Barlow and Smith Plumbing and Heating Services Ltd

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Barlow and Smith Plumbing and Heating Services Ltd

(Registration number: 14791581)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	23,566	28,840
Current assets
Debtors	5	56,432	126,557
Cash at bank and in hand		15,383	-
		71,815	126,557
Creditors: Amounts falling due within one year	6	(49,323)	(97,111)
Net current assets		22,492	29,446
Total assets less current liabilities		46,058	58,286
Creditors: Amounts falling due after more than one year	6	(8,757)	(9,627)
Provisions for liabilities		(5,892)	(7,210)
Net assets		31,409	41,449
Capital and reserves
Called up share capital		100	2
Profit and loss account		31,309	41,447
Shareholders' funds		31,409	41,449

Barlow and Smith Plumbing and Heating Services Ltd

(Registration number: 14791581)
Statement of Financial Position as at 31 March 2025 (continued)

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 5 September 2025 and signed on its behalf by:
 

W Barlow Director

D Smith Director

Barlow and Smith Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
157 Hercules Road
Plymouth
Devon
PL9 8GY

Principal activity

The principal activity of the company is that of plumbing and heating installation.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

The financial statements have been prepared using the historical cost basis.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Barlow and Smith Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

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 dispatch of goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefit will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Current tax is recognised on the 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 between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	20% reducing balance
Office equipment	10 years straight line

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.

Barlow and Smith Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

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 current 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 discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Barlow and Smith Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4	Tangible assets

	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	-	36,050	36,050
Additions	549	-	549
At 31 March 2025	549	36,050	36,599
Depreciation
At 1 April 2024	-	7,210	7,210
Charge for the year	55	5,768	5,823
At 31 March 2025	55	12,978	13,033
Carrying amount
At 31 March 2025	494	23,072	23,566
At 31 March 2024	-	28,840	28,840

5

Debtors

	2025 £	2024 £
Trade debtors	37,699	85,062
Other debtors	18,733	41,495
	56,432	126,557

Barlow and Smith Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Loans and borrowings	3,591	15,896
Trade creditors	25,932	44,335
Taxation and social security	16,887	25,461
Accruals and deferred income	2,150	2,000
Other creditors	763	9,419
	49,323	97,111

Included within loans and borrowings above are finance agreements for the purchase of vehicles. The loans are secured over the assets to which they relate.

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Loans and borrowings	8,757	9,627

Included within loans and borrowings above are finance agreements for the purchase of vehicles. The loans are secured over the assets to which they relate.

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Barlow and Smith Plumbing and Heating Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

8	Related party transactions

Transactions with directors

During the year the directors entered into the following advances and credits with the company:

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
W Barlow
	(4,710)	9,502	(5,174)	(382)
D Smith
	(4,710)	9,502	(5,174)	(382)

2024	At 11 April 2023 £	Advances to director £	Other payments made to company by director £	At 31 March 2024 £
W Barlow
	-	290	(5,000)	(4,710)
D Smith
	-	290	(5,000)	(4,710)