REGISTERED NUMBER: 03205505 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

FOR

PLUMBLINE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S A Elliott

S J Elliott

REGISTERED OFFICE:

Coventry Road

Harrowbrook

Hinckley

Leicestershire

LE10 3DE

REGISTERED NUMBER:

03205505 (England and Wales)

AUDITORS:

Armstrongs

Chartered Accountants and Statutory Auditors

Gethin House

36 Bond Street

Nuneaton

Warwickshire

CV11 4DA

FIXED ASSETS

Tangible assets

4

-

14,186

CURRENT ASSETS

Stocks

-

662,963

Debtors

5

81,469

482,595

Cash at bank

239,269

232,159

320,738

1,377,717

CREDITORS

Amounts falling due within one year

6

29,591

852,286

NET CURRENT ASSETS

291,147

525,431

TOTAL ASSETS LESS CURRENT LIABILITIES

291,147

539,617

CREDITORS

Amounts falling due after more than one year

7

-

(10,503

)

PROVISIONS FOR LIABILITIES

-

(3,350

)

NET ASSETS

291,147

525,764

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

291,047

525,664

291,147

525,764

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 January 2026 and were signed on its behalf by:

S A Elliott - Director

1.	STATUTORY INFORMATION

Plumbline Limited is 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 (£), rounded to the nearest £.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

7% on cost

Plant and machinery etc

-

25% on cost and 25% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. The cost formula used is AVCO.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans

to related parties.

Debt instruments (other than those wholly repayable or receivable within one yëar), including loans and other

accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently

at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one

year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount

of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term

instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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

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 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.

Significant judgements and estimates

In the application of the accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period in the period of the revision and future periods if the revision affects both current and future periods.

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk causing a material adjustment to the carrying amounts of the assets and liabilities are addressed below:

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical conditions of the tangible assets.

Stocks

Stocks are reviewed regularly to assess their carrying value versus the book cost. If there is doubts over the recoverability of the book value then a provision is made against that particular inventory line. Stock provision has been made on the following basis - 10% on cost estimated to be slow-moving or obsolete of total stock.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2024

50,000

307,796

357,796

Disposals

(50,000

)

(307,796

)

(357,796

)

At 30 June 2025

-

-

-

DEPRECIATION

At 1 July 2024

50,000

293,610

343,610

Charge for year

-

14,186

14,186

Eliminated on disposal

(50,000

)

(307,796

)

(357,796

)

At 30 June 2025

-

-

-

NET BOOK VALUE

At 30 June 2025

-

-

-

At 30 June 2024

-

14,186

14,186

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

(Unaudited)

£

£

Trade debtors

9,758

422,408

Amounts owed by group undertakings

57,627

-

Other debtors

14,084

60,187

81,469

482,595

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

(Unaudited)

£

£

Bank loans and overdrafts

-

11,458

Trade creditors

10,427

677,559

Taxation and social security

285

115,259

Other creditors

18,879

48,010

29,591

852,286

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

(Unaudited)

£

£

Bank loans

-

10,503

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Muhammed Shabbir FCA, FCCA (Senior Statutory Auditor)

for and on behalf of Armstrongs

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2025 and 30 June 2024:

2025

2024

(Unaudited)

£

£

C A Dean

Balance outstanding at start of year

-

-

Amounts advanced

57,627

-

Amounts repaid

(57,627

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Stuart Plumbing & Heating Supplies Limited, the company is registered in England.

11.	BANK SECURITIES

HSBC Invoice Finance (UK) Limited holds a fixed and floating charge on all the present and future assets of the company.