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Registration number: 12158495

PBS Potteries Bricklaying Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

PBS Potteries Bricklaying Services Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

PBS Potteries Bricklaying Services Ltd

(Registration number: 12158495)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

57,394

38,219

Current assets

 

Debtors

6

57,822

119,432

Cash at bank and in hand

 

33,316

47,054

 

91,138

166,486

Creditors: Amounts falling due within one year

7

(50,562)

(127,810)

Net current assets

 

40,576

38,676

Total assets less current liabilities

 

97,970

76,895

Creditors: Amounts falling due after more than one year

7

(28,875)

(33,375)

Net assets

 

69,095

43,520

Capital and reserves

 

Called up share capital

2

2

Capital redemption reserve

1

1

Retained earnings

69,092

43,517

Shareholders' funds

 

69,095

43,520

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 October 2024 and signed on its behalf by:
 

 

PBS Potteries Bricklaying Services Ltd

(Registration number: 12158495)
Balance Sheet as at 31 August 2024

.........................................
Mr Dale Wherton
Director

 

PBS Potteries Bricklaying Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 10
Leek New Road
Stoke-on-Trent
Staffordshire
ST6 2LD

These financial statements were authorised for issue by the Board on 9 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

PBS Potteries Bricklaying Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

15% Reducing Balance

Motor Vehicles

20% Reducing Balance

Office Equipment

15% Reducing Balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
 

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

PBS Potteries Bricklaying Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Financial instruments

Recognition and measurement
A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis or similar credit risk characteristics.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

PBS Potteries Bricklaying Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

-

10,287

47,430

57,717

Additions

18,089

19,371

8,125

45,585

Disposals

-

-

(28,500)

(28,500)

At 31 August 2024

18,089

29,658

27,055

74,802

Depreciation

At 1 September 2023

-

3,167

16,331

19,498

Charge for the year

-

3,973

4,197

8,170

Eliminated on disposal

-

-

(10,260)

(10,260)

At 31 August 2024

-

7,140

10,268

17,408

Carrying amount

At 31 August 2024

18,089

22,518

16,787

57,394

At 31 August 2023

-

7,120

31,099

38,219

Included within the net book value of land and buildings above is £18,089 (2023 - £Nil) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

6

Debtors

Current

2024
£

2023
£

Trade debtors

36,220

68,860

Prepayments

2,381

2,581

Other debtors

19,221

47,991

 

57,822

119,432

 

PBS Potteries Bricklaying Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

4,500

4,500

Trade creditors

 

-

11,497

Taxation and social security

 

33,618

32,044

Accruals and deferred income

 

1,621

1,303

Other creditors

 

10,823

78,466

 

50,562

127,810

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

28,875

33,375

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

28,875

33,375

2024
£

2023
£

Current loans and borrowings

Bank borrowings

4,500

4,500

9

Related party transactions

All transactions undertaken with related parties were under normal market conditions and/or not material.

 

PBS Potteries Bricklaying Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

10

Non adjusting events after the financial period

There are no material event to report up to the date of approval of the financial statements by the board.