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Registered number: 13719391










ESSEX PLUMBSTORE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

 
ESSEX PLUMBSTORE LIMITED
REGISTERED NUMBER: 13719391

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
62,186
83,929

  
62,186
83,929

Current assets
  

Stocks
 5 
404,775
376,048

Debtors
 6 
261,755
266,754

Cash at bank and in hand
 7 
249,189
244,054

  
915,719
886,856

Creditors: amounts falling due within one year
 8 
(461,506)
(500,584)

Net current assets
  
 
 
454,213
 
 
386,272

Total assets less current liabilities
  
516,399
470,201

Creditors: amounts falling due after more than one year
 9 
(175,000)
(265,000)

Provisions for liabilities
  

Deferred tax
 10 
(11,340)
(14,482)

  
 
 
(11,340)
 
 
(14,482)

Net assets
  
330,059
190,719


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
329,959
190,619

  
330,059
190,719


Page 1

 
ESSEX PLUMBSTORE LIMITED
REGISTERED NUMBER: 13719391

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 June 2025.




S P Hunt
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ESSEX PLUMBSTORE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
ESSEX PLUMBSTORE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.Accounting policies (continued)

 
1.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
1.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
1.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
ESSEX PLUMBSTORE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.Accounting policies (continued)


1.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method and on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
5 years Straight Line
Motor vehicles
-
25%
Reducing Balance
Fixtures, fittings and equipment
-
25%
Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
1.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
ESSEX PLUMBSTORE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.Accounting policies (continued)

 
1.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


General information

Essex Plumbstore Limited is a private limited company incorporated in England and Wales. The registered office is 4 Chester Court, Chester Hall Lane, Basildon, Essex, SS14 3WR.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2024 - 6).


4.


Tangible fixed assets





Short-term leasehold property
Motor vehicles
Fixtures, fittings and equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2024
58,113
25,995
57,185
141,293


Additions
-
-
4,045
4,045


Disposals
-
-
(1,451)
(1,451)



At 31 March 2025

58,113
25,995
59,779
143,887



Depreciation


At 1 April 2024
23,975
11,373
22,015
57,363


Charge for the year on owned assets
12,049
3,656
9,142
24,847


Disposals
-
-
(509)
(509)



At 31 March 2025

36,024
15,029
30,648
81,701



Net book value



At 31 March 2025
22,089
10,966
29,131
62,186



At 31 March 2024
34,138
14,622
35,169
83,929

Page 6

 
ESSEX PLUMBSTORE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

           4.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2025
2024
£
£

Short leasehold
22,089
34,138

22,089
34,138



5.


Stocks

2025
2024
£
£

Finished goods and goods for resale
404,775
376,048

404,775
376,048


Page 7

 
ESSEX PLUMBSTORE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.


Debtors


2025
2024
£
£

Due after more than one year

Other debtors
44,100
44,100

44,100
44,100

Due within one year

Trade debtors
183,458
203,736

Prepayments and accrued income
34,197
18,918

261,755
266,754



7.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
249,189
244,054

249,189
244,054



8.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
256,814
168,607

Corporation tax
59,928
54,437

Other taxation and social security
39,059
35,835

Other creditors
105,705
241,705

461,506
500,584



9.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Other creditors
175,000
265,000

175,000
265,000


Page 8

 
ESSEX PLUMBSTORE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

10.


Deferred taxation




2025


£






At beginning of year
(14,482)


Charged to profit or loss
3,142



At end of year
(11,340)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Accelerated capital allowances
(11,340)
(14,482)

(11,340)
(14,482)


11.


Capital commitments


At 31 March 2025 the Company had capital commitments as follows:

2025
2024
£
£


Contracted for but not provided in these financial statements
31,780
-

31,780
-


12.


Pension commitments

The company contributes to money purchase pension schemes for certain employees. The schemes and their assets are held by independent managers. The pension charge represents contributions paid by the company and amounted to £2,531. At 31 March 2025 there were pension contribution liabilities amounting to £675 included within trade creditors.


13.


Related party transactions

During the period, dividends amounting to £20,000 (2024 £16,000) were paid to the director.
At 31st March 2025, £280,705 (2024 £506,705) was owed to the director.


Page 9