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REGISTERED NUMBER: 02057161 (England and Wales)















P.B.M. CONTRACTORS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






P.B.M. CONTRACTORS LIMITED (REGISTERED NUMBER: 02057161)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P.B.M. CONTRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: B J McGarry
N M P McGarry





SECRETARY: N M P McGarry





REGISTERED OFFICE: 15-17 Green Lane
Small Heath
Birmingham
West Midlands
B9 5BU





REGISTERED NUMBER: 02057161 (England and Wales)





ACCOUNTANTS: Sephton & Company LLP
Chartered Certified Accountants
Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL

P.B.M. CONTRACTORS LIMITED (REGISTERED NUMBER: 02057161)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,739,762 1,499,432

CURRENT ASSETS
Stocks 105,330 30,975
Debtors 5 505,823 589,989
Cash at bank and in hand 118,568 120,027
729,721 740,991
CREDITORS
Amounts falling due within one year 6 654,340 643,443
NET CURRENT ASSETS 75,381 97,548
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,815,143

1,596,980

CREDITORS
Amounts falling due after more than one
year

7

(657,000

)

(444,284

)

PROVISIONS FOR LIABILITIES (305,723 ) (255,475 )
NET ASSETS 852,420 897,221

CAPITAL AND RESERVES
Called up share capital 18 18
Retained earnings 852,402 897,203
SHAREHOLDERS' FUNDS 852,420 897,221

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.

P.B.M. CONTRACTORS LIMITED (REGISTERED NUMBER: 02057161)

BALANCE SHEET - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 May 2024 and were signed on its behalf by:





B J McGarry - Director


P.B.M. CONTRACTORS LIMITED (REGISTERED NUMBER: 02057161)

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


1. STATUTORY INFORMATION

P.b.m. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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 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 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.

P.B.M. CONTRACTORS LIMITED (REGISTERED NUMBER: 02057161)

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.

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 32 (2022 - 31 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 3,042,225 6,084 547,160 29,623 3,625,092
Additions 541,380 - 34,500 - 575,880
At 31 December 2023 3,583,605 6,084 581,660 29,623 4,200,972
DEPRECIATION
At 1 January 2023 1,743,817 5,488 350,249 26,106 2,125,660
Charge for year 275,922 81 57,846 1,701 335,550
At 31 December 2023 2,019,739 5,569 408,095 27,807 2,461,210
NET BOOK VALUE
At 31 December 2023 1,563,866 515 173,565 1,816 1,739,762
At 31 December 2022 1,298,408 596 196,911 3,517 1,499,432

P.B.M. CONTRACTORS LIMITED (REGISTERED NUMBER: 02057161)

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


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 993,945 298,428 1,292,373
Additions 481,500 34,500 516,000
At 31 December 2023 1,475,445 332,928 1,808,373
DEPRECIATION
At 1 January 2023 293,247 157,748 450,995
Charge for year 177,327 43,794 221,121
At 31 December 2023 470,574 201,542 672,116
NET BOOK VALUE
At 31 December 2023 1,004,871 131,386 1,136,257
At 31 December 2022 700,698 140,680 841,378

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 359,217 426,524
Other debtors 146,606 163,465
505,823 589,989

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 268,110 191,584
Trade creditors 289,145 284,016
Taxation and social security 30,949 37,265
Other creditors 66,136 130,578
654,340 643,443

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 657,000 444,284

P.B.M. CONTRACTORS LIMITED (REGISTERED NUMBER: 02057161)

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


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 268,110 191,584
Between one and five years 657,000 444,284
925,110 635,868

Non-cancellable operating leases
2023 2022
£    £   
Within one year 1,844 11,063
Between one and five years - 1,844
1,844 12,907

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 925,110 635,868

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
B J McGarry
Balance outstanding at start of year 36,971 45,542
Amounts advanced 37,529 73,971
Amounts repaid (36,971 ) (82,542 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,529 36,971