Surefix Plumbing & Heating Group Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 12457493 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2023

FOR

SUREFIX PLUMBING & HEATING GROUP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M L Trusler

A I Simpson

Mrs J K Simpson

SECRETARY:

Mrs M L Trusler

REGISTERED OFFICE:

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

REGISTERED NUMBER:

12457493 (England and Wales)

ACCOUNTANTS:

Segrave & Partners LLP

Chartered Accountants

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

FIXED ASSETS

Tangible assets

4

80,669

90,264

CURRENT ASSETS

Stocks

88,568

190,834

Debtors

5

43,070

76,512

Cash at bank

26,295

10,663

157,933

278,009

CREDITORS

Amounts falling due within one year

6

207,118

266,152

NET CURRENT (LIABILITIES)/ASSETS

(49,185

)

11,857

TOTAL ASSETS LESS CURRENT LIABILITIES

31,484

102,121

CREDITORS

Amounts falling due after more than one year

7

31,319

101,059

NET ASSETS

165

1,062

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

161

1,058

SHAREHOLDERS' FUNDS

165

1,062

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 22 December 2023 and were signed on its behalf by:

A I Simpson - Director

1.	STATUTORY INFORMATION

Surefix Plumbing & Heating Group 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

10% on reducing balance

Office equipment

-

20% 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 10 (2022 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Office

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 31 March 2022

and 30 March 2023

2,660

105,645

5,895

114,200

DEPRECIATION

At 31 March 2022

958

21,061

1,917

23,936

Charge for year

340

8,460

795

9,595

At 30 March 2023

1,298

29,521

2,712

33,531

NET BOOK VALUE

At 30 March 2023

1,362

76,124

3,183

80,669

At 30 March 2022

1,702

84,584

3,978

90,264

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 31 March 2022

103,995

Transfer to ownership

(5,350

)

At 30 March 2023

98,645

DEPRECIATION

At 31 March 2022

20,248

Charge for year

7,987

Transfer to ownership

(1,463

)

At 30 March 2023

26,772

NET BOOK VALUE

At 30 March 2023

71,873

At 30 March 2022

83,747

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

39,120

74,562

Other debtors

3,950

1,950

43,070

76,512

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Hire purchase contracts (see note 8)

17,807

21,515

Trade creditors

99,977

138,900

Tax

15,283

12,037

Social security and other taxes

24,823

10,755

VAT

25,683

10,360

Other creditors

587

2,201

Directors' current accounts

20,383

64,589

Accrued expenses

2,575

5,795

207,118

266,152

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Hire purchase contracts (see note 8)

31,319

51,059

Directors' loan accounts

-

50,000

31,319

101,059

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2023

2022

£

£

Net obligations repayable:

Within one year

17,807

21,515

Between one and five years

31,319

51,059

49,126

72,574

Non-cancellable operating

leases

2023

2022

£

£

Within one year

16,100

3,250