2023-11-012024-10-312024-10-31false14423913Goode Plumbing and Heating 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Goode Plumbing and Heating Ltd

Registered Number
14423913
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

Goode Plumbing and Heating Ltd
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

GOODE, Brandon
LAWRENCE, Sarah Jane

Registered Address

Unit 2a The Hyde
Unit 2athe Hyde
Brighton
BN2 4JE

Registered Number

14423913 (England and Wales)
Goode Plumbing and Heating Ltd
Statement of Financial Position
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets430,06312,187
30,06312,187
Current assets
Debtors49,11948,332
Cash at bank and on hand12,7815,131
61,90053,463
Creditors amounts falling due within one year5(73,564)(59,980)
Net current assets (liabilities)(11,664)(6,517)
Total assets less current liabilities18,3995,670
Creditors amounts falling due after one year6(16,557)-
Provisions for liabilities8(1,814)(2,315)
Net assets283,355
Capital and reserves
Called up share capital11
Profit and loss account273,354
Shareholders' funds283,355
The financial statements were approved and authorised for issue by the Board of Directors on 22 July 2025, and are signed on its behalf by:
GOODE, Brandon
Director
Registered Company No. 14423913
Goode Plumbing and Heating Ltd
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.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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)
Vehicles3
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year75
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.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 November 2331612,20091013,426
Additions-23,55072824,278
At 31 October 2431635,7501,63837,704
Depreciation and impairment
At 01 November 23709202491,239
Charge for year1055,7645336,402
At 31 October 241756,6847827,641
Net book value
At 31 October 2414129,06685630,063
At 31 October 2324611,28066112,187
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables32,32129,675
Taxation and social security31,67713,571
Payments received on account-84
Other creditors9,56616,650
Total73,56459,980
Last year, other creditors included £13,942 owed to the directors. No interest was charged on this loan.
6.Creditors: amounts due after one year

2024

2023

££
Other creditors16,557-
Total16,557-
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts16,557-
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,8142,315
Total1,8142,315
9.Pension commitments
The company operates a defined contribution pension scheme for the directors and employees, operated by NEST under Auto-enrolment. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £432 (2023 £615) were due to the fund. They are included in other creditors.
10.Share capital
The company's £1 share capital is made up of 100 ordinary shares of 1p each. The share capital is fully paid up.