MBS Plumbing and Heating Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08352376 (England and Wales)

MBS PLUMBING AND HEATING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Beevor

Mrs S Beevor

REGISTERED OFFICE:

Sidings House

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

REGISTERED NUMBER:

08352376 (England and Wales)

FIXED ASSETS

Tangible assets

4

6,038

7,102

CURRENT ASSETS

Debtors

5

225,500

179,648

Cash at bank

13,345

-

238,845

179,648

CREDITORS

Amounts falling due within one year

6

187,296

169,713

NET CURRENT ASSETS

51,549

9,935

TOTAL ASSETS LESS CURRENT LIABILITIES

57,587

17,037

CREDITORS

Amounts falling due after more than one year

7

(54,353

)

(14,424

)

PROVISIONS FOR LIABILITIES

(1,147

)

(1,207

)

NET ASSETS

2,087

1,406

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

2,086

1,405

2,087

1,406

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 31 January 2022 and were signed on its behalf by:

M A Beevor - Director

1.	STATUTORY INFORMATION

MBS Plumbing and Heating 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.

Plant and machinery etc

-

15% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - 2 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2020

and 31 January 2021

16,370

DEPRECIATION

At 1 February 2020

9,268

Charge for year

1,064

At 31 January 2021

10,332

NET BOOK VALUE

At 31 January 2021

6,038

At 31 January 2020

7,102

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

204,051

136,927

Other debtors

21,449

42,721

225,500

179,648

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

15,000

2,855

Trade creditors

133,422

142,852

Taxation and social security

36,273

13,479

Other creditors

2,601

10,527

187,296

169,713

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

54,353

-

Other creditors

-

14,424

54,353

14,424

8.	POST BALANCE SHEET EVENTS

Following the year end the Company has been impacted by the Coronavirus pandemic. The Directors have moved to reduce costs and received assistance from the UK Government's Coronavirus Job Retention Scheme and a Bounce Back Loan.

With the above factors in mind and the ongoing support of the Directors and principle creditors, the Directors agree the going concern basis of preparing the accounts remains appropriate.