Plumbers Zone Limited Filleted accounts for Companies House (small and micro)

PLUMBERS ZONE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 12396696

Plumbers Zone Limited

Filleted Unaudited Financial Statements

31 January 2021

Plumbers Zone Limited

Statement of Financial Position

31 January 2021

	31 Jan 21
Note	£

Fixed assets

Tangible assets	4	1,226

Current assets

Debtors	5	4,251
Cash at bank and in hand		7,073
		--------
		11,324

Creditors: amounts falling due within one year	6	10,494
		--------
Net current assets		830
		-------
Total assets less current liabilities		2,056

Provisions	233
	-------
Net assets	1,823
	-------

Capital and reserves

Called up share capital	100
Profit and loss account	1,723
	-------
Shareholders funds	1,823
	-------

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 comprehensive income has not been delivered.

For the period ending 31 January 2021 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 period 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 .

Plumbers Zone Limited

Statement of Financial Position (continued)

31 January 2021

These financial statements were approved by the board of directors and authorised for issue on 5 October 2021 , and are signed on behalf of the board by:

Miss A K Bhatia
Director

Company registration number: 12396696

Plumbers Zone Limited

Notes to the Financial Statements

Period from 10 January 2020 to 31 January 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 Durham Avenue, Hounslow, Middlesex, TW5 0HG.

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:

	Equipment	-	20% reducing balance

4. Tangible assets

	Equipment
	£
Cost
At 10 January 2020	–
Additions	1,375
	-------
At 31 January 2021	1,375
	-------
Depreciation
At 10 January 2020	–
Charge for the period	149
	-------
At 31 January 2021	149
	-------
Carrying amount
At 31 January 2021	1,226
	-------

5. Debtors

	31 Jan 21
	£
Trade debtors	4,251
	-------

6. Creditors: amounts falling due within one year

	31 Jan 21
	£
Trade creditors	4,223
Corporation tax	681
Other creditors	5,590
	--------
	10,494
	--------

7. Director's advances, credits and guarantees

During the period the director entered into the following advances and credits with the company:

	31 Jan 21
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Miss A K Bhatia	–	( 4,840)	( 4,840)
	----	-------	-------