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Registered number: 05809376
A G S Heating and Plumbing Limited
Unaudited Financial Statements
For The Year Ended 31 May 2025
Marsden and Co.
Oswaldtwistle Mills Business Centre
Clifton Mill, Pickup Street
Accrington
BB5 0EY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05809376
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,721 7,302
11,721 7,302
CURRENT ASSETS
Debtors 5 460 8,628
Cash at bank and in hand 23,333 55,703
23,793 64,331
Creditors: Amounts Falling Due Within One Year 6 (28,991 ) (40,046 )
NET CURRENT ASSETS (LIABILITIES) (5,198 ) 24,285
TOTAL ASSETS LESS CURRENT LIABILITIES 6,523 31,587
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,227 ) (1,387 )
NET ASSETS 4,296 30,200
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 4,294 30,198
SHAREHOLDERS' FUNDS 4,296 30,200
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For the year ending 31 May 2025 the company was entitled to exemption from audit 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr N A Walmsley
Director
Mr C I Yates
Director
9 September 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
A G S Heating and Plumbing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05809376 . The registered office is Oswaldtwistle Mills Business Centre, Clifton Mill, Pickup Street, Oswaldtwistle, BB5 0EY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Significant judgements and estimations
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Equipment 15% reducing balance
2.5. Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangements, as either financial assets, financial liabilities or equity instruments.  An equity instrument is any contract that evidences as a residual interest in the assets of the company after deducting all of its liabilities.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Motor Vehicles Equipment Total
£ £ £
Cost
As at 1 June 2024 19,495 6,771 26,266
Additions 8,995 261 9,256
Disposals (7,000 ) - (7,000 )
As at 31 May 2025 21,490 7,032 28,522
Depreciation
As at 1 June 2024 14,296 4,668 18,964
Provided during the period 3,237 354 3,591
Disposals (5,754 ) - (5,754 )
As at 31 May 2025 11,779 5,022 16,801
...CONTINUED
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Net Book Value
As at 31 May 2025 9,711 2,010 11,721
As at 1 June 2024 5,199 2,103 7,302
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 370 8,538
Other taxes and social security 90 90
460 8,628
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Other creditors 27,253 25,512
Taxation and social security 1,738 14,534
28,991 40,046
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2 2
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