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Registration number: 01965575

Princebuild Holdings Limited

Annual Report and Financial Statements

for the Year Ended 30 September 2024

 

Princebuild Holdings Limited

Contents

Company Information

1

Strategic Report

2

Directors' Report

3

Statement of Directors' Responsibilities

4

Independent Auditor's Report

5 to 7

Statement of Income and Retained Earnings

8

Balance Sheet

9

Notes to the Financial Statements

10 to 21

 

Princebuild Holdings Limited

Company Information

Directors

S S Pudney

M J Pudney

D J Asplin

M D Asplin

J M Pudney

Company secretary

S S Pudney

Registered office

Empson Road
Peterborough
Cambridgeshire
PE1 5UP

Solicitors

Buckles Solicitors
Grant House
101 Bourges Boulevard
Peterborough
PE1 1NG

Auditors

Forrester Boyd Robson Limited
Chartered Accountants
26 South Saint Mary's Gate
Grimsby
North East Lincolnshire
DN31 1LW

 

Princebuild Holdings Limited

Strategic Report for the Year Ended 30 September 2024

The Directors present their strategic report for the year ended 30 September 2024.

Principal activity

The principal activity of the Company is that of a holding company.

Fair review of the business

The company acts as the parent of Princebuild Limited. Its income comprises dividends, management charges and rent received from its subsidiary, and interest received on its bank deposit account.

On 26 February 2021 the company's entire share capital was purchased by Princebuild Group Limited as part of an internal restructure. As a result of this, the company has taken advantage of the exemption from the requirement to prepare group accounts, on the grounds that it is included within the accounts of Princebuild Group Limited. The results and assets included within these financial statements are those of Princebuild Holdings Limited only.

The full Strategic Report and Business Review of the group, as well as its assessment of principal risks and uncertainties, are included within the accounts of Princebuild Limited and Princebuild Group Limited.

Approved and authorised by the Board on 24 April 2025 and signed on its behalf by:
 

.........................................
M J Pudney
Director

 

Princebuild Holdings Limited

Directors' Report for the Year Ended 30 September 2024

The Directors present their report and the financial statements for the year ended 30 September 2024.

Directors of the Company

The Directors who held office during the year were as follows:

S S Pudney - Company secretary and director

M J Pudney

D J Asplin

M D Asplin

J M Pudney

Disclosure of information to the auditors

Each Director has taken steps that they ought to have taken as a Director in order to make themselves aware of any relevant audit information and to establish that the Company's auditors are aware of that information. The Directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Approved and authorised by the Board on 24 April 2025 and signed on its behalf by:
 

.........................................
M J Pudney
Director

 

Princebuild Holdings Limited

Statement of Directors' Responsibilities

The Directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the Directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Princebuild Holdings Limited

Independent Auditor's Report to the Members of Princebuild Holdings Limited

Opinion

We have audited the financial statements of Princebuild Holdings Limited (the 'Company') for the year ended 30 September 2024, which comprise the Statement of Income and Retained Earnings, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the Company's affairs as at 30 September 2024 and of its profit for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.

Other information

The Directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

 

Princebuild Holdings Limited

Independent Auditor's Report to the Members of Princebuild Holdings Limited

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of Directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Discussions with management covering known or suspected instances of fraud or other non-compliance.

Challenging assumptions for any accounting estimates and other judgements made within the accounts.

Testing journal entries and other potential areas for management influence over the financial statements.

Performing analytical procedures to identify any unusual or unexpected relationships.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

 

Princebuild Holdings Limited

Independent Auditor's Report to the Members of Princebuild Holdings Limited

......................................
Neal Watford ACA (Senior Statutory Auditor)
For and on behalf of Forrester Boyd Robson Limited, Statutory Auditor

26 South Saint Mary's Gate
Grimsby
North East Lincolnshire
DN31 1LW

24 April 2025

 

Princebuild Holdings Limited

Statement of Income and Retained Earnings for the Year Ended 30 September 2024

Note

2024
£

2023
£

Turnover

3

960,613

742,325

Administrative expenses

 

(343,676)

(226,472)

Operating profit

4

616,937

515,853

Income from shares in group undertakings

 

1,365,821

3,131,722

Other interest receivable and similar income

5

5,915

9,758

Interest payable and similar charges

6

(69,917)

(123,874)

 

1,301,819

3,017,606

Profit before tax

 

1,918,756

3,533,459

Taxation

10

(154,822)

(100,336)

Profit for the financial year

 

1,763,934

3,433,123

Retained earnings brought forward

 

12,142,127

10,163,828

Dividends paid

 

(1,699,154)

(1,454,824)

