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COMPANY REGISTRATION NUMBER: 04575943
K S Burrow Plumbing & Heating Ltd
Filleted Unaudited Financial Statements
31 October 2024
K S Burrow Plumbing & Heating Ltd
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
4,432
5,672
Current assets
Stocks
4,700
4,700
Debtors
6
15,268
19,073
Cash at bank and in hand
7,123
--------
--------
27,091
23,773
Creditors: amounts falling due within one year
7
28,043
24,677
--------
--------
Net current liabilities
952
904
-------
-------
Total assets less current liabilities
3,480
4,768
Creditors: amounts falling due after more than one year
8
1,800
3,600
Provisions
842
1,078
-------
-------
Net assets
838
90
-------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
836
88
----
----
Shareholders funds
838
90
----
----
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 income and retained earnings has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
K S Burrow Plumbing & Heating Ltd
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 27 June 2025 , and are signed on behalf of the board by:
Mr K S Burrow
Director
Company registration number: 04575943
K S Burrow Plumbing & Heating Ltd
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Gielgud Close, Burnham on Sea, Somerset, TA8 1RH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
Straight Line over 5 Years
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
Straight Line over 5 Years
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Particulars of employees
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Short leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Nov 2023
874
7,555
956
10,135
965
20,485
Additions
191
191
Disposals
( 4,000)
( 4,000)
----
-------
----
--------
-------
--------
At 31 Oct 2024
874
3,555
956
10,135
1,156
16,676
----
-------
----
--------
-------
--------
Depreciation
At 1 Nov 2023
874
6,707
703
5,859
670
14,813
Charge for the year
202
38
1,069
122
1,431
Disposals
( 4,000)
( 4,000)
----
-------
----
--------
-------
--------
At 31 Oct 2024
874
2,909
741
6,928
792
12,244
----
-------
----
--------
-------
--------
Carrying amount
At 31 Oct 2024
646
215
3,207
364
4,432
----
-------
----
--------
-------
--------
At 31 Oct 2023
848
253
4,276
295
5,672
----
-------
----
--------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
13,612
17,622
Other debtors
1,656
1,451
--------
--------
15,268
19,073
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,800
6,068
Trade creditors
7,346
3,861
Corporation tax
9,224
6,006
Social security and other taxes
5,474
4,436
Other creditors
4,199
4,306
--------
--------
28,043
24,677
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,800
3,600
-------
-------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr K S Burrow
( 877)
576
( 301)
----
----
----
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr K S Burrow
( 60)
( 817)
( 877)
----
----
----