Sean James Heating & Plumbing Ltd

Registered number

07166191

Filleted Accounts

28 February 2025

Sean James Heating & Plumbing Ltd
Registered number:		07166191
Balance Sheet
as at 28 February 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		112,450			121,100
Tangible assets	4		121,629			123,637
			234,079			244,737

Current assets
Stocks		32,100			38,100
Debtors	5	31,175			33,183
Cash at bank and in hand		81,749			49,375
		145,024			120,658

Creditors: amounts falling due within one year	6	(73,367)			(74,608)

Net current assets			71,657			46,050

Total assets less current liabilities			305,736			290,787

Creditors: amounts falling due after more than one year	7		(48,985)			(54,003)

Provisions for liabilities			(1,016)			(1,397)

Net assets			255,735			235,387

Capital and reserves
Called up share capital			2			2
Profit and loss account			255,733			235,385

Shareholder's funds			255,735			235,387

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


Sean Moffett
Director
Approved by the board on 23 May 2025

Sean James Heating & Plumbing Ltd
Notes to the Accounts
for the year ended 28 February 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Goodwill			over 20 years
	Land and buildings			nil
	Motor Vehicles			25% Reducing Balance
	Fixtures, fittings, tools and equipment			over 5 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					5		5


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 March 2024							173,000
	At 28 February 2025							173,000

	Amortisation
	At 1 March 2024							51,900
	Provided during the year							8,650
	At 28 February 2025							60,550

	Net book value
	At 28 February 2025							112,450
	At 29 February 2024							121,100

	Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 March 2024	116,283		13,057		14,995		144,335
	Disposals	-		-		(4,000)		(4,000)
	At 28 February 2025	116,283		13,057		10,995		140,335

	Depreciation
	At 1 March 2024	-		12,458		8,240		20,698
	Charge for the year	-		150		1,633		1,783
	On disposals	-		-		(3,775)		(3,775)
	At 28 February 2025	-		12,608		6,098		18,706

	Net book value
	At 28 February 2025	116,283		449		4,897		121,629
	At 29 February 2024	116,283		599		6,755		123,637


5	Debtors					2025		2024
£							£

	Trade debtors					28,912		31,774
	Other debtors					2,263		1,409
						31,175		33,183


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					4,253		3,116
	Trade creditors					42,061		54,810
	Taxation and social security costs					24,691		14,702
	Other creditors					2,362		1,980
						73,367		74,608


7	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					48,985		54,003


8	Loans					2025		2024
£							£
	Creditors include:
	Instalments falling due for payment after more than five years					27,589		36,070


	Secured bank loans					53,238		57,119

	A fixed and floating charge over 59 Brighton Road and any undertakings of the company has been given as security for the bank loans.


9	Other information

	Sean James Heating & Plumbing Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	11 The Village
	Little Crosby
	Liverpool
	L23 4TS