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REGISTERED NUMBER: 10696869 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

LEE WRIGHT PLUMBING & HEATING LIMITED

LEE WRIGHT PLUMBING & HEATING LIMITED (REGISTERED NUMBER: 10696869)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEE WRIGHT PLUMBING & HEATING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTOR: L Wright



REGISTERED OFFICE: The Workshop
Adj Eaton House
Bottom Road
Summerhill
Wrexham
LL11 4TW



REGISTERED NUMBER: 10696869 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25 Grosvenor Road
Wrexham
LL11 1BT



BANKERS: Santander UK plc
Bridle Road
Bootle
L30 4GB

LEE WRIGHT PLUMBING & HEATING LIMITED (REGISTERED NUMBER: 10696869)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 146,619 170,782

CURRENT ASSETS
Stocks 5 180,087 310,199
Debtors 6 335,498 264,888
Cash at bank and in hand 259,762 107,795
775,347 682,882
CREDITORS
Amounts falling due within one year 7 415,151 362,796
NET CURRENT ASSETS 360,196 320,086
TOTAL ASSETS LESS CURRENT
LIABILITIES

506,815

490,868

CREDITORS
Amounts falling due after more than one
year

8

(33,710

)

(57,926

)

PROVISIONS FOR LIABILITIES 9 (34,156 ) (39,697 )
NET ASSETS 438,949 393,245

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 438,948 393,244
SHAREHOLDERS' FUNDS 438,949 393,245

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

LEE WRIGHT PLUMBING & HEATING LIMITED (REGISTERED NUMBER: 10696869)

BALANCE SHEET - continued
31ST MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20th January 2025 and were signed by:





L Wright - Director


LEE WRIGHT PLUMBING & HEATING LIMITED (REGISTERED NUMBER: 10696869)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Lee Wright Plumbing & Heating 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.

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 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.
Short leasehold - 10% on cost
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

LEE WRIGHT PLUMBING & HEATING LIMITED (REGISTERED NUMBER: 10696869)

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

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.

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 36 (2023 - 34 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st April 2023 20,000 46,754 259,048 32,515 358,317
Additions - 6,110 45,000 1,832 52,942
Disposals - - (30,200 ) (9,949 ) (40,149 )
At 31st March 2024 20,000 52,864 273,848 24,398 371,110
DEPRECIATION
At 1st April 2023 8,005 26,481 129,224 23,825 187,535
Charge for year 2,000 12,590 53,405 5,263 73,258
Eliminated on disposal - - (26,693 ) (9,609 ) (36,302 )
At 31st March 2024 10,005 39,071 155,936 19,479 224,491
NET BOOK VALUE
At 31st March 2024 9,995 13,793 117,912 4,919 146,619
At 31st March 2023 11,995 20,273 129,824 8,690 170,782

LEE WRIGHT PLUMBING & HEATING LIMITED (REGISTERED NUMBER: 10696869)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st April 2023 57,137 23,150 80,287
Disposals - (9,949 ) (9,949 )
At 31st March 2024 57,137 13,201 70,338
DEPRECIATION
At 1st April 2023 1,738 19,170 20,908
Charge for year 14,284 2,900 17,184
Eliminated on disposal - (9,609 ) (9,609 )
At 31st March 2024 16,022 12,461 28,483
NET BOOK VALUE
At 31st March 2024 41,115 740 41,855
At 31st March 2023 55,399 3,980 59,379

5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 57,861 63,392
Work-in-progress 122,226 246,807
180,087 310,199

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 214,237 189,274
Other debtors 70,498 44,269
Directors' current accounts - 8,794
Prepayments and accrued income 50,763 22,551
335,498 264,888

LEE WRIGHT PLUMBING & HEATING LIMITED (REGISTERED NUMBER: 10696869)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 14,021 16,703
Trade creditors 87,748 115,735
Tax 31,791 21,437
Social security and other taxes 23,297 26,493
VAT 108,335 46,029
Other creditors 136,560 124,899
Directors' current accounts 1,749 -
Accrued expenses 1,650 1,500
415,151 362,796

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 1,667 11,667
Hire purchase contracts 22,043 36,259
33,710 57,926

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 34,156 39,697

Deferred
tax
£   
Balance at 1st April 2023 39,697
Movement in the year due to:
changes in tax rates
changes in tax allowances (5,541 )
changes in tax losses
Balance at 31st March 2024 34,156

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 Ordinary £1 1 1

LEE WRIGHT PLUMBING & HEATING LIMITED (REGISTERED NUMBER: 10696869)

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

11. CAPITAL COMMITMENTS
31.3.24 31.3.23
£    £   
Contracted but not provided for in the
financial statements - -

12. ULTIMATE CONTROLLING PARTY

The controlling party is L Wright.