Registration number:
Steve Smith Plumbing & Heating Limited
for the Year Ended 31 October 2025
Steve Smith Plumbing & Heating Limited
Contents
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Balance Sheet |
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Notes to the Financial Statements |
Steve Smith Plumbing & Heating Limited
(Registration number: 07408056)
Balance Sheet as at 31 October 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
92,993 |
97,266 |
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Shareholders' funds |
92,994 |
97,267 |
Steve Smith Plumbing & Heating Limited
(Registration number: 07408056)
Balance Sheet as at 31 October 2025
For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Steve Smith Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tax
The tax expense for the period comprises current tax and deferred tax.
The current tax charge is calculated on the basis of tax rates and laws that have ben enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Steve Smith Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
Depreciation
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Asset class |
Depreciation method and rate |
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Motor vehicles |
25% reducing balance basis |
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Plant and machinery |
25% reducing balance basis |
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Office equipment |
25% reducing balance basis |
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Short leasehold land & buildings |
Nil |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
10% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Steve Smith Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
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Taxation |
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2025 |
2024 |
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£ |
£ |
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Corporation tax |
4,595 |
18,155 |
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Deferred tax |
3,534 |
(3,223) |
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8,129 |
14,932 |
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Intangible assets |
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Goodwill |
Total |
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Cost or valuation |
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At 1 November 2024 |
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At 31 October 2025 |
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Amortisation |
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At 1 November 2024 |
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At 31 October 2025 |
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Carrying amount |
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At 31 October 2025 |
- |
- |
Steve Smith Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
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Tangible assets |
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Short leasehold land and buildings |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 November 2024 |
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Additions |
- |
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Disposals |
- |
- |
- |
( |
( |
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At 31 October 2025 |
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Depreciation |
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At 1 November 2024 |
- |
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Charge for the year |
- |
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Eliminated on disposal |
- |
- |
- |
( |
( |
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At 31 October 2025 |
- |
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Carrying amount |
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At 31 October 2025 |
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At 31 October 2024 |
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Steve Smith Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Steve Smith Plumbing & Heating Limited
Notes to the Financial Statements for the Year Ended 31 October 2025
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Loans and borrowings |
Current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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Hire purchase contracts |
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Non-current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
- |
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Hire purchase contracts |
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Related party transactions |
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Transactions with the director |
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2025 |
At 1 November 2024 |
Advances to director |
Repayments by director |
At 31 October 2025 |
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Mr S Smith |
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( |
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2024 |
At 1 November 2023 |
Advances to director |
Repayments by director |
At 31 October 2024 |
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Mr S Smith |
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( |
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