Retained earnings carried forward

 

12,206,907

12,142,127

 

Princebuild Holdings Limited

(Registration number: 01965575)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

11

4,166,080

4,264,801

Investment property

12

2,715,000

2,715,000

Investments

13

4,532,187

4,532,187

 

11,413,267

11,511,988

Current assets

 

Debtors

14

4,338,161

3,320,602

Cash at bank and in hand

 

483,783

320,070

 

4,821,944

3,640,672

Creditors: Amounts falling due within one year

16

(2,501,508)

(1,355,464)

Net current assets

 

2,320,436

2,285,208

Total assets less current liabilities

 

13,733,703

13,797,196

Creditors: Amounts falling due after more than one year

16

(383,305)

(500,500)

Provisions for liabilities

17

(345,578)

(356,656)

Net assets

 

13,004,820

12,940,040

Capital and reserves

 

Called up share capital

1,000

1,000

Revaluation reserve

19

796,913

796,913

Retained earnings

19

12,206,907

12,142,127

Shareholders' funds

 

13,004,820

12,940,040

Approved and authorised by the Board on 24 April 2025 and signed on its behalf by:
 

.........................................
M J Pudney
Director

 

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

1

General information

The Company is a private company limited by share capital, incorporated in United Kingdom and the company registration number is 01965575.

The address of its registered office is:
Empson Road
Peterborough
Cambridgeshire
PE1 5UP

These financial statements were authorised for issue by the Board on 24 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the company and have been rounded to the nearest pound.

Summary of disclosure exemptions

The Company has taken advantage of the exemptions within FRS 102 Section 1.2 relating to subsidiary companies.

Exemption from preparing group accounts

The financial statements contain information about Princebuild Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group.

The company is exempt under section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Princebuild Group Limited, a company incorporated in the United Kingdom
.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Tax

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

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

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost or valuation, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land

Not depreciated

Buildings

2% straight liine

Furniture, fittings and equipment

20% straight line

Motor vehicles

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Turnover

The analysis of the Company's Turnover for the year from continuing operations is as follows:

2024
£

2023
£

Rendering of services

95,632

43,188

Rental income from investment property

204,981

39,137

Other revenue

660,000

660,000

960,613

742,325

Rendering of services relates to rental income generated from the company's freehold land and buildings.

Other revenue represents management charge income from the company's subsidiary undertakings.

4

Operating profit

Arrived at after charging/(crediting)

 

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

2024
£

2023
£

Depreciation expense

98,721

42,072

5

Other interest receivable and similar income

2024
£

2023
£

Interest income on bank deposits

5,915

9,758

6

Interest payable and similar expenses

2024
£

2023
£

Interest on bank overdrafts and borrowings

33,692

30,576

Interest on obligations under finance leases and hire purchase contracts

-

16,787

Interest expense on other finance liabilities

36,225

76,511

69,917

123,874

7

Staff costs

The aggregate payroll costs (including Directors' remuneration) were as follows:

2024
£

2023
£

Wages and salaries

151,634

93,717

Social security costs

14,021

7,185

165,655

100,902

The average number of persons employed by the Company (including Directors) during the year, analysed by category was as follows:

2024
No.

2023
No.

Administration and support

5

5

5

5

8

Directors' remuneration

The Directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

151,634

93,717

The directors of the company are the key management personnel.

 

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

9

Auditors' remuneration

2024
£

2023
£

Audit of the financial statements

6,000

5,500


 

 

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

10

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

165,900

60,395

Deferred taxation

Arising from origination and reversal of timing differences

(11,078)

39,941

Tax expense in the income statement

154,822

100,336

The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of 25% (2023 - 22%).

The differences are reconciled below:

2024
£

2023
£

Profit before tax

1,918,756

3,533,459

Corporation tax at standard rate

479,689

777,361

Effect of expense not deductible in determining taxable profit (tax loss)

16,588

7,139

Deferred tax expense relating to changes in tax rates or laws

-

4,815

Tax decrease from effect of dividends from UK companies

(341,455)

(688,979)

Total tax charge

154,822

100,336

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

Accelerated capital allowances

24,312

Revaluation of freehold land and buildings

176,943

Revaluation of investment property

144,323

Total

345,578

2023

Liability
£

Accelerated capital allowances

35,390

Revaluation of freehold land and buildings

176,943

Revaluation of investment property

144,323

Total

356,656

 

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

11

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

4,244,183

42,747

181,308

4,468,238

At 30 September 2024

4,244,183

42,747

181,308

4,468,238

Depreciation

At 1 October 2023

138,053

42,747

22,637

203,437

Charge for the year

53,393

-

45,328

98,721

At 30 September 2024

191,446

42,747

67,965

302,158

Carrying amount

At 30 September 2024

4,052,737

-

113,343

4,166,080

At 30 September 2023

4,106,130

-

158,671

4,264,801

Included within the net book value of land and buildings above is £4,052,737 (2023 - £4,106,130) in respect of freehold land and buildings.

