2023-06-012024-05-312024-05-31false03337018P R B FABRICATIONS LIMITED2024-08-14iso4217:GBPxbrli:pure033370182023-06-01033370182024-05-31033370182023-06-012024-05-31033370182022-06-01033370182023-05-31033370182022-06-012023-05-3103337018bus:SmallEntities2023-06-012024-05-3103337018bus:AuditExempt-NoAccountantsReport2023-06-012024-05-3103337018bus:FullAccounts2023-06-012024-05-3103337018bus:PrivateLimitedCompanyLtd2023-06-012024-05-3103337018core:WithinOneYear2024-05-3103337018core:AfterOneYear2024-05-3103337018core:WithinOneYear2023-05-3103337018core:AfterOneYear2023-05-3103337018core:ShareCapital2024-05-3103337018core:SharePremium2024-05-3103337018core:RevaluationReserve2024-05-3103337018core:OtherReservesSubtotal2024-05-3103337018core:RetainedEarningsAccumulatedLosses2024-05-3103337018core:ShareCapital2023-05-3103337018core:SharePremium2023-05-3103337018core:RevaluationReserve2023-05-3103337018core:OtherReservesSubtotal2023-05-3103337018core:RetainedEarningsAccumulatedLosses2023-05-3103337018core:LandBuildings2024-05-3103337018core:PlantMachinery2024-05-3103337018core:Vehicles2024-05-3103337018core:FurnitureFittings2024-05-3103337018core:OfficeEquipment2024-05-3103337018core:NetGoodwill2024-05-3103337018core:IntangibleAssetsOtherThanGoodwill2024-05-3103337018core:ListedExchangeTraded2024-05-3103337018core:UnlistedNon-exchangeTraded2024-05-3103337018core:LandBuildings2023-05-3103337018core:PlantMachinery2023-05-3103337018core:Vehicles2023-05-3103337018core:FurnitureFittings2023-05-3103337018core:OfficeEquipment2023-05-3103337018core:NetGoodwill2023-05-3103337018core:IntangibleAssetsOtherThanGoodwill2023-05-3103337018core:ListedExchangeTraded2023-05-3103337018core:UnlistedNon-exchangeTraded2023-05-3103337018core:LandBuildings2023-06-012024-05-3103337018core:PlantMachinery2023-06-012024-05-3103337018core:Vehicles2023-06-012024-05-3103337018core:FurnitureFittings2023-06-012024-05-3103337018core:OfficeEquipment2023-06-012024-05-3103337018core:NetGoodwill2023-06-012024-05-3103337018core:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3103337018core:ListedExchangeTraded2023-06-012024-05-3103337018core:UnlistedNon-exchangeTraded2023-06-012024-05-3103337018core:MoreThanFiveYears2023-06-012024-05-3103337018core:Non-currentFinancialInstruments2024-05-3103337018core:Non-currentFinancialInstruments2023-05-3103337018dpl:CostSales2023-06-012024-05-3103337018dpl:DistributionCosts2023-06-012024-05-3103337018core:LandBuildings2023-06-012024-05-3103337018core:PlantMachinery2023-06-012024-05-3103337018core:Vehicles2023-06-012024-05-3103337018core:FurnitureFittings2023-06-012024-05-3103337018core:OfficeEquipment2023-06-012024-05-3103337018dpl:AdministrativeExpenses2023-06-012024-05-3103337018core:NetGoodwill2023-06-012024-05-3103337018core:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3103337018dpl:GroupUndertakings2023-06-012024-05-3103337018dpl:ParticipatingInterests2023-06-012024-05-3103337018dpl:GroupUndertakingscore:ListedExchangeTraded2023-06-012024-05-3103337018core:ListedExchangeTraded2023-06-012024-05-3103337018dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-06-012024-05-3103337018core:UnlistedNon-exchangeTraded2023-06-012024-05-3103337018dpl:CostSales2022-06-012023-05-3103337018dpl:DistributionCosts2022-06-012023-05-3103337018core:LandBuildings2022-06-012023-05-3103337018core:PlantMachinery2022-06-012023-05-3103337018core:Vehicles2022-06-012023-05-3103337018core:FurnitureFittings2022-06-012023-05-3103337018core:OfficeEquipment2022-06-012023-05-3103337018dpl:AdministrativeExpenses2022-06-012023-05-3103337018core:NetGoodwill2022-06-012023-05-3103337018core:IntangibleAssetsOtherThanGoodwill2022-06-012023-05-3103337018dpl:GroupUndertakings2022-06-012023-05-3103337018dpl:ParticipatingInterests2022-06-012023-05-3103337018dpl:GroupUndertakingscore:ListedExchangeTraded2022-06-012023-05-3103337018core:ListedExchangeTraded2022-06-012023-05-3103337018dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-06-012023-05-3103337018core:UnlistedNon-exchangeTraded2022-06-012023-05-3103337018core:NetGoodwill2024-05-3103337018core:IntangibleAssetsOtherThanGoodwill2024-05-3103337018core:LandBuildings2024-05-3103337018core:PlantMachinery2024-05-3103337018core:Vehicles2024-05-3103337018core:FurnitureFittings2024-05-3103337018core:OfficeEquipment2024-05-3103337018core:AfterOneYear2024-05-3103337018core:WithinOneYear2024-05-3103337018core:ListedExchangeTraded2024-05-3103337018core:UnlistedNon-exchangeTraded2024-05-3103337018core:ShareCapital2024-05-3103337018core:SharePremium2024-05-3103337018core:RevaluationReserve2024-05-3103337018core:OtherReservesSubtotal2024-05-3103337018core:RetainedEarningsAccumulatedLosses2024-05-3103337018core:NetGoodwill2023-05-3103337018core:IntangibleAssetsOtherThanGoodwill2023-05-3103337018core:LandBuildings2023-05-3103337018core:PlantMachinery2023-05-3103337018core:Vehicles2023-05-3103337018core:FurnitureFittings2023-05-3103337018core:OfficeEquipment2023-05-3103337018core:AfterOneYear2023-05-3103337018core:WithinOneYear2023-05-3103337018core:ListedExch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P R B FABRICATIONS LIMITED

