Registration number:
Barkwell Plumbing & Heating Limited
for the Year Ended 30 June 2025
Registration number:
Barkwell Plumbing & Heating Limited
for the Year Ended 30 June 2025
Barkwell Plumbing & Heating Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Statement of Comprehensive Income |
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Statement of Financial Position |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
Barkwell Plumbing & Heating Limited
Company Information
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Directors |
C Barkwell M Domaille R Bowden |
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Registered office |
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Auditors |
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Barkwell Plumbing & Heating Limited
Strategic Report for the Year Ended 30 June 2025
The directors present their strategic report for the year ended 30 June 2025.
Fair review of the business
The performance of the company is as detailed in the Statement of Comprehensive Income on page 9. The directors are pleased to report turnover of £19.3m (2024: £16.3m) for the year.
The company made an operating profit in the year of £496k (2024: £269k) before amortisation of goodwill of £342k (2024: £342k). Profit for the year after tax was £411k (2024: £247k) before amortisation of goodwill of £342k (2024: £342k).
The goodwill charge of £342k relates to accounting goodwill created when the previous unincorporated business was incorporated in 2016. It is not part of the operating costs of the business and has no cash impact. It is an accounting charge required by accounting standards. The goodwill is being amortised over ten years and as at 30 June 2025 £427k of the original value of £3.4m remains to be amortised.
The directors are satisfied with the performance of the company during the year.
The net assets of the company as at 30 June 2025 are set out on page 10 and show a net asset position of £3.2m (2024: £3.1m).
The gross profit margin of the company was 14.8% (2024: 15.5%).
On 19 March 2025 the company passed a special resolution to reduce the share premium account by £3,999,900 and to increase the profit and loss reserves by the same amount.
Subsequent to 30 June 2025 the company has been profitable for the four months to October 2025. The directors have considered the company's funding for the next 12 months and beyond by preparing profit and cashflow forecasts which show that adequate funding is in place.
Principal risks and uncertainties
The directors consider that the nature of the business carried on by the company is straightforward and are of the opinion that further analysis using key performance indicators, over and above the information already presented in these financial statements, is not necessary to gain an understanding of the development, performance or position of the company.
The company assesses its opportunities and risks in the market place including areas such as competition, market trends and health and safety policies in order to maintain and extend its business activities.
Non-financial and sustainability information
Environmental matters
Information about environmental matters, the company's employees, social community and human rights issues has not been provided as the directors do not believe that this is material to gain an understanding of the business.
Barkwell Plumbing & Heating Limited
Strategic Report for the Year Ended 30 June 2025 (continued)
Company employees
Of the three Directors of the company, one is female and two are male.
Approved and authorised by the
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Barkwell Plumbing & Heating Limited
Directors' Report for the Year Ended 30 June 2025
The directors present their report and the financial statements for the year ended 30 June 2025.
Directors of the company
The directors who held office during the year were as follows:
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved and authorised by the
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Barkwell Plumbing & Heating Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Barkwell Plumbing & Heating Limited
Independent Auditor's Report to the Members of Barkwell Plumbing & Heating Limited
Opinion
We have audited the financial statements of Barkwell Plumbing & Heating Limited (the 'company') for the year ended 30 June 2025, which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
Barkwell Plumbing & Heating Limited
Independent Auditor's Report to the Members of Barkwell Plumbing & Heating Limited (continued)
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
Barkwell Plumbing & Heating Limited
Independent Auditor's Report to the Members of Barkwell Plumbing & Heating Limited (continued)
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Plym House
3 Longbridge Road
Plymouth
Devon
PL6 8LT
Barkwell Plumbing & Heating Limited
Statement of Comprehensive Income for the Year Ended 30 June 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit before goodwill amortisation |
496,031 |
269,490 |
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Goodwill amortisation |
( |
( |
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Operating profit/ (loss) after goodwill amortisation |
154,299 |
(72,242) |
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Other interest receivable and similar income |
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Interest payable and similar expenses |
( |
( |
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54,607 |
49,755 |
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Profit/(loss) before tax |
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( |
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Tax on profit/(loss) |
( |
( |
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Profit/(loss) for the financial year |
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( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Barkwell Plumbing & Heating Limited
(Registration number: 10309472)
Statement of Financial Position as at 30 June 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Share premium reserve |
- |
3,999,900 |
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Profit and loss account |
3,206,548 |
(862,582) |
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Shareholders' funds |
3,206,648 |
3,137,418 |
Approved and authorised by the
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Barkwell Plumbing & Heating Limited
Statement of Changes in Equity for the Year Ended 30 June 2025
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Share capital |
Share premium |
Profit and loss account |
Total |
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At 1 July 2024 |
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( |
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Profit for the year |
- |
- |
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Transfers |
- |
- |
3,999,900 |
3,999,900 |
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Other share premium reserve movements |
- |
( |
- |
( |
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At 30 June 2025 |
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- |
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Share capital |
Share premium |
Profit and loss account |
Total |
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At 1 July 2023 |
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( |
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Loss for the year |
