G & K Plumbing and Heating Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09114231 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2017

FOR

G & K PLUMBING AND HEATING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G J Knell

SECRETARY:

Mrs K A Knell

REGISTERED OFFICE:

Wellington House

Aylesbury Road

Princes Risborough

Buckinghamshire

HP27 0JP

REGISTERED NUMBER:

09114231 (England and Wales)

ACCOUNTANTS:

Partridges Accountancy Services Limited

Chartered Certified Accountants

Wellington House

Aylesbury Road

Princes Risborough

Buckinghamshire

HP27 0JP

FIXED ASSETS

Intangible assets

4

136,000

144,000

Tangible assets

5

20,471

25,828

156,471

169,828

CURRENT ASSETS

Stocks

6,381

5,962

Debtors

6

34,246

3,938

Cash at bank and in hand

57,250

30,608

97,877

40,508

CREDITORS

Amounts falling due within one year

7

213,824

165,789

NET CURRENT LIABILITIES

(115,947

)

(125,281

)

TOTAL ASSETS LESS CURRENT LIABILITIES

40,524

44,547

CREDITORS

Amounts falling due after more than one year

8

(12,036

)

(19,354

)

PROVISIONS FOR LIABILITIES

(3,825

)

(5,082

)

NET ASSETS

24,663

20,111

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

24,563

20,011

SHAREHOLDERS' FUNDS

24,663

20,111

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 23 May 2018 and were signed by:

G J Knell - Director

1.	STATUTORY INFORMATION

G & K Plumbing and Heating Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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 etc

-

25% on reducing balance and 20% on cost

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.

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 4 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2016

and 31 August 2017

160,000

AMORTISATION

At 1 September 2016

16,000

Charge for year

8,000

At 31 August 2017

24,000

NET BOOK VALUE

At 31 August 2017

136,000

At 31 August 2016

144,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2016

32,710

Additions

1,656

At 31 August 2017

34,366

DEPRECIATION

At 1 September 2016

6,882

Charge for year

7,013

At 31 August 2017

13,895

NET BOOK VALUE

At 31 August 2017

20,471

At 31 August 2016

25,828

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

Plant and

machinery

etc

£

COST

At 1 September 2016

and 31 August 2017

31,434

DEPRECIATION

At 1 September 2016

6,482

Charge for year

6,238

At 31 August 2017

12,720

NET BOOK VALUE

At 31 August 2017

18,714

At 31 August 2016

24,952

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade debtors

34,246

3,938

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Hire purchase contracts

7,317

7,974

Payments on account

10,080

-

Trade creditors

55,003

46,187

Taxation and social security

38,335

24,402

Other creditors

103,089

87,226

213,824

165,789

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.17

31.8.16

£

£

Hire purchase contracts

12,036

19,354

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at 31st August 2017 the company owed £97,964 to Mr G Knell, the company director. The loan does not

attract interest and is repayable on demand.