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REGISTERED NUMBER: 09056372 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

PAUL FARRELL PLUMBING & HEATING LTD

PAUL FARRELL PLUMBING & HEATING LTD (REGISTERED NUMBER: 09056372)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PAUL FARRELL PLUMBING & HEATING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr P D Farrell
Mrs S Farrell





REGISTERED OFFICE: Hillside
Albion Street
Chipping Norton
Oxfordshire
OX7 5BH





BUSINESS ADDRESS: 30 Maugersbury Park
Stow-On-The-Wold
CHELTENHAM
Gloucestershire
GL54 1DU





REGISTERED NUMBER: 09056372 (England and Wales)





ACCOUNTANTS: Bronsens
Chartered Certified Accountants
Hillside
Albion Street
Chipping Norton
Oxfordshire
OX7 5BH

PAUL FARRELL PLUMBING & HEATING LTD (REGISTERED NUMBER: 09056372)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 12,900 1,173
12,900 1,173

CURRENT ASSETS
Stocks 7,474 7,512
Debtors 6 250 3,007
Cash at bank 19,645 31,098
27,369 41,617
CREDITORS
Amounts falling due within one year 7 13,068 16,995
NET CURRENT ASSETS 14,301 24,622
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,201

25,795

PROVISIONS FOR LIABILITIES 2,451 223
NET ASSETS 24,750 25,572

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 24,650 25,472
SHAREHOLDERS' FUNDS 24,750 25,572

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PAUL FARRELL PLUMBING & HEATING LTD (REGISTERED NUMBER: 09056372)

BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2025 and were signed on its behalf by:





Mr P D Farrell - Director


PAUL FARRELL PLUMBING & HEATING LTD (REGISTERED NUMBER: 09056372)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Paul Farrell Plumbing & Heating Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents invoices issued for work carried out net of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, has been fully amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

PAUL FARRELL PLUMBING & HEATING LTD (REGISTERED NUMBER: 09056372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 20,000
AMORTISATION
At 1 June 2023
and 31 May 2024 20,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 376 - 1,714 2,090
Additions - 16,000 458 16,458
At 31 May 2024 376 16,000 2,172 18,548
DEPRECIATION
At 1 June 2023 346 - 571 917
Charge for year 7 4,000 724 4,731
At 31 May 2024 353 4,000 1,295 5,648
NET BOOK VALUE
At 31 May 2024 23 12,000 877 12,900
At 31 May 2023 30 - 1,143 1,173

PAUL FARRELL PLUMBING & HEATING LTD (REGISTERED NUMBER: 09056372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 210 3,007
VAT 40 -
250 3,007

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 6,989 4,468
Tax 3,443 7,546
Social security and other taxes 36 34
VAT - 1,808
Directors' current accounts 220 304
Accrued expenses 2,380 2,835
13,068 16,995

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
60 Ordinary A £1 60 60
40 Ordinary B £1 40 40
100 100