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PACK MASONRY LTD

Registered Number
09136385
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

PACK MASONRY LTD
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

BECKER, Maritza
PACK, James Thomas

Registered Address

Walker House
Market Place
Somerton
TA11 7LZ

Registered Number

09136385 (England and Wales)
PACK MASONRY LTD
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3-3,750
Tangible assets4299,738314,637
299,738318,387
Current assets
Stocks92,971-
Debtors150,533199,880
Current asset investments5-153,920
Cash at bank and on hand84,476627,809
327,980981,609
Creditors amounts falling due within one year6(151,228)(323,136)
Net current assets (liabilities)176,752658,473
Total assets less current liabilities476,490976,860
Provisions for liabilities7(70,438)(67,098)
Net assets406,052909,762
Capital and reserves
Called up share capital100100
Profit and loss account405,952909,662
Shareholders' funds406,052909,762
The financial statements were approved and authorised for issue by the Board of Directors on 26 February 2025, and are signed on its behalf by:
BECKER, Maritza
Director
Registered Company No. 09136385
PACK MASONRY LTD
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery20
Vehicles20
Office Equipment20
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year1524
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 January 2437,50037,500
At 31 December 2437,50037,500
Amortisation and impairment
At 01 January 2433,75033,750
Charge for year3,7503,750
At 31 December 2437,50037,500
Net book value
At 31 December 24--
At 31 December 233,7503,750
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 January 24499,93888,2924,904593,134
Additions23,35067,475-90,825
Disposals(18,100)(38,691)-(56,791)
At 31 December 24505,188117,0764,904627,168
Depreciation and impairment
At 01 January 24240,19535,4462,856278,497
Charge for year55,43219,09240974,933
On disposals(12,168)(13,832)-(26,000)
At 31 December 24283,45940,7063,265327,430
Net book value
At 31 December 24221,72976,3701,639299,738
At 31 December 23259,74352,8462,048314,637
5.Current asset investments
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables29,74259,607
Bank borrowings and overdrafts-180
Taxation and social security16,335111,649
Finance lease and HP contracts79,676144,984
Other creditors17,7815,621
Accrued liabilities and deferred income7,6941,095
Total151,228323,136
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)70,43867,098
Total70,43867,098