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Company registration number: 8731805
Essex Heating & Plumbing Ltd
Unaudited filleted financial statements
31 October 2024
Essex Heating & Plumbing Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Essex Heating & Plumbing Ltd
Directors and other information
Director Mr George Palfrey
Company number 8731805
Registered office 1 The Harrows
Harrow Road
North Benfleet
SS12 9JW
Business address 1 The Harrows
Harrow Road
North Benfleet
SS12 9JW
Accountants Hill Allen (Wickford) Ltd
Office 1, Riverside Court
24 Lower Southend Road
Wickford
Essex
SSII 8AW
Bankers Barclays Bank Plc
1 Churchill Place
London
E14 5HP
Essex Heating & Plumbing Ltd
Statement of financial position
31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 25,869 7,526
_______ _______
25,869 7,526
Current assets
Stocks 3,500 3,500
Debtors 6 252,985 131,364
Cash at bank and in hand 167,310 210,229
_______ _______
423,795 345,093
Creditors: amounts falling due
within one year 7 ( 123,670) ( 90,271)
_______ _______
Net current assets 300,125 254,822
_______ _______
Total assets less current liabilities 325,994 262,348
Provisions for liabilities ( 6,621) ( 2,035)
_______ _______
Net assets 319,373 260,313
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 319,273 260,213
_______ _______
Shareholder funds 319,373 260,313
_______ _______
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.
Director's responsibilities:
- The member has 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 income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 April 2025 , and are signed on behalf of the board by:
Mr George Palfrey
Director
Company registration number: 8731805
Essex Heating & Plumbing 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 add Wales. The address of the registered office is 1 The Harrows, Harrow Road, North Benfleet, SS12 9JW.
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 in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
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.
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. 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
Plant and machinery - 20 % straight line
Fittings fixtures and equipment - 20 % straight line
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their 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 in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 5,187 2,433 37,141 44,761
Additions - 433 26,538 26,971
_______ _______ _______ _______
At 31 October 2024 5,187 2,866 63,679 71,732
_______ _______ _______ _______
Depreciation
At 1 November 2023 4,622 1,475 31,139 37,236
Charge for the year 141 350 8,136 8,627
_______ _______ _______ _______
At 31 October 2024 4,763 1,825 39,275 45,863
_______ _______ _______ _______
Carrying amount
At 31 October 2024 424 1,041 24,404 25,869
_______ _______ _______ _______
At 31 October 2023 565 958 6,002 7,525
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 228,918 114,873
Other debtors 24,067 16,491
_______ _______
252,985 131,364
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 1,269 2,151
Trade creditors 37,386 23,726
Corporation tax 18,443 16,688
Social security and other taxes 9,627 3,641
Other creditors 56,945 44,065
_______ _______
123,670 90,271
_______ _______
8. Controlling party
The company is controlled by the director G Palfrey by reason of their shareholding.