Registration number:
Pioneer Design and Build Limited
for the Year Ended 31 December 2024
Pioneer Design and Build Limited
Contents
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Company Information |
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|
Strategic Report |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account and Statement of Retained Earnings |
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Balance Sheet |
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Statement of Cash Flows |
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Notes to the Financial Statements |
Pioneer Design and Build Limited
Company Information
|
Director |
Mr R J Pearson |
|
Company secretary |
Ms J Hitchcock |
|
Registered office |
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|
Auditors |
|
Pioneer Design and Build Limited
Strategic Report for the Year Ended 31 December 2024
The director presents his strategic report for the year ended 31 December 2024.
Principal activity
The principal activity of the company is building and project development.
Fair review of the business
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2024 |
2023 |
|
Turnover |
£ |
54,460,655 |
30,713,031 |
|
Operating profit |
£ |
287,128 |
286,535 |
|
Profit before tax |
£ |
265,138 |
253,831 |
|
Profit after tax |
£ |
286,744 |
551,737 |
The position at 31 December 2024 is detailed in the Balance Sheet. At 31 December 2024 the company had retained profits of £2,825,852 (2023: £2,748,248).
The directors consider the affairs of the company to be satisfactory.
Principal risks and uncertainties
In common with many other companies there is exposure to three main risks, market risk, liquidity risk, customer credit exposure.
At the moment, the United Kingdom is facing inflationary pressures. As a result of this The Bank of England has increased interest rates resulting in an increase in the cost of borrowing. To minimise the risk, the director closely monitors each development ensuring that they are completed on time, on budget and are correctly marketed to maximise profitability.
The objective in managing liquidity risk is to ensure that it can meet its financial obligations as and when they fall due. The company expects to meet its financial obligations through operating cash flows. In the event that operating cash flows would not cover all of the financial obligations, the company has additional credit facilities available.
The company offers credit terms to its customers which allows for payment of the debt due after delivery of the goods or service. The company is therefore at risk to the extent that a customer may be unable to pay the debt on the specified due date. This risk is mitigated by strong on-going customer relationships and close internal monitoring of customer credit ratings.
Approved and authorised by the
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......................................... |
Pioneer Design and Build Limited
Director's Report for the Year Ended 31 December 2024
The director presents his report and the financial statements for the year ended 31 December 2024.
Director of the company
The director who held office during the year was as follows:
Dividends
Dividends of £209,170 (2023: £nil) have been paid in the period.
Disclosure of information to the auditors
The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.
Disclosure in the Strategic Report
The company has chosen in accordance with section 414(c) of The Companies Act 2006 (Strategic and Directors Report) Regulations 2013 to set out in the Company's Strategic Report information required by Section 7 of The Large and Medium Sized Companies and Groups (Accounts and Reports) Regulators 2008.
Approved and authorised by the
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......................................... |
Pioneer Design and Build Limited
Statement of Director's Responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:
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• |
select suitable accounting policies and apply them consistently; |
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• |
make judgements and accounting estimates that are reasonable and prudent; |
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• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.
Pioneer Design and Build Limited
Independent Auditor's Report to the Members of Pioneer Design and Build Limited
Opinion
We have audited the financial statements of Pioneer Design and Build Limited (the 'company') for the year ended 31 December 2024, which comprise the Profit and Loss Account and Statement of Retained Earnings, Balance Sheet, Statement of Cash Flows, 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 31 December 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 director's 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 director with respect to going concern are described in the relevant sections of this report.
Other information
The director 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.
