Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31142023-04-01falseThe principal activity of the company continued to be that of pipe fabrication and site installation.9truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07999060 2023-04-01 2024-03-31 07999060 2022-04-01 2023-03-31 07999060 2024-03-31 07999060 2023-03-31 07999060 2022-04-01 07999060 c:Director1 2023-04-01 2024-03-31 07999060 d:Buildings 2023-04-01 2024-03-31 07999060 d:Buildings 2024-03-31 07999060 d:Buildings 2023-03-31 07999060 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07999060 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 07999060 d:PlantMachinery 2023-04-01 2024-03-31 07999060 d:PlantMachinery 2024-03-31 07999060 d:PlantMachinery 2023-03-31 07999060 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07999060 d:MotorVehicles 2023-04-01 2024-03-31 07999060 d:MotorVehicles 2024-03-31 07999060 d:MotorVehicles 2023-03-31 07999060 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07999060 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07999060 d:FreeholdInvestmentProperty 2024-03-31 07999060 d:FreeholdInvestmentProperty 2023-03-31 07999060 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 07999060 d:CurrentFinancialInstruments 2024-03-31 07999060 d:CurrentFinancialInstruments 2023-03-31 07999060 d:Non-currentFinancialInstruments 2024-03-31 07999060 d:Non-currentFinancialInstruments 2023-03-31 07999060 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07999060 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07999060 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07999060 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07999060 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 07999060 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07999060 d:ShareCapital 2024-03-31 07999060 d:ShareCapital 2023-03-31 07999060 d:InvestmentPropertiesRevaluationReserve 2023-04-01 2024-03-31 07999060 d:InvestmentPropertiesRevaluationReserve 2024-03-31 07999060 d:InvestmentPropertiesRevaluationReserve 2023-03-31 07999060 d:RetainedEarningsAccumulatedLosses 2024-03-31 07999060 d:RetainedEarningsAccumulatedLosses 2023-03-31 07999060 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 07999060 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07999060 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 07999060 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 07999060 d:RetirementBenefitObligationsDeferredTax 2024-03-31 07999060 d:RetirementBenefitObligationsDeferredTax 2023-03-31 07999060 c:OrdinaryShareClass1 2023-04-01 2024-03-31 07999060 c:OrdinaryShareClass1 2024-03-31 07999060 c:OrdinaryShareClass1 2023-03-31 07999060 c:FRS102 2023-04-01 2024-03-31 07999060 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07999060 c:FullAccounts 2023-04-01 2024-03-31 07999060 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07999060 2 2023-04-01 2024-03-31 07999060 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 07999060














PRICE BUILDING SOLUTIONS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
PRICE BUILDING SOLUTIONS LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
PRICE BUILDING SOLUTIONS LIMITED
REGISTERED NUMBER:07999060

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
120,522
136,576

Investment property
 5 
1,350,000
1,140,000

  
1,470,522
1,276,576

Current assets
  

Stocks
  
222,640
222,640

Debtors: amounts falling due within one year
 7 
2,091,358
1,299,612

Cash at bank and in hand
 8 
9,321
34,642

  
2,323,319
1,556,894

Creditors: amounts falling due within one year
 9 
(1,101,352)
(542,485)

Net current assets
  
 
 
1,221,967
 
 
1,014,409

Total assets less current liabilities
  
2,692,489
2,290,985

Creditors: amounts falling due after more than one year
 10 
(69,746)
(88,312)

Provisions for liabilities
  

Deferred tax
 11 
(261,200)
(156,494)

  
 
 
(261,200)
 
 
(156,494)

Net assets
  
2,361,543
2,046,179


Capital and reserves
  

Called up share capital 
 12 
10
2

Revaluation reserve
 13 
723,083
743,873

Profit and loss account
 13 
1,638,450
1,302,304

  
2,361,543
2,046,179


1

 
PRICE BUILDING SOLUTIONS LIMITED
REGISTERED NUMBER:07999060
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 February 2025.




R I Davies
Director

The notes on pages 3 to 9 form part of these financial statements.

2

 
PRICE BUILDING SOLUTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Price Building Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 07999060. The registered office is Unit 4 Mariner Business Centre, 1 Kings Way, Croydon, Surrey, United Kingdom, CR0 4GE.
The principal activity of the company continued to be that of pipe fabrication and site installation.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

3

 
PRICE BUILDING SOLUTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:.

Depreciation is provided on the following basis:

Leasehold improvements
-
Over 15 years, Straight line method
Plant and machinery
-
25% Reducing balance method
Motor vehicles
-
25% Reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

4

 
PRICE BUILDING SOLUTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

 Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.10

 Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.11

 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.12

 Creditors

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

 
2.13

 Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

 Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 14).

5

 
PRICE BUILDING SOLUTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 April 2023
53,755
255,930
58,677
368,362


Additions
-
-
15,000
15,000


Disposals
-
-
(7,500)
(7,500)



At 31 March 2024

53,755
255,930
66,177
375,862



Depreciation


At 1 April 2023
17,920
174,104
39,762
231,786


Charge for the year
3,583
20,456
5,836
29,875


Disposals
-
-
(6,321)
(6,321)



At 31 March 2024

21,503
194,560
39,277
255,340



Net book value



At 31 March 2024
32,252
61,370
26,900
120,522



At 31 March 2023
35,835
81,826
18,915
136,576


5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,140,000


Surplus on revaluation
210,000



At 31 March 2024
1,350,000

The 2024 valuations were made by directors, on an open market value for existing use basis.





6.


Stocks

2024
2023
£
£

Work in progress
222,640
222,640


6

 
PRICE BUILDING SOLUTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£


Trade debtors
2,083,364
1,293,117

Other debtors
6,503
6,495

Prepayments and accrued income
1,491
-

2,091,358
1,299,612



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
9,321
34,642



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
18,679
18,679

Trade creditors
972,846
414,501

Corporation tax
78,507
45,891

Other taxation and social security
21,954
54,664

Other creditors
615
-

Accruals
8,751
8,750

1,101,352
542,485


7

 
PRICE BUILDING SOLUTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
69,746
88,312



Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
18,679
18,679

Amounts falling due 1-2 years

Bank loans
69,746
88,312



88,425
106,991



11.


Deferred taxation




2024
2023


£

£






At beginning of year
(156,494)
(156,847)


Charged to profit or loss
(104,706)
353



At end of year
(261,200)
(156,494)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(20,326)
(146,257)

Short term timing differences
153
-

Capital gains
(241,027)
(10,237)

(261,200)
(156,494)

8

 
PRICE BUILDING SOLUTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10 (2023 - 2) Ordinary shares of £1.00 each
10
2


On 22 January 2024, 8 Ordinary shares of £1 each were issued at an aggregate nominal value of £8. These were fully paid to the holders at the rate of 4 new Ordinary shares for every existing 1 share(s) held by them.


13.


Reserves

Revaluation reserve

The revaluation reserve represents the fair value of the company's investment properties over the original costs as adjusted for deferred taxation provisions in relation to the same.


14.


Contingent liabilities

At 31 March 2024, the contingent liability, for which the company is jointly and severally liable, in respect of the intercompany cross guarantee to £1,004,741.
There are cross guarantees between the following companies, of which R M Price is a director.
Price Building Services Limited, PBS SPV 1 Limited and  Price Group Limited.

 
9