REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
for |
A L Plumbing & Heating Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
for |
A L Plumbing & Heating Limited |
A L Plumbing & Heating Limited (Registered number: SC218753) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
A L Plumbing & Heating Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Westburn Business Centre |
McNee Road |
Prestwick |
KA9 2PB |
A L Plumbing & Heating Limited (Registered number: SC218753) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
A L Plumbing & Heating Limited (Registered number: SC218753) |
Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the director and authorised for issue on |
A L Plumbing & Heating Limited (Registered number: SC218753) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
A L Plumbing & Heating Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The accounts have been prepared on a going concern basis as it is the director's view that the company has sufficient resources both in terms of on-going work and cash resources to remain in business for the foreseeable future. This basis assumes the ongoing support to and from associated and group undertakings. |
Turnover/ revenue recognition |
Sales and work done comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the company's activities.Sales are presented, net of value-added tax, rebates and discounts. |
The company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the company's activities are met. |
For incomplete contracts an assessment is made of the extent to which revenue has been earned. This assessment takes into account the nature of the contract, its stage of completion and relevant contract terms. These monies are included as amounts due on contracts. |
Tangible fixed assets |
Plant and machinery etc | - |
Tangible fixed assets are stated at cost less depreciation. |
Impairment of fixed assets |
At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
Stocks |
Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal. |
A L Plumbing & Heating Limited (Registered number: SC218753) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Pension costs and other post-retirement benefits |
The company operates a money purchase pension scheme in the form of employee personal pension plans. The contracts are between the individual and the pension provider and all funds are held externally by a third party pension provider. Pension contributions are charged to the profit and loss account in the period to which they relate. |
Financial instruments |
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality. The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities: |
Loans and other receivables |
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses. |
Other financial liabilities |
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value. |
Impairment of financial instruments |
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impact. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
A L Plumbing & Heating Limited (Registered number: SC218753) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts owed by associates |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Amounts owed to associates | 492,987 | 365,351 |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans (see note 8) |
Hire purchase contracts |
A L Plumbing & Heating Limited (Registered number: SC218753) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
8. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loan (secured) |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts | 3,423 | 6,846 |
Bank borrowings of the company are secured by a bond and floating charge and by other limited guarantees. |
Hire purchase liabilities are secured over the assets to which they relate. |
Interest on all borrowings is paid at a commercial rate of interest. |
10. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other members within the group. |
During the year the company had made transfers to A & D Properties, a business in which the Director is the principal owner, of £539. As at 30 June 2024 £69,239 was due from A & D Properties (2023: £68,700). |
During the year the company had transactions with Craigie Property Investments Ltd to the value of £127,636. As at 30 June 2024 £492,987 (2023: £365,351) was due to Craigie Property Investments Ltd. |
During the year the company had transactions with Magnum Contracts Ltd to the value of £nil. The Director is a director and 50% shareholder of Magnum Contracts Ltd.. As at 30 June 2024, £18,106 (2023: £18,106) was due from Magnum Contracts Limited. |
During the year the company had transactions with Lumac Construction Ltd of £3,900, a company in which the Director is the sole shareholder. This amount outstanding and due by Lumac Construction Ltd at 30 June 2024 was £279,949 (2023: £276,049). |
A L Plumbing & Heating Limited (Registered number: SC218753) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
11. | CONTROLLING PARTIES |
The company is a wholly owned subsidiary of Lumax Homes (Holdings) Limited. |
The company is under the ultimate control of Mr and Mrs Andrew Lusk by virtue of their 100% holding in Lumax Homes (Holdings) Limited. |