Accounts filed on 30-11-2014
Accounts filed on 30-11-2014
truePembrokeshire Building & Plumbing Supplies Limited081496432014-11-3065246316526524831654226524831654744843736401613160136712491879053817270325889419532416427436802245793259730141769100251288657682146174319174617431917Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account on a straight line basis.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Deferred taxation
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:
on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.
will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Plant & Machineryon a reducing balance basis0.2500Motor Vehicleson a reducing balance basis0.2500Property Improvementson a straight line basis0.10006811040324277862193684071352968110403242778621936840713529548640The loan from Finance Wales is secured by a debenture dated 24 November 2014 containing a fixed and floating charge over the assets of the company. Ordinary1222Creditors: amounts falling due within one yearThe following liabilities disclosed under creditors falling due within one year are secured by the company: Debenture loans 2014 - £7,884 (2013 - £nil), Bank loans and overdrafts 2014 - £17,243 (2013 - £nil) and hire purchase agreements 2014 - £3,240 (2013 - £nil).2015-08-29Mr B Taylortruetruetruetruexbrli:sharesiso4217:GBPxbrli:purePembrokeshire Building & Plumbing Supplies Limited2013-12-012014-11-30Pembrokeshire Building & Plumbing Supplies Limited2012-07-192013-11-30Pembrokeshire Building & Plumbing Supplies Limited2012-07-18Pembrokeshire Building & Plumbing Supplies Limited2013-11-30Pembrokeshire Building & Plumbing Supplies Limited2013-11-30Pembrokeshire Building & Plumbing Supplies Limited2014-11-30 2015-08-31
