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REGISTERED NUMBER: 04341639 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

P.M. GROUNDWORKS LIMITED

P.M. GROUNDWORKS LIMITED (REGISTERED NUMBER: 04341639)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


P.M. GROUNDWORKS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr P Murro
Mr J Murro
Mrs C Murro
Mrs S L Murro





REGISTERED OFFICE: Highview
Sower Carr Lane
Hambleton
Poulton-Le-Fylde
Lancashire
FY6 9DJ





REGISTERED NUMBER: 04341639 (England and Wales)





ACCOUNTANTS: RfM Fylde Limited
Summerdale
Head Dyke Lane
Pilling
Lancashire
PR3 6SJ

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
P.M. GROUNDWORKS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P.M. Groundworks Limited for the year ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of P.M. Groundworks Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of P.M. Groundworks Limited and state those matters that we have agreed to state to the Board of Directors of P.M. Groundworks Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P.M. Groundworks Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that P.M. Groundworks Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P.M. Groundworks Limited. You consider that P.M. Groundworks Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of P.M. Groundworks Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






RfM Fylde Limited
Summerdale
Head Dyke Lane
Pilling
Lancashire
PR3 6SJ


25 July 2024

P.M. GROUNDWORKS LIMITED (REGISTERED NUMBER: 04341639)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,265,318 1,291,734
Investments 5 500 500
Investment property 6 465,561 -
1,731,379 1,292,234

CURRENT ASSETS
Stocks 10,000 10,000
Debtors 7 2,341,829 2,204,646
Cash at bank 524,217 10,324
2,876,046 2,224,970
CREDITORS
Amounts falling due within one year 8 565,204 337,070
NET CURRENT ASSETS 2,310,842 1,887,900
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,042,221

3,180,134

CREDITORS
Amounts falling due after more than one
year

9

(463,739

)

(43,029

)

PROVISIONS FOR LIABILITIES 11 (223,736 ) (214,080 )
NET ASSETS 3,354,746 2,923,025

CAPITAL AND RESERVES
Called up share capital 12 600 600
Retained earnings 3,354,146 2,922,425
SHAREHOLDERS' FUNDS 3,354,746 2,923,025

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.M. GROUNDWORKS LIMITED (REGISTERED NUMBER: 04341639)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2024 and were signed on its behalf by:





Mr P Murro - Director


P.M. GROUNDWORKS LIMITED (REGISTERED NUMBER: 04341639)

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

1. STATUTORY INFORMATION

P.M. Groundworks 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not depreciated
Short leasehold - Straight line over 10 years
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

STOCKS
Stocks are stated at the lower of cost and estimated costs to complete and sell, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Estimated selling price less costs to complete and sell is based on the estimated selling price of the goods less any estimated completion or selling costs likely to be incurred on the sale.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


P.M. GROUNDWORKS LIMITED (REGISTERED NUMBER: 04341639)

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

2. ACCOUNTING POLICIES - continued
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.

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 30 (2022 - 26 ) .

4. TANGIBLE FIXED ASSETS
Freehold Short Plant and Motor
property leasehold machinery vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 107,558 265,590 2,166,085 374,295 2,913,528
Additions - 8,538 192,846 12,250 213,634
Disposals - - (62,750 ) - (62,750 )
At 31 December 2023 107,558 274,128 2,296,181 386,545 3,064,412
DEPRECIATION
At 1 January 2023 - 81,801 1,284,743 255,250 1,621,794
Charge for year - 26,894 157,740 32,823 217,457
Eliminated on disposal - - (40,157 ) - (40,157 )
At 31 December 2023 - 108,695 1,402,326 288,073 1,799,094
NET BOOK VALUE
At 31 December 2023 107,558 165,433 893,855 98,472 1,265,318
At 31 December 2022 107,558 183,789 881,342 119,045 1,291,734

P.M. GROUNDWORKS LIMITED (REGISTERED NUMBER: 04341639)

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 124,000 84,995 208,995
Transfer to ownership (124,000 ) - (124,000 )
At 31 December 2023 - 84,995 84,995
DEPRECIATION
At 1 January 2023 41,454 21,249 62,703
Charge for year - 15,936 15,936
Transfer to ownership (41,454 ) - (41,454 )
At 31 December 2023 - 37,185 37,185
NET BOOK VALUE
At 31 December 2023 - 47,810 47,810
At 31 December 2022 82,546 63,746 146,292

5. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 January 2023
and 31 December 2023 500
NET BOOK VALUE
At 31 December 2023 500
At 31 December 2022 500

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 465,561
At 31 December 2023 465,561
NET BOOK VALUE
At 31 December 2023 465,561

P.M. GROUNDWORKS LIMITED (REGISTERED NUMBER: 04341639)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 390,881 623,524
Amounts owed by participating interests 622,856 462,776
Amounts owed by associates 1,266,111 1,034,091
Other debtors 61,981 84,255
2,341,829 2,204,646

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 47,106 -
Hire purchase contracts 19,124 40,596
Trade creditors 218,320 217,852
Amounts owed to associates - 2,169
Taxation and social security 168,417 53,359
Other creditors 112,237 23,094
565,204 337,070

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 439,834 -
Hire purchase contracts 23,905 43,029
463,739 43,029

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 236,365 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 486,940 -
Hire purchase contracts 43,029 83,625
529,969 83,625

Amounts due under hire purchase contracts are secured over the assets to which they relate.

Bank loans are secured by way of legal charges over the investment property Northlands, Sower Carr Lane, and a debenture over all assets of the company.

P.M. GROUNDWORKS LIMITED (REGISTERED NUMBER: 04341639)

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

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 223,736 214,080

Deferred
tax
£   
Balance at 1 January 2023 214,080
Provided during year 9,656
Balance at 31 December 2023 223,736

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
500 Ordinary B £1 500 500
600 600

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
Mr J Murro and Mrs S L Murro
Balance outstanding at start of year 70,000 -
Amounts advanced 15,745 70,000
Amounts repaid (70,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,745 70,000

The directors loans were made on an interest free basis and have been repaid after the year end.