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FLOWMASTER PLUMBING & DRAINAGE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 OCTOBER 2023






FLOWMASTER PLUMBING & DRAINAGE LIMITED (REGISTERED NUMBER: 08263046)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FLOWMASTER PLUMBING & DRAINAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 OCTOBER 2023







DIRECTOR: D J J O'Hara





REGISTERED OFFICE: Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY





REGISTERED NUMBER: 08263046 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

FLOWMASTER PLUMBING & DRAINAGE LIMITED (REGISTERED NUMBER: 08263046)

BALANCE SHEET
30 OCTOBER 2023

30.10.23 30.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 100,370 84,977

CURRENT ASSETS
Stocks 5 1,316 12,460
Debtors 6 72,836 74,764
Cash at bank and in hand 39,445 35,793
113,597 123,017
CREDITORS
Amounts falling due within one year 7 165,499 139,786
NET CURRENT LIABILITIES (51,902 ) (16,769 )
TOTAL ASSETS LESS CURRENT LIABILITIES 48,468 68,208

CREDITORS
Amounts falling due after more than one
year

8

(26,977

)

(40,208

)

PROVISIONS FOR LIABILITIES 9 (18,635 ) (16,205 )
NET ASSETS 2,856 11,795

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 2,855 11,794
SHAREHOLDERS' FUNDS 2,856 11,795

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FLOWMASTER PLUMBING & DRAINAGE LIMITED (REGISTERED NUMBER: 08263046)

BALANCE SHEET - continued
30 OCTOBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 February 2025 and were signed by:





D J J O'Hara - Director


FLOWMASTER PLUMBING & DRAINAGE LIMITED (REGISTERED NUMBER: 08263046)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2023


1. STATUTORY INFORMATION

Flowmaster Plumbing & Drainage Limited 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Current or deferred taxation assets and liabilities are not discounted.

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.

FLOWMASTER PLUMBING & DRAINAGE LIMITED (REGISTERED NUMBER: 08263046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 OCTOBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 31 October 2022 82,019 4,470 65,747 6,696 158,932
Additions 43,599 - - - 43,599
At 30 October 2023 125,618 4,470 65,747 6,696 202,531
DEPRECIATION
At 31 October 2022 52,045 1,001 15,311 5,598 73,955
Charge for year 14,715 520 12,609 362 28,206
At 30 October 2023 66,760 1,521 27,920 5,960 102,161
NET BOOK VALUE
At 30 October 2023 58,858 2,949 37,827 736 100,370
At 30 October 2022 29,974 3,469 50,436 1,098 84,977

The net book value of tangible fixed assets includes £ 16,438 (2022 - £ 21,917 ) in respect of assets held under hire purchase contracts.

5. STOCKS
30.10.23 30.10.22
£    £   
Stocks 1,316 12,460

FLOWMASTER PLUMBING & DRAINAGE LIMITED (REGISTERED NUMBER: 08263046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 OCTOBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.10.23 30.10.22
£    £   
Trade debtors 4,243 14,419
Other debtors 14,197 14,197
Directors' current accounts 54,396 46,148
72,836 74,764

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.10.23 30.10.22
£    £   
Bank loans and overdrafts 9,996 9,996
Hire purchase contracts 3,247 3,248
Trade creditors 5,326 3,910
Tax 28,468 26,414
Social security and other taxes 1,309 201
VAT 110,552 92,862
Other creditors 2,629 -
Accrued expenses 3,972 3,155
165,499 139,786

The director's loan accounts is interest free and repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.10.23 30.10.22
£    £   
Bank loans - 1-2 years 9,924 19,991
Bank loans - 2-5 years 7,580 7,497
Hire purchase contracts 9,473 12,720
26,977 40,208

9. PROVISIONS FOR LIABILITIES
30.10.23 30.10.22
£    £   
Deferred tax 18,635 16,205

Deferred
tax
£   
Balance at 31 October 2022 16,205
Accelerated capital allowances 2,430
Balance at 30 October 2023 18,635

The entire provision for Deferred Taxation is in respect of accelerated capital allowances.

FLOWMASTER PLUMBING & DRAINAGE LIMITED (REGISTERED NUMBER: 08263046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 OCTOBER 2023


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.10.23 30.10.22
value: £    £   
1 Ordinary £1.00 1 1

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 October 2023 and the period ended 30 October 2022:

30.10.23 30.10.22
£    £   
D J J O'Hara
Balance outstanding at start of year 46,148 41,163
Amounts advanced 62,455 50,549
Amounts repaid (54,208 ) (45,564 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 54,395 46,148

The overdrawn director's loan account was cleared in full by dividends paid during the period up to 31st July 2024.