Pebble Beach Plumbing Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 08897086 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Pebble Beach Plumbing Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Hurley

G Law

REGISTERED OFFICE:

12a Marlborough Place

BRIGHTON

East Sussex

BN1 1WN

REGISTERED NUMBER:

08897086 (England and Wales)

ACCOUNTANTS:

Clarke Goodhand Smith Limited

12a Marlborough Place

BRIGHTON

East Sussex

BN1 1WN

FIXED ASSETS

Tangible assets

4

5,901

7,162

CURRENT ASSETS

Stocks

5

3,917

8,301

Debtors

6

45,511

15,025

Cash at bank

23,819

56,379

73,247

79,705

CREDITORS

Amounts falling due within one year

7

41,788

44,153

NET CURRENT ASSETS

31,459

35,552

TOTAL ASSETS LESS CURRENT LIABILITIES

37,360

42,714

CREDITORS

Amounts falling due after more than one year

8

(36,096

)

(41,245

)

PROVISIONS FOR LIABILITIES

10

(1,121

)

(1,361

)

NET ASSETS

143

108

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

12

43

8

SHAREHOLDERS' FUNDS

143

108

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 19 December 2023 and were signed on its behalf by:

G Law - Director

1.	STATUTORY INFORMATION

Pebble Beach Plumbing 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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2022

2,549

28,103

30,652

Additions

707

-

707

At 31 March 2023

3,256

28,103

31,359

DEPRECIATION

At 1 April 2022

2,050

21,440

23,490

Charge for year

302

1,666

1,968

At 31 March 2023

2,352

23,106

25,458

NET BOOK VALUE

At 31 March 2023

904

4,997

5,901

At 31 March 2022

499

6,663

7,162

5.

STOCKS

31.3.23

31.3.22

£

£

Work-in-progress

3,917

8,301

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

16,437

7,406

Directors' current accounts

26,465

5,318

Prepayments and accrued income

2,609

2,301

45,511

15,025

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Tax

16,970

18,660

Social security and other taxes

1,955

2,478

VAT

9,152

15,419

Natwest credit card

13,566

2,403

Directors' current accounts

-

5,047

Accrued expenses

145

146

41,788

44,153

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans (see note 9)

36,096

41,245

9.

LOANS

An analysis of the maturity of loans is given below:

31.3.23

31.3.22

£

£

Amounts falling due between one and two years:

Bank loans - 1-2 years

36,096

41,245

10.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax

1,121

1,361

Deferred

tax

£

Balance at 1 April 2022

1,361

Capital allowances

(240

)

Balance at 31 March 2023

1,121

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Retained

earnings

£

At 1 April 2022

8

Profit for the year

70,905

Dividends

(70,870

)

At 31 March 2023

43

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, the directors, D Hurley and G Law, owed the company £18,466 and £7,999 respectively (2022: £5,318 & (£5,047)). The overdrawn amounts were repaid to the company on 14 December 2023.

Interest has been charged on the overdrawn amounts at the official HM Revenue & Customs rate.