REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 30 March 2021 |
|
for |
|
Precision Heating and Plumbing Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 30 March 2021 |
|
for |
|
Precision Heating and Plumbing Limited |
Precision Heating and Plumbing Limited (Registered number: 09876035) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 30 March 2021 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
Precision Heating and Plumbing Limited |
|
Company Information |
for the Year Ended 30 March 2021 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
7 Merlin Courtyard |
Gatehouse Close |
Aylesbury |
Buckinghamshire |
HP19 8DP |
Precision Heating and Plumbing Limited (Registered number: 09876035) |
|
Balance Sheet |
30 March 2021 |
|
30.3.21 | 30.3.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
|
( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
7 |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 10 |
|
|
Retained earnings | 11 |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
|
|
|
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 and authorised for issue on
|
|
|
|
|
|
|
Precision Heating and Plumbing Limited (Registered number: 09876035) |
|
Notes to the Financial Statements |
for the Year Ended 30 March 2021 |
|
1. | STATUTORY INFORMATION |
|
Precision Heating and Plumbing Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover represents the net invoiced value of sales and services, excluding value added tax. |
|
Tangible fixed assets |
|
Motor vehicles | - |
|
|
Government grants |
Grants of a revenue nature are recognised in "other income" within profit or loss in the same period as the related expenditure. |
This includes the Government COVID19 Coronavirus Job Retention Scheme ('Furlough') payments. The company has also benefitted from other forms of COVID19 business support assistance. |
|
Taxation |
Taxation for the year comprises current 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 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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
Precision Heating and Plumbing Limited (Registered number: 09876035) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2021 |
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 31 March 2020 |
and 30 March 2021 |
|
DEPRECIATION |
At 31 March 2020 |
|
Charge for year |
|
At 30 March 2021 |
|
NET BOOK VALUE |
At 30 March 2021 |
|
At 30 March 2020 |
|
|
Assets included above with a net book value of £7,197 (2020 - £9,596) are subject to a hire purchase agreement. Depreciation of £2,399 (2020 - £2,399) was charged on these assets in this period. |
|
5. | DEBTORS |
30.3.21 | 30.3.20 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
Amounts falling due after more than one year: |
Other debtors |
|
|
|
Aggregate amounts |
|
|
|
The S455 tax paid will be repayable after the associated loan is repaid. |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.3.21 | 30.3.20 |
£ | £ |
Bank loans and overdrafts (see note 8) |
|
|
Hire purchase contracts |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
Precision Heating and Plumbing Limited (Registered number: 09876035) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2021 |
|
7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.3.21 | 30.3.20 |
£ | £ |
Bank loans (see note 8) |
|
|
Hire purchase contracts |
|
|
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | 23,148 | - |
|
8. | LOANS |
|
An analysis of the maturity of loans is given below: |
|
30.3.21 | 30.3.20 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
|
|
Bank loans |
|
|
|
|
|
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
|
|
|
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | 23,148 | - |
|
9. | SECURED DEBTS |
|
In June 2020 the company borrowed £50,000 under the Bounce Back Loan Scheme. |
|
UK Government will cover any interest payable in the first 12 months through a Business Interruption Payment to the lender, and lenders benefit from a 100% government backed guarantee. |
|
The government has set the interest rate for this loan at 2.5% per annum. The company has taken advantage of the option to extend the repayment term from six to ten years. No repayments are due during the first 12 months. The company remains 100% liable to repay the full loan amount,as well as interest, after the first year. |
Precision Heating and Plumbing Limited (Registered number: 09876035) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2021 |
|
10. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.3.21 | 30.3.20 |
value: | £ | £ |
|
Ordinary | £1 | 100 | 100 |
|
11. | RESERVES |
Retained |
earnings |
£ |
|
At 31 March 2020 |
|
Profit for the year |
|
Dividends | ( |
) |
At 30 March 2021 |
|
|
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to a director subsisted during the years ended 30 March 2021 and 30 March 2020: |
|
30.3.21 | 30.3.20 |
£ | £ |
|
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
|
|
Amounts repaid |
|
|
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
( |
) |
|
There are no fixed terms for repayment of this loan. Interest is chargeable on this loan at 2.5% per annum. Interest charged for the year £559 (2020 - £nil). |
|
13. | ULTIMATE CONTROLLING PARTY |
|
The company is controlled by J P Brion who is the sole shareholder. |
|
14. | GOING CONCERN |
|
After making enquiries, the director has formed a judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence. |