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FH HEATING AND PLUMBING LTD

Registered Number
11999786
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

FH HEATING AND PLUMBING LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

HOARE, Freddie Laurence
VALENTINE, Amy Lydia

Company Secretary

VALENTINE, Amy

Registered Address

Flexi Offices Flexi Offices
Big Yellow Storage, Office 1
Portsmouth
PO4 8BF

Registered Number

11999786 (England and Wales)
FH HEATING AND PLUMBING LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Called up share capital not paid1010
Fixed assets
Tangible assets323,1704,354
23,1704,354
Current assets
Debtors4,5143,85683,775
Cash at bank and on hand94,91131,079
238,767114,854
Creditors amounts falling due within one year6(204,789)(86,674)
Net current assets (liabilities)33,98828,190
Total assets less current liabilities57,15832,544
Creditors amounts falling due after one year7(50,820)(32,422)
Provisions for liabilities9(5,547)-
Net assets791122
Capital and reserves
Called up share capital1010
Profit and loss account781112
Shareholders' funds791122
The financial statements were approved and authorised for issue by the Board of Directors on 25 February 2025, and are signed on its behalf by:
HOARE, Freddie Laurence
Director
Registered Company No. 11999786
FH HEATING AND PLUMBING LTD
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).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
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:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Vehicles20
Office Equipment20
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year70
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 June 234,473-7755,248
Additions-17,9803,34821,328
At 31 May 244,47317,9804,12326,576
Depreciation and impairment
At 01 June 23674-220894
Charge for year7601,3494032,512
At 31 May 241,4341,3496233,406
Net book value
At 31 May 243,03916,6313,50023,170
At 31 May 233,799-5554,354
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables104,32277,833
Other debtors37,7864,945
Prepayments and accrued income1,748997
Total143,85683,775
5.Debtors: amounts due after one year
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables192,00171,414
Bank borrowings and overdrafts-849
Taxation and social security6,74714,411
Finance lease and HP contracts5,987-
Accrued liabilities and deferred income54-
Total204,78986,674
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts50,82032,422
Total50,82032,422
8.Obligations under finance leases
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)5,547-
Total5,547-