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Registration number: 09528762

P S Design & Build Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

P S Design & Build Limited

Contents

Company Information

1

Profit and Loss Account

2

Balance Sheet

3

Notes to the Financial Statements

4 to 6

 

P S Design & Build Limited

Company Information

Directors

Mrs Susan Pearson

Mr Philip Down

Registered office

The Old Spot Piggy Lane Bilbrough
York
YO23 3AD

 

P S Design & Build Limited

Profit and Loss Account for the Year Ended 30 April 2024

Note

2024
£

2023
£

Turnover

 

-

-

Gross profit/(loss)

 

-

-

Administrative expenses

 

(861)

(820)

Operating loss

 

(861)

(820)

Interest payable and similar expenses

 

(9,940)

-

Loss before tax

(10,801)

(820)

Loss for the financial year

 

(10,801)

(820)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

P S Design & Build Limited

(Registration number: 09528762)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

458,091

468,032

Cash at bank and in hand

 

1,013

1,873

 

459,104

469,905

Creditors: Amounts falling due within one year

5

(475,443)

(475,443)

Net liabilities

 

(16,339)

(5,538)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(16,439)

(5,638)

Shareholders' deficit

 

(16,339)

(5,538)

For the financial year ending 30 April 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 27 September 2024 and signed on its behalf by:
 

.........................................
Mrs Susan Pearson
Director

 

P S Design & Build Limited

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

1

General information

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

The address of its registered office is:
The Old Spot Piggy Lane Bilbrough
York
YO23 3AD

These financial statements were authorised for issue by the Board on 27 September 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.

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 and after eliminating sales within the company.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss,

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

P S Design & Build Limited

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

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Debtors

Current

2024
£

2023
£

Other debtors

458,091

468,032

 

458,091

468,032

 

P S Design & Build Limited

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

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

7

474,543

474,543

Other creditors

 

900

900

 

475,443

475,443

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

474,543

474,543

8

Related party transactions

Summary of transactions with related parties

At the balance sheet date the company owed its directors £474,543 (2023 - £474,543), and the company was owed £458,091 (2023 - £468,031) by a connected company. The loans are interest free, unsecured and repayable on demand.