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Registration number: 12813280

Piran Plumbing Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Piran Plumbing Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 8

Piran Plumbing Ltd

Company Information

Director | Mr B Keogh

Registered office | 15 Alverton Street Penzance Cornwall TR18 2QP

Accountants | D.J. Reynolds & Co 15 Alverton Street Penzance Cornwall TR18 2QP

Piran Plumbing Ltd

(Registration number: 12813280)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 50,225 | 40,752
Current assets |  |  |
Stocks | 5 | 18,000 | 13,000
Debtors | 6 | 105,587 | 45,183
Cash at bank and in hand |  | 312,417 | 307,857
|  | 436,004 | 366,040
Creditors: Amounts falling due within one year | 7 | (52,208) | (65,413)
Net current assets |  | 383,796 | 300,627
Total assets less current liabilities |  | 434,021 | 341,379
Creditors: Amounts falling due after more than one year | 7 | (7,180) | (13,761)
Provisions for liabilities |  | (9,543) | (10,188)
Net assets |  | 417,298 | 317,430
Capital and reserves |  |  |
Called up share capital | 8 | 100 | 100
Retained earnings |  | 417,198 | 317,330
Shareholders' funds |  | 417,298 | 317,430

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 November 2025

......................................... Mr B Keogh Director

Piran Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:
15 Alverton Street
Penzance
Cornwall
TR18 2QP

The principal place of business is:
Unit 6A
Longrock Industrial Estate
Longrock
Penzance
Cornwall
TR20 8HX

These financial statements were authorised for issue by the director on 21 November 2025.

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 presentational currency in these financial staements is pounds sterling £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

Piran Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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 balance sheet 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
Plant and machinery | 15% Reducing balance
Office equipment | 15% Reducing balance
Motor vehicles | 15% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Piran Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2024 - 6).

Piran Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4 | Tangible assets

| Office equipment £ | Motor vehicles £ | Other tangible assets £ | Total £
Cost or valuation
At 1 April 2024 | 1,128 | 54,959 | 8,989 | 65,076
Additions | - | 16,395 | 1,942 | 18,337
At 31 March 2025 | 1,128 | 71,354 | 10,931 | 83,413
Depreciation
At 1 April 2024 | 539 | 19,489 | 4,296 | 24,324
Charge for the year | 88 | 7,780 | 996 | 8,864
At 31 March 2025 | 627 | 27,269 | 5,292 | 33,188
Carrying amount
At 31 March 2025 | 501 | 44,085 | 5,639 | 50,225
At 31 March 2024 | 589 | 35,470 | 4,693 | 40,752

5 | Stocks

| 2025 £ | 2024 £
Consumables | 3,000 | 3,000
Work in progress | 15,000 | 10,000
| 18,000 | 13,000

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 45,794 | 16,170
Prepayments | 3,067 | 747
Other debtors | 56,726 | 28,266
| 105,587 | 45,183

Piran Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 6,581 | 6,581
Taxation and social security |  | 43,131 | 56,806
Accruals and deferred income |  | 2,275 | 1,825
Other creditors |  | 221 | 201
|  | 52,208 | 65,413

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 7,180 | 13,761

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Share Capital of £1 each | 100 | 100 | 100 | 100

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Hire purchase contracts | 7,180 | 13,761

Current loans and borrowings

| 2025 £ | 2024 £
Hire purchase contracts | 6,581 | 6,581

Piran Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

10 | Related party transactions

Transactions with the director

2025 | At 1 April 2024 £ | Advances to director £ | Repayments by director £ | At 31 March 2025 £
Mr B Keogh
Interest-free loan, repayable on demand | 28,266 | 55,063 | (28,812) | 54,517

2024 | At 1 April 2023 £ | Advances to director £ | Repayments by director £ | At 31 March 2024 £
Mr B Keogh
Interest-free loan, repayable on demand | 31,524 | 28,654 | (31,912) | 28,266