Pioneer Design and Build Limited
Independent Auditor's Report to the Members of Pioneer Design and Build Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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• |
the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements. |
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 Director's 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 director's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the Statement of Director's Responsibilities [set out on page 4], the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Pioneer Design and Build Limited
Independent Auditor's Report to the Members of Pioneer Design and Build Limited
Auditor’s 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:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was to identify those laws and regulations applicable to the company through discussions with the directors and to assess the content of compliance with them through making enquiries of management and inspecting legal correspondence.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud, and considering the internal controls in place to mitigate the risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we preformed analytical procedures to identify unusual or unexpected relationships or transactions and assessed whether judgements and assumptions made in determining any accounting estimates were indicative of potential bias.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the director and other management and the inspection of regulatory and legal correspondance, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they nay involve deliberate concealment or collusions.
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.
Pioneer Design and Build Limited
Independent Auditor's Report to the Members of Pioneer Design and Build Limited
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.
......................................
For and on behalf of
Crewe
Cheshire
CW1 6EA
Pioneer Design and Build Limited
Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 December 2024
|
Note |
2024 |
2023 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Operating profit |
|
|
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar charges |
( |
( |
|
|
(21,990) |
(32,704) |
||
|
Profit before tax |
|
|
|
|
Taxation |
|
|
|
|
Profit for the financial year |
|
|
|
|
Retained earnings brought forward |
2,748,248 |
2,196,511 |
|
|
Dividends paid |
( |
- |
|
|
Retained earnings carried forward |
2,825,852 |
2,748,248 |
There was no recognised gains or losses other than those recognised in the Profit and Loss Account.
None of the company's activities were acquired or discontinued during the above two financial years.
Pioneer Design and Build Limited
(Registration number: 04479153)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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||
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
|
|
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Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
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Provisions for liabilities |
( |
( |
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Net assets |
|
|
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Capital and reserves |
|||
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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|
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Shareholders' funds |
|
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Approved and authorised by the
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......................................... |
Pioneer Design and Build Limited
Statement of Cash Flows for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
|
|
Cash flows from operating activities |
|||
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Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
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Depreciation and amortisation |
|
|
|
|
Profit on disposal of tangible assets |
( |
( |
|
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Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Corporation tax expense |
( |
( |
|
|
|
|
||
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Working capital adjustments |
|||
|
Increase in stocks |
( |
( |
|
|
(Increase)/decrease in trade debtors |
( |
|
|
|
Increase in trade creditors |
|
|
|
|
Cash generated from operations |
|
|
|
|
Corporation taxes received |
|
|
|
|
Net cash flow from operating activities |
|
|
|
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Cash flows from investing activities |
|||
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Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
|
|
|
Net cash flows from investing activities |
|
|
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Proceeds from bank borrowing draw downs |
( |
( |
|
|
Payments to finance lease creditors |
( |
( |
|
|
Dividends paid |
( |
- |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net increase in cash and cash equivalents |
|
|
|
|
Cash and cash equivalents at 1 January |
|
|
|
|
Cash and cash equivalents at 31 December |
2,958,286 |
2,053,750 |
|
Pioneer Design and Build Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
|
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 United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared on a going concern basis, using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.
Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
Revenue recognition
Revenue (described as turnover) is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services. The amount includes work completed prior to the period end which was invoiced after the balance sheet date.
Pioneer Design and Build Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Contract revenue recognition
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by
reference to the stage of completion of the contract activity at the reporting end date. Variations in contract
work, claims and incentive payments are included to the extent that the amount can be measured reliably and its
receipt is considered probable.
When it is probable that total contract costs will exceed total contact turnover, the expected loss is recognised as
an expense immediately.
Where the outcome of a construction contract cannot be estimated reliably, contract costs are recognised as
expenses in the period in which they are incurred and contract revenue is recognised to the extent of contract
costs incurred where it is probable that they will be recoverable.
The "percentage of completion method" is used to determine the appropriate amount to recognise in a given
period. The stage of completion is measured by the proportion of contract costs incurred for work performed to
date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity
on a contract are excluded from contract costs in determining the stage of completion. These costs are presented
as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be
recovered.
Tax
The tax expense for the period comprises current and deferred tax.
