REGISTERED NUMBER: 02573059 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

UPFIELDS PLUMBING & HEATING CONTRACTORS

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G J Bailey

REGISTERED OFFICE:

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

REGISTERED NUMBER:

02573059 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Ltd

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Tangible assets

4

42,255

55,981

CURRENT ASSETS

Stocks

54,238

54,244

Debtors

5

355,008

371,539

Cash at bank

187,419

76,445

596,665

502,228

CREDITORS

Amounts falling due within one year

6

(301,724

)

(231,701

)

NET CURRENT ASSETS

294,941

270,527

TOTAL ASSETS LESS CURRENT LIABILITIES

337,196

326,508

PROVISIONS FOR LIABILITIES

-

(1,763

)

NET ASSETS

337,196

324,745

CAPITAL AND RESERVES

Called up share capital

7

133

133

Share premium

12,467

12,467

Retained earnings

324,596

312,145

SHAREHOLDERS' FUNDS

337,196

324,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 October 2025 and were signed by:

G J Bailey - Director

1.	STATUTORY INFORMATION

Upfields Plumbing & Heating Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from bank and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at the amortised cost using the effective interest method

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is no intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

23,812

116,478

49,638

189,928

Additions

-

-

583

583

At 31 March 2025

23,812

116,478

50,221

190,511

DEPRECIATION

At 1 April 2024

22,530

62,863

48,554

133,947

Charge for year

193

13,404

712

14,309

At 31 March 2025

22,723

76,267

49,266

148,256

NET BOOK VALUE

At 31 March 2025

1,089

40,211

955

42,255

At 31 March 2024

1,282

53,615

1,084

55,981

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

75,457

80,912

Amounts owed by group undertakings

75,833

20,933

Other debtors

203,718

269,694

355,008

371,539

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

205,906

142,519

Taxation and social security

78,252

69,904

Other creditors

17,566

19,278

301,724

231,701

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

10,000

A Ordinary

1p

100

100

3,333

B Ordinary

1p

33

33

133

133

8.	RELATED PARTY DISCLOSURES

At the year end a balance of £75,833.22 (2024 - £20,933.30) was due from Bailey Holdings (Sussex) Ltd a company in which Mr G Bailey is sole director and shareholder of.

At the year end a balance of £100 (2024 - £100) was due to Broadview Builders Limited, a company in which Mr G Bailey is a director and 50% shareholder.

All transactions were at arms length.