- |
- |
( |
( |
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At 30 June 2024 |
100 |
3,999,900 |
(862,582) |
3,137,418 |
Barkwell Plumbing & Heating Limited
Statement of Cash Flows for the Year Ended 30 June 2025
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Note |
2025 |
2024 |
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Cash flows from operating activities |
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Profit/(loss) for the year |
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( |
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Adjustments to cash flows from non-cash items |
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Depreciation and amortisation |
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(Profit)/loss on disposal of tangible assets |
( |
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Finance income |
( |
( |
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Finance costs |
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Income tax expense |
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Working capital adjustments |
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Decrease in stocks |
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Increase in trade debtors |
( |
( |
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Increase in trade creditors |
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Cash generated from operations |
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Income taxes paid |
( |
- |
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Net cash flow from operating activities |
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Cash flows from investing activities |
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Interest received |
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Acquisitions of tangible assets |
( |
( |
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Proceeds from sale of tangible assets |
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Net cash flows from investing activities |
( |
( |
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Cash flows from financing activities |
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Interest paid |
( |
( |
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Proceeds from bank borrowing draw downs |
( |
( |
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Payments to finance lease creditors |
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( |
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Net cash flows from financing activities |
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( |
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Net increase in cash and cash equivalents |
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Cash and cash equivalents at 1 July |
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Cash and cash equivalents at 30 June |
2,649,816 |
2,317,696 |
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Barkwell Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 30 June 2025
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Principal activity
The principal activity of the company is the provision of plumbing and heating services.
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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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
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.
Subsequent to 30 June 2025 the company has been profitable for the four months to October 2025. The directors have considered the company's funding for the next 12 months and beyond by preparing profit and cashflow forecasts which show that adequate funding is in place. The directors have thus continued to adopt the going concern basis of accounting in preparing the annual statements.
Going concern
The financial statements have been prepared on a going concern basis.
Barkwell Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
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Accounting policies (continued) |
Judgements
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 sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.
Contract revenue recognition
Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end.
Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred.
The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.
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.
Barkwell Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
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Accounting policies (continued) |
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:
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Asset class |
Depreciation method and rate |
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Short leasehold property |
Over term of lease |
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Fittings, fixtures and equipment |
15% reducing balance |
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Plant and machinery |
15% reducing balance |
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Motor vehicles |
25% reducing balance |
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Business combinations
Business combinations relating to acquiring control of trade and assets to form one or more businesses are accounted for using the purchase method.
The cost of a business combination is measured at the aggregate of the fair values, at the acquisition date, of assets given, liabilities incurred or assumed, and equity instruments issued plus any costs directly attributable to the business combination.
Where control is achieved in stages, the cost of the business combination is the aggregate of the fair values of the assets given, liabilities incurred or assumed, and equity instruments issued at the date of each transaction in the series.
Where the business combination requires an adjustment to the cost contingent on future events, the estimated amount of that adjustment is included in the cost of the combination at the acquisition date providing it is probable and can be measured reliably. Where it is not recognised at the acquisition date but subsequently becomes probable and can be measured reliably, the additional consideration is treated as an adjustment to the cost of the combination.
Barkwell Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
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Accounting policies (continued) |
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.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
10% straight line |
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
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.
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 statement of comprehensive income 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.
Barkwell Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
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Accounting policies (continued) |
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
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 statement of financial position as a finance lease obligation.
Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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.
Barkwell Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
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Accounting policies (continued) |
Financial instruments
Recognition and measurement
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.
