2022-02-012023-01-312023-01-31false03860697PMB BUILDERS 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PMB BUILDERS LIMITED

Registered Number
03860697
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2023

PMB BUILDERS LIMITED
Company Information
for the year from 1 February 2022 to 31 January 2023

Director

BRIDGMAN, Paul Morgan

Registered Address

6 St. Arilds Road
Didmarton
GL9 1DP

Registered Number

03860697 (England and Wales)
PMB BUILDERS LIMITED
Balance Sheet as at
31 January 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets528,17925,614
28,17925,614
Current assets
Stocks6-18,674
Debtors716,8652,435
Cash at bank and on hand59,24075,799
76,10596,908
Creditors amounts falling due within one year8(79,187)(75,213)
Net current assets (liabilities)(3,082)21,695
Total assets less current liabilities25,09747,309
Provisions for liabilities(5,354)(4,867)
Net assets19,74342,442
Capital and reserves
Called up share capital22
Profit and loss account19,74142,440
Shareholders' funds19,74342,442
The financial statements were approved and authorised for issue by the Director on 2 October 2023, and are signed on its behalf by:
BRIDGMAN, Paul Morgan
Director
Registered Company No. 03860697
PMB BUILDERS LIMITED
Notes to the Financial Statements
for the year ended 31 January 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies are set out below.
3.Accounting policies
Turnover policy
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Property, plant and equipment policy
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Stocks policy
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential. 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 profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Revenue recognition policy
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
Taxation policy
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax policy
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Employee benefits policy
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
4.Employee information

20232022
Average number of employees during the year33
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 February 2288,242
Additions12,200
Disposals(5,729)
At 31 January 2394,712
Depreciation and impairment
At 01 February 2262,628
Charge for year9,393
On disposals(5,487)
At 31 January 2366,534
Net book value
At 31 January 2328,179
At 31 January 2225,614
6.Stocks

2023

2022

££
Work in progress-18,674
Total-18,674
7.Debtors

2023

2022

££
Other debtors16,2122,435
Prepayments and accrued income653-
Total16,8652,435
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables8,154-
Taxation and social security96010,135
Other creditors68,77363,328
Accrued liabilities and deferred income1,3001,750
Total79,18775,213
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.