1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 13675667 2023-04-01 2024-03-31 13675667 2024-03-31 13675667 2023-03-31 13675667 2022-04-01 2023-03-31 13675667 2023-03-31 13675667 2022-03-31 13675667 core:PlantMachinery 2023-04-01 2024-03-31 13675667 core:MotorVehicles 2023-04-01 2024-03-31 13675667 bus:RegisteredOffice 2023-04-01 2024-03-31 13675667 bus:LeadAgentIfApplicable 2023-04-01 2024-03-31 13675667 bus:Director1 2023-04-01 2024-03-31 13675667 core:PlantMachinery 2023-03-31 13675667 core:MotorVehicles 2023-03-31 13675667 core:PlantMachinery 2024-03-31 13675667 core:MotorVehicles 2024-03-31 13675667 core:WithinOneYear 2024-03-31 13675667 core:WithinOneYear 2023-03-31 13675667 core:AfterOneYear 2024-03-31 13675667 core:ShareCapital 2024-03-31 13675667 core:ShareCapital 2023-03-31 13675667 core:RetainedEarningsAccumulatedLosses 2024-03-31 13675667 core:RetainedEarningsAccumulatedLosses 2023-03-31 13675667 core:PlantMachinery 2023-03-31 13675667 core:MotorVehicles 2023-03-31 13675667 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2024-03-31 13675667 bus:SmallEntities 2023-04-01 2024-03-31 13675667 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13675667 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13675667 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13675667 bus:FullAccounts 2023-04-01 2024-03-31 13675667 core:ComputerEquipment 2023-04-01 2024-03-31 13675667 core:ComputerEquipment 2023-03-31 13675667 core:ComputerEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 13675667
PWX CONSTRUCTION LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
PWX CONSTRUCTION LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
PWX CONSTRUCTION LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
Director
C K Batchelor
Registered office
168 Church Road
Hove
East Sussex
BN3 2DL
Accountants
UHY Hacker Young
Chartered accountants
168 Church Road
Hove
East Sussex
BN3 2DL
PWX CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
79,903
13,249
Current assets
Debtors
6
432,870
161,709
Cash at bank and in hand
7,699
----------
----------
440,569
161,709
Creditors: amounts falling due within one year
7
595,046
225,349
----------
----------
Net current liabilities
154,477
63,640
----------
---------
Total assets less current liabilities
( 74,574)
( 50,391)
Creditors: amounts falling due after more than one year
8
42,267
----------
---------
Net liabilities
( 116,841)
( 50,391)
----------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 116,842)
( 50,392)
----------
---------
Shareholders deficit
( 116,841)
( 50,391)
----------
---------
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 comprehensive income has not been delivered.
For the year ending 31 March 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PWX CONSTRUCTION LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 16 June 2025 , and are signed on behalf of the board by:
C K Batchelor
Director
Company registration number: 13675667
PWX CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 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 168 Church Road, Hove, East Sussex, BN3 2DL.
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.
Going concern
The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continuing support of the company's directors and connected companies.
If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts and to provide for further liabilities that might arise. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.
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.
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.
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:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 2 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 April 2023
1,765
5,348
10,552
17,665
Additions
6,402
83,265
3,622
93,289
-------
---------
---------
----------
At 31 March 2024
8,167
88,613
14,174
110,954
-------
---------
---------
----------
Depreciation
At 1 April 2023
441
1,337
2,638
4,416
Charge for the year
1,932
21,819
2,884
26,635
-------
---------
---------
----------
At 31 March 2024
2,373
23,156
5,522
31,051
-------
---------
---------
----------
Carrying amount
At 31 March 2024
5,794
65,457
8,652
79,903
-------
---------
---------
----------
At 31 March 2023
1,324
4,011
7,914
13,249
-------
---------
---------
----------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 31 March 2024
56,653
---------
At 31 March 2023
---------
6. Debtors
2024
2023
£
£
Trade debtors
386,634
10,573
Other debtors
46,236
151,136
----------
----------
432,870
161,709
----------
----------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
11,402
Trade creditors
33,220
18,081
Social security and other taxes
15,572
408
Amounts due to connected companies
500,113
181,662
Other creditors
46,141
13,796
----------
----------
595,046
225,349
----------
----------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
42,267
---------
----