IRIS Accounts Production v23.3.1.45 03313419 Board of Directors 1.3.22 28.2.23 28.2.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure033134192022-02-28033134192023-02-28033134192022-03-012023-02-28033134192021-02-28033134192021-03-012022-02-28033134192022-02-2803313419ns16:EnglandWales2022-03-012023-02-2803313419ns15:PoundSterling2022-03-012023-02-2803313419ns11:Director12022-03-012023-02-2803313419ns11:PrivateLimitedCompanyLtd2022-03-012023-02-2803313419ns11:SmallEntities2022-03-012023-02-2803313419ns11:AuditExempt-NoAccountantsReport2022-03-012023-02-2803313419ns11:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2803313419ns11:SmallCompaniesRegimeForAccounts2022-03-012023-02-2803313419ns11:FullAccounts2022-03-012023-02-2803313419ns11:Director22022-03-012023-02-2803313419ns11:RegisteredOffice2022-03-012023-02-2803313419ns6:CurrentFinancialInstruments2023-02-2803313419ns6:CurrentFinancialInstruments2022-02-2803313419ns6:Non-currentFinancialInstruments2023-02-2803313419ns6:Non-currentFinancialInstruments2022-02-2803313419ns6:ShareCapital2023-02-2803313419ns6:ShareCapital2022-02-2803313419ns6:RetainedEarningsAccumulatedLosses2023-02-2803313419ns6:RetainedEarningsAccumulatedLosses2022-02-2803313419ns6:LongLeaseholdAssetsns6:LandBuildings2022-03-012023-02-2803313419ns6:PlantMachinery2022-03-012023-02-2803313419ns6:FurnitureFittings2022-03-012023-02-2803313419ns6:MotorVehicles2022-03-012023-02-2803313419ns6:ComputerEquipment2022-03-012023-02-2803313419ns6:LongLeaseholdAssetsns6:LandBuildings2022-02-2803313419ns6:PlantMachinery2022-02-2803313419ns6:FurnitureFittings2022-02-2803313419ns6:LongLeaseholdAssetsns6:LandBuildings2023-02-2803313419ns6:PlantMachinery2023-02-2803313419ns6:FurnitureFittings2023-02-2803313419ns6:LongLeaseholdAssetsns6:LandBuildings2022-02-2803313419ns6:PlantMachinery2022-02-2803313419ns6:FurnitureFittings2022-02-2803313419ns6:MotorVehicles2022-02-2803313419ns6:ComputerEquipment2022-02-2803313419ns6:MotorVehicles2023-02-2803313419ns6:ComputerEquipment2023-02-2803313419ns6:MotorVehicles2022-02-2803313419ns6:ComputerEquipment2022-02-2803313419ns6:WithinOneYearns6:CurrentFinancialInstruments2023-02-2803313419ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-2803313419ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-02-2803313419ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-02-2803313419ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-02-2803313419ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-02-2803313419ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2023-02-2803313419ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2022-02-2803313419ns6:Secured2023-02-2803313419ns6:Secured2022-02-28
REGISTERED NUMBER: 03313419 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Pryce (Builders) Limited

Pryce (Builders) Limited (Registered number: 03313419)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pryce (Builders) Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mrs R A Pryce
A Pryce





REGISTERED OFFICE: Leonard Street
Oakengates
Telford
Shropshire
TF2 6EU





REGISTERED NUMBER: 03313419 (England and Wales)





ACCOUNTANTS: Tranter Lowe (Oakengates) Limited
Chartered Accountants
International House
6 Market Street
Oakengates
Telford
Shropshire
TF2 6EF

Pryce (Builders) Limited (Registered number: 03313419)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 93,491 80,948
Investment property 5 320,000 320,000
413,491 400,948

CURRENT ASSETS
Stocks 20,000 -
Debtors 6 246,889 252,951
Cash at bank 367,179 264,322
634,068 517,273
CREDITORS
Amounts falling due within one year 7 232,501 182,915
NET CURRENT ASSETS 401,567 334,358
TOTAL ASSETS LESS CURRENT
LIABILITIES

815,058

735,306

CREDITORS
Amounts falling due after more than one
year

8

(35,482

)

(41,357

)

PROVISIONS FOR LIABILITIES (20,682 ) (14,476 )
NET ASSETS 758,894 679,473

CAPITAL AND RESERVES
Called up share capital 10 204 204
Retained earnings 758,690 679,269
SHAREHOLDERS' FUNDS 758,894 679,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

Pryce (Builders) Limited (Registered number: 03313419)

Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by:





A Pryce - Director


Pryce (Builders) Limited (Registered number: 03313419)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Pryce (Builders) 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost
Plant and machinery - 15% on reducing balance
Office equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 50% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Pryce (Builders) Limited (Registered number: 03313419)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Long Plant and Office
leasehold machinery equipment
£    £    £   
COST
At 1 March 2022 8,500 137,090 10,151
Additions - - 3,589
Disposals - (4,345 ) -
At 28 February 2023 8,500 132,745 13,740
DEPRECIATION
At 1 March 2022 3,739 114,734 7,664
Charge for year 170 3,354 912
Eliminated on disposal - (3,082 ) -
At 28 February 2023 3,909 115,006 8,576
NET BOOK VALUE
At 28 February 2023 4,591 17,739 5,164
At 28 February 2022 4,761 22,356 2,487

Pryce (Builders) Limited (Registered number: 03313419)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2022 124,840 4,123 284,704
Additions 36,991 - 40,580
Disposals - - (4,345 )
At 28 February 2023 161,831 4,123 320,939
DEPRECIATION
At 1 March 2022 74,512 3,107 203,756
Charge for year 21,830 508 26,774
Eliminated on disposal - - (3,082 )
At 28 February 2023 96,342 3,615 227,448
NET BOOK VALUE
At 28 February 2023 65,489 508 93,491
At 28 February 2022 50,328 1,016 80,948

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 320,000
NET BOOK VALUE
At 28 February 2023 320,000
At 28 February 2022 320,000

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2022 10,000
Cost 310,000
320,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 102,744 57,160
Other debtors 35,856 37,080
Loan Associated Company 108,000 158,464
Prepayments 289 247
246,889 252,951

Pryce (Builders) Limited (Registered number: 03313419)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 5,000 5,000
Trade creditors 141,310 102,334
Tax 3,911 -
Social security and other taxes 71,866 57,604
Other creditors 4,229 14,489
Directors' current accounts 1,785 1,141
Accrued expenses 4,400 2,347
232,501 182,915

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans - 1-2 years 5,000 5,000
Bank loans - 2-5 years 15,000 15,000
Bank loans more 5 yr by instal 15,482 21,357
35,482 41,357

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,482 21,357

9. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 40,482 46,357

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
204 Ordinary £1 204 204