2023-08-112024-08-312024-08-31falseSC778772VINCENT COYLE (PLUMBING & HEATING D DIVISION) 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VINCENT COYLE (PLUMBING & HEATING D DIVISION) LIMITED

Registered Number
SC778772
(Scotland)

Unaudited Financial Statements for the Period ended
31 August 2024

VINCENT COYLE (PLUMBING & HEATING D DIVISION) LIMITED
Company Information
for the period from 11 August 2023 to 31 August 2024

Director

COYLE, Vincent

Company Secretary

COYLE, Dawn

Registered Address

5 Victoria Place
Airdrie
ML6 9BU

Registered Number

SC778772 (Scotland)
VINCENT COYLE (PLUMBING & HEATING D DIVISION) LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

£

£

Fixed assets
Tangible assets323,143
23,143
Current assets
Stocks13,529
Debtors434,571
Cash at bank and on hand11,552
59,652
Creditors amounts falling due within one year5(179,220)
Net current assets (liabilities)(119,568)
Total assets less current liabilities(96,425)
Net assets(96,425)
Capital and reserves
Called up share capital100
Profit and loss account(96,525)
Shareholders' funds(96,425)
The financial statements were approved and authorised for issue by the Board of Directors on 8 May 2025, and are signed on its behalf by:
COYLE, Vincent
Director
Registered Company No. SC778772
VINCENT COYLE (PLUMBING & HEATING D DIVISION) LIMITED
Notes to the Financial Statements
for the period ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Vehicles25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

2024
Average number of employees during the year10
3.Tangible fixed assets

Total

£
Cost or valuation
Additions28,484
At 31 August 2428,483
Depreciation and impairment
Charge for year5,341
At 31 August 245,341
Net book value
At 31 August 2423,143
At 10 August 23-
4.Debtors: amounts due within one year

2024

£
Trade debtors / trade receivables34,558
Other debtors13
Total34,571
5.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables65,812
Taxation and social security15,961
Other creditors94,447
Accrued liabilities and deferred income3,000
Total179,220