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Registration number: 08996117

PLS Civil Engineering Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 September 2024

 

PLS Civil Engineering Limited

(Registration number: 08996117)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,279,348

757,992

Current assets

 

Stocks

5

2,620,737

2,022,596

Debtors

6

898,799

734,111

 

3,519,536

2,756,707

Creditors: Amounts falling due within one year

7

(2,901,308)

(2,442,920)

Net current assets

 

618,228

313,787

Total assets less current liabilities

 

1,897,576

1,071,779

Creditors: Amounts falling due after more than one year

7

(1,865,903)

(1,553,545)

Net assets/(liabilities)

 

31,673

(481,766)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

31,573

(481,866)

Shareholders' funds/(deficit)

 

31,673

(481,766)

For the financial year ending 30 September 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 and 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 6 January 2025 and signed on its behalf by:
 


Mr D Csehi
Director

   
 

PLS Civil Engineering Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

Registration number: 08996117

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.

Contract revenue recognition

Turnover is only recognised on a construction contract when the outcome can be estimated reliably. Turnover and costs are recognised by reference to the stage of completion of contract activity at the year end date. This is normally measured by the directors' assessment of work performed to date.

Turnover is shown net of 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.

Tax

The tax expense for the period comprises deferred 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 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.

 

PLS Civil Engineering Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% per annum on written down value

Office equipment

15% per annum on written down value

Plant and machinery

15% per annum on written down value

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

 

PLS Civil Engineering Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Borrowings

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 11 (2023 - 19).

 

PLS Civil Engineering Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Office equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2023

33,930

416,411

679,290

1,129,631

Additions

432

124,300

660,990

785,722

Disposals

-

(20,619)

(181,345)

(201,964)

At 30 September 2024

34,362

520,092

1,158,935

1,713,389

Depreciation

At 1 October 2023

21,459

100,326

249,854

371,639

Charge for the year

1,885

83,714

84,046

169,645

Eliminated on disposal

-

(13,371)

(93,872)

(107,243)

At 30 September 2024

23,344

170,669

240,028

434,041

Carrying amount

At 30 September 2024

11,018

349,423

918,907

1,279,348

At 30 September 2023

12,471

316,085

429,436

757,992

 

PLS Civil Engineering Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

5

Stocks

2024
£

2023
£

Work in progress

2,620,737

2,022,596

6

Debtors

2024
£

2023
£

Trade debtors

259,982

104,007

Amounts owed by related parties

126,514

179,798

Prepayments

57,574

51,891

Other debtors

114,197

292,683

Social security and other taxes

340,532

105,732

 

898,799

734,111

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

623,393

365,759

Trade payables

 

2,076,542

1,806,273

Amounts due to related parties

155,763

118,871

Social security and other taxes

 

42,235

74,447

Other payables

 

3,375

77,570

 

2,901,308

2,442,920

 

PLS Civil Engineering Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

105,172

127,966

Bank overdrafts

229,082

43,838

Hire purchase contracts

289,139

193,955

623,393

365,759

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

83,333

188,462

Hire purchase contracts

682,570

265,083

Other borrowings

1,100,000

1,100,000

1,865,903

1,553,545

The HP and finance lease liabilities are secured upon the assets to which they relate.

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100