4 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 5405083 2022-04-01 2023-03-31 5405083 2023-03-31 5405083 2022-03-31 5405083 2021-04-01 2022-03-31 5405083 2022-03-31 5405083 core:PlantMachinery 2022-04-01 2023-03-31 5405083 core:MotorVehicles 2022-04-01 2023-03-31 5405083 bus:Director1 2022-04-01 2023-03-31 5405083 core:LandBuildings 2022-03-31 5405083 core:PlantMachinery 2022-03-31 5405083 core:MotorVehicles 2022-03-31 5405083 core:LandBuildings 2023-03-31 5405083 core:PlantMachinery 2023-03-31 5405083 core:MotorVehicles 2023-03-31 5405083 core:WithinOneYear 2023-03-31 5405083 core:WithinOneYear 2022-03-31 5405083 core:AfterOneYear 2023-03-31 5405083 core:AfterOneYear 2022-03-31 5405083 core:ShareCapital 2023-03-31 5405083 core:ShareCapital 2022-03-31 5405083 core:RetainedEarningsAccumulatedLosses 2023-03-31 5405083 core:RetainedEarningsAccumulatedLosses 2022-03-31 5405083 core:LandBuildings 2022-03-31 5405083 core:PlantMachinery 2022-03-31 5405083 core:MotorVehicles 2022-03-31 5405083 bus:SmallEntities 2022-04-01 2023-03-31 5405083 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 5405083 bus:FullAccounts 2022-04-01 2023-03-31 5405083 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 5405083 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 5405083
PENRHYN PAVING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2023
PENRHYN PAVING LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
220,702
211,120
Current assets
Stocks
122,166
140,466
Debtors
6
283,053
581,756
Cash at bank and in hand
529,145
328,013
---------
------------
934,364
1,050,235
Creditors: amounts falling due within one year
7
190,243
333,662
---------
------------
Net current assets
744,121
716,573
---------
---------
Total assets less current liabilities
964,823
927,693
Creditors: amounts falling due after more than one year
8
126,812
36,401
Provisions
Taxation including deferred tax
38,199
36,378
---------
---------
Net assets
799,812
854,914
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
799,712
854,814
---------
---------
Shareholders funds
799,812
854,914
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PENRHYN PAVING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 22 November 2023 , and are signed on behalf of the board by:
Mr B D Sweeney
Director
Company registration number: 5405083
PENRHYN PAVING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bryn Eirian, Penrhyndeudraeth, Gwynedd, LL48 6BA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
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 rates and laws.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are valued at cost and work in progress is valued at cost of labour not invoiced.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2022
19,655
189,649
128,237
138,938
476,479
Additions
18,812
31,689
50,501
--------
---------
---------
---------
---------
At 31 March 2023
19,655
208,461
128,237
170,627
526,980
--------
---------
---------
---------
---------
Depreciation
At 1 April 2022
102,922
85,616
76,821
265,359
Charge for the year
16,188
10,655
14,076
40,919
--------
---------
---------
---------
---------
At 31 March 2023
119,110
96,271
90,897
306,278
--------
---------
---------
---------
---------
Carrying amount
At 31 March 2023
19,655
89,351
31,966
79,730
220,702
--------
---------
---------
---------
---------
At 31 March 2022
19,655
86,727
42,621
62,117
211,120
--------
---------
---------
---------
---------
6. Debtors
2023
2022
£
£
Trade debtors
208,197
540,256
Other debtors
74,856
41,500
---------
---------
283,053
581,756
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,595
9,595
Trade creditors
158,752
206,112
Corporation tax
9,515
45,379
Social security and other taxes
3,046
30,799
Other creditors
9,335
41,777
---------
---------
190,243
333,662
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
26,812
36,401
Other creditors
100,000
---------
--------
126,812
36,401
---------
--------
9. Directors' advances, credits and guarantees
There are no Directors' advances, credits or guarantees that need to be disclosed in the financial statements.