Registered number
09016026
P & M Construction (South West) Limited
Unaudited Filleted Accounts
29 March 2024
P & M Construction (South West) Limited
Registered number: 09016026
Balance Sheet
as at 29 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 47,312 37,871
Current assets
Debtors 5 1,379 7,413
Cash at bank and in hand 41,355 33,461
42,734 40,874
Creditors: amounts falling due within one year 6 (33,541) (28,878)
Net current assets 9,193 11,996
Total assets less current liabilities 56,505 49,867
Provisions for liabilities (1,022) -
Net assets 55,483 49,867
Capital and reserves
Called up share capital 2 2
Profit and loss account 55,481 49,865
Shareholders' funds 55,483 49,867
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.
SM Ricketts
Director
Approved by the board on 2 June 2025
P & M Construction (South West) Limited
Notes to the Accounts
for the period from 31 March 2023 to 29 March 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery over 5 years
Motor vehicles 25% reducing balance
Office equipment over 3 years
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 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 31 March 2023 48,000
At 29 March 2024 48,000
Amortisation
At 31 March 2023 48,000
At 29 March 2024 48,000
Net book value
At 29 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 31 March 2023 3,752 66,429 70,181
Additions 24,000 - 24,000
At 29 March 2024 27,752 66,429 94,181
Depreciation
At 31 March 2023 3,363 28,947 32,310
Charge for the period 5,189 9,370 14,559
At 29 March 2024 8,552 38,317 46,869
Net book value
At 29 March 2024 19,200 28,112 47,312
At 30 March 2023 389 37,482 37,871
5 Debtors 2024 2023
£ £
Deferred tax asset - 1,279
Other debtors 1,379 6,134
1,379 7,413
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,500 -
Taxation and social security costs 28,560 21,255
Other creditors 3,481 7,623
33,541 28,878
7 Controlling party
The controlling parties are SM Ricketts and MR Ricketts by virtue of their ownership of 100% of the issued ordinary share capital in the company.
8 Other information
P & M Construction (South West) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Units 1-4 Crossley Farm Business Park
Swan Lane, Winterbourne
Bristol
South Gloucestershire
BS36 1RH
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