Kingstown Plumbing Services Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04620160 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

Kingstown Plumbing Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P C Thompson

SECRETARY:

Mrs K Thompson

REGISTERED OFFICE:

758 Spring Bank West

Hull

East Yorkshire

HU5 5AA

REGISTERED NUMBER:

04620160 (England and Wales)

FIXED ASSETS

Tangible assets

4

54,274

46,906

CURRENT ASSETS

Stocks

26,402

26,094

Debtors

5

379,615

380,578

Cash at bank

308,981

622,383

714,998

1,029,055

CREDITORS

Amounts falling due within one year

6

240,823

332,244

NET CURRENT ASSETS

474,175

696,811

TOTAL ASSETS LESS CURRENT
LIABILITIES

528,449

743,717

CREDITORS

Amounts falling due after more than one
year

7

(26,333

)

(34,856

)

PROVISIONS FOR LIABILITIES

(9,621

)

(11,678

)

NET ASSETS

492,495

697,183

CAPITAL AND RESERVES

Called up share capital

101

Retained earnings

492,394

697,082

492,495

697,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 November 2025 and were signed by:

P C Thompson - Director

1.	STATUTORY INFORMATION

Kingstown Plumbing Services Limited is a 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 (£).

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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Revenue recognition

Revenue is recognised under an exchange transaction with a customer when, and to the extent that, the company receives a right to consideration from its performance.

Part completed contracts at the year-end that fulfil the criteria are included in these financial statements based on their fair value of the right to consideration at the balance sheet date. The value is included in debtors as Amounts Recoverable on Contracts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on cost and 20% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an 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 the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost is calculated at an average cost basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 17 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2024

246,751

Additions

31,900

At 28 February 2025

278,651

DEPRECIATION

At 1 March 2024

199,845

Charge for year

24,532

At 28 February 2025

224,377

NET BOOK VALUE

At 28 February 2025

54,274

At 29 February 2024

46,906

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 March 2024

116,462

Additions

23,894

At 28 February 2025

140,356

DEPRECIATION

At 1 March 2024

71,329

Charge for year

23,199

At 28 February 2025

94,528

NET BOOK VALUE

At 28 February 2025

45,828

At 29 February 2024

45,133

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Trade debtors

267,008

299,092

Other debtors

112,607

81,486

379,615

380,578

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Hire purchase contracts and finance leases (see note 8)

23,733

13,619

Trade creditors

150,025

147,816

Taxation and social security

11,106

91,026

Other creditors

55,959

79,783

240,823

332,244

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

28.2.25

29.2.24

£

Hire purchase contracts and finance leases (see note 8)

26,333

34,856

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

Finance leases

28.2.25

29.2.24

28.2.25

29.2.24

£

Gross obligations repayable:

Within one year

10,521

14,993

14,367

-

Between one and five years

26,333

36,011

-

36,854

51,004

14,367

-

Finance charges repayable:

Within one year

1,155

1,374

-

Between one and five years

-

1,155

-

1,155

2,529

-

Net obligations repayable:

Within one year

9,366

13,619

14,367

-

Between one and five years

26,333

34,856

-

35,699

48,475

14,367

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

29.2.24

£

Hire purchase contracts and finance leases

50,066

48,475

Amounts included within hire purchase are secured on the assets they relate to.

10.	RELATED PARTY DISCLOSURES

At the year end, the related party balances were:

29.2.25

28.2.24

£

Balance owed from related parties at the year end

27,196

26,022

The related party is a company which is under common control.

The company has paid the director rent in the sum of £14,400 (2024 - £14,400), in relation to property occupied. This is a commercial rent based on the current market rate.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P C Thompson.