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REGISTERED NUMBER: 09928360 (England and Wales)













PRITCHARD CONSTRUCTION & GROUNDWORKS
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






PRITCHARD CONSTRUCTION & GROUNDWORKS
LIMITED (REGISTERED NUMBER: 09928360)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PRITCHARD CONSTRUCTION & GROUNDWORKS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr. G J Pritchard





REGISTERED OFFICE: Gwaelod Y Brithdir Farm
New Tredegar
Gwent
NP24 6JZ





REGISTERED NUMBER: 09928360 (England and Wales)





ACCOUNTANTS: Carston ETL
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

PRITCHARD CONSTRUCTION & GROUNDWORKS
LIMITED (REGISTERED NUMBER: 09928360)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 1,100 2,200
Tangible assets 5 345,936 217,296
347,036 219,496

CURRENT ASSETS
Stocks 332,177 309,609
Debtors 6 123,541 319,096
Cash at bank and in hand 507,503 184,431
963,221 813,136
CREDITORS
Amounts falling due within one year 7 380,094 292,374
NET CURRENT ASSETS 583,127 520,762
TOTAL ASSETS LESS CURRENT LIABILITIES 930,163 740,258

CREDITORS
Amounts falling due after more than one year 8 (176,978 ) (87,589 )

PROVISIONS FOR LIABILITIES 10 (86,319 ) -
NET ASSETS 666,866 652,669

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 666,766 652,569
SHAREHOLDERS' FUNDS 666,866 652,669

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 director acknowledges his 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.

PRITCHARD CONSTRUCTION & GROUNDWORKS
LIMITED (REGISTERED NUMBER: 09928360)

STATEMENT OF FINANCIAL POSITION - 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 director and authorised for issue on 29 October 2024 and were signed by:





Mr. G J Pritchard - Director


PRITCHARD CONSTRUCTION & GROUNDWORKS
LIMITED (REGISTERED NUMBER: 09928360)

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


1. STATUTORY INFORMATION

Pritchard Construction & 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

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
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PRITCHARD CONSTRUCTION & GROUNDWORKS
LIMITED (REGISTERED NUMBER: 09928360)

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 April 2023
and 31 March 2024 11,000
AMORTISATION
At 1 April 2023 8,800
Amortisation for year 1,100
At 31 March 2024 9,900
NET BOOK VALUE
At 31 March 2024 1,100
At 31 March 2023 2,200

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
COST
At 1 April 2023 353,134 60,258 2,708 416,100
Additions 141,600 56,438 - 198,038
At 31 March 2024 494,734 116,696 2,708 614,138
DEPRECIATION
At 1 April 2023 151,643 46,484 677 198,804
Charge for year 50,476 18,414 508 69,398
At 31 March 2024 202,119 64,898 1,185 268,202
NET BOOK VALUE
At 31 March 2024 292,615 51,798 1,523 345,936
At 31 March 2023 201,491 13,774 2,031 217,296

PRITCHARD CONSTRUCTION & GROUNDWORKS
LIMITED (REGISTERED NUMBER: 09928360)

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


5. 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 April 2023 228,036 24,583 252,619
Additions 127,000 42,188 169,188
At 31 March 2024 355,036 66,771 421,807
DEPRECIATION
At 1 April 2023 97,037 18,750 115,787
Charge for year 38,700 12,005 50,705
At 31 March 2024 135,737 30,755 166,492
NET BOOK VALUE
At 31 March 2024 219,299 36,016 255,315
At 31 March 2023 130,999 5,833 136,832

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 39,344 190,708
Other debtors 84,197 128,388
123,541 319,096

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts 80,790 27,470
Trade creditors 155,825 173,287
Taxation and social security 18,566 52,244
Other creditors 124,913 39,373
380,094 292,374

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 22,421 31,547
Hire purchase contracts 154,557 56,042
176,978 87,589

PRITCHARD CONSTRUCTION & GROUNDWORKS
LIMITED (REGISTERED NUMBER: 09928360)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 235,347 83,512

The loans in respect of hire purchase agreements are secured against the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 86,319 -

Deferred tax
£
Provided during year 86,319
Balance at 31 March 2024 86,319

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100