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Registered number: 11894806

Priority Tunnelling Limited

ACCOUNTS
FOR THE YEAR ENDED 31/03/2023

Prepared By:
Berry Kearsley Stockwell Ltd
Accountants
Sterling House
31-32 High Street
Wellingborough
Northants
NN8 4HL

Priority Tunnelling Limited

ACCOUNTS
FOR THE YEAR ENDED 31/03/2023
DIRECTORS
Gerard Toland
Fidelma Toland
REGISTERED OFFICE
Sterling House
31/32 High Street
Wellingborough
Northants
NN8 4HL
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 11894806
ACCOUNTANTS
Berry Kearsley Stockwell Ltd
Accountants
Sterling House
31-32 High Street
Wellingborough
Northants
NN8 4HL

Priority Tunnelling Limited

ACCOUNTS
FOR THEYEARENDED31/03/2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Priority Tunnelling Limited

BALANCE SHEET AT 31/03/2023
20232022
Notes££
FIXED ASSETS
Tangible assets34,3123,750
CURRENT ASSETS
Debtors427,30025,297
Cash at bank and in hand36,81245,613
64,11270,910
CREDITORS: Amounts falling due within one year516,68815,419
NET CURRENT ASSETS47,42455,491
TOTAL ASSETS LESS CURRENT LIABILITIES51,73659,241
CREDITORS: Amounts falling due after more than one year629,11638,904
PROVISIONS FOR LIABILITIES AND CHARGES7819713
NET ASSETS21,80119,624
CAPITAL AND RESERVES
Called up share capital822
Profit and loss account21,79919,622
SHAREHOLDERS' FUNDS21,80119,624
For the year ending 31/03/2023 the company was entitled to exemption 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 04/10/2023 and signed on their behalf by
.............................
Gerard Toland
Director

Priority Tunnelling Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/03/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 25%
Commercial Vehiclesreducing balance 25%
2. EMPLOYEES
20232022
No.No.
Average number of employees22
3. TANGIBLE FIXED ASSETS
Plant andCommercial
MachineryVehiclesTotal
£££
Cost
At 01/04/20225,000-5,000
Additions-2,0002,000
At 31/03/20235,0002,0007,000
Depreciation
At 01/04/20221,250-1,250
For the year9385001,438
At 31/03/20232,1885002,688
Net Book Amounts
At 31/03/20232,8121,5004,312
At 31/03/20223,750-3,750

Priority Tunnelling Limited

4. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors1631,213
VAT185209
PAYE control18,86113,961
Directors current account8,0919,914
27,30025,297
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax5,5644,740
Loans9,7879,532
Trade creditors23472
Accruals1,1031,075
16,68815,419
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Bank loans (unsecured) >1yr29,11638,904
29,11638,904
7. PROVISIONS FOR LIABILITIES 20232022
££
Deferred taxation819713
819713

Priority Tunnelling Limited

8. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
2 Ordinary shares of £1 each22
22
9. CONTROLLING PARTY
The company is controlled by Mr Gerard Toland.
10. RELATED PARTY TRANSACTIONS
There were various transactions between the directors and the company during the year. At the end of the year the directors owed £8,091 (2022 - £9,914).