Company Registration No. 09870861 (England and Wales)
EDWARDS PLUMBING SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
EDWARDS PLUMBING SERVICES LIMITED
COMPANY INFORMATION
Directors
Mr S Dakin
Mr M Edwards
Company number
09870861
Registered office
21 Bampton Street
Tiverton
Devon
United Kingdom
EX16 6AA
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
EDWARDS PLUMBING SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
EDWARDS PLUMBING SERVICES LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
72,918
92,352
Current assets
Stocks
26,558
17,849
Debtors
4
159,862
122,287
Cash at bank and in hand
122,909
30,141
309,329
170,277
Creditors: amounts falling due within one year
5
(220,996)
(139,600)
Net current assets
88,333
30,677
Total assets less current liabilities
161,251
123,029
Creditors: amounts falling due after more than one year
6
(63,612)
(92,266)
Provisions for liabilities
(18,230)
(17,547)
Net assets
79,409
13,216
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
79,309
13,116
Total equity
79,409
13,216
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
EDWARDS PLUMBING SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2024
30 November 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 April 2025 and are signed on its behalf by:
Mr M Edwards
Director
Company Registration No. 09870861
EDWARDS PLUMBING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information
Edwards Plumbing Services Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and machinery
15% reducing balance
Fixtures, fittings and equipment
15% reducing balance
Computer equipment
3 years straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks and work in progress are stated at the lower of cost and net realisable value.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
EDWARDS PLUMBING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
1.6
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
1.11
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
EDWARDS PLUMBING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 6 (2023 - 6).
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings and equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 December 2023
16,801
3,715
5,537
155,968
182,021
Additions
2,175
1,757
3,932
At 30 November 2024
18,976
3,715
7,294
155,968
185,953
Depreciation and impairment
At 1 December 2023
8,904
1,516
4,044
75,205
89,669
Depreciation charged in the year
1,511
331
1,333
20,191
23,366
At 30 November 2024
10,415
1,847
5,377
95,396
113,035
Carrying amount
At 30 November 2024
8,561
1,868
1,917
60,572
72,918
At 30 November 2023
7,897
2,199
1,493
80,763
92,352
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
52,619
33,031
Other debtors
105,647
87,519
Prepayments and accrued income
1,596
1,737
159,862
122,287
EDWARDS PLUMBING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,500
5,500
Obligations under finance leases
23,581
26,323
Payments received on account
1,008
Trade creditors
119,526
74,614
Corporation tax
57,326
26,412
Other taxation and social security
(4,991)
2,448
Government grants
13,000
Other creditors
1,308
1,343
Accruals and deferred income
4,738
2,960
220,996
139,600
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
25,304
30,699
Obligations under finance leases
38,308
61,567
63,612
92,266
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
75 Ordinary A shares of £1 each
75
75
25 Ordinary B shares of £1 each
25
25
100
100