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Registered number: 07974658
Pioneer Wall Cladding & Building Insulation Ltd.
Unaudited Financial Statements
For the Period 1 September 2022 to 29 February 2024
BWBCA Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07974658
29 February 2024 31 August 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 85,344 49,042
85,344 49,042
CURRENT ASSETS
Debtors 5 509,966 322,868
Cash at bank and in hand 14,719 66,073
524,685 388,941
Creditors: Amounts Falling Due Within One Year 6 (137,920 ) (136,141 )
NET CURRENT ASSETS (LIABILITIES) 386,765 252,800
TOTAL ASSETS LESS CURRENT LIABILITIES 472,109 301,842
Creditors: Amounts Falling Due After More Than One Year 7 (30,528 ) (38,534 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (371,972 ) (167,734 )
Deferred Taxation (7,381 ) (8,963 )
NET ASSETS 62,228 86,611
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 62,128 86,511
SHAREHOLDERS' FUNDS 62,228 86,611
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Page 2
For the period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
A Tartza
Director
29 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Pioneer Wall Cladding & Building Insulation Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 07974658 . The registered office is C/O Bwbca Limited Office 44, A30 Business Centre, Okehampton, Devon, EX20 1BG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 25% on cost
Computer Equipment 33% on cost
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.6. Government Grant
Government grants are accounted for based on the accrual model. Revenue grants are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.
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2.7. Guarantee provision
Provision is made for the estimated cost of dealing with guarantee claims based on past experience.
3. Average Number of Employees
Average number of employees during the period was: 14 (2022: 16)
14 16
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2022 9,072 81,811 2,806 17,435 111,124
Additions 3,870 156,215 454 1,978 162,517
Disposals - (75,000 ) - - (75,000 )
As at 29 February 2024 12,942 163,026 3,260 19,413 198,641
Depreciation
As at 1 September 2022 6,565 45,675 2,012 7,830 62,082
Provided during the period 2,973 39,471 897 7,874 51,215
As at 29 February 2024 9,538 85,146 2,909 15,704 113,297
Net Book Value
As at 29 February 2024 3,404 77,880 351 3,709 85,344
As at 1 September 2022 2,507 36,136 794 9,605 49,042
5. Debtors
29 February 2024 31 August 2022
£ £
Due within one year
Trade debtors 46,516 76,897
Other debtors 258,200 40,971
304,716 117,868
Due after more than one year
Other debtors 205,250 205,000
509,966 322,868
6. Creditors: Amounts Falling Due Within One Year
29 February 2024 31 August 2022
£ £
Trade creditors 42,745 57,475
Bank loans and overdrafts 5,372 5,177
Other creditors 67,796 53,856
Taxation and social security 22,007 19,633
137,920 136,141
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7. Creditors: Amounts Falling Due After More Than One Year
29 February 2024 31 August 2022
£ £
Bank loans 30,528 38,534
8. Share Capital
29 February 2024 31 August 2022
Allotted, called up and fully paid £ £
1 Ordinary A shares of £ 45.00 each 45 45
1 Ordinary B shares of £ 45.00 each 45 45
1 Ordinary C shares of £ 10.00 each 10 10
100 100
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