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REGISTERED NUMBER: 06083760 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Precast Concrete Solutions Limited

Precast Concrete Solutions Limited (Registered number: 06083760)






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


Precast Concrete Solutions Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: M C Quinn
Mrs A D Quinn





SECRETARY: Mrs A D Quinn





REGISTERED OFFICE: 3 Offley Road
Sandbach
Cheshire
CW11 1GY





REGISTERED NUMBER: 06083760 (England and Wales)

Precast Concrete Solutions Limited (Registered number: 06083760)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 51,293 41,641
51,293 41,641

CURRENT ASSETS
Debtors 7 671,404 805,976
Cash at bank and in hand 80,888 230,193
752,292 1,036,169
CREDITORS
Amounts falling due within one year 8 477,109 457,587
NET CURRENT ASSETS 275,183 578,582
TOTAL ASSETS LESS CURRENT
LIABILITIES

326,476

620,223

CREDITORS
Amounts falling due after more than one year 9 (95,556 ) (146,083 )

PROVISIONS FOR LIABILITIES 12 (9,746 ) (10,411 )
NET ASSETS 221,174 463,729

CAPITAL AND RESERVES
Called up share capital 75 75
Capital redemption reserve 25 25
Retained earnings 221,074 463,629
SHAREHOLDERS' FUNDS 221,174 463,729

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.

Precast Concrete Solutions Limited (Registered number: 06083760)

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by:





M C Quinn - Director


Precast Concrete Solutions Limited (Registered number: 06083760)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Precast Concrete Solutions Limited ('The Company') is primarily engaged in the supply and installation of architectural masonry.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the principle place of business and the registered office is 3 Offley Road, Sandbach, Cheshire, CW11 1GY. The registered number can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Summary of significant accounting policies
The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

On this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.

Revenue recognition
Revenue (described as turnover) is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Goodwill
Goodwill has been written off over it's estimated useful life of ten years through the profit and loss account.

Precast Concrete Solutions Limited (Registered number: 06083760)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates so as to write off their cost less residual amounts over their estimated useful economic lives. Assets are also reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the assets carrying amount exceeds its recoverable amount.

Plant & machinery- 25% on reducing balance
Fixtures & fittings- 25% on reducing balance
Motor vehicles- 25% on reducing balance
Computer equipment- 33% on cost

The residual values and useful lives of assets are reviewed and adjusted if appropriate at each statement of financial position date.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the discounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

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

Precast Concrete Solutions Limited (Registered number: 06083760)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

3. 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.

Impairment of assets
Assets not measured at fair value are reviewed for any indications that the asset maybe impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 15,500
AMORTISATION
At 1 April 2023
and 31 March 2024 15,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Precast Concrete Solutions Limited (Registered number: 06083760)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 11,843 1,982 70,944 25,202 109,971
Additions 960 388 37,888 5,636 44,872
Disposals - - (38,750 ) - (38,750 )
At 31 March 2024 12,803 2,370 70,082 30,838 116,093
DEPRECIATION
At 1 April 2023 7,484 1,031 36,487 23,328 68,330
Charge for year 1,330 335 13,999 3,208 18,872
Eliminated on disposal - - (22,402 ) - (22,402 )
At 31 March 2024 8,814 1,366 28,084 26,536 64,800
NET BOOK VALUE
At 31 March 2024 3,989 1,004 41,998 4,302 51,293
At 31 March 2023 4,359 951 34,457 1,874 41,641

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 70,944
Additions 37,888
Disposals (38,750 )
At 31 March 2024 70,082
DEPRECIATION
At 1 April 2023 36,487
Charge for year 13,999
Eliminated on disposal (22,402 )
At 31 March 2024 28,084
NET BOOK VALUE
At 31 March 2024 41,998
At 31 March 2023 34,457

Precast Concrete Solutions Limited (Registered number: 06083760)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 333,429 447,065
Other debtors 337,975 358,911
671,404 805,976

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 54,756 50,110
Hire purchase contracts (see note 10) 11,459 11,526
Trade creditors 170,654 135,728
Taxation and social security 28,671 53,744
Other creditors 211,569 206,479
477,109 457,587

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 54,642 109,398
Hire purchase contracts (see note 10) 40,914 36,685
95,556 146,083

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 11,459 11,526
Between one and five years 40,914 36,685
52,373 48,211

Non-cancellable operating leases
2024 2023
£    £   
Within one year 11,000 5,500
Between one and five years 16,500 27,500
27,500 33,000

Precast Concrete Solutions Limited (Registered number: 06083760)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 109,398 159,508
Hire purchase contracts 52,373 48,211
161,771 207,719

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 9,746 10,411

Deferred
tax
£   
Balance at 1 April 2023 10,411
Provided during year (665 )
Balance at 31 March 2024 9,746

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
M C Quinn
Balance outstanding at start of year 6,314 4,750
Amounts advanced 371 1,564
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,685 6,314

Mrs A D Quinn
Balance outstanding at start of year 4,845 4,750
Amounts advanced 371 95
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,216 4,845