Advance Plumbing & Drainage Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08801183 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2018

FOR

ADVANCE PLUMBING & DRAINAGE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

P A C Barnes

Mrs D Barnes

SECRETARY:

Mrs D Barnes

REGISTERED OFFICE:

Fiscal House

367 London Road

Camberley

Surrey

GU15 3HQ

REGISTERED NUMBER:

08801183 (England and Wales)

ACCOUNTANTS:

Sowerbutts and Co Ltd

Fiscal House

367 London Road

Camberley

Surrey

GU15 3HQ

FIXED ASSETS

Tangible assets

4

24,629

32,838

CURRENT ASSETS

Stocks

6,000

6,000

Debtors

5

34,217

16,516

Cash at bank and in hand

2,184

-

42,401

22,516

CREDITORS

Amounts falling due within one year

6

61,823

46,976

NET CURRENT LIABILITIES

(19,422

)

(24,460

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,207

8,378

CREDITORS

Amounts falling due after more than one year

7

(354

)

(4,371

)

PROVISIONS FOR LIABILITIES

(4,680

)

(3,485

)

NET ASSETS

173

522

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

73

422

SHAREHOLDERS' FUNDS

173

522

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 1st September 2019 and were signed on its behalf by:

P A C Barnes - Director

1.	STATUTORY INFORMATION

Advance Plumbing & Drainage Ltd 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1st January 2018

and 31st December 2018

18,630

23,775

3,096

45,501

DEPRECIATION

At 1st January 2018

1,935

8,990

1,738

12,663

Charge for year

4,174

3,696

339

8,209

At 31st December 2018

6,109

12,686

2,077

20,872

NET BOOK VALUE

At 31st December 2018

12,521

11,089

1,019

24,629

At 31st December 2017

16,695

14,785

1,358

32,838

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/18

31/12/17

£

£

Trade debtors

13,683

15,516

Other debtors

20,534

1,000

34,217

16,516

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/18

31/12/17

£

£

Bank loans and overdrafts

12,834

13,051

Hire purchase contracts

6,445

6,102

Trade creditors

15,090

12,425

Taxation and social security

26,254

12,201

Other creditors

1,200

3,197

61,823

46,976

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/18

31/12/17

£

£

Hire purchase contracts

354

4,371

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/18

31/12/17

value:

£

£

100

Ordinary

£1

100

100

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Advance Plumbing & Drainage Ltd for the year ended

31st December 2018 which comprise the Income Statement, Balance Sheet and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Advance Plumbing & Drainage Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Advance Plumbing & Drainage Ltd and state those matters that we have agreed to state to the Board of Directors of Advance Plumbing & Drainage Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Advance Plumbing & Drainage Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Advance Plumbing & Drainage Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Advance Plumbing & Drainage Ltd. You consider that Advance Plumbing & Drainage Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Advance Plumbing & Drainage Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sowerbutts and Co Ltd

Fiscal House

367 London Road

Camberley

Surrey

GU15 3HQ

Date: .............................................