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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2019 |
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T. M. WEST PLUMBING SERVICES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2019 |
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FOR |
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T. M. WEST PLUMBING SERVICES LIMITED |
T. M. WEST PLUMBING SERVICES LIMITED (REGISTERED NUMBER: 02095358) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 9 |
T. M. WEST PLUMBING SERVICES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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66 North Street |
Wetherby |
LS22 6NR |
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BANKERS: |
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1 The Penny Hill Centre |
Church Street |
Hunslet |
Leeds |
LS10 2AP |
T. M. WEST PLUMBING SERVICES LIMITED (REGISTERED NUMBER: 02095358) |
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BALANCE SHEET |
31ST MARCH 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 8 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
T. M. WEST PLUMBING SERVICES LIMITED (REGISTERED NUMBER: 02095358) |
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BALANCE SHEET - continued |
31ST MARCH 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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T. M. WEST PLUMBING SERVICES LIMITED (REGISTERED NUMBER: 02095358) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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1. | STATUTORY INFORMATION |
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T. M. West Plumbing Services Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value |
added tax and other sales taxes. |
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Goodwill |
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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. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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T. M. WEST PLUMBING SERVICES LIMITED (REGISTERED NUMBER: 02095358) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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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. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1st April 2018 |
and 31st March 2019 |
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AMORTISATION |
At 1st April 2018 |
and 31st March 2019 |
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NET BOOK VALUE |
At 31st March 2019 |
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At 31st March 2018 |
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T. M. WEST PLUMBING SERVICES LIMITED (REGISTERED NUMBER: 02095358) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st April 2018 |
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Additions |
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Disposals |
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Revaluations |
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At 31st March 2019 |
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DEPRECIATION |
At 1st April 2018 |
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Charge for year |
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Eliminated on disposal |
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Revaluation adjustments | ( |
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At 31st March 2019 |
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NET BOOK VALUE |
At 31st March 2019 |
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At 31st March 2018 |
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Cost or valuation at 31st March 2019 is represented by: |
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Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2019 | 220,000 | 129,521 | 349,521 |
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If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
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2019 | 2018 |
£ | £ |
Cost | 192,050 | 192,050 |
Aggregate depreciation | 38,415 | 34,573 |
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Value of land in freehold land and buildings | 153,635 | 157,477 |
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Freehold land and buildings were valued on at market value basis on 17th July 2019 by Carter Towlers . |
T. M. WEST PLUMBING SERVICES LIMITED (REGISTERED NUMBER: 02095358) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Plant and |
machinery |
etc |
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COST OR VALUATION |
At 1st April 2018 |
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Additions |
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Disposals | ( |
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Transfer to ownership | (8,943 | ) |
At 31st March 2019 |
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DEPRECIATION |
At 1st April 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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Transfer to ownership | (5,171 | ) |
At 31st March 2019 |
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NET BOOK VALUE |
At 31st March 2019 |
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At 31st March 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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T. M. WEST PLUMBING SERVICES LIMITED (REGISTERED NUMBER: 02095358) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 7,576 | 20,491 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Hire purchase contracts | 26,273 | 19,155 |
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The bank borrowings are secured over the assets of the Company. The Directors have given a combined personal guarantee |
to the bank for the sum of £43,000. |
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10. | RESERVES |
Revaluation |
reserve |
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Property revaluation reserve | 58,682 |
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At 31st March 2019 |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
T. M. WEST PLUMBING SERVICES LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited |
financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. |
Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are |
not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
statements of T. M. West Plumbing Services Limited for the year ended 31st March 2019 which comprise the Income Statement, |
Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given |
us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of T. M. West Plumbing Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of T. M. West Plumbing Services Limited and state those matters that we have agreed to state to the Board of Directors of T. M. West Plumbing Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than T. M. West Plumbing Services Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that T. M. West Plumbing Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of T. M. West Plumbing Services Limited. You consider that T. M. West Plumbing Services Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of T. M. West Plumbing 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 financial statements. |
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66 North Street |
Wetherby |
LS22 6NR |
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