Pacific Heating & Plumbing Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06127411 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2022

for

Pacific Heating & Plumbing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S J Davies

SECRETARY:

L J Davies

REGISTERED OFFICE:

2 Heap Bridge

Bury

Lancashire

BL9 7HR

REGISTERED NUMBER:

06127411 (England and Wales)

ACCOUNTANTS:

Thompson Jones Business Solutions Limited

2 Heap Bridge

Bury

Lancashire

BL9 7HR

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

11,186

3,710

11,186

3,710

CURRENT ASSETS

Stocks

7

2,000

2,000

Debtors

8

142

4,559

Cash at bank

750

1,448

2,892

8,007

CREDITORS

Amounts falling due within one year

9

(4,993

)

(11,452

)

NET CURRENT LIABILITIES

(2,101

)

(3,445

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,085

265

CREDITORS

Amounts falling due after more than one year

10

(2,701

)

-

NET ASSETS

6,384

265

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

6,284

165

SHAREHOLDERS' FUNDS

6,384

265

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 January 2023 and were signed by:

S J Davies - Director

1.	STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:

2 Heap Bridge

Bury

Lancashire

BL9 7HR

The principal place of business is:

3 Catterick Drive

Little Lever

Bolton

BL3 1EL

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

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.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

TRADE CREDITORS

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

BORROWINGS

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2021

and 30 April 2022

10,000

AMORTISATION

At 1 May 2021

and 30 April 2022

10,000

NET BOOK VALUE

At 30 April 2022

-

At 30 April 2021

-

6.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 May 2021

1,681

14,780

16,461

Additions

-

14,684

14,684

Disposals

-

(14,780

)

(14,780

)

At 30 April 2022

1,681

14,684

16,365

DEPRECIATION

At 1 May 2021

1,478

11,273

12,751

Charge for year

30

3,671

3,701

Eliminated on disposal

-

(11,273

)

(11,273

)

At 30 April 2022

1,508

3,671

5,179

NET BOOK VALUE

At 30 April 2022

173

11,013

11,186

At 30 April 2021

203

3,507

3,710

7.

STOCKS

2022

2021

£

£

Other inventories

2,000

2,000

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts recoverable on contract

142

1,965

Other debtors

-

2,594

142

4,559

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

1,714

7,000

Trade creditors

965

769

Taxation and social security

2,062

2,303

Other creditors

252

1,380

4,993

11,452

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

2,701

-

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary Share

1

100

100