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Company registration number: 01337166
John C. Pickard (Plumbing & Heating) Limited
Unaudited filleted financial statements
30 November 2024
John C. Pickard (Plumbing & Heating) Limited
Contents
Statement of financial position
Notes to the financial statements
John C. Pickard (Plumbing & Heating) Limited
Statement of financial position
30 November 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 55,284 30,570
_______ _______
55,284 30,570
Current assets
Stocks 16,447 20,162
Debtors 6 1,582 6,363
Cash at bank and in hand 78,955 68,883
_______ _______
96,984 95,408
Creditors: amounts falling due
within one year 7 ( 77,964) ( 68,282)
_______ _______
Net current assets 19,020 27,126
_______ _______
Total assets less current liabilities 74,304 57,696
Creditors: amounts falling due
after more than one year 8 ( 16,702) ( 20,734)
Provisions for liabilities ( 13,821) ( 7,643)
_______ _______
Net assets 43,781 29,319
_______ _______
Capital and reserves
Called up share capital 99 99
Capital redemption reserve 1 1
Profit and loss account 43,681 29,219
_______ _______
Shareholders funds 43,781 29,319
_______ _______
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge 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 income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 18 March 2025 , and are signed on behalf of the board by:
Mr David J Pickard
Director
Company registration number: 01337166
John C. Pickard (Plumbing & Heating) Limited
Notes to the financial statements
Year ended 30 November 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 Cliffe Green Farm, Laycock, Keighley, West Yorkshire, BD22 0PX.
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 for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied; the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will flow to the entity; the stage of completion of the transaction at the end of the reporting period can be measured reliably and the costs incurred and costs to complete the transaction can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent 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:
Plant and machinery - 15 % 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.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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.
Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in a settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are 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.
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 5 (2023: 5 ).
5. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 December 2023 30,105 90,466 120,571
Additions 3,600 32,795 36,395
Disposals ( 2,050) ( 17,870) ( 19,920)
_______ _______ _______
At 30 November 2024 31,655 105,391 137,046
_______ _______ _______
Depreciation
At 1 December 2023 20,531 69,470 90,001
Charge for the year 1,680 9,289 10,969
Disposals - ( 19,208) ( 19,208)
_______ _______ _______
At 30 November 2024 22,211 59,551 81,762
_______ _______ _______
Carrying amount
At 30 November 2024 9,444 45,840 55,284
_______ _______ _______
At 30 November 2023 9,574 20,996 30,570
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 1,053 5,551
Other debtors 529 812
_______ _______
1,582 6,363
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,068 10,055
Trade creditors 19,058 10,741
Corporation tax 17,072 25,091
Social security and other taxes 17,160 12,551
Other creditors 14,606 9,844
_______ _______
77,964 68,282
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 5,711 15,726
Other creditors 10,991 5,008
_______ _______
16,702 20,734
_______ _______