Company Registration No. NI620310 (Northern Ireland)
PC Plant & Construction LTD
Unaudited accounts
for the year ended 31 March 2024
PC Plant & Construction LTD
Unaudited accounts
Contents
PC Plant & Construction LTD
Statement of financial position
as at 31 March 2024
Tangible assets
740,901
858,022
Inventories
1,171,265
1,356,462
Cash at bank and in hand
567,674
200,788
Creditors: amounts falling due within one year
(729,191)
(780,935)
Net current assets
1,764,369
1,704,062
Total assets less current liabilities
2,505,270
2,562,084
Creditors: amounts falling due after more than one year
(85,117)
(153,035)
Provisions for liabilities
Deferred tax
(100,152)
(161,445)
Net assets
2,320,001
2,247,604
Called up share capital
100
100
Profit and loss account
2,319,901
2,247,504
Shareholders' funds
2,320,001
2,247,604
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 August 2024 and were signed on its behalf by
Padraig Cunningham
Director
Company Registration No. NI620310
PC Plant & Construction LTD
Notes to the Accounts
for the year ended 31 March 2024
PC Plant & Construction LTD is a private company, limited by shares, registered in Northern Ireland, registration number NI620310. The registered office is 3 BURRENHILL, BURREN, WARRENPOINT, DOWN, BT34 3RF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Fixtures & fittings
20% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
PC Plant & Construction LTD
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2023
1,812,145
7,006
1,819,151
Disposals
(100,500)
-
(100,500)
At 31 March 2024
1,790,703
7,006
1,797,709
At 1 April 2023
955,273
5,856
961,129
Charge for the year
167,086
230
167,316
On disposals
(71,637)
-
(71,637)
At 31 March 2024
1,050,722
6,086
1,056,808
At 31 March 2024
739,981
920
740,901
At 31 March 2023
856,872
1,150
858,022
Amounts falling due within one year
Trade debtors
177,466
101,091
Accrued income and prepayments
33,157
-
Other debtors
515,257
748,119
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,633
10,633
Obligations under finance leases and hire purchase contracts
27,344
57,884
Trade creditors
293,032
308,870
Taxes and social security
73,094
32,990
Loans from directors
321,888
345,958
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
6,584
31,328
Other creditors
65,749
100,000
PC Plant & Construction LTD
Notes to the Accounts
for the year ended 31 March 2024
8
Average number of employees
During the year the average number of employees was 6 (2023: 11).