REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MARCH 2020 |
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COVENTRY PLUMBING & HEATING SUPPLIES |
(NUNEATON) LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MARCH 2020 |
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FOR |
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COVENTRY PLUMBING & HEATING SUPPLIES |
(NUNEATON) LIMITED |
COVENTRY PLUMBING & HEATING SUPPLIES |
(NUNEATON) LIMITED (REGISTERED NUMBER: 07392099) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2020 |
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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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COVENTRY PLUMBING & HEATING SUPPLIES |
(NUNEATON) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants and Tax Advisers |
1 & 2 Mercia Village |
Torwood Close |
Westwood Business Park |
Coventry |
West Midlands |
CV4 8HX |
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BANKERS: |
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118 Walsgrave Road |
Coventry |
West Midlands |
CV2 4ZZ |
COVENTRY PLUMBING & HEATING SUPPLIES |
(NUNEATON) LIMITED (REGISTERED NUMBER: 07392099) |
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BALANCE SHEET |
31ST MARCH 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 10 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings | 12 |
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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. |
COVENTRY PLUMBING & HEATING SUPPLIES |
(NUNEATON) LIMITED (REGISTERED NUMBER: 07392099) |
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BALANCE SHEET - continued |
31ST MARCH 2020 |
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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 and authorised for issue on
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COVENTRY PLUMBING & HEATING SUPPLIES |
(NUNEATON) LIMITED (REGISTERED NUMBER: 07392099) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2020 |
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1. | STATUTORY INFORMATION |
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Coventry Plumbing & Heating Supplies (Nuneaton) Limited is a
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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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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks 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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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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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. |
COVENTRY PLUMBING & HEATING SUPPLIES |
(NUNEATON) LIMITED (REGISTERED NUMBER: 07392099) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
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 |
£ |
COST |
At 1st April 2019 |
and 31st March 2020 |
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AMORTISATION |
At 1st April 2019 |
and 31st March 2020 |
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NET BOOK VALUE |
At 31st March 2020 |
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At 31st March 2019 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1st April 2019 |
and 31st March 2020 |
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DEPRECIATION |
At 1st April 2019 |
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Charge for year |
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At 31st March 2020 |
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NET BOOK VALUE |
At 31st March 2020 |
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At 31st March 2019 |
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6. | STOCKS |
2020 | 2019 |
£ | £ |
Stocks |
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COVENTRY PLUMBING & HEATING SUPPLIES |
(NUNEATON) LIMITED (REGISTERED NUMBER: 07392099) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2020 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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Pension Account | 523 | - |
Prepayments |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Amounts owed to participating interests | 23,246 | 33,246 |
Corporation tax |
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Social security and other taxes |
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VAT | 21,063 | 23,328 |
Accrued expenses |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2020 | 2019 |
£ | £ |
Within one year |
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Between one and five years |
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10. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
£ | £ |
Deferred tax | 659 | 2,773 |
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Deferred |
tax |
£ |
Balance at 1st April 2019 |
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Charge for the year | (2,114 | ) |
Balance at 31st March 2020 |
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COVENTRY PLUMBING & HEATING SUPPLIES |
(NUNEATON) LIMITED (REGISTERED NUMBER: 07392099) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2020 |
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11. | CALLED UP SHARE CAPITAL |
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Number: | Class: | Nominal value: | 2017 | 2016 |
100 | Ordinary | £1 | 100 | 100 |
2 | Ordinary B | £1 | 2 | 2 |
2 | Ordinary C | £1 | 2 | 2 |
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104 | 104 |
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12. | RESERVES |
Retained |
earnings |
£ |
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At 1st April 2019 |
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Profit for the year |
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Dividends | ( |
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At 31st March 2020 |
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13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The directors have signified that their director current accounts have always been kept in credit and that they will not charge any interest on the monies held in their director current accounts. |
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14. | RELATED PARTY DISCLOSURES |
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COVENTRY PLUMBING & HEATING SUPPLIES LIMITED |
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Mr G Harris, who is a director of the company also holds 100% of the ordinary shares in Coventry Plumbing & Heating Supplies Limited. During the year, the company has made sales of £9,752.58 (2019)£8,261 to Coventry Plumbing & Heating Supplies Limited and the balance outstanding at the year end is £0 (2019)£188. |
During the year, the company has also made purchases of £1,255,968.07 (2019)£1,059,576 from Coventry Plumbing & Heating Supplies Limited and the balance payable at the year end is £202,163 (2019)£162,506. |
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All transactions were at normal price and on normal business terms. |
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15. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by Mr G Harris (Director) who holds 100% of the ordinary issued share capital. |