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AEM PLUMBING & HEATING SERVICES LIMITED

Registered Number
07635745
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

AEM PLUMBING & HEATING SERVICES LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

TAYLOR, Peter Adrian

Registered Address

94a Blackburn Avenue
Wolverhampton
WV6 9LQ

Registered Number

07635745 (England and Wales)
AEM PLUMBING & HEATING SERVICES LIMITED
Statement of Financial Position
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets338,822-
38,822-
Current assets
Stocks4400400
Debtors58,13026,780
Cash at bank and on hand30,44324,870
38,97352,050
Creditors amounts falling due within one year6(25,619)(12,097)
Net current assets (liabilities)13,35439,953
Total assets less current liabilities52,17639,953
Provisions for liabilities7(7,400)-
Net assets44,77639,953
Capital and reserves
Called up share capital100100
Profit and loss account44,67639,853
Shareholders' funds44,77639,953
The financial statements were approved and authorised for issue by the Director on 4 December 2024, and are signed on its behalf by:
TAYLOR, Peter Adrian
Director
Registered Company No. 07635745
AEM PLUMBING & HEATING SERVICES LIMITED
Notes to the Financial Statements
for the year ended 31 May 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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
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)
Plant and machinery25
Fixtures and fittings25
Vehicles25
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 year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 June 2390017,6536,32024,873
Additions-45,450-45,450
Disposals-(17,653)-(17,653)
At 31 May 2490045,4506,32052,670
Depreciation and impairment
At 01 June 2390017,6536,32024,873
Charge for year-6,628-6,628
On disposals-(17,653)-(17,653)
At 31 May 249006,6286,32013,848
Net book value
At 31 May 24-38,822-38,822
At 31 May 23----
4.Stocks

2024

2023

££
Other stocks400400
Total400400
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-6,950
Other debtors8,13019,830
Total8,13026,780
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables383-
Taxation and social security5709,036
Other creditors24,6663,061
Total25,61912,097
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)7,400-
Total7,400-