Company Registration No. 05946131 (England and Wales)
PARKER PLUMBING & HEATING SERVICES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
PARKER PLUMBING & HEATING SERVICES LIMITED
COMPANY INFORMATION
Directors
S Parker
N Stackhouse
J Parker
Miss S Parker
Company number
05946131
Registered office
Dugdale Arms
Dugdale Road
Burnley
Lancashire
BB12 6DW
Auditor
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
PARKER PLUMBING & HEATING SERVICES LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 7
Statement of income and retained earnings
8
Balance sheet
9
Statement of cash flows
10
Notes to the financial statements
11 - 23
PARKER PLUMBING & HEATING SERVICES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 1 -

The directors present the strategic report for the year ended 30 November 2025.

Business review

The company operates across the North of England primarily supplying plumbing and heating services to national and regional housebuilders.

With a challenging macroeconomic backdrop, the year to 30 November 2025 showed a 9.4% increase in turnover against the previous year, along with 1.61% improvement in gross profit margins. Overhead costs were tightly controlled by the directors during the year.

The UK housebuilding market is undergoing significant transformation. The Labour government has committed to ambitious targets of 1.5 million new homes over five years, supported by planning reforms and infrastructure investment. While actual delivery remains below target, policy momentum is expected to stimulate housing starts, particularly in areas with revised planning frameworks and 'grey belt' land development.

Business model and key performance indicators

We operate utilizing our highly skilled employees, working closely with housebuilders to deliver plumbing and heating systems aligned with building regulations and energy efficiency standards. Our services include:

- First and second fix plumbing

- Central heating system installation

- Renewable heating solutions (e.g., air source heat pumps)

- Commissioning and certification

We differentiate through reliability, compliance, workforce training and maintaining strong relationships with clients and suppliers.

Our key performance indicators include turnover, gross margin and our level of cash reserves, as shown in the financial statements.

Principal risks and uncertainties

The company faces several risks and uncertainties:

- Market Volatility: Housebuilding activity remains below historic norms, with 2023/24 starts down 25%. Any slowdown in housing starts directly affects our pipeline.

- Cost Inflation: Rising material and labour costs are expected to squeeze margins.

- Regulatory Pressure: Compliance with evolving building regulations and sustainability standards requires ongoing investment in training and systems.

- Economic and Geopolitical Uncertainty: Interest rate fluctuations and broader economic conditions may affect developer confidence and investment.

Strategy and future outlook

We anticipate moderate growth in the sector, supported by planning reforms and infrastructure investment. However, we remain cautious due to economic uncertainty and potential delays in policy implementation.

On behalf of the board

S Parker
Director
15 July 2026
PARKER PLUMBING & HEATING SERVICES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 30 November 2025.

Principal activities

The principal activity of the company continued to be that of plumbing and heating services.

Results and dividends

The results for the year are set out on page 8.

Interim dividends of £141,500 were declared during the year. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

S Parker
N Stackhouse
J Parker
Miss S Parker
Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

PARKER PLUMBING & HEATING SERVICES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 3 -
On behalf of the board
S Parker
Director
15 July 2026
PARKER PLUMBING & HEATING SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF PARKER PLUMBING & HEATING SERVICES LIMITED
- 4 -
Opinion

We have audited the financial statements of Parker Plumbing & Heating Services Limited (the 'company') for the year ended 30 November 2025 which comprise the statement of income and retained earnings, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 November 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

PARKER PLUMBING & HEATING SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF PARKER PLUMBING & HEATING SERVICES LIMITED (CONTINUED)
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

PARKER PLUMBING & HEATING SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF PARKER PLUMBING & HEATING SERVICES LIMITED (CONTINUED)
- 6 -

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered the following:

- the nature of the industry and sector, control environment and business performance including the design of the Company's remuneration policies, key drivers for directors’ remuneration, bonus levels and performance targets;

- results of our enquiries of management about their own identification and assessment of the risks of irregularities;

- the matters discussed among the audit engagement team and relevant specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud;

