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REGISTERED NUMBER: SC316258 (Scotland)















Unaudited Financial Statements

for the Year Ended 28 February 2025

for

Stephen Duncan Heating & Plumbing
Services Ltd.

Stephen Duncan Heating & Plumbing
Services Ltd. (Registered number: SC316258)






Contents of the Financial Statements
for the Year Ended 28 February 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stephen Duncan Heating & Plumbing
Services Ltd.

Company Information
for the Year Ended 28 February 2025







DIRECTOR: S Duncan





REGISTERED OFFICE: 7 North Street
Rosehearty
Fraserburgh
Aberdeenshire
AB43 7NT





REGISTERED NUMBER: SC316258 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

Stephen Duncan Heating & Plumbing
Services Ltd. (Registered number: SC316258)

Balance Sheet
28 February 2025

28.2.25 29.2.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,346 23,114

CURRENT ASSETS
Stocks 3,600 3,600
Debtors 5 82,857 41,167
Cash at bank 70,940 113,306
157,397 158,073
CREDITORS
Amounts falling due within one year 6 55,626 55,876
NET CURRENT ASSETS 101,771 102,197
TOTAL ASSETS LESS CURRENT
LIABILITIES

119,117

125,311

CREDITORS
Amounts falling due after more than one
year

7

(2,861

)

(8,746

)

PROVISIONS FOR LIABILITIES (3,296 ) (4,993 )
NET ASSETS 112,960 111,572

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 112,957 111,569
112,960 111,572

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

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.

Stephen Duncan Heating & Plumbing
Services Ltd. (Registered number: SC316258)

Balance Sheet - continued
28 February 2025


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 July 2025 and were signed by:





S Duncan - Director


Stephen Duncan Heating & Plumbing
Services Ltd. (Registered number: SC316258)

Notes to the Financial Statements
for the Year Ended 28 February 2025

1. STATUTORY INFORMATION

Stephen Duncan Heating & Plumbing Services Ltd. is a private company, limited by shares , registered in Scotland. 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 represents the amounts (excluding value added tax) derived from the provision of goods and services to customers. Revenue is recognised at the point of sale of goods and the point services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

Stephen Duncan Heating & Plumbing
Services Ltd. (Registered number: SC316258)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2024 1,866 63,224 3,239 68,329
Disposals - - (622 ) (622 )
At 28 February 2025 1,866 63,224 2,617 67,707
DEPRECIATION
At 1 March 2024 1,679 40,297 3,239 45,215
Charge for year 37 5,731 - 5,768
Eliminated on disposal - - (622 ) (622 )
At 28 February 2025 1,716 46,028 2,617 50,361
NET BOOK VALUE
At 28 February 2025 150 17,196 - 17,346
At 29 February 2024 187 22,927 - 23,114

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Trade debtors 56,510 26,199
Other debtors 26,347 14,968
82,857 41,167

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Bank loans and overdrafts 5,849 5,638
Trade creditors 21,190 18,443
Taxation and social security 21,033 27,500
Other creditors 7,554 4,295
55,626 55,876

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.25 29.2.24
£    £   
Bank loans 2,861 8,746

Stephen Duncan Heating & Plumbing
Services Ltd. (Registered number: SC316258)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

8. RELATED PARTY DISCLOSURES

The company made a loan to Coastal Properties Scotland Limited, a company which is an associate of Stephen Duncan Heating Ltd. The loan was for £25,000 and the balance outstanding at the balance sheet date is £8,709.66. Interest is being charged at 2.5% and the loan is repayable over 5 years to 28 February 2027.

There was a further loan advance of £10,000 to Coastal Properties Scotland Limited on 8 January 2025. This loan is interest free and there are no specific terms of repayment.