Included within the net book value of land and buildings above is £1,306,959 (2023 - £1,306,959) of land which is not depreciated.

Revaluation

The fair value of the Company's Land and buildings was revalued on 21 April 2021 by an independent valuer.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £3,270,327 (2023 - £3,270,327).

Assets held under finance leases and hire purchase contracts

The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:

2024
£

2023
£

Motor vehicles

113,343

158,671

   

Restriction on title and pledged as security

Land and buildings with a carrying amount of £767,560 (2023 - £778,147) has been pledged as security for bank borrowings.

Motor vehicles with a carrying amount of £113,343 (2023 - £158,671) has been pledged as security for hire purchase liabilities.

 

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

12

Investment properties

2024
£

At 1 October

2,715,000

At 30 September

2,715,000


Investment properties were subject to valuation by M. Pudney (a director who is not a professionally qualified valuer). The basis of this valuation was a fair value basis in the context of the location and class of investment properties being revalued. The historic cost equivalent of these assets is £1,672,477.

There has been no valuation of investment property by an independent valuer.

 

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

13

Investments

2024
£

2023
£

Investments in subsidiaries

4,532,187

4,532,187


 

Subsidiaries

£

Cost or valuation

At 1 October 2023

4,532,187

Provision

At 30 September 2024

-

Carrying amount

At 30 September 2024

4,532,187

At 30 September 2023

4,532,187

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the Company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Princebuild Limited

Empson Road
Peterborough
Cambridgeshire
United Kingdom
PE1 5UP

Ordinary shares

100%

100%

Princebuild UK Limited

Empson Road
Peterborough
Cambridgeshire
United Kingdom
PE1 5UP

Ordinary shares

100%

100%

 

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Subsidiary undertakings

Princebuild Limited

The principal activity of Princebuild Limited is property maintenance.

Princebuild UK Limited

The principal activity of Princebuild UK Limited is property maintenance.

14

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

20,805

3,246

Amounts owed by related parties

21

4,270,000

3,270,000

Other debtors

 

47,356

47,356

   

4,338,161

3,320,602

15

Cash and cash equivalents

2024
£

2023
£

Cash at bank

483,783

320,070

16

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

20

413,333

606,199

Trade creditors

 

9,419

2,029

Amounts due to related parties

21

1,859,599

625,513

Social security and other taxes

 

47,570

38,141

Accruals

 

5,687

23,187

Income tax liability

10

165,900

60,395

 

2,501,508

1,355,464

Due after one year

 

Loans and borrowings

20

383,305

500,500

 

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

17

Provisions for liabilities

Deferred tax
£

Total
£

At 1 October 2023

356,656

356,656

Increase (decrease) in existing provisions

(11,078)

(11,078)

At 30 September 2024

345,578

345,578

18

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A and P shares of £1 each

1,000

1,000

1,000

1,000

       

Rights, preferences and restrictions

Ordinary shares have the following rights, preferences and restrictions:
Full voting and participation rights with no restriction on distribution of dividends or repayment of capital.

19

Reserves

Called up share capital

Share capital comprises of the value of issued share capital at par.

Profit and loss account

The profit and loss account consists of profits made attributable to the shareholders of the company.

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

529,318

529,318

 

Princebuild Holdings Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

20

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

383,305

442,910

Hire purchase liabilities

-

57,590

383,305

500,500

2024
£

2023
£

Current loans and borrowings

Bank borrowings

44,882

26,245

Other borrowings

311,089

484,927

Hire purchase liabilities

57,362

95,027

413,333

606,199

Secured creditors
The aggregate amount of secured creditors total £485,549 (2023 - £621,772).

Bank borrowings are secured by fixed and floating charges charge over the company's freehold land and buildings.

Hire purchase liabilities are secured on the assets to which they relate.
 

21

Related party transactions

The company has taken advantage of the exemption in section 33 of FRS 102 'Related Party Disclosures' from disclosing transactions with other members of the group in which any subsidiary which is a party to the transaction is wholly owned by the group.

22

Parent and ultimate parent undertaking

The ultimate holding company and immediate parent is Princebuild Group Limited, incorporated in the United Kingdom.

The most senior parent entity producing publicly available financial statements is Princebuild Group Limited. These financial statements are available upon request from the registered office of the Company, which is the same as the Parent Company and is listed on page 1.