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REGISTERED NUMBER: 07638023 (England and Wales)















PRESTEIGNE BUILDING SUPPLIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






PRESTEIGNE BUILDING SUPPLIES LTD (REGISTERED NUMBER: 07638023)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PRESTEIGNE BUILDING SUPPLIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: B Davies
Mrs D L Davies
G P Davies





REGISTERED OFFICE: Albion House Stables
Bridge Street
Kington
Herefordshire
HR5 3DL





REGISTERED NUMBER: 07638023 (England and Wales)





ACCOUNTANTS: Davies Edwards & Co
Chartered Certified Accountants
West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ

PRESTEIGNE BUILDING SUPPLIES LTD (REGISTERED NUMBER: 07638023)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 576,458 580,941
576,458 580,941

CURRENT ASSETS
Stocks 358,519 335,778
Debtors 6 129,606 164,589
Cash at bank and in hand 28,659 10,902
516,784 511,269
CREDITORS
Amounts falling due within one year 7 560,108 510,675
NET CURRENT (LIABILITIES)/ASSETS (43,324 ) 594
TOTAL ASSETS LESS CURRENT
LIABILITIES

533,134

581,535

CREDITORS
Amounts falling due after more than one
year

8

(335,999

)

(369,279

)

PROVISIONS FOR LIABILITIES (18,580 ) (19,358 )
NET ASSETS 178,555 192,898

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 178,455 192,798
SHAREHOLDERS' FUNDS 178,555 192,898

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

PRESTEIGNE BUILDING SUPPLIES LTD (REGISTERED NUMBER: 07638023)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:





B Davies - Director


PRESTEIGNE BUILDING SUPPLIES LTD (REGISTERED NUMBER: 07638023)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Presteigne Building Supplies Ltd 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, has been amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - in accordance with the property
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost and 10% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PRESTEIGNE BUILDING SUPPLIES LTD (REGISTERED NUMBER: 07638023)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 90,000
AMORTISATION
At 1 January 2023
and 31 December 2023 90,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
property property fittings
£    £    £   
COST
At 1 January 2023 520,873 24,481 49,101
Additions 9,366 3,415 18,658
At 31 December 2023 530,239 27,896 67,759
DEPRECIATION
At 1 January 2023 53,344 10,459 27,540
Charge for year 8,662 1,745 6,034
At 31 December 2023 62,006 12,204 33,574
NET BOOK VALUE
At 31 December 2023 468,233 15,692 34,185
At 31 December 2022 467,529 14,022 21,561

PRESTEIGNE BUILDING SUPPLIES LTD (REGISTERED NUMBER: 07638023)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 147,384 4,344 746,183
Additions - - 31,439
At 31 December 2023 147,384 4,344 777,622
DEPRECIATION
At 1 January 2023 70,676 3,223 165,242
Charge for year 19,177 304 35,922
At 31 December 2023 89,853 3,527 201,164
NET BOOK VALUE
At 31 December 2023 57,531 817 576,458
At 31 December 2022 76,708 1,121 580,941

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 86,399
DEPRECIATION
At 1 January 2023 21,600
Charge for year 16,200
At 31 December 2023 37,800
NET BOOK VALUE
At 31 December 2023 48,599
At 31 December 2022 64,799

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 128,920 151,059
Tax - 12,835
Prepayments and accrued income 686 695
129,606 164,589

PRESTEIGNE BUILDING SUPPLIES LTD (REGISTERED NUMBER: 07638023)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 14,000 14,000
Hire purchase contracts 19,495 19,495
Trade creditors 60,017 43,488
Tax 1,256 -
Social security and other taxes 4,094 3,449
Pension 589 497
VAT 9,882 17,130
Directors' current accounts 446,525 408,791
Accruals and deferred income 4,250 3,825
560,108 510,675

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Mortgage 1-2 years 16,000 16,000
Mortgage 3-5 years 55,000 55,000
Mortgage over 5 years 234,353 248,138
Hire purchase contracts 30,646 50,141
335,999 369,279

Amounts falling due in more than five years:

Repayable by instalments
Mortgage over 5 years 234,353 248,138

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 January 2023 192,798
Deficit for the year (4,343 )
Dividends (10,000 )
At 31 December 2023 178,455

PRESTEIGNE BUILDING SUPPLIES LTD (REGISTERED NUMBER: 07638023)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

11. RELATED PARTY DISCLOSURES

Dividends were paid to directors in the year as follows:

04/08/2023 G P Davies £10,000.00

B Davies and Mrs D L Davies both waived their dividends.