Company Registration No. 04933967 (England and Wales)
A W Matthews Heating & Plumbing Engineers Limited
Unaudited accounts
for the year ended 31 October 2019
A W Matthews Heating & Plumbing Engineers Limited
Unaudited accounts
Contents
A W Matthews Heating & Plumbing Engineers Limited
Company Information
for the year ended 31 October 2019
Directors
A W Matthews
Mrs K H Matthews
Company Number
04933967 (England and Wales)
Registered Office
Efficent Energy Centre
2 Harrow Road
Plough Lane
Hereford
HR4 0EH
England
Accountants
Armstrong Rogers & Co
45 Etnam Street
Leominster
Herefordshire
HR6 8AE
A W Matthews Heating & Plumbing Engineers Limited
Statement of financial position
as at
31 October 2019
Tangible assets
100,622
122,177
Inventories
43,000
51,000
Cash at bank and in hand
36,147
68,262
Creditors: amounts falling due within one year
(47,049)
(104,151)
Net current assets
86,910
93,690
Total assets less current liabilities
187,532
215,867
Creditors: amounts falling due after more than one year
(14,653)
(5,527)
Provisions for liabilities
Deferred tax
(15,721)
(14,347)
Net assets
157,158
195,993
Called up share capital
2
2
Profit and loss account
157,156
195,991
Shareholders' funds
157,158
195,993
For the year ending 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2020 and were signed on its behalf by
A W Matthews
Director
Company Registration No. 04933967
A W Matthews Heating & Plumbing Engineers Limited
Notes to the Accounts
for the year ended 31 October 2019
A W Matthews Heating & Plumbing Engineers Limited is a private company, limited by shares, registered in England and Wales, registration number 04933967. The registered office is Efficent Energy Centre, 2 Harrow Road, Plough Lane, Hereford, HR4 0EH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% Reducing Balance Basis
Plant & machinery
25% Reducing Balance Basis
Motor vehicles
25% Reducing Balance Basis
Other tangible fixed assets
20% Reducing Balance Basis
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. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
A W Matthews Heating & Plumbing Engineers Limited
Notes to the Accounts
for the year ended 31 October 2019
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2018
33,624
21,186
257,261
312,071
Additions
-
375
55,000
55,375
Disposals
-
-
(90,600)
(90,600)
At 31 October 2019
33,624
21,561
221,661
276,846
At 1 November 2018
22,606
14,135
153,153
189,894
Charge for the year
2,204
1,859
28,748
32,811
On disposals
-
-
(46,481)
(46,481)
At 31 October 2019
24,810
15,994
135,420
176,224
At 31 October 2019
8,814
5,567
86,241
100,622
At 31 October 2018
11,018
7,051
104,108
122,177
Finished goods
43,000
51,000
Trade debtors
47,601
59,391
Accrued income and prepayments
4,441
5,832
Other debtors
2,770
13,356
A W Matthews Heating & Plumbing Engineers Limited
Notes to the Accounts
for the year ended 31 October 2019
7
Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
5,133
-
Obligations under finance leases and hire purchase contracts
8,542
5,467
Trade creditors
20,260
88,255
Taxes and social security
4,826
6,717
Other creditors
3,720
308
Loans from directors
2,358
1,214
8
Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
8,236
5,527
9
Deferred taxation
2019
2018
Accelerated capital allowances
15,721
14,347
Provision at start of year
14,347
18,527
Charged/(credited) to the profit and loss account
1,374
(4,180)
Provision at end of year
15,721
14,347
10
Contingent liabilities
The Company has total guarantees and commitments at the balance sheet date of £15,624 (2018: £15,624).
11
Transactions with related parties
At 31 October 2019, Mrs K.H. Matthews and Mr A. W. Matthews was owed £2,358 (2018: £1,214) in respect of their Directors Current Accounts.
The Company is under the control of the Directors Mr A.W. Matthews and Mrs K.H. Matthews who together own 100% of the issued share capital.
13
Average number of employees
During the year the average number of employees was 11 (2018: 11).