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Registered number: 08914058










PETER & DEAN WILLIAMS CONSTRUCTION LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
PETER & DEAN WILLIAMS CONSTRUCTION LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7

 
PETER & DEAN WILLIAMS CONSTRUCTION LIMITED
REGISTERED NUMBER: 08914058

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
272,135
267,459

Current assets
  

Debtors: amounts falling due within one year
 5 
172,901
314,042

Cash at bank and in hand
  
241,782
575,858

  
414,683
889,900

Creditors: amounts falling due within one year
 6 
(136,975)
(383,926)

Net current assets
  
 
 
277,708
 
 
505,974

Total assets less current liabilities
  
549,843
773,433

Creditors: amounts falling due after more than one year
 7 
(35,020)
(53,505)

Provisions for liabilities
  

Deferred tax
  
(67,160)
(65,991)

Net assets
  
447,663
653,937


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
447,660
653,934

  
447,663
653,937

Page 1

 
PETER & DEAN WILLIAMS CONSTRUCTION LIMITED
REGISTERED NUMBER: 08914058
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 October 2024.




P. Williams
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
PETER & DEAN WILLIAMS CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Peter & Dean Williams Construction Limited (the Company) is a private company limited by shares incorporated in England. The address of the registered office and principal place of business is 50 Garden Village, St Martins, Oswestry SY11 3AX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The accounts are prepared in Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised as the contract progresses and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is accrued to the extent that the fair value of the work performed at the year end exceeds amounts invoiced. Retentions are recognised as income and considered at each reporting date for recoverability. 

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20% on a straight line basis
Motor vehicles
-
25% on a straight line basis
Office equipment
-
25% on a straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
PETER & DEAN WILLIAMS CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
PETER & DEAN WILLIAMS CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
PETER & DEAN WILLIAMS CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost


At 1 April 2023
305,887
104,660
7,861
418,408


Additions
124,992
-
892
125,884


Disposals
(76,500)
-
-
(76,500)



At 31 March 2024

354,379
104,660
8,753
467,792



Depreciation


At 1 April 2023
95,529
48,160
7,260
150,949


Charge for the year on owned assets
43,835
26,165
412
70,412


Disposals
(25,704)
-
-
(25,704)



At 31 March 2024

113,660
74,325
7,672
195,657



Net book value



At 31 March 2024
240,719
30,335
1,081
272,135



At 31 March 2023
210,358
56,500
601
267,459

Page 6

 
PETER & DEAN WILLIAMS CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
119,561
255,676

Other debtors
53,340
58,366

172,901
314,042



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,536
5,536

Trade creditors
39,040
111,038

Corporation tax
48,986
209,023

Other taxation and social security
25,357
40,751

Obligations under hire purchase contracts - secured on related assets
13,173
13,173

Accruals and deferred income
4,883
4,405

136,975
383,926



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
29,470
34,782

Obligations under hire purchase contracts - secured on related assets
5,550
18,723

35,020
53,505


Page 7