyPlantEquipment 2023-03-31 12498062 2022-04-01 2023-03-31 12498062 2023-03-31 12498062 core:CurrentFinancialInstruments 2023-03-31 12498062 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12498062 core:Goodwill 2023-03-31 12498062 core:FurnitureFittings 2023-03-31 12498062 core:MotorVehicles 2023-03-31 12498062 core:OtherPropertyPlantEquipment 2023-03-31 12498062 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 12498062 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 12498062 core:ShareCapital 2022-04-01 2023-03-31 12498062 2022-03-31 12498062 core:RetainedEarningsAccumulatedLosses 2022-03-31 12498062 core:ShareCapital 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 12498062

AZ Plumbing Services Limited

Annual Report and Unaudited Financial Statements

Pages for filing with the Registrar

For the Year Ended 31 March 2024

 

AZ Plumbing Services Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 12

 

AZ Plumbing Services Limited

Company Information

Directors

Mr A Chilcott

Mr Z Smith

Registered office

Unit 14, Riduna Park
Station Road
Melton
Woodbridge
Suffolk
IP12 1QT

Accountants

Oxlade & Bond Limited
Chartered Certified Accountants
Unit 14, Riduna Park
Station Road
Melton
Woodbridge
Suffolk
IP12 1QT

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
AZ Plumbing Services Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AZ Plumbing Services Limited for the year ended 31 March 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of AZ Plumbing Services Limited, as a body, in accordance with the terms of our engagement letter dated 16 January 2025. Our work has been undertaken solely to prepare for your approval the accounts of AZ Plumbing Services Limited and state those matters that we have agreed to state to the Board of Directors of AZ Plumbing Services Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AZ Plumbing Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AZ Plumbing Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AZ Plumbing Services Limited. You consider that AZ Plumbing Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of AZ Plumbing Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Oxlade & Bond Limited
Chartered Certified Accountants
Unit 14, Riduna Park
Station Road
Melton
Woodbridge
Suffolk
IP12 1QT

16 January 2025

 

AZ Plumbing Services Limited

(Registration number: 12498062)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

17,500

20,000

Tangible assets

5

18,243

22,710

 

35,743

42,710

Current assets

 

Stocks

6

1,995

1,850

Debtors

7

33,958

41,925

Cash at bank and in hand

 

63,700

63,130

 

99,653

106,905

Creditors: Amounts falling due within one year

8

(94,332)

(114,270)

Net current assets/(liabilities)

 

5,321

(7,365)

Total assets less current liabilities

 

41,064

35,345

Provisions for liabilities (deferred taxation)

(4,561)

(5,678)

Net assets

 

36,503

29,667

Capital and reserves

 

Called up share capital

100

100

Retained earnings

36,403

29,567

Shareholders' funds

 

36,503

29,667

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

AZ Plumbing Services Limited

(Registration number: 12498062)
Balance Sheet as at 31 March 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 January 2025 and signed on its behalf by:
 

.........................................
Mr Z Smith
Director

 

AZ Plumbing Services Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Called up share capital
£

Profit and loss account
£

Total equity
£

At 1 April 2023

100

29,567

29,667

Profit for the year

-

83,876

83,876

Total comprehensive income

-

83,876

83,876

Dividends

-

(77,040)

(77,040)

At 31 March 2024

100

36,403

36,503

Called up share capital
£

Profit and loss account
£

Total equity
£

At 1 April 2022

100

25,416

25,516

Profit for the year

-

78,651

78,651

Total comprehensive income

-

78,651

78,651

Dividends

-

(74,500)

(74,500)

At 31 March 2023

100

29,567

29,667

 

AZ Plumbing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 14, Riduna Park
Station Road
Melton
Woodbridge
Suffolk
IP12 1QT
United Kingdom

The principal place of business is:
Unit 9A, Upper Grove Farm
Rendham
Saxmundham
Suffolk
IP17 2AS

These financial statements were authorised for issue by the Board on 16 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in £ sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

 

AZ Plumbing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current corporation tax and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance basis

Fixtures and fittings

15% reducing balance basis

Computer and office equipment

write off costs over 3 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Goodwill relates to the amount paid in connection with the acquisition of the business on the 1st April 2021.

 

AZ Plumbing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

amortised over a period of 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Stocks relate to materials and items held at the balance sheet date which had not been utilised on customers work carried out at that date.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

 

AZ Plumbing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet 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.


3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

AZ Plumbing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost

At 1 April 2023

25,000

25,000

At 31 March 2024

25,000

25,000

Amortisation

At 1 April 2023

5,000

5,000

Amortisation charge

2,500

2,500

At 31 March 2024

7,500

7,500

Carrying amount

At 31 March 2024

17,500

17,500

At 31 March 2023

20,000

20,000

5

Tangible assets

Computer & office equipment
£

Motor vehicles
 £

Fixtures & fittings
£

Total
£

Cost

At 1 April 2023

3,105

27,500

4,849

35,454

Additions

249

-

1,398

1,647

At 31 March 2024

3,354

27,500

6,247

37,101

Depreciation

At 1 April 2023

1,848

9,925

971

12,744

Charge for the year

1,068

4,395

651

6,114

At 31 March 2024

2,916

14,320

1,622

18,858

Carrying amount

At 31 March 2024

438

13,180

4,625

18,243

At 31 March 2023

1,257

17,575

3,878

22,710

 

AZ Plumbing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Stocks

2024
£

2023
£

Other inventories

1,995

1,850

7

Debtors

2024
£

2023
£

Trade debtors

33,691

41,683

Prepayments

267

242

33,958

41,925

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

29,462

19,528

Taxation and social security

50,020

64,103

Accruals and deferred income

4,935

4,570

Other creditors

9,915

26,069

94,332

114,270

9

Reserves

The profit and loss reserves of the company are fully distributable.

 

AZ Plumbing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £770.40 (2023 - £745.00) per each ordinary shares

77,040

74,500

 

 

11

Related party transactions

Other transactions with directors

At the 31st March 2024 creditors due within one year includes the sum of £9,788 (2023 - £25,822) in respect of monies owed to the two directors.

The loan is repayable on demand and the directors do not charge the company interest on the loan made to the company.