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Registered number: 02149165









N.C.S. PLUMBING & HEATING SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
N.C.S. PLUMBING & HEATING SERVICES LIMITED
REGISTERED NUMBER: 02149165

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
84,916
87,702

Current assets
  

Stocks
  
43,834
265,758

Debtors: amounts falling due within one year
 5 
286,310
57,994

Cash at bank and in hand
  
181,666
137,278

  
511,810
461,030

Creditors: amounts falling due within one year
 6 
(325,628)
(295,612)

Net current assets
  
 
 
186,182
 
 
165,418

Total assets less current liabilities
  
271,098
253,120

Creditors: amounts falling due after more than one year
 7 
(10,000)
(53,189)

  

Net assets
  
261,098
199,931


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
260,998
199,831

  
261,098
199,931


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
N.C.S. PLUMBING & HEATING SERVICES LIMITED
REGISTERED NUMBER: 02149165
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 April 2025.




N C Stahl
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
N.C.S. PLUMBING & HEATING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

N.C.S. Plumbing & Heating Services Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is 440 Larkshall Road, Chingford, London, E4 9HH. 
The principal activity of the Company is the installation of plumbing and heating. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
N.C.S. PLUMBING & HEATING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


Page 4

 
N.C.S. PLUMBING & HEATING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
reducing balance
Motor vehicles
-
20%
reducing balance
Fixtures and fittings
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
N.C.S. PLUMBING & HEATING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 5).

Page 6

 
N.C.S. PLUMBING & HEATING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 August 2023
22,488
2,786
106,740
127,603
259,617


Additions
-
-
41,307
265
41,572


Disposals
-
-
(56,377)
-
(56,377)



At 31 July 2024

22,488
2,786
91,670
127,868
244,812



Depreciation


At 1 August 2023
22,488
1,076
36,409
111,942
171,915


Charge for the year on owned assets
-
342
13,200
2,386
15,928


Disposals
-
-
(27,947)
-
(27,947)



At 31 July 2024

22,488
1,418
21,662
114,328
159,896



Net book value



At 31 July 2024
-
1,368
70,008
13,540
84,916



At 31 July 2023
-
1,710
70,331
15,661
87,702


5.


Debtors

2024
2023
£
£


Trade debtors
258,421
31,202

Amounts owed by group undertakings
1,692
1,666

Other debtors
17,692
18,805

Prepayments
8,505
6,321

286,310
57,994


Page 7

 
N.C.S. PLUMBING & HEATING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Loans
10,000
50,043

Trade creditors
110,554
86,438

Corporation tax
21,643
127

Other taxation and social security
15,097
5,924

Other creditors
53,934
150,580

Accruals
114,400
2,500

325,628
295,612



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
10,000
53,189



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
50,043

Amounts falling due 1-2 years

Bank loans
10,000
53,189



20,000
103,232


At the balance sheet date loans of £Nil (2023 - £73,233) were secured by a personal guarantee by a director.

Page 8

 
N.C.S. PLUMBING & HEATING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £2,374 (2023 - £2,858). Contributions totalling £220 (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

During the year, the Company received rent and management charges of £57,233 (2023 - £26,713) from companies under common control.
During the year, the Company made payments of £70,760 
(2023 - £58,900) to directors of the Company for services provided.
At the year end, the company owed £3,474 
(2023 - £4,812 owed by) to companies under common control.
Included within other creditors is an amount of £35,861 
(2023 - £144,061) owed to directors of the Company.


11.


Controlling party

The ultimate controlling party is deemed to be Mr N C Stahl. 

 
Page 9