P.J & W Plumbing & Heating Contracts Ltd
Registered number: 03569678
Statement of Financial Position
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 24,712 32,949
Current assets
Stocks 1,000 1,000
Debtors 4 36,419 24,763
Cash at bank and in hand 5,243 48,854
42,662 74,617
Creditors: amounts falling due within one year 5 (26,664) (31,457)
Net current assets 15,998 43,160
Total assets less current liabilities 40,710 76,109
Creditors: amounts falling due after more than one year 6 (23,574) (28,604)
Provisions for liabilities - (6,260)
Net assets 17,136 41,245
Capital and reserves
Called up share capital 12 12
Profit and loss account 17,124 41,233
Shareholder's funds 17,136 41,245
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
W O'Mahony
Director
Approved by the board on 15 April 2025
P.J & W Plumbing & Heating Contracts Ltd
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction 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.
Creditors
Short term creditors are measured at transaction 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees and directors 2025 2024
Number Number
Average number of directors and persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 80,969
At 31 March 2025 80,969
Depreciation
At 1 April 2024 48,020
Charge for the year 8,237
At 31 March 2025 56,257
Net book value
At 31 March 2025 24,712
At 31 March 2024 32,949
4 Debtors 2025 2024
£ £
Trade debtors 26,822 14,614
Other debtors 9,597 10,149
36,419 24,763
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 12,080 10,606
Trade creditors 4,985 8,889
Accruals 1,445 1,375
Corporation tax - 1,336
Other taxes and social security costs 4,982 2,700
Other creditors 3,172 6,551
26,664 31,457
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 23,574 28,604
7 Other information
P.J & W Plumbing & Heating Contracts Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5 Rideway Close
Camberley
Surrey
GU15 2NX
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