Heating & Plumbing Warehouse Limited Filleted accounts for Companies House (small and micro)

HEATING & PLUMBING WAREHOUSE LIMITED - Company Information

12 false false false false false false false false false true false false false false false false No description of principal activity 2019-04-01 Sage Accounts Production Advanced 2020 - FRS102_2019 1,300 1,300 1,300 xbrli:pure xbrli:shares iso4217:GBP 04245080 2019-04-01 2020-03-31 04245080 2020-03-31 04245080 2019-03-31 04245080 2018-04-01 2019-03-31 04245080 2019-03-31 04245080 core:LandBuildings 2019-04-01 2020-03-31 04245080 core:PlantMachinery 2019-04-01 2020-03-31 04245080 core:FurnitureFittings 2019-04-01 2020-03-31 04245080 core:MotorVehicles 2019-04-01 2020-03-31 04245080 bus:Director1 2019-04-01 2020-03-31 04245080 core:LandBuildings 2019-03-31 04245080 core:PlantMachinery 2019-03-31 04245080 core:FurnitureFittings 2019-03-31 04245080 core:MotorVehicles 2019-03-31 04245080 core:LandBuildings 2020-03-31 04245080 core:PlantMachinery 2020-03-31 04245080 core:FurnitureFittings 2020-03-31 04245080 core:MotorVehicles 2020-03-31 04245080 core:WithinOneYear 2020-03-31 04245080 core:WithinOneYear 2019-03-31 04245080 core:ShareCapital 2020-03-31 04245080 core:ShareCapital 2019-03-31 04245080 core:RetainedEarningsAccumulatedLosses 2020-03-31 04245080 core:RetainedEarningsAccumulatedLosses 2019-03-31 04245080 core:CostValuation core:Non-currentFinancialInstruments 2020-03-31 04245080 core:Non-currentFinancialInstruments 2020-03-31 04245080 core:Non-currentFinancialInstruments 2019-03-31 04245080 core:PlantMachinery 2019-03-31 04245080 core:FurnitureFittings 2019-03-31 04245080 core:MotorVehicles 2019-03-31 04245080 bus:SmallEntities 2019-04-01 2020-03-31 04245080 bus:AuditExemptWithAccountantsReport 2019-04-01 2020-03-31 04245080 bus:FullAccounts 2019-04-01 2020-03-31 04245080 bus:SmallCompaniesRegimeForAccounts 2019-04-01 2020-03-31 04245080 bus:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31 04245080 core:OfficeEquipment 2019-04-01 2020-03-31 04245080 core:OfficeEquipment 2019-03-31 04245080 core:OfficeEquipment 2020-03-31 04245080 bus:ChairmanChiefExecutive 2019-04-01 2020-03-31

COMPANY REGISTRATION NUMBER: 04245080

Heating & Plumbing Warehouse Limited

Filleted Unaudited Financial Statements

31 March 2020

Heating & Plumbing Warehouse Limited

Statement of Financial Position

31 March 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	5	47,258	21,188
Investments	6	1,300	1,300
		--------	--------
		48,558	22,488

Current assets

Stocks		165,778	176,212
Debtors	7	155,647	115,971
Cash at bank and in hand		403,010	457,506
		---------	---------
		724,435	749,689

Creditors: amounts falling due within one year	8	162,054		159,185
		---------		---------
Net current assets			562,381	590,504
			---------	---------
Total assets less current liabilities			610,939	612,992

Provisions

Taxation including deferred tax	7,485	1,795
	---------	---------
Net assets	603,454	611,197
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	603,354	611,097
	---------	---------
Shareholders funds	603,454	611,197
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Heating & Plumbing Warehouse Limited

Statement of Financial Position (continued)

31 March 2020

These financial statements were approved by the board of directors and authorised for issue on 29 January 2021 , and are signed on behalf of the board by:

Mr B A Barry
Director

Company registration number: 04245080

Heating & Plumbing Warehouse Limited

Notes to the Financial Statements

Year ended 31 March 2020

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit 6A Jubilee Trading Estate, East Tyndall Street, Cardiff, CF24 5EF, UK.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings	-	10% straight line
Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance

	Equipment	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2019: 10 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2019	48,694	24,510	21,043	34,593	24,443	153,283
Additions	–	–	–	44,834	389	45,223
Disposals	–	–	–	( 34,593)	–	( 34,593)
	--------	--------	--------	--------	--------	---------
At 31 Mar 2020	48,694	24,510	21,043	44,834	24,832	163,913
	--------	--------	--------	--------	--------	---------
Depreciation
At 1 Apr 2019	48,694	21,040	18,157	21,504	22,700	132,095
Charge for the year	–	868	722	6,438	1,308	9,336
Disposals	–	–	–	( 24,776)	–	( 24,776)
	--------	--------	--------	--------	--------	---------
At 31 Mar 2020	48,694	21,908	18,879	3,166	24,008	116,655
	--------	--------	--------	--------	--------	---------
Carrying amount
At 31 Mar 2020	–	2,602	2,164	41,668	824	47,258
	--------	--------	--------	--------	--------	---------
At 31 Mar 2019	–	3,470	2,886	13,089	1,743	21,188
	--------	--------	--------	--------	--------	---------

6. Investments

	Other investments other than loans
	£
Cost
At 1 April 2019 and 31 March 2020	1,300
	-------
Impairment
At 1 April 2019 and 31 March 2020	–
	-------

Carrying amount
At 31 March 2020	1,300
	-------
At 31 March 2019	1,300
	-------

7. Debtors

	2020	2019
	£	£
Trade debtors	148,930	107,954
Other debtors	6,717	8,017
	---------	---------
	155,647	115,971
	---------	---------

8. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	105,507	93,610
Corporation tax	–	2,715
Social security and other taxes	25,959	27,610
Other creditors	30,588	35,250
	---------	---------
	162,054	159,185
	---------	---------

9. Director's advances, credits and guarantees

The director was owe d £4,329 by the company at the year end (2019:£29,714 owed by the company).