Registration number:
Barnet Plumbing and Bathrooms Ltd
for the Year Ended 30 November 2022
Barnet Plumbing and Bathrooms Ltd
Contents
Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Barnet Plumbing and Bathrooms Ltd
Company Information
Directors |
R Gates DH Sheridan |
Registered office |
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Accountants |
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Barnet Plumbing and Bathrooms Ltd
(Registration number: 11688356)
Abridged Balance Sheet as at 30 November 2022
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2021 |
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fixed assets |
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Intangible assets |
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tangible assets |
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Current assets |
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stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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For the financial year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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
Barnet Plumbing and Bathrooms Ltd
(Registration number: 11688356)
Abridged Balance Sheet as at 30 November 2022
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Barnet Plumbing and Bathrooms Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2022
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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
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 balance sheet 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 |
Office equipment |
33.3% straight line basis |
Barnet Plumbing and Bathrooms Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2022
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
over 15 years |
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Barnet Plumbing and Bathrooms Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2022
Intangible assets |
Total |
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Cost or valuation |
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At 1 December 2021 |
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At 30 November 2022 |
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Amortisation |
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At 1 December 2021 |
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Amortisation charge |
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At 30 November 2022 |
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Carrying amount |
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At 30 November 2022 |
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At 30 November 2021 |
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Tangible assets |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 December 2021 |
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At 30 November 2022 |
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Depreciation |
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At 1 December 2021 |
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Charge for the year |
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At 30 November 2022 |
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Carrying amount |
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At 30 November 2022 |
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At 30 November 2021 |
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Share capital |
Allotted, called up and fully paid shares
Barnet Plumbing and Bathrooms Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2022
2022 |
2021 |
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No. |
£ |
No. |
£ |
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100 |
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100 |