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REGISTERED NUMBER: 06917093 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Plaza Builders Limited

Plaza Builders Limited (Registered number: 06917093)






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


Plaza Builders Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: G Costello
Mrs J Costello
G J Freer





REGISTERED OFFICE: 4 Yorke Street
Hucknall
Nottinghamshire
NG15 7BT





REGISTERED NUMBER: 06917093 (England and Wales)





ACCOUNTANTS: Smith Cookson
Chartered Accountants
4 Yorke Street
Hucknall
Nottinghamshire
NG15 7BT

Plaza Builders Limited (Registered number: 06917093)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 499 499
Tangible assets 5 470,172 436,874
470,671 437,373

CURRENT ASSETS
Debtors 6 1,864,062 2,954,252
Cash at bank 720,566 807,741
2,584,628 3,761,993
CREDITORS
Amounts falling due within one year 7 1,663,361 1,514,166
NET CURRENT ASSETS 921,267 2,247,827
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,391,938

2,685,200

CREDITORS
Amounts falling due after more than one year 8 (230,365 ) (411,800 )

PROVISIONS FOR LIABILITIES (117,543 ) (109,219 )
NET ASSETS 1,044,030 2,164,181

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 1,043,930 2,164,081
SHAREHOLDERS' FUNDS 1,044,030 2,164,181

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.

Plaza Builders Limited (Registered number: 06917093)

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:





G Costello - Director


Plaza Builders Limited (Registered number: 06917093)

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

1. STATUTORY INFORMATION

Plaza Builders Limited is a private company, limited by shares , registered in England and Wales. 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.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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

Plaza Builders Limited (Registered number: 06917093)

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

2. ACCOUNTING POLICIES - continued

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 8 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 499
NET BOOK VALUE
At 31 May 2024 499
At 31 May 2023 499

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 297,040 34,146 402,347 31,587 765,120
Additions 187,757 - - 554 188,311
At 31 May 2024 484,797 34,146 402,347 32,141 953,431
DEPRECIATION
At 1 June 2023 83,713 25,654 198,003 20,876 328,246
Charge for year 99,053 2,128 51,092 2,740 155,013
At 31 May 2024 182,766 27,782 249,095 23,616 483,259
NET BOOK VALUE
At 31 May 2024 302,031 6,364 153,252 8,525 470,172
At 31 May 2023 213,327 8,492 204,344 10,711 436,874

Plaza Builders Limited (Registered number: 06917093)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023 199,900 285,792 485,692
Additions 169,950 - 169,950
At 31 May 2024 369,850 285,792 655,642
DEPRECIATION
At 1 June 2023 24,988 90,855 115,843
Charge for year 86,216 - 86,216
At 31 May 2024 111,204 90,855 202,059
NET BOOK VALUE
At 31 May 2024 258,646 194,937 453,583
At 31 May 2023 174,912 194,937 369,849

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 106,743 468,486
Retentions outstanding 218,215 168,801
Amounts owed by group undertakings 661,635 1,524,635
Amounts recoverable on contract 759,000 726,213
Other debtors - 2,000
VAT 84,937 53,842
Prepayments 33,532 10,275
1,864,062 2,954,252

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 138,176 113,176
Hire purchase contracts (see note 9) 135,671 84,776
Trade creditors 1,131,311 959,836
Amounts owed to group undertakings 116,186 98,686
Corporation tax 37,259 151,602
Social security and other taxes 27,493 31,024
Other creditors 611 726
Directors' current accounts 55,698 41,526
Accruals and deferred income 20,956 32,814
1,663,361 1,514,166

Plaza Builders Limited (Registered number: 06917093)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans - 1-2 years 59,741 113,176
Bank loans to be repaid
between 2 & 5 years by
instalments - 96,565
Hire purchase contracts (see note 9) 170,624 202,059
230,365 411,800

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.24 31.5.23
£    £   
Net obligations repayable:
Within one year 135,671 84,776
Between one and five years 170,624 202,059
306,295 286,835

Non-cancellable operating leases
31.5.24 31.5.23
£    £   
Within one year 7,485 -

10. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Hire purchase contracts 306,295 286,835

Liabilities for hire purchase obligations are secured against the motor vehicle to which the agreement relates.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

Plaza Builders Limited (Registered number: 06917093)

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

12. RELATED PARTY DISCLOSURES

The company made payments to Plaza Civils Limited, a company in the same group, of £266,667 (2023:£400,000). The payments were for hire of plant and equipment. At the balance sheet date £20,000 was owing to Plaza Civils Limited. The debt is included within Trade Creditors.
The company made payments to Plaza Group Limited, its parent company, of £250,000.00. (2023:£250,000) The payments were for management services.. At the balance sheet date £25,000 was owing to Plaza Builders Limited. The debt is included within Trade Creditors.
The company made payments to Plaza Homes Limited, a company in the same group, of £60,000 (2023:£63,000) The payments were for management services. No amounts were owing at the balance sheet date.

The controlling party is Plaza Group Limited.

The ultimate controlling party is Mr and Mrs G Costello.