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Registration number: 10236241

Paul Rabey Plumbing & Heating Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Paul Rabey Plumbing & Heating Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Paul Rabey Plumbing & Heating Ltd

Company Information

Directors

Paul Rabey

Christine Rabey

Registered office

32 Atlantic Way
Porthtowan
Truro
Cornwall
TR4 8AH

Accountants

Julia Evans Accountants Ltd 79-81 Boslowick Road
Falmouth
Cornwall
TR11 4QD

 

Paul Rabey Plumbing & Heating Ltd

(Registration number: 10236241)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,137

2,852

Current assets

 

Stocks

3,030

3,438

Debtors

5

12,529

11,601

Cash at bank and in hand

 

65,607

61,227

 

81,166

76,266

Creditors: Amounts falling due within one year

6

(30,911)

(35,145)

Net current assets

 

50,255

41,121

Total assets less current liabilities

 

52,392

43,973

Provisions for liabilities

(406)

(541)

Net assets

 

51,986

43,432

Capital and reserves

 

Called up share capital

7

10

10

Retained earnings

51,976

43,422

Shareholders' funds

 

51,986

43,432

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Paul Rabey Plumbing & Heating Ltd

(Registration number: 10236241)
Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 13 March 2025 and signed on its behalf by:
 

.........................................
Paul Rabey
Director

.........................................
Christine Rabey
Director

 

Paul Rabey Plumbing & Heating Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
32 Atlantic Way
Porthtowan
Truro
Cornwall
TR4 8AH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales returns, rebates and discounts.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period,

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

 

Paul Rabey Plumbing & Heating Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Motor vehicles

25% reducing balance

Plant and equipment

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Paul Rabey Plumbing & Heating Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

474

7,600

2,660

10,734

At 30 June 2024

474

7,600

2,660

10,734

Depreciation

At 1 July 2023

324

6,247

1,311

7,882

Charge for the year

38

339

338

715

At 30 June 2024

362

6,586

1,649

8,597

Carrying amount

At 30 June 2024

112

1,014

1,011

2,137

At 30 June 2023

150

1,353

1,349

2,852

5

Debtors

Current

2024
£

2023
£

Trade debtors

8,704

7,975

Prepayments

3,825

3,626

 

12,529

11,601

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,216

3,233

Taxation and social security

4,488

4,740

Accruals and deferred income

895

860

Other creditors

24,312

26,312

30,911

35,145

 

Paul Rabey Plumbing & Heating Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

10

10

10

10