REGISTERED NUMBER: 05515030 (England and Wales)

A & R PLUMBING SUPPLIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Spencer

A P J Wright

SECRETARY:

A P J Wright

REGISTERED OFFICE:

148 Percival Road

Enfield

Middlesex

EN1 1QU

REGISTERED NUMBER:

05515030 (England and Wales)

FIXED ASSETS

Tangible assets

5

445,530

433,737

CURRENT ASSETS

Stocks

56,000

62,200

Debtors

6

50,917

45,836

Cash at bank and in hand

239,959

184,775

346,876

292,811

CREDITORS

Amounts falling due within one year

7

67,512

78,734

NET CURRENT ASSETS

279,364

214,077

TOTAL ASSETS LESS CURRENT LIABILITIES

724,894

647,814

PROVISIONS FOR LIABILITIES

5,661

4,500

NET ASSETS

719,233

643,314

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

719,231

643,312

719,233

643,314

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 April 2019 and were signed on its behalf by:

A P J Wright - Director

R Spencer - Director

1.	STATUTORY INFORMATION

A & R Plumbing Supplies Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are presented in sterling (£) which is also the functional currency for the

company.

Significant judgements and estimates

The preparation of financial statements requires management to make judgements, estimates and

assumptions about the carrying values of assets and liabilities that are not readily apparent from other

sources. The estimates and underlying assumptions are based on historical experience and other

factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects both

current and future periods.

There are no key judgements and sources of estimation uncertainty that have a significant effect on

the amounts recognised in the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and

value added taxes. Turnover includes revenue earned from the rendering of services.

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. Turnover is only recognised to the extent of

recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets

At each reporting date, property, plant and equipment are reviewed to determine whether there is any

indication that those assets have suffered an impairment loss. If there is an indication of possible

impairment, the recoverable amount of any affected asset is estimated and compared with its carrying

amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated

recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the

revised estimate of its recoverable amount, but not in excess of the amount that would have been

determined had no impairment loss been recognised for the asset in prior years. A reversal of

impairment is recognised immediately in profit or loss.

Depreciation has been computed to write off the cost of the property, plant and equipment over their

useful expected lives using the following rates:

Motor vehicles

- 20% reducing balance

Fixtures and fittings

- 10% reducing balance

Shop building

- 2% reducing balance

Stocks

Inventories have been valued at the lower of cost and the estimated selling price less costs to sell. In

respect of work in progress and finished goods, costs include a relevant proportion of overheads

dependant on the stage of completion.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of

stocks over its estimated selling price less costs to complete and sell is recognised as an impairment

loss in the profit and loss account. Reversals of impairment losses are also recognised in the profit and

loss account.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the

current or past reporting periods using tax rates that have been enacted or substantively enacted by

the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax

losses and other deferred tax assets are recognised only to the extent that it is probable that they will

be recovered against future taxable profits or against the reversal of deferred tax liabilities.

Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the

reporting date that are expected to apply to the reversal of the timing difference.

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.

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.

Trade and other debtors

Trade and other debtors are measured at transaction price less any impairment unless the

arrangement constitutes a financing transaction in which case the transaction is measured at the

present value of the future receipts discounted at the prevailing market rate of interest. Loans are

initially measured at fair value and are subsequently measured at amortised cost using the effective

interest method less any impairment.

Trade and other creditors

Trade and other creditors are measured at their transaction price unless the arrangement constitutes a

financing transaction in which case the transaction is measured at present value of future payments

discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair

value net of their transaction costs. They are subsequently measured at amortised cost using the

effective interest method.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term

deposits with an original maturity date of three months or less.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 August 2017

417,187

53,073

470,260

Additions

-

1,403

1,403

Revaluations

12,813

-

12,813

At 31 July 2018

430,000

54,476

484,476

DEPRECIATION

At 1 August 2017

486

36,037

36,523

Charge for year

484

1,939

2,423

At 31 July 2018

970

37,976

38,946

NET BOOK VALUE

At 31 July 2018

429,030

16,500

445,530

At 31 July 2017

416,701

17,036

433,737

Cost or valuation at 31 July 2018 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2018

12,813

1,403

14,216

Valuation in 2017

6,000

-

6,000

Valuation in 2016

6,000

-

6,000

Valuation in 2015

101,000

-

101,000

Cost

304,187

53,073

357,260

430,000

54,476

484,476

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

50,195

45,405

Other debtors

722

431

50,917

45,836

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

35,510

43,394

Taxation and social security

25,569

26,778

Other creditors

6,433

8,562

67,512

78,734

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

In more than five years

63,936

72,936