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REGISTERED NUMBER: 13445900 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Praxis Construction Contractors Limited

Praxis Construction Contractors Limited (Registered number: 13445900)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Praxis Construction Contractors Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: K Taylor
P A Wright





REGISTERED OFFICE: Balmoral House
88a Granby Street
Leicester
Leicestershire
LE1 1DJ





REGISTERED NUMBER: 13445900 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Praxis Construction Contractors Limited (Registered number: 13445900)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 39,517 49,698

CURRENT ASSETS
Stocks 169,000 83,000
Debtors 5 182,427 33,495
Cash at bank and in hand 42,845 22,879
394,272 139,374
CREDITORS
Amounts falling due within one year 6 (403,414 ) (153,910 )
NET CURRENT LIABILITIES (9,142 ) (14,536 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,375

35,162

CREDITORS
Amounts falling due after more than one
year

7

(24,386

)

(28,011

)

PROVISIONS FOR LIABILITIES (1,187 ) (2,415 )
NET ASSETS 4,802 4,736

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 4,800 4,734
4,802 4,736

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Praxis Construction Contractors Limited (Registered number: 13445900)

Balance Sheet - continued
30 June 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2024 and were signed on its behalf by:




K Taylor - Director



P A Wright - Director


Praxis Construction Contractors Limited (Registered number: 13445900)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Praxis Construction Contractors 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.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Praxis Construction Contractors Limited (Registered number: 13445900)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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 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 5 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 1,886 3,487 39,500 14,295 59,168
Additions 1,110 - - 2,441 3,551
At 30 June 2023 2,996 3,487 39,500 16,736 62,719
DEPRECIATION
At 1 July 2022 471 756 4,897 3,346 9,470
Charge for year 400 683 8,651 3,998 13,732
At 30 June 2023 871 1,439 13,548 7,344 23,202
NET BOOK VALUE
At 30 June 2023 2,125 2,048 25,952 9,392 39,517
At 30 June 2022 1,415 2,731 34,603 10,949 49,698

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 182,427 17,531
Other debtors - 15,964
182,427 33,495

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts 6,389 5,623
Trade creditors 183,035 106,742
Taxation and social security 138,527 39,937
Other creditors 75,463 1,608
403,414 153,910

Praxis Construction Contractors Limited (Registered number: 13445900)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Other creditors include accruals and deferred income of £1,500.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts 24,386 28,011

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Hire purchase contracts 30,775 33,634

The hire purchase creditor is secured against the asset being acquired.

9. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £10,114 (2022: £18,754).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 June 2023 and the period ended 30 June 2022:

30.6.23 30.6.22
£    £   
K Taylor
Balance outstanding at start of year 7,982 -
Amounts advanced - 7,982
Amounts repaid (7,982 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 7,982

P A Wright
Balance outstanding at start of year 7,982 -
Amounts advanced 1,800 7,982
Amounts repaid (9,782 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 7,982

The loans are interest free and repayable on demand.