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REGISTERED NUMBER: SC218354 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 May 2024

for

PCF Construction Ltd.

PCF Construction Ltd. (Registered number: SC218354)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PCF Construction Ltd.

Company Information
for the Year Ended 31 May 2024







DIRECTORS: W Naylor
S Avery



SECRETARY: S Avery



REGISTERED OFFICE: Block 5, Unit 12
New Albion Industrial Estate
Glasgow
G13 4DJ



REGISTERED NUMBER: SC218354 (Scotland)



ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU



BANKERS: Bank of Scotland
836 Crow Road
Glasgow
G13 1ET

PCF Construction Ltd. (Registered number: SC218354)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 308,412 141,728

CURRENT ASSETS
Stocks 4,816 68,055
Debtors 5 969,595 700,371
Cash at bank 12,228 71,495
986,639 839,921
CREDITORS
Amounts falling due within one year 6 1,227,013 576,326
NET CURRENT (LIABILITIES)/ASSETS (240,374 ) 263,595
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,038

405,323

CREDITORS
Amounts falling due after more than one
year

7

(186,696

)

(90,635

)

PROVISIONS FOR LIABILITIES - (26,911 )
NET (LIABILITIES)/ASSETS (118,658 ) 287,777

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (118,758 ) 287,677
(118,658 ) 287,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PCF Construction Ltd. (Registered number: SC218354)

Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 February 2025 and were signed on its behalf by:





S Avery - Director


PCF Construction Ltd. (Registered number: SC218354)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

PCF Construction Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the basis that the company will continue to trade for the foreseeable future. At 31 May 2024, the company's liabilities exceeded its assets by £118,658. The company is dependent upon the continued support of its creditors, directors, and parent company. The directors are confident that this support will be maintained for the foreseeable future. Should this support be withdrawn and the company be unable to continue trading, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on cost and 10% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using effective interest method.

Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held with banks.


PCF Construction Ltd. (Registered number: SC218354)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 20 ) .

PCF Construction Ltd. (Registered number: SC218354)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 486,078
Additions 253,162
At 31 May 2024 739,240
DEPRECIATION
At 1 June 2023 344,350
Charge for year 86,478
At 31 May 2024 430,828
NET BOOK VALUE
At 31 May 2024 308,412
At 31 May 2023 141,728

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023 285,834
Additions 250,000
At 31 May 2024 535,834
DEPRECIATION
At 1 June 2023 171,203
Charge for year 72,411
At 31 May 2024 243,614
NET BOOK VALUE
At 31 May 2024 292,220
At 31 May 2023 114,631

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Amounts recoverable on
contracts 904,372 640,225
Other debtors 65,223 60,146
969,595 700,371

PCF Construction Ltd. (Registered number: SC218354)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 82,023 49,517
Trade creditors 436,258 237,921
Taxation and social security 162,877 104,746
Other creditors 535,855 174,142
1,227,013 576,326

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 10,000 20,000
Hire purchase contracts (see note 8) 176,696 70,635
186,696 90,635

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.24 31.5.23
£    £   
Net obligations repayable:
Within one year 82,023 49,517
Between one and five years 176,696 70,635
258,719 120,152

Non-cancellable operating leases
31.5.24 31.5.23
£    £   
Within one year 9,921 8,500
Between one and five years 43,292 -
53,213 8,500

9. ULTIMATE CONTROLLING PARTY

PCF Construction Limited is a wholly owned subsidiary of Lhanbryde Services Limited, a company registered in Scotland.