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Turnover |
The analysis of the company's turnover for the year from continuing operations is as follows:
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2025 |
2024 |
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Sale of goods |
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Other gains and losses |
The analysis of the company's other gains and losses for the year is as follows:
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2025 |
2024 |
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Gain/(loss) on disposal of tangible assets |
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( |
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Operating profit |
Arrived at after charging/(crediting)
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2025 |
2024 |
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Depreciation expense |
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Operating lease expense - property |
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Operating lease expense - motor vehicles |
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(Profit)/loss on disposal of property, plant and equipment |
( |
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Other interest receivable and similar income |
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2025 |
2024 |
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Other finance income |
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Barkwell Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
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Interest payable and similar expenses |
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2025 |
2024 |
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Interest on bank overdrafts and borrowings |
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Interest on obligations under finance leases and hire purchase contracts |
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Interest expense on other finance liabilities |
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- |
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
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2025 |
2024 |
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Wages and salaries |
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Social security costs |
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Pension costs, defined contribution scheme |
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Other employee expense |
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The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
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2025 |
2024 |
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Production |
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Administration and support |
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Directors' remuneration |
The directors' remuneration for the year was as follows:
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2025 |
2024 |
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Remuneration |
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- |
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Contributions paid to money purchase schemes |
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- |
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94,303 |
- |
Barkwell Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
|
Taxation |
Tax charged/(credited) in the statement of comprehensive income
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
|
- |
|
127,132 |
34,807 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit/(loss) before tax |
|
( |
|
Corporation tax at standard rate |
|
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
( |
|
Deferred tax expense on origination and reversal of timing differences |
|
|
|
Increase in UK and foreign current tax from adjustment for prior periods |
|
- |
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Tax decrease from tax losses utilised |
- |
( |
|
Total tax charge |
|
|
Barkwell Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
|
Intangible assets |
|
Goodwill |
Total |
|
|
Cost or valuation |
||
|
At 1 July 2024 |
|
|
|
At 30 June 2025 |
|
|
|
Amortisation |
||
|
At 1 July 2024 |
|
|
|
Amortisation charge |
|
|
|
At 30 June 2025 |
|
|
|
Carrying amount |
||
|
At 30 June 2025 |
|
|
|
At 30 June 2024 |
|
|
|
Tangible assets |
|
Short leasehold property |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
Total |
|
|
Cost or valuation |
|||||
|
At 1 July 2024 |
|
|
|
|
|
|
Additions |
|
|
|
|
|
|
Disposals |
- |
- |
- |
( |
( |
|
At 30 June 2025 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 July 2024 |
- |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
- |
- |
( |
( |
|
At 30 June 2025 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 30 June 2025 |
|
|
|
|
|
|
At 30 June 2024 |
|
|
|
|
|
Barkwell Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
|
13 |
Tangible assets (continued) |
Included within the net book value of land and buildings above is £401,821 (2024 - £321,625) in respect of short leasehold land and buildings.
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2025 |
2024 |
|
|
Plant and machinery |
- |
28,209 |
|
Motor vehicles |
149,217 |
94,326 |
|
149,217 |
122,535 |
|
Stocks |
|
2025 |
2024 |
|
|
Raw materials and consumables |
|
|
|
Debtors |
|
Current |
2025 |
2024 |
|
Trade debtors |
|
|
|
Amounts owed by group undertakings |
|
|
|
Other debtors |
|
|
|
Prepayments |
|
|
|
Gross amount due from customers for contract work |
|
|
|
|
|
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash at bank |
|
|
Barkwell Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
|
Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Social security and other taxes |
|
|
|
|
Other payables |
|
|
|
|
Accruals |
|
|
|
|
Corporation tax liability |
123,819 |
34,807 |
|
|
|
|
||
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
At 1 July 2024 |
|
|
|
Increase (decrease) in existing provisions |
|
|
|
At 30 June 2025 |
|
|
|
|
||
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
100 |
|
100 |
|
Reserves |
Profit and loss account
This reserve records retained earnings and accumulated losses.
Barkwell Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
|
Loans and borrowings |
Non-current loans and borrowings
|
2025 |
2024 |
|
|
Bank borrowings |
|
|
|
Hire purchase contracts |
|
|
|
|
|
|
Current loans and borrowings
|
2025 |
2024 |
|
|
Bank borrowings |
|
|
|
Hire purchase contracts |
|
|
|
|
|
|
Bank borrowings
|
The bank facilities are secured by a debenture including fixed charge over all present freehold and leasehold property, first fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future, and first floating charge over all assets and undertaking both present and future dated 28 February 2018.
|
Barkwell Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
|
Obligations under leases and hire purchase contracts |
Finance leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Related party transactions |
Key management compensation
|
2025 |
2024 |
|
|
Salaries and other short term employee benefits |
|
|
|
Transactions with directors |
Summary of transactions with all entities with joint control or significant interest
Barkwell Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)
|
Parent and ultimate parent undertaking |
The company's immediate parent is
The parent of the largest group in which these financial statements are consolidated is
The address of Barkwell Properties Limited is:
North Road
Okehampton
Devon
EX20 1AB