Registered number
03767284
Tv Plumbing and Mechanical Services Limited
Filleted Accounts
31 May 2024
Tv Plumbing and Mechanical Services Limited
Registered number: 03767284
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 14,743 25,673
Current assets
Debtors 4 404,100 308,340
Cash at bank and in hand - 94,086
404,100 402,426
Creditors: amounts falling due within one year 5 (125,141) (98,507)
Net current assets 278,959 303,919
Total assets less current liabilities 293,702 329,592
Creditors: amounts falling due after more than one year 6 (13,313) (22,269)
Provisions for liabilities (2,775) (132)
Net assets 277,614 307,191
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 276,614 306,191
Shareholders' funds 277,614 307,191
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr AC Barrett.
Director
Approved by the board on 21 February 2025
Tv Plumbing and Mechanical Services Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
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).
Turnover
Turnover represents the value, net of value added tax and discount of work carried out in respect of services provided to customers. Turnover is recognised when payment becomes unconditional and includes accrued income that straddled into the following accounting period. Where recovery is deemed uncertain a provision for bad debts has been made.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment & Tools. 25% reducing balance
Motor vehicles 33.33% SL
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Equipment Tools Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 10,235 4,418 35,532 50,185
Additions 2,109 - - 2,109
At 31 May 2024 12,344 4,418 35,532 52,294
Depreciation
At 1 June 2023 8,450 4,218 11,844 24,512
Charge for the year 1,195 - 11,844 13,039
At 31 May 2024 9,645 4,218 23,688 37,551
Net book value
At 31 May 2024 2,699 200 11,844 14,743
At 31 May 2023 1,785 200 23,688 25,673
4 Debtors 2024 2023
£ £
Trade debtors 178,790 205,631
Accrued Income. 150,000 -
Other debtors 75,310 102,709
404,100 308,340
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 35,756 12,579
Trade creditors 36,783 30,510
Directors Loan Account. 8,263 -
Taxation and social security costs 20,771 18,727
Other creditors 23,568 36,691
125,141 98,507
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,313 22,269
7 Other information
Tv Plumbing and Mechanical Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
66 Dartmouth Road
Ruislip, Middlesex,
HA4 0DE
8 Charge
A charge against the company's deposits was registered by its bankers on 23.01.2020 .
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