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Registration number: 11148086

P&K Construction (Holdings) Ltd

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

 

P&K Construction (Holdings) Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 6

 

P&K Construction (Holdings) Ltd

Company Information

Directors

Mr J A Kirk

Mr S C Pelly

Registered office

Harmire Enterprise Park
Barnard Castle
County Durham
DL12 8EH

Accountants

Azets
Wynyard Park House
Wynyard Avenue
Wynyard
TS22 5TB

 

P&K Construction (Holdings) Ltd

(Registration number: 11148086)
Statement of Financial Position as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

245,416

245,416

Investments

5

1,260,036

1,260,036

 

1,505,452

1,505,452

Current assets

 

Debtors

6

10,709

-

Cash at bank and in hand

 

5,370

7,212

 

16,079

7,212

Creditors: Amounts falling due within one year

7

(1,180,841)

(1,118,001)

Net current liabilities

 

(1,164,762)

(1,110,789)

Total assets less current liabilities

 

340,690

394,663

Creditors: Amounts falling due after more than one year

7

(435,993)

(469,535)

Net liabilities

 

(95,303)

(74,872)

Capital and reserves

 

Called up share capital

2,000

2,000

Profit and loss account

(97,303)

(76,872)

Total equity

 

(95,303)

(74,872)

For the financial year ending 30 April 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; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised for issue by the Board on 20 December 2023 and signed on its behalf by:
 

.........................................
Mr J A Kirk
Director

   
     
 

P&K Construction (Holdings) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is Harmire Enterprise Park, Barnard Castle, County Durham, DL12 8EH.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are prepared in sterling which is the functional currency of the entity.

Group accounts not prepared

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Going concern

At the year end the company has net current liabilities of £1,164,762 and net liabilities of £95,303. The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of the use of this basis depends on the continued support of its wholly owned subsidiary companies: P&K Fabrications Limited, S&A Fabrications (Holdings) Limited, S&A Fabrications Limited, Roundhouse Building Solutions Ltd and Roundhouse Building Solutions (Holdings) Limited.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing these financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss,
except that a charge attributable to an item of income or expense recognised as other comprehensive
income is also recognised directly in other comprehensive income.

 

P&K Construction (Holdings) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively
enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

P&K Construction (Holdings) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Investment properties

2023
£

At 1 May

245,416

At 30 April

245,416

In the directors' opinion there has been no movement in the fair value of the company's investment property since acquisition.

5

Investments

2023
£

2022
£

Investments in subsidiaries

1,260,036

1,260,036


 

6

Debtors

2023
£

2022
£

Other debtors

10,709

-

10,709

-

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Bank loans and overdrafts

33,867

34,057

Amounts owed to group undertakings

998,141

937,641

Accruals and deferred income

8,083

5,553

Directors loan accounts

140,750

140,750

1,180,841

1,118,001


Bank loans and borrowings are secured against the assets of the company and those of all subsidiary undertakings.

 

P&K Construction (Holdings) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

7

Creditors (continued)

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Loans and borrowings

435,993

469,535


 

2023
£

2022
£

Due after more than five years

After more than five years by instalments

147,190

178,488

-

-


Bank loans and borrowings are secured against the assets of the company and those of all subsidiary undertakings.

8

Related party transactions

At the year end the company owed £70,350 (2022: £70,350) to Mr J A Kirk in respect of a director's loan account.

At the year end the company owed £70,400 (2022: £70,400) to Mr S C Pelly in respect of a director's loan account.