- a ny matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:

  - identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

  - detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

  - the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: timing of recognition of commercial income, posting of unusual journals and complex transactions; and manipulating the Company's performance profit measures and other key performance indicators to meet remuneration targets and externally communicated targets. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK Companies Act, employment law, health and safety regulations, pensions legislation and tax legislation.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- enquiring of management concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC; and

- in addressing the identified risks of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

PARKER PLUMBING & HEATING SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF PARKER PLUMBING & HEATING SERVICES LIMITED (CONTINUED)
- 7 -

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Simon Read BA(Hons) BFP ACA (Senior Statutory Auditor)
For and on behalf of PM+M Solutions for Business LLP, Statutory Auditor
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
15 July 2026
PARKER PLUMBING & HEATING SERVICES LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
12,689,288
11,604,546
Cost of sales
(10,827,970)
(10,089,454)
Gross profit
1,861,318
1,515,092
Administrative expenses
(1,535,201)
(1,267,616)
Other operating income
8,667
10,309
Operating profit
4
334,784
257,785
Interest receivable and similar income
7
8,830
7,100
Interest payable and similar expenses
8
(18,000)
(14,354)
Profit before taxation
325,614
250,531
Tax on profit
9
(88,189)
(65,506)
Profit for the financial year
237,425
185,025
Retained earnings brought forward
500,996
393,471
Dividends
10
(141,500)
(77,500)
Retained earnings carried forward
596,921
500,996

The statement of income and retained earnings has been prepared on the basis that all operations are continuing operations.

PARKER PLUMBING & HEATING SERVICES LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2025
30 November 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
388,496
396,377
Current assets
Stocks
12
72,477
119,162
Debtors
13
2,903,139
2,783,171
Cash at bank and in hand
878,995
189,883
3,854,611
3,092,216
Creditors: amounts falling due within one year
14
(3,447,327)
(2,806,070)
Net current assets
407,284
286,146
Total assets less current liabilities
795,780
682,523
Creditors: amounts falling due after more than one year
15
(115,716)
(90,009)
Provisions for liabilities
Deferred tax liability
17
83,043
91,418
(83,043)
(91,418)
Net assets
597,021
501,096
Capital and reserves
Called up share capital
19
100
100
Profit and loss reserves
596,921
500,996
Total equity
597,021
501,096

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 15 July 2026 and are signed on its behalf by:
S Parker
Director
Company registration number 05946131 (England and Wales)
PARKER PLUMBING & HEATING SERVICES LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 10 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
24
1,063,249
(93,177)
Interest paid
(18,000)
(14,354)
Income taxes paid
(82,005)
-
0
Net cash inflow/(outflow) from operating activities
963,244
(107,531)
Investing activities
Purchase of tangible fixed assets
(61,902)
(72,987)
Proceeds from disposal of tangible fixed assets
55,848
32,199
Interest received
8,830
7,100
Net cash generated from/(used in) investing activities
2,776
(33,688)
Financing activities
Repayments from directors
700,000
-
0
Payments to directors
(862,608)
-
0
Payment of finance leases obligations
(114,300)
(96,481)
Dividends paid
(77,500)
Net cash used in financing activities
(276,908)
(173,981)
Net increase/(decrease) in cash and cash equivalents
689,112
(315,200)
Cash and cash equivalents at beginning of year
189,883
505,083
Cash and cash equivalents at end of year
878,995
189,883
PARKER PLUMBING & HEATING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 11 -
1
Accounting policies
Company information

Parker Plumbing & Heating Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dugdale Arms, Dugdale Road, Burnley, Lancashire, BB12 6DW.

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.

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. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.4
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 less their residual values over their useful lives on the following bases:

Plant and machinery
15% Reducing balance
Computer equipment
10% Reducing balance
Motor vehicles
25% Reducing balance
Leasehold improvements
20% Straight line

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.

PARKER PLUMBING & HEATING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 12 -
1.5
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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
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.

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.

1.7
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.

1.8
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.

