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 2021

FOR

ADVANCE PLUMBING & DRAINAGE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

P A C Barnes

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

47,501

25,191

CURRENT ASSETS

Stocks

6,000

6,000

Debtors

5

43,790

14,186

Cash at bank

42,011

40,846

91,801

61,032

CREDITORS

Amounts falling due within one year

6

84,443

44,141

NET CURRENT ASSETS

7,358

16,891

TOTAL ASSETS LESS CURRENT LIABILITIES

54,859

42,082

CREDITORS

Amounts falling due after more than one year

7

(44,241

)

(33,900

)

PROVISIONS FOR LIABILITIES

(9,025

)

(4,786

)

NET ASSETS

1,593

3,396

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

1,493

3,296

SHAREHOLDERS' FUNDS

1,593

3,396

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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 and authorised for issue on 20th September 2022 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

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

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 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1st January 2021

23,615

37,283

3,096

63,994

Additions

41,999

-

-

41,999

Disposals

-

(16,245

)

-

(16,245

)

At 31st December 2021

65,614

21,038

3,096

89,748

DEPRECIATION

At 1st January 2021

12,833

23,447

2,523

38,803

Charge for year

13,195

2,496

143

15,834

Eliminated on disposal

-

(12,390

)

-

(12,390

)

At 31st December 2021

26,028

13,553

2,666

42,247

NET BOOK VALUE

At 31st December 2021

39,586

7,485

430

47,501

At 31st December 2020

10,782

13,836

573

25,191

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

Plant and

machinery

£

COST

Additions

41,999

At 31st December 2021

41,999

DEPRECIATION

Charge for year

10,500

At 31st December 2021

10,500

NET BOOK VALUE

At 31st December 2021

31,499

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/21

31/12/20

£

£

Trade debtors

43,790

14,186

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/21

31/12/20

£

£

Bank loans and overdrafts

4,487

4,083

Hire purchase contracts

10,096

4,713

Taxation and social security

42,627

30,349

Other creditors

27,233

4,996

84,443

44,141

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/21

31/12/20

£

£

Bank loans

16,518

30,917

Hire purchase contracts

27,723

2,983

44,241

33,900

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/21

31/12/20

value:

£

£

100

Ordinary

£1

100

100

9.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party as Mr and Mrs Barnes are equal shareholders.

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 2021 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: .............................................