A1 Total Plumbing Ltd - Period Ending 2017-03-31

Registration number: 06845301

A1 Total Plumbing Ltd

Annual Report and Abridged Financial Statements

for the Year Ended 31 March 2017

A1 Total Plumbing Ltd

Contents

Company Information	1
Director's Report	2
Statement of Director's Responsibilities	3
Independent Auditor's Report	4 to 5
Abridged Profit and Loss Account	6
Statement of Comprehensive Income	7
Abridged Balance Sheet	8
Statement of Changes in Equity	9
Notes to the Abridged Financial Statements	10 to 13

A1 Total Plumbing Ltd

Company Information

Director

Mr Neal Austin

Company secretary

Power Secretaries Limited

Registered office

8C High Street Southampton Hampshire SO14 2DH

Auditors

Auditor details

Page 1

A1 Total Plumbing Ltd

Director's Report for the Year Ended 31 March 2017

The director presents his report and the abridged financial statements for the year ended 31 March 2017.

Director of the company

The director who held office during the year was as follows:

Mr Neal Austin

Principal activity

The principal activity of the company is Plumbing & Heating

Disclosure of information to the auditors

The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.

Small companies provision statement

This report has 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.

Approved by the Board on 18 October 2017 and signed on its behalf by:

.........................................
Mr Neal Austin
Director

Page 2

A1 Total Plumbing Ltd

Statement of Director's Responsibilities

The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006 and in accordance with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 3

A1 Total Plumbing Ltd

Independent Auditor's Report to the Members of A1 Total Plumbing Ltd

We have audited the abridged financial statements of A1 Total Plumbing Ltd for the year ended 31 March 2017, set out on pages 6 to 13. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of the director and auditor

As explained more fully in the Statement of Director's Responsibilities (set out on page 3), the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s (APB’s) Ethical Standards for Auditors to the financial statements, including "APB Ethical Standard - Provisions Available for Small Entities (Revised)".

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Annual Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

Opinion on the financial statements

In our opinion the financial statements:

•	give a true and fair view of the state of the company's affairs as at 31 March 2017 and of its profit for the year then ended;
•	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to smaller entities; and
•	have been prepared in accordance with the requirements of the Companies Act 2006.

Page 4

A1 Total Plumbing Ltd

Independent Auditor's Report to the Members of A1 Total Plumbing Ltd

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

•	the information given in the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

•	the Director's Report has been prepared in accordance with applicable legal requirements.

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's Report.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

•	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
•	the financial statements are not in agreement with the accounting records and returns; or
•	certain disclosures of directors’ remuneration specified by law are not made; or
•	we have not received all the information and explanations we require for our audit; or
•	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the Director's Report.

......................................
(Senior Statutory Auditor)
For and on behalf of , Statutory Auditor

18 October 2017

Page 5

A1 Total Plumbing Ltd

Abridged Profit and Loss Account for the Year Ended 31 March 2017

	Note	Total 31 March 2017 £	Total 31 March 2016 £
Gross profit		51,608	47,827
Administrative expenses		(41,374)	(34,304)
Interest payable and similar expenses		-	(31)
Profit before tax	4	10,234	13,492
Taxation		(2,348)	(3,006)
Profit for the financial year		7,886	10,486

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

The notes on pages 10 to 13 form an integral part of these abridged financial statements.

Page 6

A1 Total Plumbing Ltd

Statement of Comprehensive Income for the Year Ended 31 March 2017

	Note	2017 £	2016 £
Profit for the year		7,886	10,486
Total comprehensive income for the year		7,886	10,486

The notes on pages 10 to 13 form an integral part of these abridged financial statements.

Page 7

A1 Total Plumbing Ltd

(Registration number: 06845301)
Abridged Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	5	7,357	9,195
Current assets
Debtors		1,868	1,948
Cash at bank and in hand		25,640	19,145
		27,508	21,093
Creditors: Amounts falling due within one year		(30,381)	(28,690)
Net current liabilities		(2,873)	(7,597)
Net assets		4,484	1,598
Capital and reserves
Called up share capital		20	20
Profit and loss account		4,464	1,578
Total equity		4,484	1,598

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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 18 October 2017
 

.........................................

Mr Neal Austin

Director

The notes on pages 10 to 13 form an integral part of these abridged financial statements.

