Surefix Plumbing & Heating Group Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12457493 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2022

FOR

SUREFIX PLUMBING & HEATING GROUP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P J Trusler

Mrs M L Trusler

A I Simpson

Mrs J K Simpson

SECRETARY:

Mrs M L Trusler

REGISTERED OFFICE:

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

REGISTERED NUMBER:

12457493 (England and Wales)

ACCOUNTANTS:

Segrave & Partners LLP

Chartered Accountants

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

FIXED ASSETS

Tangible assets

4

90,264

40,804

CURRENT ASSETS

Stocks

190,834

145,187

Debtors

5

76,512

51,268

Cash at bank

10,663

11,494

278,009

207,949

CREDITORS

Amounts falling due within one year

6

266,152

228,659

NET CURRENT ASSETS/(LIABILITIES)

11,857

(20,710

)

TOTAL ASSETS LESS CURRENT LIABILITIES

102,121

20,094

CREDITORS

Amounts falling due after more than one year

7

101,059

19,444

NET ASSETS

1,062

650

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

1,058

646

SHAREHOLDERS' FUNDS

1,062

650

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2022 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 30 June 2022 and were signed on its behalf by:

P J Trusler - Director

A I Simpson - Director

1.	STATUTORY INFORMATION

Surefix Plumbing & Heating Group 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

-

20% on reducing balance

Motor vehicles

-

10% on reducing balance

Office equipment

-

20% 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 9 (2021 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Office

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 31 March 2021

2,660

46,650

4,612

53,922

Additions

-

58,995

1,283

60,278

At 30 March 2022

2,660

105,645

5,895

114,200

DEPRECIATION

At 31 March 2021

532

11,663

923

13,118

Charge for year

426

9,398

994

10,818

At 30 March 2022

958

21,061

1,917

23,936

NET BOOK VALUE

At 30 March 2022

1,702

84,584

3,978

90,264

At 30 March 2021

2,128

34,987

3,689

40,804

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

Motor

vehicles

£

COST

At 31 March 2021

45,000

Additions

58,995

At 30 March 2022

103,995

DEPRECIATION

At 31 March 2021

11,038

Charge for year

9,210

At 30 March 2022

20,248

NET BOOK VALUE

At 30 March 2022

83,747

At 30 March 2021

33,962

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

74,562

41,920

Other debtors

1,950

1,950

VAT

-

7,398

76,512

51,268

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Hire purchase contracts (see note 8)

21,515

13,668

Trade creditors

138,900

175,722

Tax

12,037

1,986

Social security and other taxes

10,755

3,823

VAT

10,360

-

Other creditors

2,201

2,239

Directors' current accounts

64,589

22,898

Accrued expenses

5,795

8,323

266,152

228,659

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Hire purchase contracts (see note 8)

51,059

19,444

Directors' loan accounts

50,000

-

101,059

19,444

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2022

2021

£

£

Net obligations repayable:

Within one year

21,515

13,668

Between one and five years

51,059

19,444

72,574

33,112

Non-cancellable operating

leases

2022

2021

£

£

Within one year

3,250

7,450

Between one and five years

-

3,250

3,250

10,700