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Registered number: 09979883
Home Heating and Plumbing Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
Mayers
33 Mary Seacole Road
The Millfields
Plymouth
PL1 3JY
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 09979883
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,074 2,146
Tangible Assets 5 11,546 13,093
12,620 15,239
CURRENT ASSETS
Stocks 6 1,057 1,402
Debtors 7 14,719 31,823
Cash at bank and in hand 104,230 110,321
120,006 143,546
Creditors: Amounts Falling Due Within One Year 8 (59,158 ) (94,741 )
NET CURRENT ASSETS (LIABILITIES) 60,848 48,805
TOTAL ASSETS LESS CURRENT LIABILITIES 73,468 64,044
NET ASSETS 73,468 64,044
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 73,368 63,944
SHAREHOLDERS' FUNDS 73,468 64,044
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Matthew Owen
Director
28 May 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Home Heating and Plumbing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09979883 . The registered office is Unit 18, Brent Mill Business Park, South Brent, Devon, TQ10 9YT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 33% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2024 10,722
As at 28 February 2025 10,722
Amortisation
As at 1 March 2024 8,576
Provided during the period 1,072
As at 28 February 2025 9,648
Net Book Value
As at 28 February 2025 1,074
As at 1 March 2024 2,146
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2024 13,397 16,882 7,059 37,338
Additions 1,007 - 1,414 2,421
As at 28 February 2025 14,404 16,882 8,473 39,759
Depreciation
As at 1 March 2024 3,971 15,192 5,082 24,245
Provided during the period 2,086 423 1,459 3,968
As at 28 February 2025 6,057 15,615 6,541 28,213
Net Book Value
As at 28 February 2025 8,347 1,267 1,932 11,546
As at 1 March 2024 9,426 1,690 1,977 13,093
6. Stocks
2025 2024
£ £
Stock 1,057 1,402
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Page 4
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 925 10,387
Other debtors 168 -
Other debtors (1) 2,470 2,470
VAT 1,546 10,209
Other taxes and social security 9,610 8,757
14,719 31,823
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 16,095 23,495
Corporation tax 12,761 16,392
Other creditors 3,054 17,178
Accrued expenses 1,240 1,185
Director's loan account 26,008 36,491
59,158 94,741
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
Page 4