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REGISTERED NUMBER: 12516291 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PRESTONS CONSTRUCTION LIMITED

PRESTONS CONSTRUCTION LIMITED (REGISTERED NUMBER: 12516291)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRESTONS CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J D Preston
G Gordon





REGISTERED OFFICE: Unit 12, Bridlington Business Centre
Enterprise Way
Bessingby Industrial Estate
Bridlington
East Yorkshire
YO16 4SF





REGISTERED NUMBER: 12516291 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

PRESTONS CONSTRUCTION LIMITED (REGISTERED NUMBER: 12516291)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,631 7,509
Tangible assets 5 607,228 332,890
612,859 340,399

CURRENT ASSETS
Stocks 824,943 2,245
Debtors 6 454,170 309,363
Cash at bank and in hand 304,041 194,406
1,583,154 506,014
CREDITORS
Amounts falling due within one year 7 1,055,086 292,335
NET CURRENT ASSETS 528,068 213,679
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,140,927

554,078

CREDITORS
Amounts falling due after more than one
year

8

(386,728

)

(212,981

)

PROVISIONS FOR LIABILITIES (127,652 ) (79,812 )
NET ASSETS 626,547 261,285

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 626,447 261,185
SHAREHOLDERS' FUNDS 626,547 261,285

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

PRESTONS CONSTRUCTION LIMITED (REGISTERED NUMBER: 12516291)

BALANCE SHEET - continued
31 MARCH 2024


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 15 October 2024 and were signed on its behalf by:




J D Preston - Director



G Gordon - Director


PRESTONS CONSTRUCTION LIMITED (REGISTERED NUMBER: 12516291)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Prestons Construction 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 relates to civil engineering groundworks sales receivable, excluding discounts, rebates and value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Number plates are being amortised evenly over their estimated useful life of five years.

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 - 20% on reducing balance

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 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.

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.

PRESTONS CONSTRUCTION LIMITED (REGISTERED NUMBER: 12516291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

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.

The company has implemented automatic enrolment into a work place pension scheme for all employees.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 9,386
AMORTISATION
At 1 April 2023 1,877
Charge for year 1,878
At 31 March 2024 3,755
NET BOOK VALUE
At 31 March 2024 5,631
At 31 March 2023 7,509

PRESTONS CONSTRUCTION LIMITED (REGISTERED NUMBER: 12516291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 389,883
Additions 433,949
Disposals (75,839 )
At 31 March 2024 747,993
DEPRECIATION
At 1 April 2023 56,993
Charge for year 83,772
At 31 March 2024 140,765
NET BOOK VALUE
At 31 March 2024 607,228
At 31 March 2023 332,890

Fixed assets include assets under hire purchase of £582,373 (2023 - £292,547).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 119,853 119,537
Other debtors 334,317 189,826
454,170 309,363

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 16,656
Hire purchase contracts 130,170 60,049
Trade creditors 538,446 136,728
Taxation and social security 142,055 2,464
Other creditors 244,415 76,438
1,055,086 292,335

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 6,401
Hire purchase contracts 386,728 206,580
386,728 212,981

PRESTONS CONSTRUCTION LIMITED (REGISTERED NUMBER: 12516291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 516,898 266,629

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
75 Ordinary A £1 75 75
20 Ordinary B £1 20 20
5 Ordinary C £1 5 5
100 100