Company Registration No. 06504946 (England and Wales)
Joy Plumbing Limited
Unaudited accounts
for the year ended 31 March 2023
Joy Plumbing Limited
Unaudited accounts
Contents
Joy Plumbing Limited
Company Information
for the year ended 31 March 2023
Company Number
06504946 (England and Wales)
Registered Office
62 COBHAM ROAD
FERNDOWN INDUSTRIAL ESTATE
WIMBORNE
DORSET
BH21 7QH
ENGLAND
Joy Plumbing Limited
Statement of financial position
as at 31 March 2023
Tangible assets
95,776
91,406
Inventories
173,000
113,000
Cash at bank and in hand
(1,639)
(25,393)
Creditors: amounts falling due within one year
(604,089)
(413,995)
Net current liabilities
(71,438)
(38,632)
Total assets less current liabilities
60,338
72,274
Creditors: amounts falling due after more than one year
(112,959)
(141,863)
Provisions for liabilities
Deferred tax
(7,724)
(7,724)
Net liabilities
(60,345)
(77,313)
Called up share capital
1,000
1,000
Profit and loss account
(61,345)
(78,313)
Shareholders' funds
(60,345)
(77,313)
For the year ending 31 March 2023 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 21 December 2023 and were signed on its behalf by
D Cross
Director
Company Registration No. 06504946
Joy Plumbing Limited
Notes to the Accounts
for the year ended 31 March 2023
Joy Plumbing Limited is a private company, limited by shares, registered in England and Wales, registration number 06504946. The registered office is 62 COBHAM ROAD, FERNDOWN INDUSTRIAL ESTATE, WIMBORNE, DORSET, BH21 7QH, 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing Balacne
Fixtures & fittings
15% Reducing Balance
Computer equipment
33.3% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 assets and liabilities are not discounted.
Joy Plumbing Limited
Notes to the Accounts
for the year ended 31 March 2023
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2022
211,385
14,112
225,497
Additions
6,120
1,140
7,260
Revaluations
(54,115)
-
(54,115)
At 31 March 2023
163,390
15,252
178,642
At 1 April 2022
121,498
12,593
134,091
Surplus on revaluation
(51,225)
-
(51,225)
At 31 March 2023
70,273
12,593
82,866
At 31 March 2023
93,117
2,659
95,776
At 31 March 2022
89,887
1,519
91,406
Joy Plumbing Limited
Notes to the Accounts
for the year ended 31 March 2023
6
Investments
Other investments
Valuation at 1 April 2022
19,500
Valuation at 31 March 2023
36,000
Amounts falling due within one year
Trade debtors
241,183
177,648
Other debtors
120,107
110,108
8
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
-
8,333
Obligations under finance leases and hire purchase contracts
-
19,349
Trade creditors
224,792
125,435
Amounts owed to group undertakings and other participating interests
16,858
16,858
Taxes and social security
185,320
103,028
Other creditors
63,757
116,956
9
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
63,319
70,308
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).