PARKER PLUMBING & HEATING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 13 -
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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 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.

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. 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.

PARKER PLUMBING & HEATING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 14 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
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.

1.10
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.

1.11
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.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.12
Retirement benefits

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

1.13
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.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

PARKER PLUMBING & HEATING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 15 -
1.14
Foreign exchange

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
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Estimated costs to complete a contract

Determining the value of Gross amounts owed to contract customers requires an estimation of the costs required to complete those contracts. The estimation of those costs to complete a contract involves a high degree of judgement and is inherently uncertain. These estimates are based on various factors, including historical performance, anticipated future costs, and the potential impact of unforeseen events. Changes in these estimates can significantly affect the amounts recognised in the financial statements.

3
Turnover and other revenue

All turnover arose from the company's principal activity and arose within the UK.

2025
2024
£
£
Other revenue
Interest income
8,830
7,100
Rental income
8,667
10,000
Other income
-
309

PARKER PLUMBING & HEATING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 16 -
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
15,200
14,600
Depreciation of owned tangible fixed assets
42,170
68,866
Depreciation of tangible fixed assets held under finance leases
69,403
73,208
(Profit)/loss on disposal of tangible fixed assets
(4,493)
1,715
Operating lease charges
32,466
64,819
5
Employees

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

2025
2024
Number
Number
Plumbers
54
61
Administration
10
10
Directors
4
4
Total
68
75

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
2,413,516
2,671,481
Social security costs
247,513
257,972
Pension costs
324,127
70,902
2,985,156
3,000,355
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
85,320
84,654
Company pension contributions to defined contribution schemes
214,067
16,700
299,387
101,354

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2024 - 3).

PARKER PLUMBING & HEATING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 17 -
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
2,430
-
0
Other interest income
6,400
7,100
Total income
8,830
7,100
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
2,430
-
0
8
Interest payable and similar expenses
2025
2024
£
£
Other finance costs
Interest on finance leases and hire purchase contracts
18,000
14,354
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
96,564
82,005
Deferred tax
Origination and reversal of timing differences
(8,375)
(16,499)
Total tax charge
88,189
65,506

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
325,614
250,531
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
81,404
62,633
Tax effect of expenses that are not deductible in determining taxable profit
6,744
148
Depreciation on assets not qualifying for tax allowances
41
2,725
Taxation charge for the year
88,189
65,506
PARKER PLUMBING & HEATING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 18 -
10
Dividends
2025
2024
£
£
Interim paid
141,500
77,500
11
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Leasehold improvements
Total
£
£
£
£
£
Cost
At 1 December 2024
43,795
21,755
775,912
110,079
951,541
Additions
13,220
5,709
136,118
-
0
155,047
Disposals
(9,657)
(1,673)
(141,100)
-
0
(152,430)
At 30 November 2025
47,358
25,791
770,930
110,079
954,158
Depreciation and impairment
At 1 December 2024
19,235
6,558
419,513
109,858
555,164
Depreciation charged in the year
4,860
1,837
104,655
221
111,573
Eliminated in respect of disposals
(4,815)
(686)
(95,574)
-
0
(101,075)
At 30 November 2025
19,280
7,709
428,594
110,079
565,662
Carrying amount
At 30 November 2025
28,078
18,082
342,336
-
0
388,496
At 30 November 2024
24,560
15,197
356,399
221
396,377

Included within tangible fixed assets are assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Motor vehicles
232,155
241,631
12
Stocks
2025
2024
£
£
Raw materials and consumables
72,477
119,162
PARKER PLUMBING & HEATING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 19 -
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
147,045
120,146
Gross amounts owed by contract customers
2,304,320
2,256,054
Other debtors
207,133
152,601
Prepayments and accrued income
244,641
254,370
2,903,139
2,783,171
14
Creditors: amounts falling due within one year
2025
2024
£
£
Obligations under finance leases
16
48,765
95,627
Trade creditors
2,986,893
2,348,981
Corporation tax
96,564
82,005
Other taxation and social security
66,285
56,622
Directors loan account
9,072
36,580
Other creditors
11,680
13,036
Accruals
228,068
173,219
3,447,327
2,806,070
15
Creditors: amounts falling due after more than one year
2025
2024
£
£
Obligations under finance leases
16
115,716
90,009
16
Finance lease obligations
2025
2024
Amounts due:
£
£
Within one year
48,765
95,627
After more than one year
115,716
90,009
164,481
185,636
PARKER PLUMBING & HEATING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
16
Finance lease obligations
(Continued)
- 20 -
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
56,220
104,312
In two to five years
138,816
107,443
195,036
211,755
Less: future finance charges
(30,555)
(26,119)
164,481
185,636

