Steve Farmer Plumbing & Heating Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 08332757 (England and Wales)

STEVE FARMER PLUMBING & HEATING LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

S J Farmer

A J Farmer

REGISTERED OFFICE:

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

REGISTERED NUMBER:

08332757 (England and Wales)

ACCOUNTANTS:

Phipps Henson McAllister

Chartered Accountants

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

FIXED ASSETS

Tangible assets

4

123,232

140,270

CURRENT ASSETS

Stocks

2,000

2,250

Debtors

5

127,082

205,107

Cash at bank

47,245

35,587

176,327

242,944

CREDITORS

Amounts falling due within one year

6

220,752

269,265

NET CURRENT LIABILITIES

(44,425

)

(26,321

)

TOTAL ASSETS LESS CURRENT LIABILITIES

78,807

113,949

CREDITORS

Amounts falling due after more than one
year

7

(31,206

)

(78,647

)

PROVISIONS FOR LIABILITIES

-

(35,068

)

NET ASSETS

47,601

234

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

47,501

134

SHAREHOLDERS' FUNDS

47,601

234

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2025 and were signed on its behalf by:

A J Farmer - Director

1.	STATUTORY INFORMATION

Steve Farmer Plumbing & Heating Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover 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.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks 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 Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 January 2024

206,941

1,512

208,453

Additions

26,835

-

26,835

Disposals

(6,823

)

-

(6,823

)

At 31 December 2024

226,953

1,512

228,465

DEPRECIATION

At 1 January 2024

67,522

661

68,183

Charge for year

41,100

212

41,312

Eliminated on disposal

(4,262

)

-

(4,262

)

At 31 December 2024

104,360

873

105,233

NET BOOK VALUE

At 31 December 2024

122,593

639

123,232

At 31 December 2023

139,419

851

140,270

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

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

119,748

DEPRECIATION

At 1 January 2024

32,987

Charge for year

21,691

At 31 December 2024

54,678

NET BOOK VALUE

At 31 December 2024

65,070

At 31 December 2023

86,761

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

118,156

164,291

Other debtors

8,926

6,872

Directors' current accounts

-

33,944

127,082

205,107

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

46,859

105,287

Hire purchase contracts and finance leases

24,113

Trade creditors

63,076

76,373

Corporation tax

-

(4,001

)

Social security and other taxes

22,891

3,985

VAT

15,250

6,325

Other creditors

7,607

6,713

Directors' current accounts

40,956

50,470

220,752

269,265

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans - 2-5 years

5,055

28,383

Hire purchase contracts and finance leases

26,151

50,264

31,206

78,647

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary

£1

100

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

A J Farmer

Balance outstanding at start of year

33,944

-

Amounts advanced

-

33,944

Amounts repaid

(33,944

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

33,944