PNM Construction Limited
Registered number: 09829925
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 48,879 32,972
Current assets
Debtors 4 1,635,925 1,432,945
Cash at bank and in hand 59,081 94,812
1,695,006 1,527,757
Creditors: amounts falling due within one year 5 (188,627) (229,925)
Net current assets 1,506,379 1,297,832
Total assets less current liabilities 1,555,258 1,330,804
Creditors: amounts falling due after more than one year 6 (95,471) (129,842)
Net assets 1,459,787 1,200,962
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,459,687 1,200,862
Shareholder's funds 1,459,787 1,200,962
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Satinderpal singh
Director
Approved by the board on 3 October 2024
PNM Construction Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Motor vehicle 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Functional and presentation currency
The financial statements of the company are measured and presented in the currency of the primary economic environment in which the company operates, the functional currency. The financial statements are presented in Pound sterling (£), which is the company’s functional currency.
Employee benefits
Short-term employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Post-employment defined contribution plans
Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.

Termination benefits
Provisions for termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or of a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.
Going concern
The financial statements have been prepared on the basis that the company will receive continued financial support from bank and directors and has adequate resources to continue in operational existence for the foreseeable future.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 5
3 Tangible fixed assets
Fixtures, fittings tools and equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2023 14,808 30,692 45,500
Additions 2,252 25,875 28,127
At 31 March 2024 17,060 56,567 73,627
Depreciation
At 1 April 2023 6,390 6,138 12,528
Charge for the year 2,134 10,086 12,220
At 31 March 2024 8,524 16,224 24,748
Net book value
At 31 March 2024 8,536 40,343 48,879
At 31 March 2023 8,418 24,554 32,972
4 Debtors 2024 2023
£ £
Trade debtors 389,598 296,161
Other debtors 1,246,327 1,136,784
1,635,925 1,432,945
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 66,483 85,690
Corporation tax 94,295 73,811
Other taxes and social security costs 25,848 57,384
Other creditors 2,001 13,040
188,627 229,925
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 95,471 129,842
7 Related party transactions
Included within other creditors is a director's loan to company of Nil (2023 - £4,190).

Included within other debtors is a company's loan to P&M Services Ltd of £1,201,990 (2023 - £1,136,784) at an annual interest rate of 3% and loan to director of £25,000 (2023 - Nil).
8 Controlling party
Satinderpal singh is the ultimate controlling party.
9 Other information
PNM Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Cambridge Road
Ilford
Essex
IG3 8LU
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