Registered number
07855798
P & T Contractors Ltd
Unaudited Filleted Accounts
30 November 2024
P & T Contractors Ltd
Registered number: 07855798
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,153 11,238
Current assets
Debtors 4 (4,705) (6,579)
Cash at bank and in hand 26,516 21,764
21,811 15,185
Creditors: amounts falling due within one year 5 (22,166) (14,025)
Net current (liabilities)/assets (355) 1,160
Total assets less current liabilities 6,798 12,398
Creditors: amounts falling due after more than one year 6 (6,387) (12,360)
Net assets 411 38
Capital and reserves
Called up share capital 2 2
Profit and loss account 409 36
Shareholders' funds 411 38
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs T Vincent
Director
Approved by the board on 8 April 2025
P & T Contractors Ltd
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & fittings 33% reducing balance method
Motor vehicles 25% reducing balance method
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2023 4,368 52,647 57,015
At 30 November 2024 4,368 52,647 57,015
Depreciation
At 1 December 2023 3,835 41,942 45,777
Charge for the year 176 3,909 4,085
At 30 November 2024 4,011 45,851 49,862
Net book value
At 30 November 2024 357 6,796 7,153
At 30 November 2023 533 10,705 11,238
4 Debtors 2024 2023
£ £
Trade debtors (4,705) (6,579)
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,000 6,000
Trade creditors 97 97
Taxation and social security costs 22,042 25,520
Other creditors (5,973) (17,592)
22,166 14,025
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,387 12,360
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mrs T Vincent
[Loan 1] 9,027 18,477 (24,287) 3,217
Mr P Vincent
[Loan 1] 9,027 18,477 (24,287) 3,217
18,054 36,954 (48,574) 6,434
8 Other information
P & T Contractors Ltd is a private company limited by shares and incorporated in England. Its registered office is:
300 St Mary's Road
Garston
Liverpool
Merseyside
L19 0NQ
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