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Company registration number: 08707907
Pro Plumbing Supplies Limited
Unaudited filleted financial statements
30 September 2024
Pro Plumbing Supplies Limited
Contents
Directors and other information
Accountant's report
Statement of financial position
Notes to the financial statements
Pro Plumbing Supplies Limited
Directors and other information
Director P R O'Loughlin
Company number 08707907
Registered office 71 Morton Arms Building Unit 1
Pasture Road
Moreton
Wirral
CH46 7TQ
Accountant Hailwood & Co.
392-394 Hoylake Road
Moreton
Wirral
CH46 6DF
Pro Plumbing Supplies Limited
Chartered accountant's report to the director on the preparation of the
unaudited statutory financial statements of Pro Plumbing Supplies Limited
Year ended 30 September 2024
As described on the Statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 September 2024, as set out on pages 5 to 10.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Hailwood & Co.
Chartered Accountants
392-394 Hoylake Road
Moreton
Wirral
CH46 6DF
9 May 2025
Pro Plumbing Supplies Limited
Statement of financial position
30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 36,914 20,895
_______ _______
36,914 20,895
Current assets
Stocks 198,243 174,697
Debtors 7 59,578 45,180
Cash at bank and in hand 112,968 191,721
_______ _______
370,789 411,598
Creditors: amounts falling due
within one year 8 ( 129,049) ( 149,945)
_______ _______
Net current assets 241,740 261,653
_______ _______
Total assets less current liabilities 278,654 282,548
Creditors: amounts falling due
after more than one year 9 ( 90,533) ( 107,814)
_______ _______
Net assets 188,121 174,734
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 188,120 174,733
_______ _______
Shareholder funds 188,121 174,734
_______ _______
For the year ending 30 September 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 09 May 2025 , and are signed on behalf of the board by:
P R O'Loughlin
Director
Company registration number: 08707907
Pro Plumbing Supplies Limited
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 71 Morton Arms Building Unit 1, Pasture Road, Moreton, Wirral, CH46 7TQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
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:
Short leasehold property - 4 % straight line
Plant and machinery - 20 % reducing balance
Fittings fixtures and equipment - 20 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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 stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2023: 11 ).
5. Dividends
Equity dividends
2024 2023
£ £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) 36,500 33,000
_______ _______
6. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 October 2023 13,303 8,836 12,664 20,720 55,523
Additions 4,914 13,403 3,591 - 21,908
_______ _______ _______ _______ _______
At 30 September 2024 18,217 22,239 16,255 20,720 77,431
_______ _______ _______ _______ _______
Depreciation
At 1 October 2023 532 6,877 9,213 18,006 34,628
Charge for the year 729 3,072 1,409 679 5,889
_______ _______ _______ _______ _______
At 30 September 2024 1,261 9,949 10,622 18,685 40,517
_______ _______ _______ _______ _______
Carrying amount
At 30 September 2024 16,956 12,290 5,633 2,035 36,914
_______ _______ _______ _______ _______
At 30 September 2023 12,771 1,959 3,451 2,714 20,895
_______ _______ _______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 59,203 44,848
Other debtors 375 332
_______ _______
59,578 45,180
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 16,725 15,879
Trade creditors 87,842 94,050
Corporation tax 8,976 21,263
Social security and other taxes 14,053 16,789
Other creditors 1,453 1,964
_______ _______
129,049 149,945
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 50,533 67,814
Other creditors 40,000 40,000
_______ _______
90,533 107,814
_______ _______
10. Controlling party
The company is controlled by the director whose name is shown on the directors report.
11. Directors' advances, credits and guarantees
All movements on directors' advances, credits and guarantees, were as would be expected under normal market conditions, not material in terms of risk or benefits arising and would therefore not influence the users of these accounts when assessing the financial position of the company.