REGISTERED NUMBER: 01998407 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

V & T (Plumbing & Heating Services)

Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A J Rhodes

Mr M R Rhodes

Mr D P Rhodes

Mr A M Ward

REGISTERED OFFICE:

Whaley Road

Barugh

Barnsley

South Yorkshire

S75 1HT

REGISTERED NUMBER:

01998407 (England and Wales)

ACCOUNTANTS:

SMH Reed Smith Ltd

Copia House

Great Cliffe Court

Great Cliffe Road

Barnsley

S75 3SP

BANKERS:

Lloyds Bank Plc

1 High Street

Sheffield

S1 2GA

FIXED ASSETS

Property, plant and equipment

4

231,294

167,549

Investment property

5

1,097,628

1,103,563

1,328,922

1,271,112

CURRENT ASSETS

Inventories

207,912

151,963

Debtors

6

1,654,082

1,623,531

Cash at bank and in hand

1,115,534

1,323,077

2,977,528

3,098,571

CREDITORS

Amounts falling due within one year

7

1,636,539

1,843,435

NET CURRENT ASSETS

1,340,989

1,255,136

TOTAL ASSETS LESS CURRENT LIABILITIES

2,669,911

2,526,248

CREDITORS

Amounts falling due after more than one year

8

(75,128

)

(17,579

)

PROVISIONS FOR LIABILITIES

(65,558

)

(46,813

)

NET ASSETS

2,529,225

2,461,856

CAPITAL AND RESERVES

Called up share capital

54

54

Share premium

150,405

150,405

Capital redemption reserve

46

46

Retained earnings

2,378,720

2,311,351

SHAREHOLDERS' FUNDS

2,529,225

2,461,856

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 directors acknowledge their 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

Mr A J Rhodes - Director

Mr A M Ward - Director

1.	STATUTORY INFORMATION

V & T (Plumbing & Heating Services) 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 as modified by the revaluation of certain assets.

Turnover

Revenue 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to leasehold property

-

10% on cost

Plant and machinery etc

-

33% on cost, 25% on cost and 20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a multi-employer defined benefit pension scheme and a defined contribution pension scheme. Due to the company being unable to identify its share of the assets and liabilities of the multi-employer defined benefit pension scheme, this scheme is accounted for as a defined contribution pension scheme. At the latest actuarial valuation date (5 April 2023) the scheme had a net deficit with a funding level of 99.4%.

Contributions payable to all company pension schemes are charged to profit or loss in the period to which they relate.

Construction contracts

The company sells building services to the construction industry. When the outcome of a transaction for the

rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion, the company recognises revenue on the sales of services in the reporting period in which the services are rendered by reference to the stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion as a proportion of the total services to be rendered.

When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.

Employee benefits

Short-term employee benefits are recognised as an expense in the period in which they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2024 - 37 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

to

Plant and

leasehold

machinery

property

etc

Totals

£

£

£

COST

At 1 April 2024

61,102

481,595

542,697

Additions

-

187,158

187,158

Disposals

-

(209,844

)

(209,844

)

At 31 March 2025

61,102

458,909

520,011

DEPRECIATION

At 1 April 2024

61,102

314,046

375,148

Charge for year

-

65,286

65,286

Eliminated on disposal

-

(151,717

)

(151,717

)

At 31 March 2025

61,102

227,615

288,717

NET BOOK VALUE

At 31 March 2025

-

231,294

231,294

At 31 March 2024

-

167,549

167,549

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2024

158,252

Additions

167,106

Disposals

(73,694

)

At 31 March 2025

251,664

DEPRECIATION

At 1 April 2024

67,814

Charge for year

42,991

Eliminated on disposal

(53,192

)

At 31 March 2025

57,613

NET BOOK VALUE

At 31 March 2025

194,051

At 31 March 2024

90,438

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

1,104,054

Exchange differences

(5,935

)

At 31 March 2025

1,098,119

DEPRECIATION

At 1 April 2024

and 31 March 2025

491

NET BOOK VALUE

At 31 March 2025

1,097,628

At 31 March 2024

1,103,563

Fair value at 31 March 2025 is represented by:

£

Valuation in 2009

49,359

Valuation in 2017

(21,841

)

Valuation in 2018

7,132

Valuation in 2019

(4,599

)

Valuation in 2020

7,638

Valuation in 2021

(10,758

)

Valuation in 2022

176,890

Valuation in 2023

13,340

Valuation in 2024

(9,108

)

Valuation in 2025

(5,935

)

Cost

896,001

1,098,119

Investment property was valued by M Morrissey MIPAV (10 June 2022), C Stott MRICS (18 May 2022) and the directors.

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

170,900

122,118

Construction contract debtors

1,071,830

1,162,130

Other debtors

193,129

159,473

1,435,859

1,443,721

2025

2024

£

£

Amounts falling due after more than one year:

Construction contract debtors

218,223

179,810

Aggregate amounts

1,654,082

1,623,531

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts and finance leases

59,536

22,209

Trade creditors

717,332

716,978

Taxation and social security

171,466

274,260

Other creditors

688,205

829,988

1,636,539

1,843,435

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts and finance leases

75,128

17,579

None of the amounts due after more than one year are due after more than five years.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts and finance leases

134,664

39,788

The loans in respect of hire purchase contracts and finance leases are secured against the assets to which they relate.

10.	OPERATING LEASE COMMITMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

36,502

13,067

Between one and five years

43,290

21,233

79,792

34,300

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by the board of the directors by virtue of their collective controlling shareholding.