3 false false false false true false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2024 - FRS102_2024 400,000 100,000 500,000 500,000 400,000 1,305 1,305 1,305 xbrli:pure xbrli:shares iso4217:GBP 10754026 2023-07-01 2024-06-30 10754026 2024-06-30 10754026 2023-06-30 10754026 2022-07-01 2023-06-30 10754026 2023-06-30 10754026 2022-06-30 10754026 core:Subsidiary1 2023-07-01 2024-06-30 10754026 bus:Director3 2023-07-01 2024-06-30 10754026 core:WithinOneYear 2024-06-30 10754026 core:WithinOneYear 2023-06-30 10754026 core:ShareCapital 2024-06-30 10754026 core:ShareCapital 2023-06-30 10754026 core:RevaluationReserve 2024-06-30 10754026 core:RetainedEarningsAccumulatedLosses 2024-06-30 10754026 core:RetainedEarningsAccumulatedLosses 2023-06-30 10754026 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 10754026 core:Non-currentFinancialInstruments 2024-06-30 10754026 core:Non-currentFinancialInstruments 2023-06-30 10754026 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 10754026 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 10754026 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 10754026 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10754026 bus:Director1 2023-07-01 2024-06-30 10754026 bus:SmallEntities 2023-07-01 2024-06-30 10754026 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10754026 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10754026 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10754026 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 10754026
NIGEL SMITH PLUMBING AND MECHANICAL SERVICES (HOLDINGS) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 June 2024
NIGEL SMITH PLUMBING AND MECHANICAL SERVICES (HOLDINGS) LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
500,000
400,000
Investments
6
1,305
1,305
---------
---------
501,305
401,305
Current assets
Debtors
7
610,812
610,812
Cash at bank and in hand
22,247
7,020
---------
---------
633,059
617,832
Creditors: amounts falling due within one year
8
( 66,456)
( 65,765)
---------
---------
Net current assets
566,603
552,067
------------
---------
Total assets less current liabilities
1,067,908
953,372
Provisions
( 43,750)
( 18,750)
------------
---------
Net assets
1,024,158
934,622
------------
---------
NIGEL SMITH PLUMBING AND MECHANICAL SERVICES (HOLDINGS) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
1,305
1,305
Revaluation reserve
131,250
Profit and loss account
891,603
933,317
------------
---------
Shareholder funds
1,024,158
934,622
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 March 2025 , and are signed on behalf of the board by:
M N Smith
Director
Company registration number: 10754026
NIGEL SMITH PLUMBING AND MECHANICAL SERVICES (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 7 Lindum Business Park, Station Road, Lincoln, Lincs, LN6 3FE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Investment property
£
Cost or valuation
At 1 July 2023
400,000
Revaluations
100,000
---------
At 30 June 2024
500,000
---------
Depreciation
At 1 July 2023 and 30 June 2024
---------
Carrying amount
At 30 June 2024
500,000
---------
At 30 June 2023
400,000
---------
Investment property is valued by the Directors at its post year end sales value of £500,000 (2023 - £400,000). The historical cost of the property is £325,000.
6. Investments
Shares in group undertakings
£
Cost
At 1 July 2023 and 30 June 2024
1,305
-------
Impairment
At 1 July 2023 and 30 June 2024
-------
Carrying amount
At 30 June 2024
1,305
-------
At 30 June 2023
1,305
-------
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Nigel Smith Plumbing and Mechanical Services Limited
Ordinary
100
7. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
610,812
610,812
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
55,500
55,500
Corporation tax
5,721
5,030
Other creditors
5,235
5,235
--------
--------
66,456
65,765
--------
--------
9. Controlling party
The immediate and ultimate parent undertaking is MPS Investments (Lincoln) Limited . The individual controlling person is M N Smith .