G & K Plumbing and Heating Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09114231 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2018

FOR

G & K PLUMBING AND HEATING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G J Knell

SECRETARY:

Mrs K A Knell

REGISTERED OFFICE:

Wellington House

Aylesbury Road

Princes Risborough

Buckinghamshire

HP27 0JP

REGISTERED NUMBER:

09114231 (England and Wales)

ACCOUNTANTS:

Partridges Accountancy Services Limited

Chartered Certified Accountants

Wellington House

Aylesbury Road

Princes Risborough

Buckinghamshire

HP27 0JP

FIXED ASSETS

Intangible assets

4

128,000

136,000

Tangible assets

5

27,464

20,471

155,464

156,471

CURRENT ASSETS

Stocks

7,721

6,381

Debtors

6

44,077

34,246

Cash at bank and in hand

53,699

57,250

105,497

97,877

CREDITORS

Amounts falling due within one year

7

201,809

213,824

NET CURRENT LIABILITIES

(96,312

)

(115,947

)

TOTAL ASSETS LESS CURRENT LIABILITIES

59,152

40,524

CREDITORS

Amounts falling due after more than one year

8

(16,324

)

(12,036

)

PROVISIONS FOR LIABILITIES

(5,165

)

(3,825

)

NET ASSETS

37,663

24,663

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

37,563

24,563

SHAREHOLDERS' FUNDS

37,663

24,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 23 May 2019 and were signed by:

G J Knell - Director

1.	STATUTORY INFORMATION

G & K Plumbing and Heating 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on reducing balance and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 6 (2017 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2017

and 31 August 2018

160,000

AMORTISATION

At 1 September 2017

24,000

Charge for year

8,000

At 31 August 2018

32,000

NET BOOK VALUE

At 31 August 2018

128,000

At 31 August 2017

136,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2017

34,366

Additions

21,200

Disposals

(17,821

)

At 31 August 2018

37,745

DEPRECIATION

At 1 September 2017

13,895

Charge for year

2,512

Eliminated on disposal

(6,126

)

At 31 August 2018

10,281

NET BOOK VALUE

At 31 August 2018

27,464

At 31 August 2017

20,471

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

Plant and

machinery

etc

£

COST

At 1 September 2017

31,434

Additions

21,200

Disposals

(17,821

)

At 31 August 2018

34,813

DEPRECIATION

At 1 September 2017

12,720

Charge for year

1,755

Eliminated on disposal

(6,126

)

At 31 August 2018

8,349

NET BOOK VALUE

At 31 August 2018

26,464

At 31 August 2017

18,714

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Trade debtors

44,077

34,246

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Hire purchase contracts

5,867

7,317

Payments on account

-

10,080

Trade creditors

51,866

55,003

Taxation and social security

32,928

38,335

Other creditors

111,148

103,089

201,809

213,824

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.18

31.8.17

£

£

Hire purchase contracts

16,324

12,036

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at 31st August 2018 the company owed £106,245 to Mr G Knell, the company director. The loan does not

attract interest and is repayable on demand.