Page 8

A1 Total Plumbing Ltd

Statement of Changes in Equity for the Year Ended 31 March 2017

	Share capital £	Profit and loss account £	Total £
At 1 April 2016	20	1,578	1,598
Profit for the year	-	7,886	7,886
Total comprehensive income	-	7,886	7,886
Dividends	-	(5,000)	(5,000)
At 31 March 2017	20	4,464	4,484

	Share capital £	Profit and loss account £	Total £
At 1 April 2015	20	11,092	11,112
Profit for the year	-	10,486	10,486
Total comprehensive income	-	10,486	10,486
Dividends	-	(20,000)	(20,000)
At 31 March 2016	20	1,578	1,598

The notes on pages 10 to 13 form an integral part of these abridged financial statements.

Page 9

A1 Total Plumbing Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital incorporated in United Kingdom.

The address of its registered office is:
8C High Street
Southampton
Hampshire
SO14 2DH
England

The principal place of business is:
Laugharne
Cold Harbour
Amesbury
Wiltshire
SP4 7AH
England

These financial statements were authorised for issue by the director on 18 October 2017.

2	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 abridged financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged 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.

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 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.

Page 10

A1 Total Plumbing Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 March 2017

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Asset class	Depreciation method and rate
Plant & Machinery	25% Reducing balance
Fixture,fittings and equipment	25% Reducing balance
Motor vehicles	25% Reducing balance

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.

Page 11

A1 Total Plumbing Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 March 2017

3	Staff numbers

Average number of employees

4	Profit before tax

Arrived at after charging/(crediting)

	2017 £	2016 £
Depreciation expense	2,452	3,064

5	Tangible assets

	Total £
Cost or valuation
At 1 April 2016	25,557
Additions	614
At 31 March 2017	26,171
Depreciation
At 1 April 2016	16,362
Charge for the year	2,452
At 31 March 2017	18,814
Carrying amount
At 31 March 2017	7,357
At 31 March 2016	9,195

6

Dividends

	2017	2016
	£	£
Interim dividend of £5,000.00 (2016 - £20,000.00) per ordinary share	5,000	20,000

The director is proposing a final dividend of £Nil (2016 - £Nil) per share totalling £Nil (2016 - £Nil). This dividend has not been accrued in the Balance Sheet.

7	Related party transactions

Summary of transactions with other related parties

Page 12

A1 Total Plumbing Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 March 2017

The amount owed to director by the company at the year end was £27,930.06 (PY- £25,581.09).
 

Page 13

A1 Total Plumbing Ltd

Detailed Profit and Loss Account for the Year Ended 31 March 2017

	2017 £	2016 £
Turnover (analysed below)	80,935	86,964
Cost of sales (analysed below)	(29,327)	(39,137)
Gross profit	51,608	47,827
Gross profit (%)	63.76%	55%
Administrative expenses
Employment costs (analysed below)	(19,357)	(15,848)
Establishment costs (analysed below)	(981)	(1,392)
General administrative expenses (analysed below)	(17,865)	(13,916)
Finance charges (analysed below)	(719)	(84)
Depreciation costs (analysed below)	(2,452)	(3,064)
	(41,374)	(34,304)
Operating profit	10,234	13,523
Interest payable and similar expenses (analysed below)	-	(31)
Profit before tax	10,234	13,492

This page does not form part of the statutory financial statements.

Page 14

A1 Total Plumbing Ltd

Detailed Profit and Loss Account for the Year Ended 31 March 2017

2017 £

2016 £

Turnover
Sales	80,935	86,964

Cost of sales
Materials Purchased	27,016	37,201
Lease of motor vehicles	2,311	1,936
	29,327	39,137

Employment costs
Wages	(5,460)	(4,470)
Directors' Salaries	(11,000)	(10,944)
Commissions payable	(2,897)	(204)
Staff training	-	(230)
	(19,357)	(15,848)

Establishment costs
Insurance	(214)	(218)
Use of home as office	(750)	(750)
Repairs and Renewals	(17)	(424)
	(981)	(1,392)

General administrative expenses
Telephone & Internet charges	(1,779)	(1,374)
Computer software	(180)	(179)
Subscriptions	(54)	-
Miscellaneous Expenses	(154)	(47)
Motor expenses	(9,403)	(8,520)
Travel and subsistence	(4,902)	(2,333)
Audit and Accountancy Fees	(1,393)	(1,463)
	(17,865)	(13,916)

Finance charges
Bank charges	(566)	-
Credit card charges	(153)	(84)
	(719)	(84)

Depreciation costs
Plant & Machinery - Depreciation	(595)	(794)
Motor Vehicles - Depreciation	(1,389)	(1,851)
Office Equipment - Depreciation	(468)	(419)
	(2,452)	(3,064)

This page does not form part of the statutory financial statements.

Page 15