Plumbline Building Contracts Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02499155

Plumbline Building Contracts Limited

Filleted Unaudited Financial Statements

31 March 2025

Plumbline Building Contracts Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Balance sheet	1

Notes to the financial statements	3

Plumbline Building Contracts Limited

Balance Sheet

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	1,395	741
Investments	6	2,700,608	2,700,608
		------------	------------
		2,702,003	2,701,349

Current assets

Debtors	7	132,874	122,147
Cash at bank and in hand		206,663	252,964
		---------	---------
		339,537	375,111

Creditors: amounts falling due within one year	8	20,210	22,967
		---------	---------
Net current assets		319,327	352,144
		------------	------------
Total assets less current liabilities		3,021,330	3,053,493

Creditors: amounts falling due after more than one year	9	1,311,553	1,308,171

Provisions	10	240,598	247,129
		------------	------------
Net assets		1,469,179	1,498,193
		------------	------------

Capital and reserves

Called up share capital		100	100
Profit and loss account	12	1,469,079	1,498,093
		------------	------------
Shareholders funds		1,469,179	1,498,193
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Plumbline Building Contracts Limited

Balance Sheet (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 3 December 2025 , and are signed on behalf of the board by:

Mr Z Ali

Director

Company registration number: 02499155

Plumbline Building Contracts Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kimberley House, 31 Burnt Oak Broadway, Edgware, Greater London, HA8 5LD.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The rental income shown in the profit and loss account represents amounts receivable during the period, exclusive of Value Added Tax.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Investments

Investment properties are revalued annually to their fair value and any surplus or deficit is dealt with through profit and loss. no provision for depreciation or amortisation is made on investment properties.

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 balance sheet 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 as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).

5. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 April 2024	3,147	3,824	6,971
Additions	–	1,119	1,119
	-------	-------	-------
At 31 March 2025	3,147	4,943	8,090
	-------	-------	-------
Depreciation
At 1 April 2024	2,970	3,260	6,230
Charge for the year	44	421	465
	-------	-------	-------
At 31 March 2025	3,014	3,681	6,695
	-------	-------	-------
Carrying amount
At 31 March 2025	133	1,262	1,395
	-------	-------	-------
At 31 March 2024	177	564	741
	-------	-------	-------

6. Investments

	Investment properties
	£
Cost
At 1 April 2024 and 31 March 2025	2,700,608
	------------
Impairment
At 1 April 2024 and 31 March 2025	–
	------------

Carrying amount
At 31 March 2025	2,700,608
	------------
At 31 March 2024	2,700,608
	------------

The company's investment properties were valued by the directors at the reporting date on an open market basis. The director is of the opinion that the carrying value of the company's investment properties are the same as their market value. No depreciation or amortisation is provided in respect of these properties.

In respect of certain fixed asset investments stated at valuations, the comparable historical cost values would be £1,150,233 (2024: £1,150,233).

7. Debtors

	2025	2024
	£	£
Trade debtors	270	–
Other debtors	132,604	122,147
	---------	---------
	132,874	122,147
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Social security and other taxes	492	4,005
Other creditors	19,718	18,962
	--------	--------
	20,210	22,967
	--------	--------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	1,213,735	1,213,982
Other creditors	97,818	94,189
	------------	------------
	1,311,553	1,308,171
	------------	------------

Bank loans amounting to £1,213,735 (2024: £1,213,982) are secured by a first legal charge over the company's investment properties. At the reporting date, the company owed £97,818 (2024: £94,189) to the directors in respect of their interest free loan which does not have a fixed repayment date. The directors do not foresee any amount of the loan to be repaid within 12 months of the reporting date and therefore this has been disclosed under amounts falling due after more than one year.

10. Provisions

	Deferred tax (note 11)
	£
At 1 April 2024	247,129
Additions	( 6,531)
	---------
At 31 March 2025	240,598
	---------

11. Deferred tax

The deferred tax included in the balance sheet is as follows:

	2025	2024
	£	£
Included in provisions (note 10)	240,598	247,129
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	265	141
Fair value adjustment of investment property	294,571	294,571
Unused tax losses	( 54,238)	( 47,583)
	---------	---------
	240,598	247,129
	---------	---------

12. Reserves

	2025	2024
	£	£
Distributable reserves	213,275	242,289
Fair value gains on investment properties	1,255,804	1,255,804
	------------	------------
	1,469,079	1,498,093
	------------	------------