The current 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 is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are stated in the balance sheet at cost, 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 |
|
Plant and machinery |
20% on cost |
|
Motor vehicles |
20% on cost |
|
Computer equipment |
33% on cost |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
Pioneer Design and Build Limited
Notes to the Financial Statements for the Year Ended 31 December 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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and
the company has no legal or constructive obligation to pay further contributions even if the fund does not hold
sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If
contribution payments exceed the contribution due for service, the excess is recognised as a prepayment
Pioneer Design and Build Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Financial instruments
Classification
‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company’s statement of financial position when the company
becomes party to the contractual provisions of the instrument.
Financial assets are classified into specified categories. The classification depends on the nature and purpose of
the financial assets and is determined at the time of recognition.
Basic Financial Assets
Basic financial assets which include trade and other receivables and cash and bank balances, are initially
measured at transaction price including transaction costs are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest.
Other Financial Assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint
ventures, are initially measured at fair value, which is normally the transaction price. Such assets are
subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that
investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably
are measured at cost less impairment.
Classification of Financial Liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of
the company after deducting all of its liabilities.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies
and preference shares that are classified as debt, are initially recognised at transaction price unless the
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of
the future receipts discounted at a market rate of interest.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year
or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction
price and subsequently measured at amortised cost using the effective interest method.
|
Turnover |
The analysis of the company's revenue for the year from continuing operations is as follows:
|
2024 |
2023 |
|
|
Sales |
|
|
Pioneer Design and Build Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Operating profit |
Arrived at after charging/(crediting)
|
2024 |
2023 |
|
|
Depreciation expense (owned) |
|
|
|
Depreciation expense (held under finance lease/HP) |
|
|
|
Operating lease expense - plant and machinery |
|
|
|
Profit on disposal of property, plant and equipment |
( |
( |
|
Auditor's remuneration - The audit of the company's annual accounts |
12,000 |
11,550 |
|
Other interest receivable and similar income |
|
2024 |
2023 |
|
|
Other finance income |
|
|
|
Interest payable and similar expenses |
|
2024 |
2023 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
|
|
|
Staff costs |
The aggregate payroll costs (including director's remuneration) were as follows:
|
2024 |
2023 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
Pension costs comprise contributions to a defined contribution pension scheme, the assets of which are held separately from those of the company in an independently administered fund. Outstanding contributions at the balance sheet date total £nil (2023: £3,461).
Pioneer Design and Build Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:
|
2024 |
2023 |
|
|
Production |
|
|
|
Administration and support |
|
|
|
|
|
|
Director's remuneration |
The director's remuneration for the year was as follows:
|
2024 |
2023 |
|
|
Remuneration |
|
|
|
Directors pensions |
|
|
|
Employers national insurance |
|
|
|
286,497 |
148,394 |
Pioneer Design and Build Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2024 |
2023 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
( |
( |
|
(11,389) |
(259,384) |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
( |
|
Tax receipt in the income statement |
( |
( |
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2023 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2024 |
2023 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Decrease from effect of different UK tax rates on some earnings |
- |
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Deferred tax credit from unrecognised temporary difference from a prior period |
( |
( |
|
Decrease in UK current tax from adjustment for prior periods |
( |
( |
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Total tax credit |
( |
( |
Pioneer Design and Build Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Tangible assets |
|
Computer equipment |
Motor vehicles |
Plant and machinery |
Total |
|
|
Cost or valuation |
||||
|
At 1 January 2024 |
|
|
|
|
|
Additions |
|
- |
|
|
|
Disposals |
( |
- |
( |
( |
|
At 31 December 2024 |
|
|
|
|
|
Depreciation |
||||
|
At 1 January 2024 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
( |
- |
( |
( |
|
At 31 December 2024 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 December 2024 |
|
|
|
|
|
At 31 December 2023 |
|
|
|
|
Motor vehicles with a carrying value of £32,684 (2023: £45,530) are held under finance leases.