Registered Number
03337018
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

P R B FABRICATIONS LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

POWELL, Clive Ian

Registered Address

34 Boulevard
Weston Super Mare
Avon
BS23 1NF

Place of Business

Units D, E & F

The Link Centre

Oldmixon Crescent

Weston-super-Mare

BS24 9AY


Registered Number

03337018 (England and Wales)
P R B FABRICATIONS LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,112,3031,134,226
1,112,3031,134,226
Current assets
Stocks4265,175313,613
Debtors5807,3601,087,323
Cash at bank and on hand2,103,0521,678,979
3,175,5873,079,915
Creditors amounts falling due within one year6(656,092)(691,619)
Net current assets (liabilities)2,519,4952,388,296
Total assets less current liabilities3,631,7983,522,522
Creditors amounts falling due after one year7(1,425)(1,440)
Provisions for liabilities8(210,628)(234,000)
Net assets3,419,7453,287,082
Capital and reserves
Called up share capital11
Profit and loss account3,419,7443,287,081
Shareholders' funds3,419,7453,287,082
The financial statements were approved and authorised for issue by the Director on 14 August 2024, and are signed on its behalf by:
POWELL, Clive Ian
Director
Registered Company No. 03337018
P R B FABRICATIONS LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Interest income
Interest income is recognised using the effective interest rate method.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings110
Plant and machinery15-
Fixtures and fittings15-
Vehicles25-
Office Equipment50-
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year3433
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 June 23362,2071,427,65341,52494,8141,926,198
Additions-79,62192,6562,014174,291
Disposals-(38,567)--(38,567)
At 31 May 24362,2071,468,707134,18096,8282,061,922
Depreciation and impairment
At 01 June 23179,587527,11522,84762,423791,972
Charge for year14,591146,68927,8335,243194,356
On disposals-(36,709)--(36,709)
At 31 May 24194,178637,09550,68067,666949,619
Net book value
At 31 May 24168,029831,61283,50029,1621,112,303
At 31 May 23182,620900,53818,67732,3911,134,226
4.Stocks

2024

2023

££
Raw materials and consumables265,175313,613
Total265,175313,613
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables752,2021,036,547
Other debtors2,3107,533
Prepayments and accrued income52,84843,243
Total807,3601,087,323
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables256,895271,387
Amounts owed to related parties600600
Taxation and social security307,950298,984
Other creditors3,5681,218
Accrued liabilities and deferred income87,079119,430
Total656,092691,619
7.Creditors: amounts due after one year

2024

2023

££
Other creditors1,4251,440
Total1,4251,440
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)210,628234,000
Total210,628234,000
9.Operating lease commitments
At 31 May 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £208,011 (2023 – £277,111)
10.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
POWELL, Clive Ian599300,000300,000599
Interest free loan for the director, repayable on demand, included in current liabilities
599300,000300,000599