Finance lease payments represent rentals payable by the company for certain motor vehicles. Finance lease liabilities are secured over the assets to which they relate.

The average term of finance leases entered into is 50 months.

17
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
83,782
92,381
Short tern timing differences
(739)
(963)
83,043
91,418
2025
Movements in the year:
£
Liability at 1 December 2024
91,418
Credit to profit or loss
(8,375)
Liability at 30 November 2025
83,043

The deferred tax liability set out above is expected to reverse within 4 years and relates to accelerated capital allowances that are expected to mature within the same period.

PARKER PLUMBING & HEATING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 21 -
18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
324,127
70,902

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

The amount owed to schemes at the year end was £11,784 (202 4: £1 2,203).

19
Share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
90 "A" Ordinary shares of £1 each
90
90
5 "B" Ordinary shares of £1 each
5
5
5 "C" Ordinary shares of £1 each
5
5
100
100
20
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
16,791
22,655
Years 2-5
17,143
15,309
33,934
37,964
21
Security over Assets

The company has granted a fixed and floating charge over its assets in favour of Svenska Handelsbanken AB (publ) under a debenture dated 29 April 2013. The charge covers all present and future assets including property, plant and equipment, receivables, bank accounts, and goodwill. The agreement includes a negative pledge restricting further security over these assets.

There were no amounts owed to Svenska Handelsbanken AB (publ) at the start or the end of the year.

PARKER PLUMBING & HEATING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 22 -
22
Related party transactions

Included within other creditors are amounts due to directors of £9,072 (2024: £36,580).

During the year, the maximum balance owed to the directors was £379,901.

During the year, the directors withdrew £862,623 from the company and repaid £700,015 to the company. Dividends of £141,500 were credited to the directors’ loan accounts during the year.

Interest of £6,400 was charged, in line with HMRC official rates of interest, during short periods where the directors’ loan accounts were overdrawn.

During the year, the company paid £40,000 rent (2024: £40,000) in respect of the lease of its commercial premises from a pension fund, of which a director is a trustee. There were no amounts owed to the pension fund at the year end (2024: £nil).

At the year end, the company was owed rent of £22,667 (2024: £14,300) by a related entity under common control. During the year, the company charged £8,667 (2024: £10,000) in respect of the sub-let of part of its premises.

23
Ultimate controlling party

Mr S Parker is the company's controlling party.

24
Cash generated from/(absorbed by) operations
2025
2024
£
£
Profit after taxation
237,425
185,025
Adjustments for:
Taxation charged
88,189
65,506
Finance costs
18,000
14,354
Investment income
(8,830)
(7,100)
(Gain)/loss on disposal of tangible fixed assets
(4,493)
1,715
Depreciation and impairment of tangible fixed assets
111,573
142,074
Movements in working capital:
Decrease/(increase) in stocks
46,685
(19,162)
(Increase)/decrease in debtors
(119,968)
942,496
Increase/(decrease) in creditors
694,668
(1,418,085)
Cash generated from/(absorbed by) operations
1,063,249
(93,177)
PARKER PLUMBING & HEATING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 23 -
25
Analysis of changes in net funds
1 December 2024
Cash flows
30 November 2025
£
£
£
Cash at bank and in hand
189,883
689,112
878,995
Lease liabilities
(185,636)
21,155
(164,481)
4,247
710,267
714,514
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