|
Stocks |
|
2024 |
2023 |
|
|
Raw materials and consumables |
|
|
|
Debtors |
|
2024 |
2023 |
|
|
Trade debtors |
|
|
|
Amounts receivable on contracts |
|
|
|
Other debtors |
|
|
|
Total current trade and other debtors |
|
|
Pioneer Design and Build Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Creditors |
|
Note |
2024 |
2023 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Social security and other taxes |
|
|
|
|
Other payables |
|
|
|
|
Corporation tax |
87,599 |
90,663 |
|
|
|
|
||
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
At 1 January 2024 |
|
|
|
Increase (decrease) in existing provisions |
( |
( |
|
At 31 December 2024 |
|
|
|
|
||
|
Share capital |
Allotted, called up and fully paid shares
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
27,045 |
|
27,045 |
|
|
|
3,005 |
|
3,005 |
|
|
|
|
|
|
|
Reserves |
Called up share capital represents the nominal value of shares that have been issued.
Capital redemption reserve represents the nominal value of shares owned by the company.
Profit and loss account includes all current and prior period retained profit and losses.
Pioneer Design and Build Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Loans and borrowings |
Non-current loans and borrowings
|
2024 |
2023 |
|
|
Bank borrowings |
|
|
|
HP and finance lease liabilities |
|
|
|
|
|
|
Current loans and borrowings
|
2024 |
2023 |
|
|
Bank borrowings |
|
|
|
HP and finance lease liabilities |
|
|
|
|
|
|
Included within bank borrowings is £276,000 (2023: £460,000) in relation to a bank loan which is secured by a fixed and floating charge which covers all the assets of the company.
The amounts for Hire purchase liabilities, included within loans and borrowings, are secured upon the assets they relate to.
A debenture dated 17 June 2020, in favour of Lloyds Bank PLC, was granted on all present and future assets of the company.
A fixed charge dated 7 November 2023, in favour of Lloyds Bank PLC, was granted on all money obligations of the company.
Pioneer Design and Build Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
|
Related party transactions |
|
Transactions with the director |
|
2024 |
At 1 January 2024 |
Advances to director |
Repayments by director |
At 31 December 2024 |
|
Mr R J Pearson |
||||
|
Loans to director |
( |
( |
|
( |
|
2023 |
At 1 January 2023 |
Advances to director |
Repayments by director |
At 31 December 2023 |
|
Mr R J Pearson |
||||
|
Loans to director |
- |
( |
|
( |
The directors' loan is interest free and repayable on demand.
Summary of transactions with other related parties
Related parties by virtue of Mr J Beeson being a director and/or a shareholder in the companies. Costs have been incurred and recharged at cost to related parties. Also, the company has made cash loans to several related parties, which are unsecured and interest free. Expenditure and Sales transactions are all done on an arms-length basis.
Income and receivables from related parties
|
2024 |
Other related parties |
|
Sale of goods |
|
|
Settlement of liabilities |
( |
|
( |
|
|
Amounts receivable from related party |
|
|
|
|
|
2023 |
Other related parties |
|
Sale of goods |
|
|
Settlement of liabilities |
( |
|
( |
|
|
Amounts receivable from related party |
|
|
|
|
Pioneer Design and Build Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Expenditure with and payables to related parties
|
2024 |
Other related parties |
|
Purchase of goods |
|
|
Settlement of liabilities |
( |
|
|
|
|
|
|
|
2023 |
Other related parties |
|
Purchase of goods |
|
|
Settlement of liabilities |
( |
|
( |
|
|
Amounts payable to related party |
|
|
|
|
Loans to related parties
|
2024 |
Other related parties |
|
At start of period |
|
|
Advanced |
|
|
Repaid |
( |
|
At end of period |
|
|
|
|
|
2023 |
Other related parties |
|
At start of period |
|
|
Advanced |
|
|
Repaid |
( |
|
At end of period |
|
|
|
|