Castle Plumbing & Heating Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 7

Castle Plumbing & Heating Limited

(Registration number: 03414075)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	5,399	7,169
Current assets
Stocks	6	500	1,000
Debtors	7	203,203	244,121
Cash at bank and in hand		59,074	4,408
		262,777	249,529
Creditors: Amounts falling due within one year	8	(94,732)	(111,709)
Net current assets		168,045	137,820
Total assets less current liabilities		173,444	144,989
Provisions for liabilities		(1,350)	(1,792)
Net assets		172,094	143,197
Capital and reserves
Called up share capital		2	2
Profit and loss account		172,092	143,195
Shareholders' funds		172,094	143,197

For the financial year ending 31 December 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 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 24 September 2025 and signed on its behalf by:
 

P M Williams Company secretary and director

Castle Plumbing & Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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:
Plym House
3 Longbridge Road
Plymouth
Marsh Mills
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of plumbing, heat and air-conditioning 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

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the work done in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Castle Plumbing & Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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
Fittings, fixtures and equipment	25% straight line
Motor vehicles	25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

Castle Plumbing & Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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 3 (2023 - 2).

Castle Plumbing & Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	100,000	100,000
At 31 December 2024	100,000	100,000
Amortisation
At 1 January 2024	100,000	100,000
At 31 December 2024	100,000	100,000
Carrying amount
At 31 December 2024	-	-

5	Tangible assets

	Fixtures and fittings £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	1,603	26,375	27,978
Additions	341	-	341
Disposals	(540)	-	(540)
At 31 December 2024	1,404	26,375	27,779
Depreciation
At 1 January 2024	1,050	19,759	20,809
Charge for the year	322	1,654	1,976
Eliminated on disposal	(405)	-	(405)
At 31 December 2024	967	21,413	22,380
Carrying amount
At 31 December 2024	437	4,962	5,399
At 31 December 2023	553	6,616	7,169

6

Stocks

	2024 £	2023 £
Finished goods and goods for resale	500	1,000

Castle Plumbing & Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

7

Debtors

	2024 £	2023 £
Trade debtors	150,120	190,716
Other debtors	50,501	52,174
Prepayments	2,582	1,231
	203,203	244,121

8

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Trade creditors	53,336	67,550
Taxation and social security	37,004	33,033
Accruals and deferred income	4,025	1,549
Other creditors	367	9,577
	94,732	111,709

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Castle Plumbing & Heating Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

10	Related party transactions

Transactions with directors

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

2024	At 1 January 2024 £	Advances /(credits) to directors £	At 31 December 2024 £
The directors	33,272	(14,122)	19,150

2023	At 1 January 2023 £	Advances /(credits) to directors £	At 31 December 2023 £
The directors	36,352	(3,080)	33,272