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COMPANY REGISTRATION NUMBER: 2932330
P.C. Construction Ltd
Filleted Unaudited Financial Statements
31 August 2024
P.C. Construction Ltd
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
390,900
499,550
Current assets
Stocks
232,614
227,982
Debtors
6
1,303,377
2,313,888
Cash at bank and in hand
583,225
666,942
------------
------------
2,119,216
3,208,812
Creditors: amounts falling due within one year
7
347,020
766,573
------------
------------
Net current assets
1,772,196
2,442,239
------------
------------
Total assets less current liabilities
2,163,096
2,941,789
Provisions
Other provisions
242,624
341,076
------------
------------
Net assets
1,920,472
2,600,713
------------
------------
Capital and reserves
Called up share capital
2
2
Profit and loss account
1,920,470
2,600,711
------------
------------
Shareholders funds
1,920,472
2,600,713
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
P.C. Construction Ltd
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 22 April 2025 , and are signed on behalf of the board by:
Mr. P.A. Cross
Director
Company registration number: 2932330
P.C. Construction Ltd
Notes to the Financial Statements
Year ended 31st August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Bridges Road, Ellesmere Port, United Kingdom, CH65 4LB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Ecocrib plant, machinery and factory
-
10% straight line
Plant & machinery
-
10% straight line
Motor vehicles
-
20% straight line
Office equipment & furniture
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution pension scheme for directors and senior employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the Profit and Loss Account.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 24 (2023: 25 ).
5. Tangible assets
Ecocrib plant & machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1st September 2023
110,968
354,581
719,925
26,925
1,212,399
Additions
833
833
Disposals
( 72,028)
( 72,028)
---------
---------
---------
--------
------------
At 31st August 2024
110,968
354,581
647,897
27,758
1,141,204
---------
---------
---------
--------
------------
Depreciation
At 1st September 2023
88,732
156,681
443,697
23,739
712,849
Charge for the year
5,415
30,788
71,855
1,425
109,483
Disposals
( 72,028)
( 72,028)
---------
---------
---------
--------
------------
At 31st August 2024
94,147
187,469
443,524
25,164
750,304
---------
---------
---------
--------
------------
Carrying amount
At 31st August 2024
16,821
167,112
204,373
2,594
390,900
---------
---------
---------
--------
------------
At 31st August 2023
22,236
197,900
276,228
3,186
499,550
---------
---------
---------
--------
------------
6. Debtors
2024
2023
£
£
Trade debtors
687,215
1,403,082
Amounts owed by group undertakings and undertakings in which the company has a participating interest
320,826
307,618
Other debtors
295,336
603,188
------------
------------
1,303,377
2,313,888
------------
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
14,290
6,258
Trade creditors
164,953
331,576
Corporation tax
105,593
287,683
Social security and other taxes
27,528
30,020
Other creditors
1,895
3,260
Other creditors
32,761
107,776
---------
---------
347,020
766,573
---------
---------
8. Financial instruments
For financial instruments measured at fair value, the basis for determining fair value must be disclosed. When a valuation technique is used, the assumptions applied in determining fair value for each class of financial assets or financial liabilities must be disclosed. If a reliable measure of fair value is no longer available for ordinary or preference shares measured at fair value through profit or loss, this must also be disclosed.
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr. P.A. Cross
287,943
( 287,943)
---------
----
---------
----
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr. P.A. Cross
287,943
287,943
----
---------
----
---------
10. Related party transactions
Included in debtors are the following inter-company amounts due from companies for which Mr Phillip Cross and Mrs Alison Cross are Directors and Shareholders. -P&A Cross Investments Ltd £301,374 -Titanic Alarms Ltd £18,804
11. Controlling party
The ultimate controlling party is P.C. Construction Holdings Ltd (company number 11248626).