HP Plumbing And Heating Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

HP Plumbing And Heating Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09900931 . The registered office is Construction House, James Nicolson Link, York, YO30 4GR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. 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 amounts in these financial statements are rounded to the nearest £.

The principal accounting policies adopted are set out below.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% on cost
Motor Vehicles	20% to 25% on cost
Computer Equipment	33% on cost

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.

2.4. Leasing and Hire Purchase Contracts

The company has early adopted the amendments to FRS 102 Section 20 Leases in the current year.

At the inception of a lease, the company recognises a right-of-use asset and a corresponding lease liability. The lease liability is measured at the present value of the lease payments over the lease term, discounted at the interest rate implicit in the lease.

Right-of-use assets are recognised within tangible fixed assets and are depreciated on a straight-line basis over the lease term or their useful economic lives, if shorter. Lease liabilities are included within creditors and are subsequently measured at amortised cost. The finance element of lease payments is recognised in profit or loss so as to produce a constant periodic rate of interest on the outstanding liability.

The company applies the short-term lease exemption to leases with a term of 12 months or less. Payments made under such leases are recognised in profit or loss on a straight-line basis over the lease term.

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HP Plumbing And Heating Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.5. 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.

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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.

2.6. Foreign Currencies

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2.7. Taxation

Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

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.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.9. Government Grant

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

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 11 (2024: 10)

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HP Plumbing And Heating Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2025	2,966	139,319	7,126	149,411
Additions	-	42,766	417	43,183
Disposals	-	(33,450 )	-	(33,450 )

As at 31 December 2025	2,966	148,635	7,543	159,144

Depreciation
As at 1 January 2025	2,345	96,333	7,053	105,731
Provided during the period	368	35,711	154	36,233
Disposals	-	(33,450 )	-	(33,450 )

As at 31 December 2025	2,713	98,594	7,207	108,514

Net Book Value
As at 31 December 2025	253	50,041	336	50,630

As at 1 January 2025	621	42,986	73	43,680

Right-of-use assets

Motor vehicles includes a right-of-use asset with a net book value of £17,191 following the adoption of the amended requirements of FRS 102 Section 20 in respect of leased vehicles.

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	22,115	13,766
Other debtors	11,181	22,660

	33,296	36,426
Due after more than one year
Other debtors	264,331	273,131

	297,627	309,557

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	20,192	24,806
Trade creditors	104,376	83,455
Bank loans and overdrafts	4,167	23,960
Other creditors	22,854	23,265
Taxation and social security	55,448	63,322

	207,037	218,808

Included within bank loans and overdrafts at 31 December 2025 is a Coronavirus Bounce Back Loan, which is secured by way of a government guarantee, with £4,167 (2024: £10,000) due within one year. The loan is due to be fully repaid within one year. At 31 December 2024, £4,167 was due after more than one year.

Included within bank loans and overdrafts at 31 December 2024 were other bank loans of £13,960, which were repaid in full during the year ended 31 December 2025.

Net obligations under finance lease and hire purchase contracts of £20,192 (2024: £24,806) are secured against the related assets, which are included within tangible fixed assets.

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HP Plumbing And Heating Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	29,976	10,747
Bank loans	-	4,167

	29,976	14,914

No amounts of the Coronavirus Bounce Back Loan are due after more than one year at 31 December 2025 (2024: £4,167).

Net obligations under finance lease and hire purchase contracts of £29,976 (2024: £10,747) are secured against the related assets, which are included within tangible fixed assets.

8. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
1,000 Ordinary Shares of £ 1.00 each	1,000	1,000

Each share is entitled to one vote in any circumstances, entitled pari passu to dividend payments or any other distribution and entitled pari passu to participate in a distribution arising from winding up of the company.

9. Directors Advances, Credits and Guarantees

Included within other debtors at 31 December 2024 was a balance of £8,069 in respect of a director’s loan account. During the year, this balance was repaid in full. At 31 December 2025, a balance of £12,856 is due to the director and is included within other creditors. The movement on the director’s loan account during the year is set out below.

	As at 1 January 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2025
	£	£	£	£	£
Mr Harry Pashby	(8,069 )	(56,155 )	77,080	-	12,856

The above loan is unsecured and repayable on demand.

10. Related Party Transactions

Included within other debtors - due after more than one year, is a loan due from an entity under common control of £264,331 (2024: £269,131). The loan attracts interest of 4% per annum and is due to be repaid by October 2028.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		50,630		43,680

			50,630		43,680
CURRENT ASSETS
Debtors	5	297,627		309,557
Cash at bank and in hand		48,720		58,701

		346,347		368,258
Creditors: Amounts Falling Due Within One Year	6	(207,037 )		(218,808 )

NET CURRENT ASSETS (LIABILITIES)			139,310		149,450

TOTAL ASSETS LESS CURRENT LIABILITIES			189,940		193,130

Creditors: Amounts Falling Due After More Than One Year	7		(29,976 )		(14,914 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(7,376 )		(11,000 )

NET ASSETS			152,588		167,216

CAPITAL AND RESERVES
Called up share capital	8		1,000		1,000
Profit and Loss Account			151,588		166,216

SHAREHOLDERS' FUNDS			152,588		167,216