Carthy's Plumbing & Heating Services Limited - Period Ending 2023-03-31
Carthy's Plumbing & Heating Services Limited - Period Ending 2023-03-31
Registration number:
Carthy's Plumbing & Heating Services Limited
for the
Year Ended 31 March 2023
Carthy's Plumbing & Heating Services Limited
Contents
of The Financial Statements
for the
Year Ended 31 March 2023
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Carthy's Plumbing & Heating Services Limited
Company Information
for the
Year Ended 31 March 2023
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Directors |
TH Carthy V Carthy H Carthy |
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Registered office |
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Accountants |
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Chartered
Certified
Accountants' Report to the
Board of Directors
on the Preparation of the Unaudited Statutory Accounts of
Carthy's Plumbing & Heating Services Limited
for the
Year
Ended
31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Carthy's Plumbing & Heating Services Limited for the year ended 31 March 2023 as set out on pages 4 to 14 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
This report is made solely to the Board of Directors of Carthy's Plumbing & Heating Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Carthy's Plumbing & Heating Services Limited and state those matters that we have agreed to state to the Board of Directors of Carthy's Plumbing & Heating Services Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Carthy's Plumbing & Heating Services Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Carthy's Plumbing & Heating Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Carthy's Plumbing & Heating Services Limited. You consider that Carthy's Plumbing & Heating Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Carthy's Plumbing & Heating Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Chartered
Certified
Accountants' Report to the
Board of Directors
on the Preparation of the Unaudited Statutory Accounts of
Carthy's Plumbing & Heating Services Limited
for the
Year
Ended
31 March 2023
......................................
Chartered Certified Accountants
Shoeburyness
Essex
SS3 9QE
Carthy's Plumbing & Heating Services Limited
(Registration number:
07606814
)
Balance Sheet
as at
31 March 2023
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Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
3,947 |
2,548 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
139,698 |
83,270 |
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Shareholders' funds |
139,699 |
83,271 |
For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Carthy's Plumbing & Heating Services Limited
(Registration number:
07606814
)
Balance Sheet
as at
31 March 2023
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Carthy's Plumbing & Heating Services Limited
Statement of Changes in Equity for the Year Ended 31 March 2023
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Share capital |
Retained earnings |
Total |
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At 1 April 2022 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 March 2023 |
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Share capital |
Retained earnings |
Total |
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At 1 April 2021 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 March 2022 |
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Carthy's Plumbing & Heating Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
UK
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
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.
Going concern
The financial statements have been prepared on a going concern basis.
Carthy's Plumbing & Heating Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
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2 |
Accounting policies (continued) |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant & Machinery |
20% on cost |
Carthy's Plumbing & Heating Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
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2 |
Accounting policies (continued) |
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Motor Vehicles |
25% reducing balance |
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Office Equipment |
25% on cost |
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.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Carthy's Plumbing & Heating Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
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2 |
Accounting policies (continued) |
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Carthy's Plumbing & Heating Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2022 |
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Additions |
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At 31 March 2023 |
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Depreciation |
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At 1 April 2022 |
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Charge for the year |
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At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
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At 31 March 2022 |
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Carthy's Plumbing & Heating Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
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Other financial assets (current and non-current) |
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Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 April 2022 |
2,548 |
2,548 |
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Additions |
1,399 |
1,399 |
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At 31 March 2023 |
3,947 |
3,947 |
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Impairment |
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Carrying amount |
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At 31 March 2023 |
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3,947 |
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Debtors |
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Current |
2023 |
2022 |
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Trade debtors |
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Other debtors |
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Carthy's Plumbing & Heating Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
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Creditors |
Creditors: amounts falling due within one year
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2023 |
2022 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Related party transactions |
During the year the company loaned Carthy's Construction Limited a company under common control, £3,168 (2022:£Nil) the balance due from Carthy Construction at the year end is £13,168 (2022:£10,000). The company also made sales to them totalling £6,667 (2022:£Nil) at the year end the balance due from them is £8,000 (2022:£Nil).
Carthy's Plumbing & Heating Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
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8 |
Related party transactions (continued) |
Directors' remuneration
The directors' remuneration for the year was as follows:
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2023 |
2022 |
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Remuneration |
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