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COMPANY REGISTRATION NUMBER: 08662343
Northwich Plumbing Supplies Limited
Unaudited Abridged Financial Statements
31 December 2024
Northwich Plumbing Supplies Limited
Abridged Financial Statements
Year ended 31 December 2024
Contents
Page
Director's report
1
Abridged statement of income and retained earnings
2
Abridged statement of financial position
3
Notes to the abridged financial statements
5
Northwich Plumbing Supplies Limited
Director's Report
Year ended 31 December 2024
The director presents his report and the unaudited abridged financial statements of the company for the year ended 31 December 2024 .
Director
The director who served the company during the year was as follows:
Mr K Southern
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 22 May 2025 and signed on behalf of the board by:
Mr K Southern
Director
Registered office:
Unit 1, New Cheshire Business Park
Wincham Lane, Wincham
Northwich
Cheshire
CW9 6GG
Northwich Plumbing Supplies Limited
Abridged Statement of Income and Retained Earnings
Year ended 31 December 2024
2024
2023
Note
£
£
Gross profit
223,056
227,598
Administrative expenses
190,677
197,835
---------
---------
Operating profit
32,379
29,763
Other interest receivable and similar income
8,995
2,724
Interest payable and similar expenses
47
2
---------
---------
Profit before taxation
5
41,327
32,485
Tax on profit
7,856
6,170
--------
--------
Profit for the financial year and total comprehensive income
33,471
26,315
--------
--------
Dividends paid and payable
( 24,000)
( 46,500)
Retained earnings at the start of the year
354,207
374,392
---------
---------
Retained earnings at the end of the year
363,678
354,207
---------
---------
All the activities of the company are from continuing operations.
Northwich Plumbing Supplies Limited
Abridged Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
6,912
9,053
Current assets
Stocks
119,308
117,591
Debtors
81,194
65,071
Investments
7
156,138
150,000
Cash at bank and in hand
111,740
144,905
---------
---------
468,380
477,567
Creditors: amounts falling due within one year
110,291
130,683
---------
---------
Net current assets
358,089
346,884
---------
---------
Total assets less current liabilities
365,001
355,937
Provisions
Taxation including deferred tax
1,313
1,720
---------
---------
Net assets
363,688
354,217
---------
---------
Capital and reserves
Called up share capital
10
10
Profit and loss account
363,678
354,207
---------
---------
Shareholders funds
363,688
354,217
---------
---------
These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Northwich Plumbing Supplies Limited
Abridged Statement of Financial Position (continued)
31 December 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 22 May 2025 , and are signed on behalf of the board by:
Mr K Southern
Director
Company registration number: 08662343
Northwich Plumbing Supplies Limited
Notes to the Abridged Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, New Cheshire Business Park, Wincham Lane, Wincham, Northwich, CW9 6GG, Cheshire.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
Turnover represents invoiced sales of goods excluding Value Added Tax. Turnover is recognised on a strict time basis at the point that an order is placed by phone or over the counter and payment is generally required from the customer immediately in order to validate that order before processing and despatching the goods. Goods are generally collected or despatched the same day as the order.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be payable or recoverable using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost and are subsequently stated at cost less accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10% straight line
Fixtures and fittings
-
10% straight line
Motor vehicles
-
20% straight line
Office equipment
-
20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments, including derivatives, are initially recognised at fair value. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss.
Defined contribution plans
Contributions to defined contribution pension plans are recognised as an expense in the period in which the payment is made.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Profit before taxation
Profit before taxation is stated after charging/crediting:
2024
2023
£
£
Depreciation of tangible assets
2,142
4,510
Fair value adjustments to financial assets measured at fair value through profit or loss
( 6,138)
-------
-------
6. Tangible assets
£
Cost
At 1 January 2024
63,778
Disposals
( 172)
--------
At 31 December 2024
63,606
--------
Depreciation
At 1 January 2024
54,725
Charge for the year
2,142
Disposals
( 173)
--------
At 31 December 2024
56,694
--------
Carrying amount
At 31 December 2024
6,912
--------
At 31 December 2023
9,053
--------
7. Investments
2024
2023
£
£
Other investments
156,138
150,000
---------
---------
8. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2024
2023
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
156,138
150,000
---------
---------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
17,000
17,000
Later than 1 year and not later than 5 years
17,000
--------
--------
17,000
34,000
--------
--------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr K Southern
----
----
----
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr K Southern
594
( 594)
----
----
----