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REGISTERED NUMBER: 04778068 (England and Wales)















Modern Plumbing Solutions Limited

Unaudited Financial Statements for the Year Ended 31 August 2024






Modern Plumbing Solutions Limited (Registered number: 04778068)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Modern Plumbing Solutions Limited

Company Information
for the Year Ended 31 August 2024







Directors: Helen Lynda O'Donoghue
Michael John O'Donoghue





Secretary: Helen Lynda O'Donoghue





Registered office: 60 Far Hey Close
Radcliffe
Manchester
Greater Manchester
M26 3GL





Registered number: 04778068 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
Greater Manchester
BL6 7BY

Modern Plumbing Solutions Limited (Registered number: 04778068)

Statement of Financial Position
31 August 2024

2024 2023
Notes £    £    £   
Fixed assets
Tangible assets 4 104,906 85,358

Current assets
Debtors 5 950,617 889,258
Cash at bank 769,445 686,523
1,720,062 1,575,781
Creditors
Amounts falling due within one year 6 598,858 711,831
Net current assets 1,121,204 863,950
Total assets less current liabilities 1,226,110 949,308

Provisions for liabilities 8 21,624 16,737
Net assets 1,204,486 932,571

Capital and reserves
Called up share capital 9 100 100
Retained earnings 1,204,386 932,471
Shareholders' funds 1,204,486 932,571

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Modern Plumbing Solutions Limited (Registered number: 04778068)

Statement of Financial Position - continued
31 August 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 Board of Directors and authorised for issue on 10 April 2025 and were signed on its behalf by:





Michael John O'Donoghue - Director


Modern Plumbing Solutions Limited (Registered number: 04778068)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. Statutory information

Modern Plumbing Solutions 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.

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 represents the total invoice value, excluding Value Added Tax. of plumbing contracting services provided by the company during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost and 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Modern Plumbing Solutions Limited (Registered number: 04778068)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. Accounting policies - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 10 (2023 - 9 ) .

4. Tangible fixed assets
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1 September 2023 21,460 170,904 192,364
Additions - 39,533 39,533
At 31 August 2024 21,460 210,437 231,897
Depreciation
At 1 September 2023 17,910 89,096 107,006
Charge for year 929 19,056 19,985
At 31 August 2024 18,839 108,152 126,991
Net book value
At 31 August 2024 2,621 102,285 104,906
At 31 August 2023 3,550 81,808 85,358


5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 671,735 703,753
Other debtors 278,882 185,505
950,617 889,258

Modern Plumbing Solutions Limited (Registered number: 04778068)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts (see note 7) - 9,625
Trade creditors 426,205 595,661
Taxation and social security 143,443 69,381
Other creditors 29,210 37,164
598,858 711,831

7. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 9,625

Non-cancellable operating leases
2024 2023
£    £   
Within one year 9,519 9,545
Between one and five years 16,032 358
25,551 9,903

8. Provisions for liabilities
2024 2023
£    £   
Deferred tax 21,624 16,737

Deferred
tax
£   
Balance at 1 September 2023 16,737
Charge to Statement of Income and Retained Earnings during year 4,887
Balance at 31 August 2024 21,624

Modern Plumbing Solutions Limited (Registered number: 04778068)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

10. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
Michael John O'Donoghue
Balance outstanding at start of year 53,759 7,776
Amounts advanced 190,060 121,815
Amounts repaid (130,703 ) (75,832 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 113,116 53,759