Registered number
10349055
Prosser Carpentry & Building Ltd
Unaudited Filleted Accounts
31 August 2024
Prosser Carpentry & Building Ltd
Registered number: 10349055
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 609,135 587,280
Current assets
Stocks 34,995 37,321
Debtors 4 163,237 112,971
Cash at bank and in hand 191,120 196,262
389,352 346,554
Creditors: amounts falling due within one year 5 (488,134) (446,786)
Net current liabilities (98,782) (100,232)
Total assets less current liabilities 510,353 487,048
Creditors: amounts falling due after more than one year 6 (102,695) (131,267)
Provisions for liabilities (50,026) (41,842)
Net assets 357,632 313,939
Capital and reserves
Called up share capital 2 2
Profit and loss account 357,630 313,937
Shareholders' funds 357,632 313,939
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.
A Prosser
Director
Approved by the board on 18 April 2025
Prosser Carpentry & Building Ltd
Notes to the Accounts
for the year ended 31 August 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).
Going concern
The directors have a reasonable expectation that the company has adequate resources, liquidity and bank facilities to continue in operational existence for the foreseeable future. They are thus continuing to prepare these financial statements on the basis of the company being a going concern.
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:
Freehold buildings over 50 years
Plant and machinery over 4 years
Motor vehicles 25% reducing balance
Stocks
Stocks are raw materials held to be used on future projects measured at cost less any impairments and work in progress reflecting the value of work completed but remains unbilled on all contracts at the balance sheet date.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 11 11
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 522,117 50,428 89,143 661,688
Additions 1,423 - 74,412 75,835
Disposals - - (36,607) (36,607)
At 31 August 2024 523,540 50,428 126,948 700,916
Depreciation
At 1 September 2023 15,664 20,262 38,482 74,408
Charge for the year 10,470 11,415 23,300 45,185
On disposals - - (27,812) (27,812)
At 31 August 2024 26,134 31,677 33,970 91,781
Net book value
At 31 August 2024 497,406 18,751 92,978 609,135
At 31 August 2023 506,453 30,166 50,661 587,280
4 Debtors 2024 2023
£ £
Trade debtors 116,996 73,621
Other debtors 46,241 39,350
163,237 112,971
Included in other debtors are prepayments and accrued income of £2,909 (2023: £4,813).
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank and other loans 218,955 213,725
Obligations under finance lease and hire purchase contracts 8,475 5,366
Trade creditors 98,645 75,799
Taxation and social security costs 140,641 128,155
Other creditors 21,418 23,741
488,134 446,786
Included in other creditors are accruals of £16,054 (2023: £19,838)
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank and other loans 23,395 92,350
Obligations under finance lease and hire purchase contracts 79,300 38,917
102,695 131,267
7 Secured creditors
The facilities granted to the company by its bankers, National Westminster Bank PLC, are secured by a fixed charge over the company’s land, property, and plant and machinery, and by a floating charge over all other assets, property, and rights of the company, present and future, that are not subject to a fixed charge.

Included within other loans within one year is a loan of £150,000 (2023: £150,000) from R Burnell, which is secured by a charge over Unit 3E, Apollo Office Park, OX15 6AY.

Included within creditors are hire purchase agreements totalling £87,775 (2023: £44,283), which are secured on the related assets.
8 Share capital 2024 2023
£ £
Allotted, called up and paid up share capital
75 A ordinary shares of £0.01 each 1 1
50 B ordinary shares of £0.01 each 1 1
25 C ordinary shares of £0.01 each - -
50 D ordinary shares of £0.01 each - -
2 2
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 54,339 55,151
10 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
Director
Loan 1 24,219 - (24,219) -
Loan 2 - 40,701 (13,793) 26,908
Director
Loan 1 10,088 - (10,088) -
Loan 2 - 43,132 (27,924) 15,208
34,307 83,833 (76,024) 42,116
During the year, the company advanced loans to two directors. The maximum amounts outstanding during the year were £44,433 (2023: £44,477) and £32,733 (2023: £30,388), respectively. Interest has been charged on these loans at the HM Revenue & Customs authorised rate for beneficial loans.

There are no fixed terms of repayment. The total amount outstanding at the balance sheet date was £42,116 (2023: £34,307), which is included within other debtors.
11 Other information
Prosser Carpentry & Building Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3e Apollo Office Park
Ironstone Lane
Banbury
Oxfordshire
OX15 6AY
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