Inscape Plumbing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07770499 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2019

for

Inscape Plumbing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A R H Barton

Mrs A Barton

REGISTERED OFFICE:

Weavers View

Hill House Hill

Liphook

Hampshire

GU30 7PX

REGISTERED NUMBER:

07770499 (England and Wales)

ACCOUNTANTS:

Tropman & Co. Limited

39 Station Road

Liphook

Hampshire

GU30 7DW

FIXED ASSETS

Intangible assets

4

27,270

31,166

Tangible assets

5

1,050

1,400

28,320

32,566

CURRENT ASSETS

Stocks

6

500

7,449

Debtors

7

8,411

785

Cash at bank

-

1,816

8,911

10,050

CREDITORS

Amounts falling due within one year

8

32,509

33,495

NET CURRENT LIABILITIES

(23,598

)

(23,445

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,722

9,121

CAPITAL AND RESERVES

Called up share capital

9

200

200

Retained earnings

10

4,522

8,921

SHAREHOLDERS' FUNDS

4,722

9,121

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 applicable to companies subject to the small companies regime.

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 24 January 2020 and were signed on its behalf by:

A R H Barton - Director

1.	STATUTORY INFORMATION

Inscape Plumbing 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 on aquisition of the business in 2012, is being written off over its useful

economic life.

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.

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.

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 3 (2018 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2018

and 30 September 2019

50,000

AMORTISATION

At 1 October 2018

18,834

Amortisation for year

3,896

At 30 September 2019

22,730

NET BOOK VALUE

At 30 September 2019

27,270

At 30 September 2018

31,166

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 October 2018

and 30 September 2019

1,000

2,800

1,555

5,355

DEPRECIATION

At 1 October 2018

840

2,353

762

3,955

Charge for year

40

112

198

350

At 30 September 2019

880

2,465

960

4,305

NET BOOK VALUE

At 30 September 2019

120

335

595

1,050

At 30 September 2018

160

447

793

1,400

6.

STOCKS

30.9.19

30.9.18

£

£

Stocks

500

500

Work-in-progress

-

6,949

500

7,449

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade debtors

8,411

785

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Bank loans and overdrafts

11,506

-

Trade creditors

4,510

14,970

Tax

6,396

6,467

Social security and other taxes

569

764

VAT

3,245

3,593

Other creditors

4,283

5,701

Accrued expenses

2,000

2,000

32,509

33,495

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.19

30.9.18

value:

£

£

100

Ordinary

£1

100

100

100

Ordinary A

£1

100

100

200

200

10.

RESERVES

Retained

earnings

£

At 1 October 2018

8,921

Profit for the year

14,387

Dividends

(18,786

)

At 30 September 2019

4,522

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £18,786 were paid to the directors .