Company registration number SC634493
P H PLUMBING & HEATING ENGINEERS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
PAGES FOR FILING WITH REGISTRAR
P H PLUMBING & HEATING ENGINEERS LTD
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
P H PLUMBING & HEATING ENGINEERS LTD
BALANCE SHEET
AS AT 31 JULY 2025
31 July 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
68,528
38,013
Current assets
Stocks
17,452
21,992
Debtors
4
17,102
5,909
Cash at bank and in hand
29,008
25,390
63,562
53,291
Creditors: amounts falling due within one year
5
(94,419)
(48,893)
Net current (liabilities)/assets
(30,857)
4,398
Total assets less current liabilities
37,671
42,411
Creditors: amounts falling due after more than one year
6
(6,793)
-
0
Provisions for liabilities
8
(12,267)
(9,503)
Net assets
18,611
32,908
Capital and reserves
Allotted, called up and fully paid share capital
10
2
2
Profit and loss reserves
18,609
32,906
Total equity
18,611
32,908

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

P H PLUMBING & HEATING ENGINEERS LTD
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2025
31 July 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 January 2026 and are signed on its behalf by:
Mr P J W Collins
Director
Company Registration No. SC634493
P H PLUMBING & HEATING ENGINEERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
- 3 -
1
Accounting policies
Company information

P H Plumbing & Heating Engineers Ltd is a private company limited by shares incorporated in Scotland. The registered office is Kinloch, Shieldaig, Strathcarron, IV54 8XJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

At the balance sheet date, the company had net current liabilities amounting to £30,857. However, the directors, Mr P J W Collins and Mrs H E Collins, have confirmed that they do not intend to seek full repayment of their loan to the company of £58,348, and the directors have confirmed that they will ensure that adequate funds will be made available to meet third-party liabilities as they fall due. On this basis, it is considered appropriate to prepare the financial statements on a going concern basis.

The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoiced sales arising from carrying out plumbing and heating services, excluding Value Added Tax.

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under its contracts.

For incomplete contracts, an assessment is made to the extent to which revenue has been earned. This assessment takes into account the nature of the work, its stage of completion and the relevant contract terms. Any unbilled revenue is included in debtors as gross amounts owed by contract customers.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets over their useful lives on the following bases:

Leasehold improvements
10% on cost
Plant and machinery
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Office and computer equipment
33.3% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

P H PLUMBING & HEATING ENGINEERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies (Continued)
- 4 -
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.5
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.

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.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

P H PLUMBING & HEATING ENGINEERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies (Continued)
- 5 -
1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.13
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

P H PLUMBING & HEATING ENGINEERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
3
Tangible fixed assets
Leasehold improvements
Plant and machinery
Fixtures and fittings
Office and computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 August 2024
-
0
16,659
1,117
420
40,888
59,084
Additions
4,140
4,145
-
0
3,657
42,546
54,488
Disposals
-
0
(2,826)
-
0
-
0
(17,713)
(20,539)
At 31 July 2025
4,140
17,978
1,117
4,077
65,721
93,033
Depreciation and impairment
At 1 August 2024
-
0
6,904
774
163
13,230
21,071
Depreciation charged in the year
173
2,743
86
705
14,653
18,360
Eliminated in respect of disposals
-
0
(1,696)
-
0
-
0
(13,230)
(14,926)
At 31 July 2025
173
7,951
860
868
14,653
24,505
Carrying amount
At 31 July 2025
3,967
10,027
257
3,209
51,068
68,528
At 31 July 2024
-
0
9,755
343
257
27,658
38,013
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
771
766
Other debtors
16,331
5,143
17,102
5,909
P H PLUMBING & HEATING ENGINEERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 7 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
14,000
1,947
Taxation and social security
11,732
15,846
Other creditors
68,687
31,100
94,419
48,893
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
6,793
-
0
7
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
5,822
-
0
In two to five years
6,793
-
0
12,615
-
0

Finance lease liabilities are secured over the assets to which they relate.

8
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
9
12,267
9,503
9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
12,267
9,503
P H PLUMBING & HEATING ENGINEERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
9
Deferred taxation (Continued)
- 8 -
2025
Movements in the year:
£
Liability at 1 August 2024
9,503
Charge to profit or loss
2,764
Liability at 31 July 2025
12,267
10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary "A" shares of £1 each
1
1
1
1
Ordinary "B" shares of £1 each
1
1
1
1
2
2
2
2
11
Related party transactions

At the balance sheet date, the company owed the directors, Mr P J W Collins and Mrs H E Collins, £58,348 (2024 - £29,887). This loan is unsecured, interest-free and has no fixed terms of repayment.

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