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Company registration number: 06742095
TURNERS PLUMBING ENGINEERS LTD
30 November 2024
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
TURNERS PLUMBING ENGINEERS LTD
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
TURNERS PLUMBING ENGINEERS LTD
DIRECTORS AND OTHER INFORMATION
Director Mr L A Turner
Secretary Mrs J Fleet
Company number 06742095
Registered office Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
Business address 4 Pontesford Hill
Pontesford
Shrewsbury
Shropshire
SY5 0UH
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
TURNERS PLUMBING ENGINEERS LTD
CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TURNERS PLUMBING ENGINEERS LTD
YEAR ENDED 30TH NOVEMBER 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Turners Plumbing Engineers Ltd for the year ended 30 November 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Turners Plumbing Engineers Ltd, as a body, in accordance with the terms of our engagement letter dated 17 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Turners Plumbing Engineers Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Turners Plumbing Engineers Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Turners Plumbing Engineers Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Turners Plumbing Engineers Ltd. You consider that Turners Plumbing Engineers Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Turners Plumbing Engineers Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
5 April 2025
TURNERS PLUMBING ENGINEERS LTD
STATEMENT OF FINANCIAL POSITION
30TH NOVEMBER 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 32,690 38,168
Investments 6 476,802 294,757
_______ _______
509,492 332,925
Current assets
Stocks 129,734 74,555
Debtors 7 453,230 474,205
Cash at bank and in hand 119,367 302,700
_______ _______
702,331 851,460
Creditors: amounts falling due
within one year 8 ( 280,476) ( 196,003)
_______ _______
Net current assets 421,855 655,457
_______ _______
Total assets less current liabilities 931,347 988,382
Creditors: amounts falling due
after more than one year 9 ( 15,473) ( 44,181)
Provisions for liabilities ( 38,093) ( 31,451)
_______ _______
Net assets 877,781 912,750
_______ _______
Capital and reserves
Called up share capital 3 3
Profit and loss account 877,778 912,747
_______ _______
Shareholders funds 877,781 912,750
_______ _______
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
Mr L A Turner
Director
Company registration number: 06742095
TURNERS PLUMBING ENGINEERS LTD
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 30TH NOVEMBER 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 December 2022 3 942,137 942,140
Profit for the year 60,610 60,610
_______ _______ _______
Total comprehensive income for the year - 60,610 60,610
Dividends paid and payable ( 90,000) ( 90,000)
_______ _______ _______
Total investments by and distributions to owners - ( 90,000) ( 90,000)
_______ _______ _______
At 30 November 2023 and 1 December 2023 3 912,747 912,750
Profit for the year 103,031 103,031
_______ _______ _______
Total comprehensive income for the year - 103,031 103,031
Dividends paid and payable ( 138,000) ( 138,000)
_______ _______ _______
Total investments by and distributions to owners - ( 138,000) ( 138,000)
_______ _______ _______
At 30 November 2024 3 877,778 877,781
_______ _______ _______
TURNERS PLUMBING ENGINEERS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30TH NOVEMBER 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Countrywide House, Knights Way, Shrewsbury, Shropshire, SY1 3AB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stock and work-in-progress is included at the lower of cost or estimated selling price less costs to complete and sell.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 8 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 December 2023 5,778 6,722 73,451 85,951
Additions 4,225 - - 4,225
Disposals ( 577) - ( 10,424) ( 11,001)
_______ _______ _______ _______
At 30 November 2024 9,426 6,722 63,027 79,175
_______ _______ _______ _______
Depreciation
At 1 December 2023 2,622 4,907 40,257 47,786
Charge for the year 687 272 8,226 9,185
Disposals ( 351) - ( 10,135) ( 10,486)
_______ _______ _______ _______
At 30 November 2024 2,958 5,179 38,348 46,485
_______ _______ _______ _______
Carrying amount
At 30 November 2024 6,468 1,543 24,679 32,690
_______ _______ _______ _______
At 30 November 2023 3,156 1,815 33,194 38,165
_______ _______ _______ _______
6. Investments
Other investments other than loans Total
£ £
Cost or valuation
At 1 December 2023 444,757 444,757
Disposals ( 2,741) ( 2,741)
Revaluations 34,786 34,786
_______ _______
At 30 November 2024 476,802 476,802
_______ _______
Impairment
At 1 December 2023 and 30 November 2024 - -
_______ _______
Carrying amount
At 30 November 2024 476,802 476,802
_______ _______
At 30 November 2023 444,757 444,757
_______ _______
7. Debtors
2024 2023
£ £
Trade debtors 164,010 187,356
Other debtors 289,220 286,849
_______ _______
453,230 474,205
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 30,450 27,411
Trade creditors 147,365 120,943
Corporation tax 26,515 1,458
Social security and other taxes 11,263 30,288
Other creditors 64,883 15,903
_______ _______
280,476 196,003
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 15,473 44,181
_______ _______
10. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr L A Turner ( 6,485) - 5,648 ( 837)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr L A Turner ( 474) ( 6,011) - ( 6,485)
_______ _______ _______ _______