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SC616732falsePlumbing, heat and air condtioning installation2024-01-012024-12-31http://www.companieshouse.gov.uk/2023-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2023-12-31http://www.companieshouse.gov.uk/cd:Director12024-01-012024-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2024-12-31http://www.companieshouse.gov.uk/cd:Director22024-01-012024-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12024-01-012024-12-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2024-01-012024-12-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2024-01-012024-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-12-31http://www.companieshouse.gov.uk/2024-01-012024-12-31http://www.companieshouse.gov.uk/2023-12-31http://www.companieshouse.gov.uk/cd:FRS1022024-01-012024-12-31http://www.companieshouse.gov.uk/2024-12-31http://www.companieshouse.gov.uk/cd:FullAccounts2024-01-012024-12-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2024-01-012024-12-31iso4217:GBPxbrli:sharesxbrli:pure


Registered number: SC616732






Kenneth Soutar Plumbing and Heating Ltd


FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024
























Prepared By:
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ


FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024





DIRECTORS
Kenneth Soutar
Susan Soutar


REGISTERED OFFICE
Unit G6
The Granary Business Centre
Coal Road
Cupar
KY15 5YQ


COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC616732



ACCOUNTANTS
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ


FINANCIAL STATEMENTS
FOR THEYEARENDED31 DECEMBER 2024



CONTENTS



		Page

Directors' Report		-

Accountants' Report		-

Statement Of Comprehensive Income		-

Balance Sheet		3

Notes To The Accounts		4


The following do not form part of the statutory financial statements:

Trading And Profit And Loss Account		-

Profit And Loss Account Summaries		-


BALANCE SHEET AT 31 December 2024

			2024		2023
	Notes		£		£

FIXED ASSETS
Tangible assets	3		60,740		53,660

CURRENT ASSETS
Stock		1,000		1,000
Debtors	4	83,563		96,999
Cash at bank and in hand		145,580		98,622
		230,143		196,621
CREDITORS: Amounts falling due within one year	5	122,272		98,180
NET CURRENT ASSETS			107,871		98,441
TOTAL ASSETS LESS CURRENT LIABILITIES			168,611		152,101


CREDITORS: Amounts falling due after more than one year	6		17,010		25,803


PROVISIONS FOR LIABILITIES AND CHARGES			15,094		13,289

NET ASSETS			136,507		113,009

CAPITAL AND RESERVES

Called up share capital	8		100		100
Profit and loss account			136,407		112,909
SHAREHOLDERS' FUNDS			136,507		113,009

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.

Approved by the board on 18 September 2025 and signed on their behalf by



.............................
Kenneth Soutar
Director



1a. General Information & Basis of Accounting
The company is limited by shares and incorporated in Scotland. The address of the registered office is given in the company information on page 1 of these financial statements.
The financial statements have been prepared in accordance with Financial Reporting Standard FRS 102 including Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard.
The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise shown.



1b. Turnover
Turnover represents the amounts receivable arising from the supply of goods net of VAT and trade discounts.
Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Turnover is recognised as the fair value of the consideration received or receivable for services provided in the normal course of business, net of VAT and trade discounts.



1c. Tangible Fixed Assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation has been provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land And Buildings		straight line15%
Commercial Vehicles		reducing balance25%
Equipment		reducing balance20%



1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.



1e. Cash And Cash Equivalents
Cash and cash equivalents are basic financial instruments which include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.



1f. Financial Instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.



1g. Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.



1h. Leases and hire purchase agreements
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets acquired under hire purchase contracts and finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.
Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the term of the lease.



1i. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.



1j. Critical Accounting Estimates And Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period, or in the period of the revision and future periods where the revision affects both current and future periods.



3. TANGIBLE FIXED ASSETS

	Land And	Plant and
	Buildings	Machinery Etc.	Total
	£	£	£
Cost
At 1 January 2024	917	107,445	108,362
Additions	-	28,241	28,241
Disposals	-	(5,172)	(5,172)
At 31 December 2024	917	130,514	131,431
Depreciation
At 1 January 2024	414	54,288	54,702
Disposals	-	(3,843)	(3,843)
For the year	138	19,694	19,832
At 31 December 2024	552	70,139	70,691
Net Book Amounts
At 31 December 2024	365	60,375	60,740
At 31 December 2023	503	53,157	53,660



2. EMPLOYEES

	2024	2023
	No.	No.
Average number of employees	6	6



6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
	2024	2023
	£	£
Bank loans and overdrafts	5,331	15,655
Other creditors	11,679	10,148
	17,010	25,803


Included in other creditors are:
Obligations under finance leases	11,679	10,148



4. DEBTORS	2024	2023
	£	£

Amounts falling due within one year:
Trade debtors	71,823	91,572
VAT	10,187	3,920
Other debtors	1,553	1,507
	83,563	96,999



5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2024	2023
	£	£
Bank loans and overdrafts	10,333	10,130
Trade creditors	69,779	56,550
Taxation and social security	26,766	17,225
Other creditors	15,394	14,275
	122,272	98,180

Included within other creditors are obligations under finance leases	9,074	6,767



7. SECURED CREDITORS
	2024	2023
	£	£
Amount of other creditors which are secured	20,753	16,915

Included in other creditors are obligations under hire purchase contracts secured over commercial vehicles in the company.



8. SHARE CAPITAL	2024	2023
	£	£
Allotted, issued and fully paid:
100 Ordinary shares of £1 each	100	100
	100	100