2023-11-012024-10-312024-10-31false04559866BMJ Plumbing & Heating 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BMJ Plumbing & Heating Limited

Registered Number
04559866
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

BMJ Plumbing & Heating Limited
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

Mr BM Jerman
Mr J Jerman

Company Secretary

Mrs AD Jerman

Registered Address

Unit 6b Parc Derwen Fawr
Llanidloes
SY18 6FE

Registered Number

04559866 (England and Wales)
BMJ Plumbing & Heating Limited
Statement of Financial Position
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets520,23610,746
20,23610,746
Current assets
Stocks6122,08175,654
Debtors745,34159,435
Cash at bank and on hand81,427104,747
248,849239,836
Creditors amounts falling due within one year8(68,204)(77,462)
Net current assets (liabilities)180,645162,374
Total assets less current liabilities200,881173,120
Provisions for liabilities9(4,507)(2,268)
Net assets196,374170,852
Capital and reserves
Called up share capital101101
Share premium1,4991,499
Profit and loss account194,774169,252
Shareholders' funds196,374170,852
The financial statements were approved and authorised for issue by the Board of Directors on 4 July 2025, and are signed on its behalf by:
Mr BM Jerman
Director
Registered Company No. 04559866
BMJ Plumbing & Heating Limited
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Borrowing costs
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life on a 5% Straight Line Basis.
Goodwill
Goodwill arising on an acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities, and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of useful life cannot be made.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Land and buildings25
Plant and machinery25
Vehicles25
Office Equipment25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessment for impairment. If stocks are 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.
Trade and other debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are measured at transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade and other creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
2.Average number of employees

20242023
Average number of employees during the year1010
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 November 2350,00050,000
At 31 October 2450,00050,000
Amortisation and impairment
At 01 November 2350,00050,000
At 31 October 2450,00050,000
Net book value
At 31 October 24--
At 31 October 23--
5.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 November 236,83371,7505,82784,410
Additions1,02813,500-14,528
At 31 October 247,86185,2505,82798,938
Depreciation and impairment
At 01 November 236,83361,1255,70673,664
Charge for year2574,751305,038
At 31 October 247,09065,8765,73678,702
Net book value
At 31 October 2477119,3749120,236
At 31 October 23-10,62512110,746
6.Stocks

2024

2023

££
Work in progress111,98965,568
Finished goods10,09210,086
Total122,08175,654
7.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables40,62753,912
Prepayments and accrued income4,7145,523
Total45,34159,435
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables37,63637,958
Bank borrowings and overdrafts-4,456
Taxation and social security26,99931,894
Other creditors954494
Accrued liabilities and deferred income2,6152,660
Total68,20477,462
9.Provisions for liabilities
Net Deferred Tax Liability: £4,507

2024

2023

££
Net deferred tax liability (asset)4,5072,268
Total4,5072,268
10.Operating lease commitments
The total amount of operating lease commitments not included in the balance sheet is £5,500 due within 1 year, and £22,000 due within 2-5 years (2023: £4,620).
11.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
JERMAN, Brian Michael194700540354
JERMAN, Jack3003000600
4941,000540954
12.Controlling party
The ultimate controlling party is M BM Jerman (director) and Mrs AD Jerman