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REGISTERED NUMBER: 04508322 (England and Wales)

















Lewis Palmer Plumbing Limited

Financial Statements

for the Year Ended 30 September 2024






Lewis Palmer Plumbing Limited (Registered number: 04508322)

Contents of the Financial Statements
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lewis Palmer Plumbing Limited

Company Information
for the year ended 30 September 2024







DIRECTORS: Mrs S J Palmer
L W Palmer





SECRETARY: Mrs S J Palmer





REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX





REGISTERED NUMBER: 04508322 (England and Wales)





ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX

Lewis Palmer Plumbing Limited (Registered number: 04508322)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,634 55,017

CURRENT ASSETS
Stocks 31,681 25,178
Debtors 5 4,026 5,703
Cash at bank 117,056 86,368
152,763 117,249
CREDITORS
Amounts falling due within one year 6 82,377 68,305
NET CURRENT ASSETS 70,386 48,944
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,020

103,961

CREDITORS
Amounts falling due after more than one
year

7

(3,722

)

(9,306

)

PROVISIONS FOR LIABILITIES (9,475 ) (10,972 )
NET ASSETS 100,823 83,683

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 100,817 83,677
SHAREHOLDERS' FUNDS 100,823 83,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2025 and were signed on its behalf by:




Mrs S J Palmer - Director



L W Palmer - Director


Lewis Palmer Plumbing Limited (Registered number: 04508322)

Notes to the Financial Statements
for the year ended 30 September 2024


1. STATUTORY INFORMATION

Lewis Palmer Plumbing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Office equipment - 33% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Lewis Palmer Plumbing Limited (Registered number: 04508322)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Plant and Office Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1 October 2023 9,957 16,354 1,900 89,435 117,646
Additions - 2,710 - - 2,710
At 30 September 2024 9,957 19,064 1,900 89,435 120,356
DEPRECIATION
At 1 October 2023 5,974 9,911 1,893 44,851 62,629
Charge for year 996 1,950 2 11,145 14,093
At 30 September 2024 6,970 11,861 1,895 55,996 76,722
NET BOOK VALUE
At 30 September 2024 2,987 7,203 5 33,439 43,634
At 30 September 2023 3,983 6,443 7 44,584 55,017

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023
and 30 September 2024 31,751
DEPRECIATION
At 1 October 2023 2,646
Charge for year 7,276
At 30 September 2024 9,922
NET BOOK VALUE
At 30 September 2024 21,829
At 30 September 2023 29,105

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,391 3,147
Other debtors 166 -
Prepayments and accrued income 2,469 2,556
4,026 5,703

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 5,583 5,583
Trade creditors 22,064 22,174
UK corporation tax 27,356 9,866
Tax and social security costs 1,755 5,230
Other creditors 104 104
Directors' current accounts 22,976 21,832
Accruals and deferred income 2,539 3,516
82,377 68,305

Lewis Palmer Plumbing Limited (Registered number: 04508322)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 3,722 9,306

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 9,305 14,889

Hire purchase liabilities are secured on the assets concerned.