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Registered number: 11352549
H20 Plumbing 'N' Heating Limited
Unaudited Financial Statements
For The Year Ended 31 May 2025
Riverglade Accountancy Ltd
74 Yr Aran
Dunvant
Swansea
SA2 7PX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11352549
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 43,687 30,915
43,687 30,915
CURRENT ASSETS
Debtors 5 31,171 40,502
Cash at bank and in hand 43,046 30,232
74,217 70,734
Creditors: Amounts Falling Due Within One Year 6 (66,378 ) (30,704 )
NET CURRENT ASSETS (LIABILITIES) 7,839 40,030
TOTAL ASSETS LESS CURRENT LIABILITIES 51,526 70,945
Creditors: Amounts Falling Due After More Than One Year 7 (1,923 ) (4,000 )
NET ASSETS 49,603 66,945
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 49,602 66,944
SHAREHOLDERS' FUNDS 49,603 66,945
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 E F Ross
Director
08/10/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
H20 Plumbing 'N' Heating Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11352549 . The registered office is 5 Doyle Avenue, Fairwater, Cardiff, CF5 3HS.
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. 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.
2.3. 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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.4. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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: 5 (2024: 5)
5 5
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2024 2,470 41,403 796 44,669
Additions - 27,167 - 27,167
As at 31 May 2025 2,470 68,570 796 71,836
Depreciation
As at 1 June 2024 2,031 11,228 495 13,754
Provided during the period 110 14,210 75 14,395
As at 31 May 2025 2,141 25,438 570 28,149
Net Book Value
As at 31 May 2025 329 43,132 226 43,687
As at 1 June 2024 439 30,175 301 30,915
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 1,044 1,817
Other debtors 21,675 25,076
Other taxes and social security 5,044 9,385
Net wages 3,408 4,224
31,171 40,502
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 8,012 -
Bank loans and overdrafts 17,142 -
Corporation tax - 2,589
Other creditors 41,224 28,115
66,378 30,704
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 1,923 4,000
8. Share Capital
2025 2024
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1.00 each 1 1
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Page 5
9. Dividends
2025 2024
£ £
On equity shares:
Final dividend paid 500 500
Page 5