Company Registration No. 07308076 (England and Wales)
Probuild (East Mids) Limited
Unaudited accounts
for the year ended 31 July 2024
Probuild (East Mids) Limited
Unaudited accounts
Contents
Probuild (East Mids) Limited
Company Information
for the year ended 31 July 2024
Directors
Mr A Newton
Mr A Baird
Company Number
07308076 (England and Wales)
Registered Office
Unit 7 Chestnut Farm Corkhill Lane
Normanton
Southwell
Nottinghamshire
NG25 0PR
England
Accountants
A. R. & H. Accountancy Services Limited
1 Buckland Drive
Woodborough
Nottinghamshire
NG14 6EU
Probuild (East Mids) Limited
Statement of financial position
as at 31 July 2024
Tangible assets
27,900
22,942
Cash at bank and in hand
30,545
48,244
Creditors: amounts falling due within one year
(79,566)
(97,931)
Net current assets
3,699
27,218
Total assets less current liabilities
31,599
50,160
Creditors: amounts falling due after more than one year
(17,007)
(30,812)
Provisions for liabilities
Deferred tax
(5,301)
(4,359)
Called up share capital
100
100
Profit and loss account
9,191
14,889
Shareholders' funds
9,291
14,989
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by
Mr A Baird
Director
Company Registration No. 07308076
Probuild (East Mids) Limited
Notes to the Accounts
for the year ended 31 July 2024
Probuild (East Mids) Limited is a private company, limited by shares, registered in England and Wales, registration number 07308076. The registered office is Unit 7 Chestnut Farm Corkhill Lane, Normanton, Southwell, Nottinghamshire, NG25 0PR, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
15% on reducing balance
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Probuild (East Mids) Limited
Notes to the Accounts
for the year ended 31 July 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 August 2023
5,735
36,500
602
570
43,407
Additions
13,995
-
-
-
13,995
At 31 July 2024
19,730
36,500
602
570
57,402
At 1 August 2023
3,832
15,534
529
570
20,465
Charge for the year
3,784
5,242
11
-
9,037
At 31 July 2024
7,616
20,776
540
570
29,502
At 31 July 2024
12,114
15,724
62
-
27,900
At 31 July 2023
1,903
20,966
73
-
22,942
Amounts falling due within one year
Trade debtors
39,125
43,781
Accrued income and prepayments
1,703
1,734
Probuild (East Mids) Limited
Notes to the Accounts
for the year ended 31 July 2024
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,000
10,000
Obligations under finance leases and hire purchase contracts
3,360
5,037
Trade creditors
22,668
49,302
Taxes and social security
16,286
14,414
Loans from directors
4,985
4,099
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Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
7,840
11,200
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Average number of employees
During the year the average number of employees was 5 (2023: 5).